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.
The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair.
Some lawmakers and experts say that the administration's preference for stablecoin issuers to hold bank charters could have the unintended consequence of putting more risk into the banking system.