The election view from McHenry's district; credit unions grapple with fraud against seniors
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On Election Night, McHenry says policy ambitions are also 'good politics' : North Carolina Republican Pat McHenry, who's likely to be the next chair of the House Financial Services Committee, promised constituents that he would go after "woke corporations" in Washington.
Read more from our election-night coverage. Two key banking policymakers win elections; other races remain toss-ups . Rep. Patrick McHenry, R-N.C., who could be the next House Financial Services Committee chairman, handily won reelection, as did Sen. Tim Scott, R-S.C., of the Senate Banking Committee. But many consequential races are still too close to call.
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Bank in Puerto Rico launches its digital-asset custody service : FV Bank will let customers hold, transfer and settle both digital assets and fiat currencies in one account.
Worldline preps for mobile to take over the point of sale : Merchant service firm Worldline 's stake in?SoftPos.eu , which supports software-based smartphone payments, positions it to better serve the businesses that want to move away from traditional terminals.
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Financial abuse of the elderly a growing problem for credit unions : Scams against the elderly are responsible for more than $3 billion in losses each year, according to the Federal Bureau of Investigation (FBI) . Credit unions say they are seeing more cases, and often the hardest part is getting the victims to admit they've been taken advantage of.
Small regional bank takes narrower approach to overdraft reform : F.N.B. Corporation in Pittsburgh is cutting a pair of overdraft-related fees by between $2 and $8 — relatively modest changes compared with those enacted by some larger banks. At the same time, it's taking various steps to make it easier for customers to avoid the controversial charges.
Upstart CEO 'unhappy' over revenue slide in tougher economy : During the third quarter, revenues at the online consumer lender fell by 31% from the previous three months. CEO Dave Girouard expressed dissatisfaction but also argued that the company's lending model is working as intended.
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2 年Going after “woke” corporations makes for good soundbites but it’s nor remotely what the head of the House Financial Services Committee should be spending time on, any more than would going after the “MyPillow” guy for his election denialism be if the HFSC were to be run by a Democrat. If he’s a true “free markets” believer his stance should be that the market will vote with its feet. (As it currently is). Customers and consumers who don’t like the social policy goals of corporations, who according to the supreme court are “individuals” with “free speech rights” can and do vote with their feet and put pressure on those corporations. Why the HFSC should give a hoot whether Nike supports its employees’ abortion rights, or whether Citicorp can choose not to do business with climate polluters, is beyond me when there are so many pressing issues in the, ummm, Financial Services arena, such as tackling the deficit, a runaway Fed, the liquidity challenges in the Treasury market, the lack of regulation and confidence in the crypto industry, the rapid growth in consumer debt driven in part by usurious / predatory BNPL schema, etc. Now that McHenry’s election is run, I’d encourage him to stay in his lane when it comes to HFSC.