Off Air Next: Who Is Standing Up for Consumers? A Semi-Annual Review of the Consumer Financial Protection Bureau

Ranking Member McHenry Announces New Member of Financial Services Committee

WASHINGTON – House Republicans have selected Congressman William Timmons (SC-4) 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 Timmons’ experience as a small business owner will make him a valuable addition to the Financial Services Committee as Republicans continue to work to find solutions for investors, consumers, and job creators of all sizes. I look forward to working ...

McHenry: The reality is that prices increase for all when some decline to pay

The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), delivered the following opening statement at a full committee hearing on debt collection practices and the best solutions for consumers and small business owners: “Thank you, Madam Chair, and thank you to the witnesses for being here. “A CFPB survey conducted in 2017 found that 63 percent of consumers said they were contacted too frequently by a creditor or debt collector. “In 2018, the Consumer Financial Prot...

Ranking Member McHenry Commends SEC Move to Strengthen Capital Markets

WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10) issued the following statement in response to the U.S. Securities and Exchange Commission’s (SEC) new rule to extend the “test-the-waters” accommodation to all issuers, enabling them to gauge market interest in initial public offerings (IPOs): “I applaud the SECs commitment to strengthening our public markets, which gives everyday American investors a greater opportunity to grow their savings. The ...

GOP Lawmaker Calls for Fed to Detail Its Cybersecurity

Rep. Patrick McHenry introduces bill requiring central bank to report on security preparations The top Republican lawmaker on an influential House committee wants the Federal Reserve to be more open about its cybersecurity preparations. Rep. Patrick McHenry (R., N.C.), the ranking member of the House Financial Services Committee, this week introduced legislation that would compel the Fed to report annually to House and Senate banking committees on detailed points regarding its cybersecurity stra...