Off Air Next: Hearing Entitled: The Community Reinvestment Act: Is the OCC Undermining the Law’s Purpose and Intent?
Regulatory Relief

Ranking Member McHenry Announces New Member of Financial Services Committee

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 in the Texas state legislature and now in the House, he understands the important role the financial services ...

Morning Consult: Why Protecting Financial Institutions From Cyberattacks Is an Urgent Matter

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 to cybersecurity topped their list. A recent survey found that no less than two-thirds of large financial institutions had experienced an increase in cyberattacks over the previou...

House Financial Services Subcommittee Unanimously Expresses Concern Over CECL

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 concerns regarding access to credit for American families and the pro-cyclical nature of CECL which threaten...

McHenry: To Address the High Cost of Housing, We Need to Address the Root Cause of Local Issues

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 homelessness. Watch Republican Leader of the House Financial Services Committee, Patrick McHenry’s (NC-10), opening remark...