While the cost of financial services is a perennial topic of congressional debate, Congress has recently paid particular attention to the costs associated with credit cards, one of the most popular payment options for consumers. This In Focus provides background on the consumer credit card market and discusses policy…

The Senate frequently enters into unanimous consent agreements (also called “UC agreements”) that establish procedure on a bill that the Senate is considering or will soon consider. There are few restrictions on what these agreements can provide, and once agreed to, they can be altered only by a further unanimous cons…

On July 17, 2025, the House passed S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, or GENIUS Act, without amendment. An overview of key policy issues can be found here. The bill would establish a regime to regulate U.S. payment stablecoins, as described below. Requirements f…

A stablecoin is a digital asset that aims to maintain a stable price (e.g., a 1:1 peg) with a reference asset, such as the U.S. dollar. In the 119th Congress, legislation to regulate payment stablecoins has seen legislative action in the House (H.R. 2392) and Senate (S. 1582). This In Focus analyzes some of the key is…

On March 18, the Senate Banking, Housing and Urban Affairs Committee reported S. 919, the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, or GENIUS Act. The bill would establish a regime to regulate stablecoins, as described below. Requirements for Issuing Payment Stablecoins S. 919 defi…