Andy Barr’s ‘Vision’ for House Financial Services

“Now we have critical folks working in monetary innovation that may create a variety of jobs, generate wealth, cement America much more because the world’s monetary juggernaut,” he stated. “However there are pitfalls, and there are issues to be careful for, and regulators and lawmakers want to verify we’re constructing a basis, however not an excessively prescriptive algorithm. So I believe it is exhausting to sit down right here and never get enthusiastic about a few of the innovation that is occurring, however on the identical time, how are we going to manage it? How are we going to make sure that the innovation survives our laws?”