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Covid-19 Updates Regulatory Relief

McHenry, Crapo Call on Treasury and Federal Reserve to Fully Utilize COVID-19 Relief Funds

Today, Republican leader of the House Committee on Financial Services, Patrick McHenry (R-NC), and Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, Mike Crapo (R-ID), urged the Treasury Secretary and Federal Reserve Chairman to utilize the remaining funds in the Exchange Stabilization Fund (ESF) to its fullest extent. The ESF provides a critical economic backstop with the potential to unleash trillions of dollars in liquidity to support businesses and employees in need. I...

Republican Leaders to Pelosi: Support for Small Businesses in Need is Non-Negotiable

Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), and Republican leader of the House Small Business Committee, Steve Chabot (OH-1), sent a letter to Speaker Nancy Pelosi calling on her to abandon Democrats’ socialist wish list and focus on bipartisan policies to help small businesses and their employees impacted by COVID-19. With the bipartisan Paycheck Protection Program (PPP) set to lapse at the end of the week and still no agreement reached on the ne...

Diaz-Balart, McHenry, Granger, McCaul Commend Nomination of Mauricio Claver-Carone

Representatives Mario Diaz-Balart (FL-25), Patrick McHenry (NC-10), Kay Granger (TX-12), and Michael McCaul (TX-10) released the following statement regarding the nomination of Mauricio Claver-Carone to be the next President of the Inter-American Development Bank (IDB). “Mauricio would be the first American, and the first Hispanic American, at the helm of this important regional institution,” said the representatives. “If elected to that position, it would be an acknowledgment of the confidence ...

Democrats Again Forego Bipartisanship, Push Through Harmful Financial Services Funding Bill

Today, the House Democrats passed their second package of Fiscal Year 2021 appropriations bills, including financial services funding. The partisan package will negatively impact investors, prop-up unfounded postal banking, and support the Chinese Communist Party. The Garcia/Waters amendment, a Special Drawing Rights allocation at the International Monetary Fund (IMF), would provide billions of dollars in no-strings-attached liquidity to China, Russia, and the world’s foremost state sponsor of t...