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 that while the next big threat to the global economy is difficult to identify, "if we… Read more »
This week, the House Committee on Financial Services held a mark-up of five pieces of legislation:
H.R. 389, the "Kleptocracy Asset Recovery Rewards Act"
H.R. 1856, the "Ending Homelessness Act of 2019"
H.R. 1815, the "SEC Disclosure Effectiveness Testing Act"
H.R. 1595, the "Secure and Fair Enforcement Banking Act of 2019"
H.R. 1500, the "Consumers First… Read more »
In response to a speech given by Dr. Peter Navarro, Director of the Office of Trade and Manufacturing Policy, at the 2019 Annual Conference of the Export-Import Bank of the United States (EXIM), House Financial Services Committee Ranking Member Patrick McHenry (NC-10) released the following statement:
“As antagonistic regimes like China continue to prop up their domestic… Read more »
WASHINGTON – This week, Republican leaders of the House Financial Services Committee, Patrick McHenry (NC-10) and the Consumer Protection and Financial Institutions Subcommittee, Blaine Luetkemeyer (MO-03), sent a letter to Chairs Maxine Waters and Gregory Meeks requesting they delay consideration of H.R. 1595, “until the Committee has a better understanding of the full range of… Read more »
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 accumulate debt.
Rep. Patrick McHenry (R-NC) called for programmatic reforms including… Read more »
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 struggles we face in Washington to reach fundamental regulatory… Read more »
WASHINGTON – At today’s House Financial Services Committee hearing on reauthorization of the National Flood Insurance Program (NFIP), Republican committee members highlighted the need to modernize the 51 year old program that continues to accumulate debt.
In a January letter to Chairwoman Maxine Waters, Ranking Member McHenry listed NFIP reform as a top priority and urged the Chairwoman… Read more »
WASHINGTON – Today, the House Financial Services Committee held a hearing to receive testimony from Wells Fargo CEO, Tim Sloan. Republican members of the committee examined the Bank’s efforts to identify and remediate all impacted customers as well as change the culture that contributed to widespread misconduct, including the creation of an estimated 3.5 million unauthorized accounts, in… Read more »
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 profile and revised incentive pay for retail bankers that had led to previous… Read more »
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 Act,” to break up big banks with a record of consumer abuse.
Waters also said regulators… Read more »
