Tagged: patrick mchenry

March 29, 2023 @ 9:11 am By JD Alois  |  

Federal regulators will return to Capitol Hill today to continue the discussion on the events that led up to the failure of multiple banks at a hearing of the House Financial Services Committee. Yesterday, regulators testified in front of the Senate Banking Committee. While little… Read More

March 21, 2023 @ 2:32 pm By JD Alois  |  

The House Financial Services Committee has scheduled its “first” hearing on the failure of Silicon Valley Bank and Signature Bank. The hearing will be held at 10:00 AM ET on March 29, 2023, and is said to be the first of multiple hearings the Committee… Read More

March 20, 2023 @ 7:03 pm By JD Alois  |  

The House Financial Services Committee is demanding answers on how regulators failed in their oversight of Silicon Valley Bank and Signature Bank. Chair of the Committee, Patrick McHenry, has been joined by the Ranking Member of the Senate Committee on Banking, Tim Scott, are requesting… Read More

March 17, 2023 @ 9:11 am By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, has issued a statement on the move by big banks to assist First Republic Bank. Yesterday, the largest banks in the US as well as two investment banks, announced $30 billion in deposits for First… Read More

March 2, 2023 @ 7:43 pm By JD Alois  |  

Congressman Patrick McHenry, Chair of the House Financial Services Committee, and Senator Cynthia Lummis, have co-authored a letter addressed to federal regulators demanding regulatory clarity on digital assets. Both elected officials are known for their support of Fintech innovation. Lummis has co-authored legislation aiming to… Read More

February 24, 2023 @ 7:32 pm By JD Alois  |  

Congressman Patrick McHenry, the Chairman of the House Financial Services Committee, has introduced the Data Privacy Act of 2023.  This bill aims to update financial data privacy laws, providing consumers with more control over how their personal information is collected and used. The movement to… Read More

February 23, 2023 @ 4:53 pm By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, and the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga, along with Senator Tim Scott, the ranking member on the Senate Banking Committee, have joined in sending a letter to SEC Chairman Gary… Read More

February 10, 2023 @ 6:32 pm By JD Alois  |  

Representative Bill Huizenga, the Chair of the Subcommittee on Oversight and Investigations, part of the House Financial Services Committee, has sent a letter to SEC Chair Gary Gensler demanding he hand over documents surrounding Sam Bankman-Fried and the collapse of the crypto exchange. The letter… Read More

February 6, 2023 @ 10:00 pm By JD Alois  |  

Doug Ellenoff, the managing partner of Ellenoff, Grossman, and Schole (EGS) – a Manhattan-based law firm, has been a supporter of innovation in financial services for many years now. A staunch proponent of the JOBS Act of 2012 before it became law, Ellenoff is a… Read More

February 3, 2023 @ 3:36 pm By JD Alois  |  

The House Financial Services Committee, under the leadership of Chair Patrick McHenry, has announced a new working group to address environmental, social, and governance proposals (ESG). Currently, the Securities and Exchange Commission (SEC) is pursuing ESG rules, more specifically in regards to climate impact disclosure…. Read More

February 1, 2023 @ 9:59 pm By JD Alois  |  

The House Financial Services Committee has announced its first round of hearings under the leadership of Chairman Patrick McHenry. First on the list is a full Committee hearing on the economic threat of China. Other hearings include the Subcommittee on Capital Markets scheduling a session on… Read More

February 1, 2023 @ 6:24 pm By JD Alois  |  

The Chair of the House Financial Services Committee, Patrick McHenry, issued a statement today as he led its Organizational Meeting for the 118th Congress. McHenry said that under his leadership, the Committee is ready to boost innovation as well as pursue policy that fosters economic… Read More

January 30, 2023 @ 9:06 pm By JD Alois  |  

The Expanding Access to Capital for Rural Job Creators Act, (HR 298) has passed the House of Representatives. The legislation has both Democrat and Republican sponsors. The legislation would require the Securities and Exchange Commission (SEC) to submit an annual report on the challenges rural… Read More

January 27, 2023 @ 11:40 am By JD Alois  |  

  Congressman Patrick McHenry, the Chairman of the powerful House Financial Services Committee, has announced the Committee staff for the 118th Congress. McHenry recently posted his newly formed subcommittees as well as each subcommittee Chair. The Congressman aims to shift the direction of legislation emanating… Read More

January 12, 2023 @ 4:46 pm By JD Alois  |  

Congressman Patrick McHenry, the new  Chair of the House Financial Services Committee, has named the Chairs of the Subcommittees. Yesterday, McHenry revealed the Republican members of the Committee as he moves to take over the influential Committee as the Republican-controlled 118th Congress commences. A new… Read More

January 11, 2023 @ 9:30 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has proposed a rule to establish a public registry of nonbank financial firms’ terms and conditions. The CFPB states that, in some cases, consumer rights are limited or waived, or terms are misleading. The CFPB states that non-banks would… Read More

January 11, 2023 @ 3:55 pm By JD Alois  |  

Congressman Patrick McHenry, the incoming Chair of the powerful House Financial Services Committee, has announced the Republican members of the Committee for the 118th Congress. McHenry issued the following statement on the Committee members: “I’m proud to welcome all of our new and returning members… Read More

December 19, 2022 @ 3:06 pm By JD Alois  |  

The incoming Chair of the House Committee on Financial Services, Patrick McHenry, has issued a statement that he plans to add Financial Services Innovation Offices (FSIOs) back on the agenda. As the Republicans will take over the House in January after gaining the majority in… Read More

December 15, 2022 @ 12:40 pm By JD Alois  |  

This past Tuesday, the House Committee on Financial Services hosted a hearing with a single witness – John J. Ray, III, the new CEO of FTX. Originally, the Committee had scheduled the former CEO of FTX, Sam Bankman-Fried, to testify, but his arrest the day… Read More

December 7, 2022 @ 6:35 pm By JD Alois  |  

Congressman Patrick McHenry has been selected as the incoming Chair of the House Financial Services Committee. The House Republican Steering Committee made the move in advance of the 118th Congress, which commences in January when the Republicans take over leadership of the House. McHenry’s selection… Read More