The incoming chair of the House Financial Services Committee wants regulators to "modernize and streamline how innovators interact with regulators," and grant offices of innovation the power to create "regulatory sandboxes." Patrick McHenry of North Carolina, the lead Republican and soon-to-be chair of the House Financial Services Committee, has re-introduced his Financial Services Innovation Act for the third time. The re-introduction signals that he plans to advance the bill further when he becomes committee chairman in the next Congress. (TheBlock)