China Takes a Beating From House Financial Services Committee

Also, Gensler Touts private funds proposal; CFPB defends rule on card late fees; regulators issue warning about crypto in retirement accounts

If anyone expected sparks to fly at the House Financial Services Committee’s first hearing under its new Chairman Patrick McHenry, they would’ve been mistaken. But since he picked the topic of China (and not, as some of our readers had hoped, Gary Gensler) there was an ample display of bipartisanship over the economic threats that the Asian superpower p…