House Financial Services Committee Chairman Patrick McHenry (NC-10) issued a statement today in response to the Consumer Financial Protection Bureau's (CFPB) notice of proposed rulemaking, which aims to exclude medical debt from credit reports.
On June 11, 2024, U.S. Representative Mike Flood (NE-01) led Republicans on the House floor as lawmakers debated H.R. 537, the Forgotten Heroes of the Holocaust Congressional Gold Medal Act. The proposed legislation seeks to posthumously award the Congressional Gold Medal to 60 diplomats in recognition of their efforts to save Jews from the Nazis during the Holocaust.
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced an upcoming hearing. The Full Committee Hearing is entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.”
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a hearing titled "Oversight of the FDIC’s Failed Leadership and Toxic Workplace Culture." The hearing is scheduled for 10:00 AM ET on Wednesday, June 12, 2024, at the 2128 Rayburn House Office Building.
The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, chaired by French Hill (AR-02), convened today for a hearing titled “Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets.”
House Financial Services Committee Chairman Patrick McHenry (R-NC) and U.S. Senator Cynthia Lummis (R-WY) led a letter to President Joe Biden urging him to reconsider his threat to veto Staff Accounting Bulletin (SAB) 121 Congressional Review Act (CRA), which passed the Senate and House with strong bipartisan support.
Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a forthcoming hearing by the Subcommittee on Digital Assets, Financial Technology and Inclusion. The hearing is titled "Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets."
On May 23, 2024, the U.S. House of Representatives passed H.R. 5403, known as the CBDC Anti-Surveillance State Act. Sponsored by Majority Whip Tom Emmer (MN-06), this legislation aims to prevent the issuance of a central bank digital currency (CBDC) without explicit authorization from Congress.
House Financial Services Committee Chairman Patrick McHenry (NC-10) has sent letters to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, Acting Comptroller of the Currency Michael Hsu, and FDIC Director Johnathan McKernan. The letters demand their appearance before the Committee to testify following an independent report that confirmed accounts of widespread misconduct at the FDIC.
On May 22, 2024, Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), led Republicans in debating H.R. 4763, the Financial Innovation and Technology (FIT) for the 21st Century Act on the House floor. The FIT21 Act aims to provide comprehensive federal guidelines for the U.S. digital asset ecosystem, ensuring robust consumer protections and regulatory certainty.
House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02), and Oversight and Investigations Subcommittee Chairman Bill Huizenga (MI-04) have sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler. The lawmakers are demanding the SEC clarify its position regarding Prometheum’s recent announcement that it will offer custody services for Ethereum’s token, Ether (ETH).
The U.S. House of Representatives has passed H.R. 4763, the "Financial Innovation and Technology for the 21st Century Act" (FIT21), marking a significant moment for the digital asset ecosystem in the United States. The legislation aims to provide robust consumer protections and regulatory certainty to foster innovation in digital assets.
Congressman French Hill, Chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion, testified before the House Committee on Rules in support of H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21), and H.R. 5403, the CBDC Anti-Surveillance State Act.
On May 21, 2024, the House passed two bills honoring America's working dogs and a Congressional Gold Medal recipient. Chairman Patrick McHenry (NC-10) delivered remarks in support of H.R. 807 and H.R. 1097.
On May 20, 2024, Patrick McHenry (NC-10), Chairman of the House Financial Services Committee, issued a statement in response to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg's announcement of his intent to resign once a successor is confirmed.
The House Financial Services Committee has advanced a series of bills to the full House for consideration. These bills encompass a wide range of financial services issues, from promoting access to capital in underbanked communities to enhancing transparency within Community Development Financial Institutions (CDFIs).
The Chairman of the House Financial Services Committee, Patrick McHenry (R-NC), Ranking Member Maxine Waters (D-CA), U.S. Senator Mike Crapo (R-ID), and U.S. Senator Mark Warner (D-VA) have sent a letter to federal financial regulators. They urge these regulators to fulfill their respective obligations under the Financial Data Transparency Act (FDTA) as directed by the National Defense Authorization Act for Fiscal Year 2023 (FY23 NDAA) within the timeline set forth by the FDTA.
On May 16, 2024, the House Financial Services Committee convened to review various measures. The focus of the meeting was on financial institutions, capital markets, and housing legislation aimed at enhancing efficiency and accountability in federal agencies while expanding economic opportunities.
Patrick McHenry, the Chairman of the House Financial Services Committee, has issued a statement in response to the Supreme Court of the United States (SCOTUS) ruling on the case of Consumer Financial Protection Bureau et al. v. Community Financial Services Association of America, Ltd., et al.
On May 15, 2024, the House Financial Services Committee, under the leadership of Chairman Patrick McHenry (NC-10), held a hearing to conduct oversight of President Biden's prudential banking regulators. The committee scrutinized Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg following Cleary Gottlieb’s independent report confirming allegations of widespread misconduct and a toxic workplace culture at the agency during his tenure. Members also closely examined regulators’ Basel III Endgame proposal among other partisan regulatory initiatives.