WASHINGTON – Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), introduced new legislation to address glaring issues within the credit reporting industry, which endanger the security of Americans’ most personal information and impede access to credit. H.R. 3821 includes several reforms to thoroughly and appropriately supervise credit reporting agencies, ensuring accurate and transparent credit files and the protection of personally identifiable information. Ran...
WASHINGTON – Today, the House Financial Services Committee is holding a hearing to learn more about Facebook’s recently announced digital currency proposal, Project Libra. Republican leader of the Committee, Patrick McHenry (NC-10), who called for this hearing last month, delivered opening remarks urging his colleagues to fight the knee-jerk reaction of Washington to stifle innovation and instead, work to fully understand it. Watch Ranking Member McHenry’s opening remarks here or by clicking on ...
WASHINGTON – Today’s House Financial Services Committee hearing on Facebook’s digital currency proposal, Project Libra, provided an opportunity for Republican committee members to “go beyond the headlines” as Ranking Member Patrick McHenry (NC-10) called for in his opening remarks. Republicans pressed Facebook’s David Marcus on issues ranging from the association’s plan to comply with existing regulation, to this project’s potential to increase financial inclusion. Committee Democrats continued ...
Amid bipartisan backlash against Libra, Facebook’s new cryptocurrency project, some House Republicans are urging Congress to keep an open mind about emerging technologies. The top Republican on the House Financial Services committee warned his colleagues not to make Facebook a “political talking point,” as Facebook faced a second day of questions and criticism from lawmakers on Capitol Hill. “Washington must go beyond the hype and ensure that it’s not the place where innovation goes to die,” sai...
