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Republicans Fight Democrat Proposals to Impede Credit Access, Increase Cost

| Posted in Press Releases

WASHINGTON – House Financial Services Committee Democrats brought several pieces of legislation before the full committee for a markup. In all, ten bills were considered, six of which addressed diversity and inclusion and housing, receiving bipartisan support. However, the remaining four bills to amend the Fair Credit Reporting Act (FCRA), received solely Democrat, partisan backing.…

McHenry Continues Push for Regulatory Relief, Financial Inclusion, & Innovation at Fed Hearing

| Posted in Press Releases

WASHINGTON – Today, the House Financial Services Committee held its semi-annual hearing with Federal Reserve Chairman Jerome Powell on monetary policy and the state of the economy. Republican leader of the Committee, Patrick McHenry (NC-10), delivered opening remarks highlighting the positive economic trends as a result of Republican tax cuts and regulatory reform. To ensure continued…

Rep. Patrick McHenry on Fed Independence

| Posted in In Case You Missed It

Fed Chair Jay Powell is set to testify later Wednesday morning in front of the House Financial Services Committee as well as the Senate Banking Committee on Thursday. Rep. Patrick McHenry (R-N.C.), who is the ranking member of the Financial Services Committee, joins "Squawk Box" to discuss what he expects from the hearings. Rep. Patrick McHenry on Fed independence, whether…

House Passes Republican-Led Bills to Bolster Small Business Access to Capital

| Posted in Press Releases

WASHINGTON – Today, the U.S. House of Representatives advanced two Republican-led Financial Services bills: H.R. 2919, the “Improving Investment Research for Small and Emerging Issuers Act,” introduced by Congressman Bill Huizenga (MI-02), and H.R. 3050, the “Expanding Investment in Small Businesses Act of 2019,” introduced by Congressman Bryan Steil (WI-01). Each bill requires the…

Ranking Member McHenry Applauds Signing of the Taxpayer First Act

| Posted in Press Releases

WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after President Trump signed H.R. 3151, the Taxpayer First Act of 2019 into law. This legislation included provisions from H.R. 2007, the IRS Data Verification Modernization Act of 2019, introduced by Ranking Member McHenry and Congressman Earl…

Hill leads new bipartisan AI task force on mission to foster innovation in financial sector

| Posted in In Case You Missed It

The simulation of human intelligence processes by computer systems is not without both benefits and challenges, said U.S. Rep. French Hill (R-AR), ranking member of the U.S. House Financial Services Committee Task Force on Artificial Intelligence (AI), during its first meeting on Wednesday. “Over the next few months, I look forward to working with my colleagues on both sides of the aisle…

Rep. McHenry calls for a hearing on Facebook’s cryptocurrency: ‘We should be better informed’

| Posted in In Case You Missed It

Rep. Patrick McHenry wants to know about Facebook’s plans for its cryptocurrency. “There are so many open questions here, and I think we should actually be better informed,” he says. Facebook announces on Tuesday it will launch its cryptocurrency in 2020. Rep. Patrick McHenry has questions about Facebook’s plan for its cryptocurrency. The Republican from North…

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