Washington, Feb 5 (IANS) The United States has defended its sanctions-led foreign policy toward Iran and Myanmar, with Treasury Secretary Scott Bessent telling lawmakers that economic pressure remains a central pillar of Washington’s national security and global financial stability strategy. Testifying before the House Financial Services Committee on the Financial Stability Oversight Council’s 2025 annual report on Wednesday (local time), Bessent said the Trump administration continues to pu…
Latest House Financial Services Committee News & Updates
Washington, Feb 5 (IANS) The United States is moving to revive small and community banks, arguing that years of heavy regulation weakened local lending and slowed economic growth, Treasury Secretary Scott Bessent told Congressmen. Testifying before the House Financial Services Committee on Wednesday (local time), Bessent said community banks are critical to small businesses, agriculture, and housing, but have steadily disappeared since the global financial crisis.“More than 50 per cent of comm…
Washington, Feb 5 (IANS) Artificial intelligence is becoming a new focus for US financial regulators. Treasury Secretary Scott Bessent told Congress that AI can strengthen markets, but it also poses risks that require close monitoring.Bessent was testifying before the House Financial Services Committee on the Financial Stability Oversight Council’s 2025 annual report. He said AI is now one of the four top priorities for protecting the financial system. The others are Treasury markets, cybersec…