Financial Services
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It's the trading frenzy that saw some unlikely companies' stocks soar. Now members of Congress want answers, including Wisconsin's Bryan Steil.
"We’re going to have to get answers to what exactly played out," said Steil.
Retail investors chatting online pushed the price up of stocks like GameStop and Milwaukee-based Koss, leaving investors who had bet the stock's value would go down, in a tough spot.
A local Congressman is joining an effort among lawmakers in Washington to promote policies that strengthen capital markets and support a growing, dynamic economy. Bryan Steil of Janesville says the “Investing in Innovation Initiative” will act as a think-tank to come up with legislation to more fairly inspire investment. Steil says current investment favors companies with access to big banks like those in New York. The Republican says he wants to support businesses in small town American have similar opportunity.
WASHINGTON, D.C.—House Financial Services Committee members Bryan Steil (WI-01) and Jake Auchincloss (MA-04) introduced H.R. 2710, the Banking Transparency for Sanctioned Persons Act. H.R. 2710 requires the U.S. Treasury Department to regularly report to Congress any sanctions waivers provided to allow transactions between financial institutions and targeted individuals.
WASHINGTON, D.C.—Today following a virtual press conference, House Financial Services Committee member Congressman Bryan Steil (WI-01) launched the Investing in Innovation Initiative. Founding members of the Investing in Innovation Initiative include Reps. Ann Wagner (MO-02), Andy Barr (KY-06), Steve Stivers (OH-15), Warren Davidson (OH-08), Anthony Gonzalez (OH-16), and William Timmons (SC-04). You can watch the press conference here.
WASHINGTON, D.C.—Today, House Financial Services Committee member, Congressman Bryan Steil (WI-01), re-introduced the Stop Evasion of Iran Sanctions Act. Steil’s bill prevents those trying to avoid U.S. sanctions against the Iranian regime by using a loophole known as INSTEX. Financial Services Committee members French Hill (AR-02), Lee Zeldin (NY-01), Lance Gooden (TX-05), and William Timmons (SC-04) are original cosponsors.
WASHINGTON, D.C.—House Financial Services Committee member, Rep. Bryan Steil (WI-01), introduced H.R. 7661, the Coronavirus EGC Extension Act to extend the initial public offering (IPO) on-ramp for Emerging Growth Companies (EGCs) during the ongoing coronavirus pandemic. This on-ramp gives EGCs the opportunity to access public capital markets to fund critical investment and growth by granting them appropriately tailored exemptions from certain costly regulatory requirements.
WASHINGTON, D.C.—Today, House Financial Services Committee member Bryan Steil (WI-01) released a statement following the SEC’s finalization of its proxy advisor rule, making needed reforms to the oversight of proxy advisory firms.
WASHINGTON, D.C.—Congressman Bryan Steil (WI-01) questioned Federal Reserve Chairman Jerome Powell during today’s Financial Services Committee hearing on the Fed’s actions to increase employment during coronavirus and its future economic recovery plans.
WASHINGTON, D.C.—Today, House Financial Services Committee member, Rep. Bryan Steil (WI-01), introduced H.R. 6015, the Stop Evasion of Iran Sanctions Act.
WASHINGTON, D.C.—Today, House Financial Services Committee member Congressman Bryan Steil (WI-01) released a statement after the Department of Justice announced four members of China’s military have been indicted on charges of hacking into Equifax.