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Crowdfunding to Combat the Coronavirus Act: Proposed Legislation Creates $1 billion Prize to Crowdfund COVID-19 Vaccine
Mar 12, 2020
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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 tha...
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Relief for Small Businesses Through Micro-Offerings Act of 2020: Legislation Seeks to Create Micro-Offering Hosted by Funding Portals
Mar 12, 2020
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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...
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Round Two: Committee Holds Second Hearing to Discuss Past Wells Fargo Failures
Mar 11, 2020
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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 ...
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McHenry: There are Serious Things Happening in the World While We’re Having This Hearing
Mar 10, 2020
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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 th...
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Republican Committee Leaders Call on Financial Stability Oversight Council to Prepare for Coronavirus Impact
Mar 10, 2020
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WASHINGTON – Today, House Financial Services Committee Republican leaders, led by Ranking Member Patrick McHenry (NC-10), sent a letter to the Chairman of the Financial Stability Oversight Council (FSOC), Secretary Steven Mnuchin. In the letter, Committee leaders requested FSOC convene a meeting to ...
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McHenry Statement on Wells Fargo Board Member Resignations
Mar 9, 2020
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Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in response to the resignation of Wells Fargo Board Chair Elizabeth Duke and Board Member James Quigley: “Fresh perspectives on the Board will help move Wells Fargo forward. ...
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Republicans Issue Third Report on Wells Fargo Mismanagement, Democrats’ Failure to Address Bank’s Unique Flaws
Mar 5, 2020
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WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), and Republican leader of the Subcommittee on Oversight and Investigations, Andy Barr (KY-6), issued the third Republican staff report on Wells Fargo’s sales practices scandal. The report found W...
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Waters, McHenry, Cleaver and Hill to Launch Inaugural Counter-Trafficking Initiative
Mar 4, 2020
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Note: At 10:00 am ET TODAY the Subcommittee on National Security, International Development, and Monetary Policy will launch the Counter-Trafficking Initiative with a hearing entitled: The Traffickers’ Roadmap: How Bad Actors Exploit Financial Systems to Facilitate the Illicit Trade in People, Anima...
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McHenry to Waters: The FTT is a Tax on Americans’ Retirement Savings
Mar 4, 2020
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Republican Leader of the House Financial Services Committee, Patrick McHenry (NC-10), sent a letter to Chairwoman Maxine Waters (CA-43), urging her to hold a hearing on the potentially devastating impact of Democrats’ proposed Financial Transaction Tax (FTT) on Americans’ retirement savings. WATCH: ...
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House Passes Four Financial Services Bills, Including Republican Measure to Combat Chinese Aggression
Mar 2, 2020
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Today, the U.S. House of Representatives passed four bipartisan Financial Services bills, including legislation introduced by the Republican Leader of the Subcommittee on National Security, International Development, and Monetary Policy, French Hill (AR-2), to combat the generational threat posed by...
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