Patrick McHenry

Lawmakers Say FDIC Has ‘Moved Backwards on Innovation’
Lawmakers Say FDIC Has ‘Moved Backwards on Innovation’
February 02, 2024  |  Innovation

Three members of Congress have asked the Federal Deposit Insurance Corp. (FDIC) for information about how it will provide regulatory guidance for FinTech firms and other financial...

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Lawmakers Oppose CFPB’s Proposed Rule on Supervising Nonbank Financial Firms
Lawmakers Oppose CFPB’s Proposed Rule on Supervising Nonbank Financial Firms
January 30, 2024  |  CFPB

Three members of Congress have urged the Consumer Financial Protection Bureau (CFPB) to reopen and extend the public comment period on its proposed rule that would allow it to...

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As Rep. McHenry Retires, Payments Regulation and Innovation May See Turbulence
As Rep. McHenry Retires, Payments Regulation and Innovation May See Turbulence
December 06, 2023  |  Politics

The question must be asked as Rep. Patrick McHenry, R-N.C., takes his leave of Congress: What happens to financial services regulation, and by extension, payments...

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Rep. Patrick McHenry Says CFPB Vilifies Financial Services Industry
Rep. Patrick McHenry Says CFPB Vilifies Financial Services Industry
November 29, 2023  |  Regulation

House Financial Services Committee (HFSC) Chairman Patrick McHenry of North Carolina said Wednesday (Nov. 29) the Consumer Financial Protection Bureau (CFPB) is serving as a...

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Federal Reserve Sets Guidelines for Banks’ Use of Stablecoins
Federal Reserve Sets Guidelines for Banks’ Use of Stablecoins
August 28, 2023  |  Regulation

A new Federal Reserve supervisory letter on the process for state member banks using dollar tokens, such as stablecoins, to facilitate payments has drawn the...

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132 Members of Congress Say CFPB Funding Structure Unconstitutional
132 Members of Congress Say CFPB Funding Structure Unconstitutional
July 11, 2023  |  CFPB

A group of 132 members of Congress favor challenging the funding structure of the Consumer Financial Protection Bureau (CFPB). The group filed an amicus curiae brief to the...

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Lawmakers Introduce Legislation to Reform FinCEN and Protect Small Business Data
Lawmakers Introduce Legislation to Reform FinCEN and Protect Small Business Data
June 12, 2023  |  Regulation

In today’s fast-paced world, financial crimes are becoming increasingly common, and it’s crucial to safeguard consumers and businesses.  Lawmakers are moving to reform the Financial...

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Lawmakers Demand FinCEN Educate Businesses on Beneficial Ownership Reporting Requirements
Lawmakers Demand FinCEN Educate Businesses on Beneficial Ownership Reporting Requirements
June 08, 2023  |  Regulation

Lawmakers are demanding greater clarity on FinCEN’s forthcoming beneficial ownership reporting requirements. In a Wednesday (June 7) letter to Financial Crimes Enforcement Network (FinCEN) Acting Director Himamauli Das and U.S. Treasury Secretary Janet Yellen,...

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House GOP Crypto Bill Lays Out SEC and CFTC Roles
House GOP Crypto Bill Lays Out SEC and CFTC Roles
June 04, 2023  |  Regulation

House Republicans have unveiled legislation they say fills in gaps in the country’s cryptocurrency regulations. The draft proposal, authored by Reps. Patrick McHenry of North Carolina...

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