Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.).
Unlike earlier bills that have passed through committee without any Republican votes, this bill could have legs, with Rep. McHenry,… Read more »
WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), sent a letter to Vice Chair for Supervision at the Federal Reserve, Randal Quarles, following the recent Capital One Financial Corporation data security breach that affected nearly 100 million Americans. The Ranking Member asked the Federal Reserve to provide information on the… Read more »
Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in response to the Capital One Financial Corporation data security breach:
"The Capital One data breach is a stark reminder of the need for stringent data security standards for financial institutions, third-party service providers, and any other entity with… Read more »
WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in support of the Consumer Financial Protection Bureau’s (CFPB) decision to end the Qualified Mortgage (QM) patch for GSEs:
“As I’ve said many times, we need to explore all paths that lead to responsibly ending the government sponsorship of Fannie Mae… Read more »
WASHINGTON – Today, the House Financial Services Committee is holding a hearing on the proposed merger of BB&T and SunTrust Bank. Despite Committee Democrats’ rhetoric, the partisan Dodd-Frank Act—which imposed overly burdensome regulations and increased the cost of compliance—has ensured the size of a financial institution equals survival.
Watch Ranking Member… Read more »
WASHINGTON – Today, the full committee held a hearing to examine the proposed merger of BB&T and SunTrust Bank. Committee Republicans questioned the banks’ CEOs on the thorough review process they are complying with in order to merge, as well as their efforts to support and protect their customers while navigating the burdensome Dodd-Frank regulatory framework.
Republican leader of… Read more »
Legislation introduced in the U.S. House of Representatives last week seeks to reform the supervision of credit reporting agencies.
The bill, introduced by Rep. Patrick McHenry (R-NC), is designed to ensure that credit files are accurate and transparent and personally identifiable information is protected.
“The credit reporting industry is ripe for reform,” McHenry said.… Read more »
WASHINGTON – Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), introduced new legislation to address glaring issues within the credit reporting industry, which endanger the security of Americans’ most personal information and impede access to credit.
H.R. 3821 includes several reforms to thoroughly and appropriately supervise credit reporting agencies,… Read more »
WASHINGTON – Today, the House Financial Services Committee is holding a hearing to learn more about Facebook’s recently announced digital currency proposal, Project Libra. Republican leader of the Committee, Patrick McHenry (NC-10), who called for this hearing last month, delivered opening remarks urging his colleagues to fight the knee-jerk reaction of Washington to stifle innovation and… Read more »
WASHINGTON – Today’s House Financial Services Committee hearing on Facebook’s digital currency proposal, Project Libra, provided an opportunity for Republican committee members to “go beyond the headlines” as Ranking Member Patrick McHenry (NC-10) called for in his opening remarks. Republicans pressed Facebook’s David Marcus on issues ranging from the association’s plan to comply with… Read more »
