H.R. 7440, titled the “Financial Services Innovation Act of 2024,” seeks to boost innovation in financial services by allowing companies to request modifications or waivers of certain regulations if it helps introduce new technologies. The bill mandates the creation of...
Simple Explanation
H.R. 7440 is a plan to help new ideas in money services by letting companies ask for special rules to try out new technology, and it creates special groups to make sure everything stays fair and safe for people.