News List

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 penalties banks face for incremental… Read more »

As coronavirus (COVID-19) continues to affect Americans from all walks of life, borrowers can take action now to mitigate the impact of a missed mortgage payment. The Federal Housing Finance Agency (FHFA) and Federal Housing Administration (FHA) have taken steps to remind borrowers of hardship forbearance options. Ranking Republican Patrick McHenry (NC-10) issued the following statement… Read more »

Today, Republican leaders of the House Financial Services Committee, led by Ranking Republican Patrick McHenry (NC-10), sent a letter to Consumer Financial Protection Bureau (CFPB) Director, Kathleen Kraninger, asking for her assistance in protecting seniors from coronavirus-fueled scams. The Republican Committee leaders wrote, “In light of the evolving nature of the coronavirus, there… Read more »

WASHINGTON – Today, the Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), and Republican leader of the Subcommittee on Housing, Community Development, and Insurance, Steve Stivers (OH-15), sent letters to the nation’s largest Public Housing Authority (PHA) leaders urging them to implement policies to protect vulnerable residents from the coronavirus… Read more »

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to President Trump’s national emergency declaration to combat the coronavirus (COVID-19): “The President has called for a whole-of-government response to the coronavirus pandemic. By declaring a national emergency, President Trump is taking the… Read more »

Today, Republican leaders of the House Financial Services Committee introduced eight bills in the ongoing effort to combat the economic and public health impact of coronavirus (COVID-19) through innovation and technology solutions. In response to President Trump’s call for a whole-of-government approach, Republicans are proposing these first steps to help businesses of all sizes,… Read more »

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 that is “affordable and widely available.”  Any potential vaccine must be determined… Read more »

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, the Ranking Member on the House Financial Services Committee, has submitted a… Read more »

Today, the House Financial Services Committee held its second in a series of three hearings this month on Wells Fargo. The Committee heard from Elizabeth Duke and James Quigley, former members of the Wells Fargo Board during the 2016 sales practices scandal. The third Republican staff report issued last week found that both Duke and Quigley did not ensure the company was making progress… Read more »

Today, the House Financial Services Committee held a hearing with Wells Fargo CEO Charles Scharf. Last week, Committee Republicans issued the third Republican staff report on Wells Fargo’s sales practices scandal, which proves the Bank was not too big to manage—but was grossly mismanaged. This is the first in a series of three hearings scheduled by Committee Democrats on Wells Fargo… Read more »