Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Federal Deposit Insurance Corporation’s (FDIC) vote to finalize its Valid-When-Made rule and amend the overly-burdensome Volcker rule:
“The regulatory uncertainty caused by the ‘Madden’ decision drives lenders away and hurts borrowers. The FDIC’s… Read more »
Today, the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets held a hearing with the Securities and Exchange Commission (SEC) Chairman, Jay Clayton. Committee Republicans focused on the Commission's work to stabilize capital markets and reduce regulatory burdens on businesses, streamline the flow of capital to ensure a strong economic recovery, and increase… Read more »
Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), joined After the Bell on Fox Business to discuss next steps in the effort to combat the economic crisis caused by the coronavirus public health crisis. The Ranking Member also stressed the importance of a plan to right-size relief policies to ensure long-term financial stability.
… Read more »
Today, the Financial Services Committee is holding a virtual hearing with Federal Reserve Chairman Jerome Powell on the state of our economy and the Federal Reserve’s actions to respond to the economic crisis caused by the global health crisis.
Watch Ranking Republican Patrick McHenry’s (NC-10) opening remarks here.
Ranking Member McHenry’s opening remarks as delivered:
“Thank you,… Read more »
Today, the Subcommittee on National Security, International Development, and Monetary Policy held a virtual hearing on the increased threat of coronavirus-fueled cyberattacks against our financial institutions and vulnerable Americans.
“Cybersecurity and the need for strong cyber protocols has long been a topic of discussion in this Committee, and the virus has only underscored the… Read more »
Today, the Federal Reserve opened lender registration for the Main Street Lending Program (MSLP), signaling the program will soon be operational. The MSLP will support small and mid-sized businesses, and their employees, that were in good financial standing before the public health crisis by ensuring credit flows to businesses in need. Keeping these Main Street businesses solvent will… Read more »
Today, the Task Force on Financial Technology held a virtual hearing on the role that new technologies, like the digital dollar, play in fostering greater financial inclusion for the underbanked. These emerging technologies also offer a solution for swiftly disbursing government assistance—such as stimulus payments—to Americans with limited access to traditional banking services.
“I want… Read more »
WASHINGTON – Over the past few months, American families and businesses have stood strong through an unprecedented economic dislocation as a result of the coronavirus pandemic. The Trump Administration and Congress have worked at a breakneck pace to stand up programs to support hardworking Americans across our nation. Specifically, the Paycheck Protection Program (PPP), which has rushed… Read more »
Today, the Subcommittee on Housing, Community Development, and Insurance held its first virtual hearing—the second for the Committee overall—on the economic impact of COVID-19 on renters and housing providers. Committee Republicans remain focused on solutions that are data-driven and targeted toward those who need it most, while also addressing the underlying state and local regulatory… Read more »
Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), sent a letter in support of the Securities and Exchange Commission’s (SEC) efforts to simplify and improve the complex exempt offering framework. In the letter, Ranking Member McHenry states that these proposed changes “would help small businesses and expand investment… Read more »
