WASHINGTON — The House Financial Services Committee has scheduled hearings next month to examine the proposed merger of BB&T and SunTrust Banks and Facebook’s plans for a cryptocurrency.
The full committee will meet July 17 for a hearing to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors and the U.S. financial system. That comes a day after a similar hearing in the Senate Banking Committee, which was announced last week almost immediately after Facebook announced its crypto plans.
On July 24, the House banking panel will meet for a separate hearing, "The Next Megabank?," to examine the impacts of the BB&T-SunTrust deal on consumers and the economy.
Committee Chairwoman Maxine Waters, D-Calif.,
Both Waters and Ranking Member Patrick McHenry, R-N.C.,
Other hearings scheduled next month are a full committee hearing on monetary policy and the state of the economy and a subcommittee hearing on companies’ environmental, social and governance disclosures July 10.
The new fintech task force will hold a hearing on alternative data and underwriting in credit scoring on July 24.