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Republicans Call for Meaningful Reform of National Flood Insurance Program
Mar 13, 2019
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WASHINGTON – At today’s House Financial Services Committee hearing on reauthorization of the National Flood Insurance Program (NFIP), Republican committee members highlighted the need to modernize the 51 year old program that continues to accumulate debt. In a January letter to Chairwoman Maxine Wat...
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Republicans Press Wells Fargo CEO on Efforts to Reform Harmful Culture
Mar 12, 2019
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WASHINGTON – Today, the House Financial Services Committee held a hearing to receive testimony from Wells Fargo CEO, Tim Sloan. Republican members of the committee examined the Bank’s efforts to identify and remediate all impacted customers as well as change the culture that contributed to widesprea...
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Ranking Member McHenry: Congress Created One of the Most Powerful and Unaccountable Bureaucracies Ever
Mar 7, 2019
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WASHINGTON – Today, the House Financial Services Committee held its semi-annual hearing to receive testimony from the Consumer Financial Protection Bureau (CFPB) Director, Kathy Kraninger. Republican leader of the Committee, Patrick McHenry (NC-10), began by highlighting the flawed organization of t...
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Republican Priorities Included in Financial Services Committee Views & Estimates Document
Mar 6, 2019
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WASHINGTON – Today, the House Financial Services Committee held a markup to consider and approve the views and estimates for matters within the committee’s jurisdiction for fiscal year 2020. Republican committee members offered 7 amendments to the Democrats’ proposed views, including multiple amendm...
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Republicans Press Powell on Balance Sheet & Economic Outlook
Feb 27, 2019
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WASHINGTON – Today, Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee at the semiannual hearing entitled: Monetary Policy and the State of the Economy. Republican Leader of the House Financial Services Committee, Patrick McHenry (NC-10), began by highligh...
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Financial Services Republican Leader Examines Lack of Innovation, Competition in Credit Reporting System
Feb 26, 2019
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WASHINGTON – Today, CEO’s of the three major Credit Reporting Agencies, Equifax, TransUnion, and Experian North America, testified before the House Financial Services Committee at a hearing entitled: Who's Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System. Republican Le...
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Republicans Push for Comprehensive Approach to Addressing Homelessness
Feb 13, 2019
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WASHINGTON – Today, the House Financial Services Committee held its first full committee hearing of the 116th Congress entitled Homeless in America: Examining the Crisis and Solutions to End Homelessness. Ranking Member Patrick McHenry (NC-10) delivered an opening statement highlighting the far-reac...
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Financial Institutions Subcommittee Examines Proposed Cannabis Banking Legislation
Feb 13, 2019
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WASHINGTON – Today, the Subcommittee on Consumer Protection and Financial Institutions held its first hearing of the 116th Congress entitled Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses to consider the Secure and Fair Enforcement (SAFE) Banking Act of 2019. Th...
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McHenry Applauds Nomination of Malpass for World Bank President
Feb 6, 2019
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WASHINGTON – Congressman Patrick McHenry (NC-10), Republican leader of the House Financial Services Committee, issued the following statement in support of the nomination of Treasury Under Secretary David Malpass to be the next President of the World Bank: “I applaud the Trump Administration for pro...
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House Financial Services Ranking Member on CFPB Proposed Rulemaking on Payday Lending
Feb 6, 2019
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WASHINGTON – Congressman Patrick McHenry (NC-10), Republican leader of the House Financial Services Committee, issued the following statement after the Consumer Financial Protection Bureau (CFPB) announced two Notices of Proposed Rulemaking (NPRMs) that update the Bureau's stance on payday loans: “I...
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