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McHenry Applauds Supreme Court Ruling on CFPB’s Unconstitutional Structure
Jun 29, 2020
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Today, the U.S. Supreme Court ruled in Seila Law LLC v CFPB that the Consumer Financial Protection Bureau’s (CFPB) leadership structure is unconstitutional. The Court agreed with arguments made by House Republican leadership and Financial Services Committee Republicans that the CFPB's leadership str...
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House Democrats Advance Partisan Housing, Credit Reporting, and Anti-Modernization Legislation
Jun 29, 2020
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Today, House Democrats advanced three partisan Financial Services’ measures to codify longstanding Democrat priorities under the guise of coronavirus relief and consumer support. H.R. 7301:This bill authorizes hundreds of billions of dollars in new spending, effectively tripling HUD’s FY2020 appropr...
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McHenry Applauds FDIC’s Move to Revamp Regulations that Hinder Financial Innovation
Jun 25, 2020
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Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Federal Deposit Insurance Corporation’s (FDIC) vote to finalize its Valid-When-Made rule and amend the overly-burdensome Volcker rule: “The regulatory uncer...
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Subcommittee Holds Hybrid Hearing on SEC’s Response to COVID-19 to Stabilize Capital Markets
Jun 25, 2020
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Today, the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets held a hearing with the Securities and Exchange Commission (SEC) Chairman, Jay Clayton. Committee Republicans focused on the Commission's work to stabilize capital markets and reduce regulatory burdens on businesse...
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ICYMI: McHenry Joins After the Bell to Discuss Path Forward on COVID-19 Economic Relief
Jun 18, 2020
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Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), joined After the Bell on Fox Business to discuss next steps in the effort to combat the economic crisis caused by the coronavirus public health crisis. The Ranking Member also stressed the importance of a plan to r...
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McHenry: The Fed’s Rapid and Decisive Action Prevented the Worst Effects of this Economic Catastrophe
Jun 17, 2020
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Today, the Financial Services Committee is holding a virtual hearing with Federal Reserve Chairman Jerome Powell on the state of our economy and the Federal Reserve’s actions to respond to the economic crisis caused by the global health crisis. Watch Ranking Republican Patrick McHenry’s (NC-10) open...
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Subcommittee Holds Virtual Hearing on Risks Posed to American Financial System by Cybercrime
Jun 16, 2020
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Today, the Subcommittee on National Security, International Development, and Monetary Policy held a virtual hearing on the increased threat of coronavirus-fueled cyberattacks against our financial institutions and vulnerable Americans. “Cybersecurity and the need for strong cyber protocols has long ...
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Main Street Lending Program Lender Registration is Now Open
Jun 15, 2020
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Today, the Federal Reserve opened lender registration for the Main Street Lending Program (MSLP), signaling the program will soon be operational. The MSLP will support small and mid-sized businesses, and their employees, that were in good financial standing before the public health crisis by ensurin...
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FinTech Task Force Holds Virtual Hearing on Use of Digital Tools to Increase Financial Inclusion
Jun 11, 2020
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Today, the Task Force on Financial Technology held a virtual hearing on the role that new technologies, like the digital dollar, play in fostering greater financial inclusion for the underbanked. These emerging technologies also offer a solution for swiftly disbursing government assistance—such as s...
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Paycheck Protection Program is Supporting our Nation’s Economic Recovery
Jun 10, 2020
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WASHINGTON – Over the past few months, American families and businesses have stood strong through an unprecedented economic dislocation as a result of the coronavirus pandemic. The Trump Administration and Congress have worked at a breakneck pace to stand up programs to support hardworking Americans...
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