United States House Committee On Financial Services News

House subcommittee announces hearing on global governance transparency

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced an upcoming hearing for the Financial Institutions and Monetary Policy Subcommittee. The hearing is titled "Transparency in Global Governance."

House Financial Services Committee announces rescheduled hearings on DeFi and ESG standards

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearings:

Lawmakers respond to Treasury's request on AI's role in financial services

House Financial Services Committee Chairman Patrick McHenry (NC-10) and six subcommittee chairmen have sent a letter to U.S. Treasury Secretary Janet Yellen in response to the Treasury’s Request for Information (RFI) on Artificial Intelligence (AI) in financial services. The lawmakers emphasize the significant potential AI holds for the sector and urge financial regulators to focus on its benefits to consumers as firms increasingly leverage AI.

Financial Services Committee Republicans criticize CFPB's proposed changes

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), sent a comment letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra with Financial Services Committee Republicans in response to the CFPB’s Notice of Proposed Rulemaking (NPRM) regarding the agency’s proposal to change American credit and health care systems. Prior to the comment letter, Chairman McHenry raised concerns with the NPRM, which would prevent the consideration of medical debt when constructing credit reports.

Financial Services Committee Republicans demand FDIC Chair Martin Gruenberg’s resignation

All Financial Services Committee Republicans, led by Chairman Patrick McHenry (NC-10), have sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg demanding his immediate resignation. Despite announcing his intent to resign, Chair Gruenberg continues to push partisan regulatory initiatives while failing to address widespread and entrenched misconduct at the agency.

Republican ESG Working Group releases final staff report on investor protection

Today, the Republican Environmental, Social, and Governance (ESG) Working Group—led by Oversight and Investigations Subcommittee Chairman Bill Huizenga (MI-04)—released its final staff report. This report is the culmination of the Working Group’s comprehensive examination of the factors contributing to the rise of ESG initiatives and the consequences for everyday investors, in addition to recommendations to protect American capital markets from the threats posed by these politically motivated mandates.

Financial Services Republicans urge Fed to reconsider Basel III Endgame Proposal

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), alongside all Committee Republicans, has called on Federal Reserve Chairman Jerome Powell to withdraw and re-propose the Basel III Endgame rulemaking in its entirety. The lawmakers argue that significant changes to the original proposal necessitate a complete re-proposal in accordance with the Administrative Procedure Act.

McHenry announces new staff director for Financial Services Committee

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), named Kim Betz as the new staff director for the Committee.

House Financial Services Committee postpones two subcommittee hearings

The House Financial Services Committee announced the postponement of two hearings initially scheduled for July 30, 2024.

House subcommittee addresses regulatory hurdles in affordable housing

Today, the House Financial Services Subcommittee on Housing and Insurance, led by Chairman Warren Davidson (OH-08), is holding a hearing entitled “Housing Solutions: Cutting Through Government Red Tape.”

House Financial Services Committee announces two hearings on ESG standards and decentralized finance

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced two upcoming hearings.

House passes bipartisan legislation to combat illicit finance and increase HUD accountability

Today, the U.S. House of Representatives passed bipartisan financial services legislation aimed at combating the use of financial technology for illicit finance and increasing accountability within the Department of Housing and Urban Development (HUD).

House committee releases bipartisan report on artificial intelligence

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and Ranking Member Maxine Waters (CA-43) released a staff report from the Committee’s bipartisan Working Group on Artificial Intelligence (AI). The group is led by Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02) and Subcommittee Ranking Member Stephen F. Lynch (MA-08). This report culminates six roundtables focused on identifying existing and growing AI use cases across the financial services and housing industries, examining benefits, potential...

House Financial Services Committee announces hearing on housing solutions

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced an upcoming hearing for the Housing and Insurance Subcommittee. The hearing is titled “Housing Solutions: Cutting Through Government Red Tape.”

House Financial Services Committee to hold hearing on AI applications in finance and housing

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced an upcoming hearing:

House subcommittee examines fintech partnerships at Lexington field hearing

Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr (KY-06), is holding a field hearing in Lexington, Kentucky entitled “Financial Institution-Fintech Partnerships: Leveraging Third-Party Relationships to Increase Access to Financial Services.”

McHenry criticizes administration's stance on digital asset policy

On July 10, 2024, Chairman of the House Financial Services Committee Patrick McHenry (NC-10) led Republicans in a debate on the House floor concerning a veto message accompanying H.J. Res. 109. This resolution pertains to congressional disapproval under chapter 8 of title 5, United States Code, of a rule submitted by the Securities and Exchange Commission (SEC) related to "Staff Accounting Bulletin No. 121."

McHenry urges Powell to uphold Federal Reserve's independence amid ongoing political pressures

The House Financial Services Committee is holding its semi-annual hearing with Federal Reserve Chairman Jerome Powell today. Amid ongoing inflation concerns, Republicans are urging Chair Powell to maintain the Federal Reserve's independence and resist political pressures, particularly regarding proposals like Basel III Endgame.

House Financial Services Committee questions Treasury Secretary Yellen on international financial system

The House Financial Services Committee, chaired by Patrick McHenry (NC-10), convened a hearing today with Treasury Secretary Janet Yellen to discuss the state of the international financial system. Republicans emphasized concerns over the Biden Administration's foreign policy strategies, suggesting these approaches undermine America's global leadership.

House Financial Services Committee to hold hearing on Federal Reserve's monetary policy report

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a forthcoming hearing titled "The Federal Reserve’s Semi-Annual Monetary Policy Report." The full committee hearing is scheduled for 10:00 AM ET on Wednesday, July 10, 2024. It will take place at 2128 Rayburn House Office Building.