More on Financial Services
Today, Congressman Denver Riggleman (R-VA) introduced the Federal Reserve Accountability and Justification Act.
The bill, H.R. 3928, requires the Federal Reserve to meet transparency requirements before providing any new, or substantially changing or expanding, any existing payment service. Additionally, their own policy statement requires the Fed to demonstrate that no other providers, such as the private sector, can provide these services.
Washington D.C. -Today, the House Financial Services Committee held a hearing on Facebook's proposal to issue a digital currency known as Project Libra. Congressman Denver Riggleman questioned Facebook Cryptocurrency Head David Marcus on a diverse set of issues regarding the proposal including safety, security and adherence to anti-money laundering laws.
Washington D.C. - Congressman Denver Riggleman delivered a speech on the House floor today standing up for franchise small business owners.
"As a small business owner myself, I know the challenges franchises and small businesses face and I will always have their back," said Congressman Riggleman. "I am committed to making sure small business owners have the freedom they need to prosper and be successful."
WASHINGTON D.C. - Congressman Denver Riggleman gave a Facebook Live address this morning to speak about the Export-Import Bank and other issues in Congress this week.
"Export-Import bank, which is going to be called the EFA, has been around since 1934. It supports many jobs and commerce abroad." Said Congressman Riggleman. "Even though I am against this type of subsidy sometimes, this is actually returning money to the treasury, and we can help businesses in the 5th District.”
Washington D.C. - Congressman Riggleman questioned Housing and Urban Development Secretary Ben Carson on Tuesday in a House Financial Services Committee hearing. Riggleman asked about how HUD was incentivizing opportunity zones to help support economic growth including in southside Virginia.
The U.S. House of Representatives advanced a bill this week that would require the Department of the Treasury to report semiannually on financial services provided to benefit a state sponsor of terrorism.
The Banking Transparency for Sanctioned Persons Act of 2019 (H.R. 1037) was sponsored by Rep. Denver Riggleman (R-VA).
“I am honored that my first legislation was passed unanimously through the House,” Riggleman said. “This bill gives Congress the tools it needs to monitor the financial transactions of bad actors and sanction state sponsors of terrorism.”
WASHINGTON D.C. - On Thursday, the House Financial Services Committee passed a bill co-sponsored by Congressman Denver Riggleman. H.R. 2391, the "Improving Rural Access to Power Act of 2019", is a bipartisan bill that would amend the Federal Home Loan Bank Act to provide investment authority to support rural infrastructure development. In the 5th district where 65% of constituents live in a rural area, this legislation would be a windfall for improving infrastructure and growing the economy.