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Regulators make it easier for banks to lend under stress
Mar 17, 2020
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By Victoria Guida | March 17, 2020 Federal bank regulators today moved to make it easier for lenders to reduce their loss-absorbing capital as they aim to clear the path for banks to keep credit flowing amid economic stress from the coronavirus pandemic. The move adjusts capital rules so the penalt...
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Crowdfunding to Combat the Coronavirus Act: Proposed Legislation Creates $1 billion Prize to Crowdfund COVID-19 Vaccine
Mar 12, 2020
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Representative Patrick McHenry, Ranking Member on the House Financial Services Committee, has proposed legislation to crowdfund a vaccine for the Coronavirus entitled “Crowdfunding to Combat the Coronavirus Act.” The bill creates a $1 billion prize for anyone that develops a vaccine for COVID-19 tha...
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Relief for Small Businesses Through Micro-Offerings Act of 2020: Legislation Seeks to Create Micro-Offering Hosted by Funding Portals
Mar 12, 2020
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Representative Patrick McHenry distributed multiple legislative proposals today designed to mitigate the impact of the Coronavirus pandemic. While the inevitable outcome is unknown, what is clear is that the economy will take a hit – most likely impacting small businesses disproportionately. McHenry...
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How Bitcoin Is Already Changing the World, with Rep. Patrick McHenry
Feb 13, 2020
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The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), joined Congressman Dan Crenshaw’s (TX-2) recently launched podcast to discuss the technology behind cryptocurrencies, like Bitcoin, and its potential to foster greater financial inclusion—and help you get to work ...
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Morning Consult: Why Protecting Financial Institutions From Cyberattacks Is an Urgent Matter
Jan 16, 2020
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Last year, the Financial Services Committee heard directly from the CEOs of America’s seven largest banks. When asked what kept these leaders up at night, a majority cited cyberattacks as the greatest risk they faced — not productivity growth, not political upheaval overseas, not an economic slowdo...
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Top Republican asks Mnuchin to probe Warren’s proposal to tax stock trades
Nov 20, 2019
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A top Republican is seeking additional answers on the potential impact of a financial transaction tax on the markets and U.S. economy. In a letter obtained by FOX Business, Ranking Member of the House Financial Services Committee Patrick McHenry asked Treasury Secretary Steven Mnuchin to analyze the...
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ICYMI: McHenry on Unchained: I Want the Default to be “Yes” to Innovation
Oct 22, 2019
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Today, Republican leader of the House Financial Services Committee Patrick McHenry (NC-10) appeared on Laura Shin’s cryptocurrency podcast, Unchained, to discuss his newly reintroduced bill, the Financial Services Innovation Act of 2019, to modernize and streamline how innovators interact with regul...
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GOP Lawmaker Calls for Fed to Detail Its Cybersecurity
Sep 26, 2019
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Rep. Patrick McHenry introduces bill requiring central bank to report on security preparations The top Republican lawmaker on an influential House committee wants the Federal Reserve to be more open about its cybersecurity preparations. Rep. Patrick McHenry (R., N.C.), the ranking member of the Hous...
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McHenry presses Fed on supervision of Capital One following data breach
Aug 7, 2019
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Rep. Patrick McHenry (R-N.C.) today pressed Federal Reserve regulatory chief Randal Quarles for more information about the central bank's supervision of Capital One following a massive data breach at the bank. "I ask that you provide information on the Capital One breach, including an indication of ...
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Will GOP Credit Reporting Bill Gain Bipartisan Support?
Aug 6, 2019
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Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.). Unlike earlier bills that have passed throu...
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