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Lawmakers Demand Investigation into Trump-Emirati Deal Risks

2/20/2026

Summary

Story summary

U.S. Treasury Secretary Scott Bessent testified before the House Financial Services Committee about the Financial Stability Oversight Council's annual report.
Lawmakers, led by Rep. Gregory Meeks, raised concerns over the Trump family's $500 million deal with the Emirati royal family, citing potential national security risks.
They called for an investigation into conflicts of interest involving World Liberty Financial, a cryptocurrency venture pursuing a national bank charter.
Democrats requested information on safeguards against foreign influence in the bank-chartering process to ensure transparency and independence in the U.S. banking system.

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Story summary

U.S. Treasury Secretary Scott Bessent testified before the House Financial Services Committee about the Financial Stability Oversight Council's annual report.
Lawmakers, led by Rep. Gregory Meeks, raised concerns over the Trump family's $500 million deal with the Emirati royal family, citing potential national security risks.
They called for an investigation into conflicts of interest involving World Liberty Financial, a cryptocurrency venture pursuing a national bank charter.
Democrats requested information on safeguards against foreign influence in the bank-chartering process to ensure transparency and independence in the U.S. banking system.