WASHINGTON—One congressman is asking the House Financial Services Committee to take a much closer look at fintechs.
Congressman Patrick McHenry (R-NC) has asked Committee Chairwoman Maxine Waters (D-CA) to move forward on hearings in “critical areas that the committee should prioritize in the first months of the new Congress.”
The hearing on fintechs is actually just one of many on a long list provided by McHenry.
McHenry in his letter asked for a “hearing on the regulation of fintech, specifically to examine how the major U.S. financial regulators have started offices of innovation and pilot programs to encourage innovation in financial services and evaluating the strengths and weaknesses of that current framework,” Crowdfund Insider reported.
Among other requests, McHenry also asked the HFSC to hold a hearing on cybersecurity in the financial sector to “examine the readiness of our financial sector and the U.S. government to protect digital consumer accounts and personal information against fraud, misuse, and unauthorized access.”