Financial Services Committee | Republicans

McHenry Applauds Volcker Rule Decision August 20, 2019 - WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Federal Deposit Insurance Corporation’s (FDIC) vote to amend the Volcker rule: "I have long advocated for reasonable reform of the Volcker rule—...More

McHenry presses Fed on supervision of Capital One following data breach August 7, 2019 - Rep. Patrick McHenry (R-N.C.) today pressed Federal Reserve regulatory chief Randal Quarles for more information about the central bank's supervision of Capital One following a massive data breach at the bank. "I ask that you provide information on the Capital One breach, including an indication of ...More

Will GOP Credit Reporting Bill Gain Bipartisan Support? August 6, 2019 - Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.). Unlike earlier bills that have passed throu...More

McHenry Supports CFPB Effort to Protect Taxpayers July 25, 2019 - WASHINGTON – Today, Republican leader of the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in support of the Consumer Financial Protection Bureau’s (CFPB) decision to end the Qualified Mortgage (QM) patch for GSEs: “As I’ve said many times, we need to ...More

McHenry: Dodd-Frank Made the Largest Banks Larger While Suffocating Smaller Institutions July 24, 2019 - WASHINGTON – Today, the House Financial Services Committee is holding a hearing on the proposed merger of BB&T and SunTrust Bank. Despite Committee Democrats’ rhetoric, the partisan Dodd-Frank Act—which imposed overly burdensome regulations and increased the cost of compliance—has ensured the size ...More

Republicans Shed Light on the Impact of Dodd-Frank on Financial Institutions July 24, 2019 - WASHINGTON – Today, the full committee held a hearing to examine the proposed merger of BB&T and SunTrust Bank. Committee Republicans questioned the banks’ CEOs on the thorough review process they are complying with in order to merge, as well as their efforts to support and protect their customers w...More

House bill would reform credit reporting agencies July 23, 2019 - Legislation introduced in the U.S. House of Representatives last week seeks to reform the supervision of credit reporting agencies. The bill, introduced by Rep. Patrick McHenry (R-NC), is designed to ensure that credit files are accurate and transparent and personally identifiable information is pro...More

McHenry Proposes New Solution to Protect American Families’ Sensitive Information and Access to Credit July 19, 2019 - 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 inc...More

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