Today, the Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in support of the Federal Deposit Insurance Corporation’s (FDIC) notice of proposed rulemaking regarding brokered deposits:
“Our regulatory framework should be working to encourage financial innovation, not hinder it. That means modernizing regulations when… Read more »
WASHINGTON – Today, the Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in support of the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation’s (FDIC) joint proposal to modernize the Community Reinvestment Act (CRA):
“In the past 40 years since the CRA was enacted, the way Americans… Read more »
WASHINGTON – Today, the House of Representatives passed the Otto Warmbier North Korea Nuclear Sanctions and Enforcement Act as part of the National Defense Authorization Act for Fiscal Year 2020 (NDAA). The Otto Warmbier legislation imposes some of the toughest mandatory sanctions ever on North Korea, including restrictions on foreign banks (“secondary sanctions”) and their access to the… Read more »
Today, the House Financial Services Committee is holding a markup of H.R. 1731, H.R. 2445, H.R. 4545, H.R. 5287, H.R. 5294, H.R. 5332, H.R. 5330, H.R. 5322, H.R. 5315, and resolutions to extend the Task Forces on Artificial Intelligence and Financial Technology.
Ranking Member Patrick McHenry’s opening remarks as delivered:
“Thank you, Chairwoman Waters, and thank you for holding this… Read more »
Today, the House Financial Services Committee held a hearing with Secretary of the Treasury Steven Mnuchin in his role as Chairman of the Financial Stability Oversight Council (FSOC) to discuss the Council’s work to identify and mitigate risks facing the U.S. financial system.
At the hearing, Committee Republicans expressed their concerns on issues including Democrats’ harmful financial… Read more »
WASHINGTON –Today, the House of Representatives passed H.R. 2534, the Insider Trading Prohibition Act. As a result of an amendment offered by the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), and accepted by the House, the bill received bipartisan support. While H.R. 2534 as amended does not include all Republican priorities, including an exclusivity… Read more »
WASHINGTON –Today, the House Financial Services Committee is holding a hearing with prudential regulators, including Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, Randal Quarles; Chair of the Federal Deposit Insurance Corporation, Jelena McWilliams; and Chair of the National Credit Union Administration, Rodney Hood.
… Read more »
Today, every Republican member of the House Financial Services Committee signed a letter to Chairwoman Maxine Waters (CA-43) expressing concern with the process by which documents, containing private American citizens’ personal financial information, may be transmitted to the House Judiciary Committee as part of the ongoing impeachment investigation. These documents were obtained through… Read more »
Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), sent a letter to Treasury Secretary Steven Mnuchin urging him to conduct an in-depth analysis of the impact of a financial transaction tax (FTT) on the U.S. economy.
As several Democrats have proposed and supported this new tax, claiming it will boost revenue while only placing a burden on the… Read more »
Today, the House Financial Services Committee is holding a hearing on the role of private equity in U.S. capital markets and their impact on the American economy. Committee Democrats attached several pieces of legislation to the hearing for consideration including the House companion to Senator Elizabeth Warren’s bill, H.R. 3848. One study found that in a “modest-case scenario,” the bill… Read more »
