Today in the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets at a hearing entitled “An Examination of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board,” members from both sides of the aisle expressed serious concern with FASB’s CECL accounting standard. During his questioning, Congressman Blaine Luetkemeyer (MO-03) raised… Read more »
Today, the House Financial Services Committee is holding a hearing on housing affordability challenges, which are most acutely experienced in high-cost, high-tax cities that have enacted counterproductive zoning laws and regulations. Republican Committee Members are examining the local barriers that have worsened the housing affordability problem and holistic ways to address… Read more »
WASHINGTON – Today, the House Financial Services Committee held a hearing on the causes of rising housing costs – most notably, counterproductive state and local regulatory and zoning laws. Republican Committee Members highlighted the negative impact of these local barriers on the cost of construction and how much housing can be built, which ultimately puts more low-income families at… Read more »
Today, the House of Representatives passed H.R. 4458, the “Cybersecurity and Financial System Resilience Act of 2019,” a bill introduced by the Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10).This legislation, which advanced out of the Committee with broad, bipartisan support in October, will ensure regulators are prioritizing… Read more »
House Minority Leader Kevin McCarthy (CA-23), Minority Whip Steve Scalise (LA-1), and a majority of the Republican members of the House Financial Services Committee, led by Ranking Member Patrick McHenry (NC-10) filed an amicus brief to assist the Supreme Court as it considers the constitutionality of the Consumer Financial Protection Bureau (CFPB). The case—Seila Law LLC v. Consumer… Read more »
Today, Republican leader of the House Financial Services Committee Patrick McHenry (NC-10) took to the House floor to speak in opposition to the Democrats’ partisan attempt to undo the 2016 election. The Financial Services Committee was one of six instructed by the Speaker to transfer records to the Judiciary Committee to support the Democrats’ three-year effort to impeach the President.… Read more »
Today, the House of Representatives passed bipartisan legislation to reauthorize the Export-Import (Ex-Im) Bank, Terrorism Risk Insurance Act (TRIA), and extend the National Flood Insurance Program (NFIP), as part of Fiscal Year 2020 appropriations legislation. The Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement on… Read more »
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 »
