House Financial Services Committee Chairman Patrick McHenry (NC-10) was joined by all six subcommittee chairmen in a letter to U.S. Treasury Secretary Janet Yellen in response to Treasury’s Request for Information (RFI) on Artificial Intelligence (AI) in financial services. The lawmakers explain that AI holds great potential for the financial services sector and financial regulators must focus on this technology's potential benefit to consumers as firms increasingly leverage AI to serve more Am...
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 upend 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 co...
All Financial Services Committee Republicans—led by Chairman Patrick McHenry (NC-10)—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 take appropriate steps to address the widespread and entrenched misconduct at the agency. Read the full letter here or below: “We write to follow up on our multiple req...
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 ma...
