Today, the House Financial Services Committee is holding a hearing with Comptroller of the Currency Joseph Otting on the recent joint proposal from the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to modernize the Community Reinvestment Act (CRA). Republican members of the Committee will examine how the proposed rule will strengthen… Read more »
Republican Leader of the House Financial Services Committee Patrick McHenry (NC-10) is seeking answers from Clearview AI, following concerning reports that the company has developed a facial recognition tool based on a collection of images of people’s faces scraped from the internet, including “employment sites, news sites, educational sites, and social networks including Facebook,… Read more »
Today, Republican Leader of the House Financial Services Committee Patrick McHenry (NC-10) delivered remarks on the House floor in opposition to Democrats’ partisan legislation, H.R. 3621, appropriately renamed by Republicans as the “Cutting Consumers’ Credit Act.” This bill will weaken underwriting standards making it more difficult and costly for Americans from all walks of life to… Read more »
Today, House Republicans selected Congressman Van Taylor (TX-3) to serve on the House Financial Services Committee. The top Republican on the Committee, Patrick McHenry (NC-10), issued the following statement in response:
“Congressman Van Taylor’s experience in the financial services sector will make him a valuable addition to our Committee. Having represented the Dallas metroplex first… Read more »
Last year, the Financial Services Committee heard directly from the CEOs of America’s seven largest banks. When asked what kept these leaders up at night, a majority cited cyberattacks as the greatest risk they faced — not productivity growth, not political upheaval overseas, not an economic slowdown in China. Threats… Read more »
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 »
