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  • McHenry warns of 'circus atmosphere' surrounding banks before major hearing
    Apr 2, 2019 - Politically motivated jabs at banks risk distracting lawmakers from addressing serious threats to the U.S. economy, from China's debt bubble to Brexit, the top Republican on the House Financial Services Committee said today. In a speech at the Chamber of Commerce, Rep. Patrick McHenry (R-N.C.) said ... More
  • Republican lawmakers urge National Flood Insurance Program reform
    Mar 21, 2019 - Republican House Financial Services Committee members called last week for meaningful reform of the National Flood Insurance Program (NFIP). During a recent hearing focusing on the program’s reauthorization, members highlighted the need to modernize the 51-year-old initiative that continues to accum... More
  • McHenry Talks FinTech at CUNA GAC
    Mar 18, 2019 - Jim Nussle, CUNA president/CEO, released the following statement after Congressman Patrick McHenry (R-NC), spoke at the 2019 Credit Union National Association Governmental Affairs Conference (CUNA GAC): “Congressman McHenry is a leading advocate for credit unions. He works to break through the strug... More
  • Wells Fargo CEO grilled by bipartisan lawmakers over scandals
    Mar 12, 2019 - Michigan representatives were among the lawmakers who blasted Wells Fargo CEO Tim Sloan on Tuesday for the company's recent scandals and its response to them. Sloan told the House Financial Services Committee that the banking company has centralized its structure, beefed up its risk management profi... More
  • Lawmakers grill Wells Fargo CEO about scandals
    Mar 12, 2019 - After listening to Wells Fargo CEO Tim Sloan try to convince lawmakers the bank has undergone a “transformation,” Rep. Maxine Waters (D-CA) says it’s clear the bank has “failed to clean up its act.” Waters said she plans to reintroduce her legislation, the “Megabank Accountability and Consequences A... More
  • Waters, McHenry slam`broken' credit reporting system in face-off with executives
    Feb 26, 2019 - Indignation toward the credit reporting industry united the top Democrat and Republican on the House Financial Services Committee Tuesday, with both calling for the shakeup of a business dominated by three giants: Equifax, Experian and TransUnion. Financial Services Chairwoman Maxine Waters (D-Calif... More
  • House banking panel bemoans credit bureaus' 'oligopoly'
    Feb 26, 2019 - WASHINGTON — Nearly two years after the massive Equifax data breach, lawmakers made clear their criticism of the credit bureau industry has not abated. But at a hearing Tuesday where House members grilled CEOs of the largest bureaus and discussed possible reforms, lawmakers from both parties went be... More
  • McHenry investigates Ex-Im Bank's fraud prevention efforts
    Feb 7, 2019 - Rep. Patrick McHenry (R-N.C.) today asked the Export-Import Bank for information about the agency's efforts to combat fraud. In a letter to acting Ex-Im Bank President Jeffrey Gerrish, McHenry cited a July 2018 GAO report that made recommendations about how the agency could improve its fraud prevent... More
  • GOP presses for own oversight role as House Democrats investigate
    Feb 5, 2019 - House Democrats armed with subpoena power are vowing to follow the Trump money trail through the German lender Deutsche Bank — a target that Republicans say they want to investigate as well. Instead of fighting Democrats over their probe, GOP lawmakers are pursuing their own inquiry. The top Republi... More
  • House Member Presses Boeing on China-Backed Satellite Deal
    Jan 31, 2019 - The ranking GOP member of the House Financial Services Committee requested Boeing Co.BA +0.24% turn over documents about its relationship with a Chinese-backed satellite startup, adding to pressure on the aerospace giant after a Wall Street Journal investigation. In the letter sent Thursday, Rep. Pa... More