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Financial Services Committee Republicans

Financial Services Committee Republicans U.S. House Committee with oversight of the financial services industry. Top priorities: a stronger e Zeldin, New York

Barry Loudermilk, Georgia

Alexander X.

The Committee's Republican members are:

Patrick McHenry, North Carolina, Ranking Member

Frank D. Lucas, Oklahoma

Pete Sessions, Texas

Bill Posey, Florida

Blaine Luetkemeyer, Missouri

Bill Huizenga, Michigan

Ann Wagner, Missouri, Vice Ranking Member

Andy Barr, Kentucky

Roger Williams, Texas

French Hill, Arkansas

Tom Emmer, Minnesota

Lee M. Mooney, West Virginia

Warren Davidson, Ohio

Ted Budd, North Carolina

David Kustoff, Tennessee

Trey Hollingsworth, Indiana

Anthony Gonzalez, Ohio

John Rose, Tennessee

Bryan Steil, Wisconsin

Lance Gooden, Texas

William Timmons, South Carolina

Van Taylor, Texas

Operating as usual

Gary Gensler's SEC released its strategic plan for the next four years. Facilitating capital formation—one of three core...
11/29/2022
U.S. Securities and Exchange Commission on Twitter

Gary Gensler's SEC released its strategic plan for the next four years. Facilitating capital formation—one of three core pillars of the SEC's statutory mission—wasn't mentioned a single time.

House Republicans have a plan to enhance capital formation opportunities—which are central to creating robust, enduring economic growth—by:

✅ Strengthening public markets
✅ Helping small businesses & entrepreneurs
✅ Increasing opportunities for all investors

https://www.sec.gov/news/press-release/2022-210

“Today we released our new strategic plan outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce.”

The White House is finally admitting President Biden's "leadership" led to 40-year high inflation.After Democrat-induced...
11/02/2022

The White House is finally admitting President Biden's "leadership" led to 40-year high inflation.

After Democrat-induced inflation made essentials unaffordable for many Americans, social security beneficiaries required a record COLA increase to keep their purchasing power.

"The Securities and Exchange Commission’s job is to make markets work. But today’s SEC leadership—which as of August had...
11/01/2022
Opinion | The SEC’s Rules Are Getting Unreal

"The Securities and Exchange Commission’s job is to make markets work. But today’s SEC leadership—which as of August had proposed 26 new rules this year alone—is ignoring the real-world effects of its regulations on market participants."

Read more on SEC Chair Gary Gensler's reckless agenda that threatens the dominance of U.S. capital markets 👇

‘Regulation by hypothesis’ is bad for the capital markets.

Under Democrats' one-party rule:📉 Real wages are falling📈 Gas and grocery prices are skyrocketing❌ Supply chains are bro...
10/24/2022
An Economy That's Strong - Commitment to America

Under Democrats' one-party rule:

📉 Real wages are falling
📈 Gas and grocery prices are skyrocketing
❌ Supply chains are broken
💲 Household savings are depleted

A House Republican majority will be committed to restoring a strong economy.

Read more about our :

An Economy That’s Strong The Republican Commitment to a Strong Economy Cost of Living American Energy Supply Chain Fight Inflation and Lower the Cost of Living Everyone knew that wasteful Washington spending would spur inflation. Millions in hardworking taxpayer dollars were sent to luxury resorts...

For two years, Democrats have cheered as Biden's rogue regulators sought to use our financial system to force their "wok...
10/04/2022

For two years, Democrats have cheered as Biden's rogue regulators sought to use our financial system to force their "woke" agenda that couldn't pass in Congress.

A House Republican majority will restore a government that's accountable to the American people—not the far-left.

The Biden Administration continues to focus almost exclusively on the potential risks posed by digital assets, instead o...
10/04/2022
US Risk Watchdog Asks Congress to Name Crypto Spot Market Regulator

The Biden Administration continues to focus almost exclusively on the potential risks posed by digital assets, instead of their opportunities.

Continued regulation by enforcement will not provide this ecosystem with the clarity it desperately needs. Blanket rulemaking authority without guardrails is also not a regulatory framework.

We agree that Congress must legislate to provide clear, workable rules of the road for digital assets.

The Financial Services Committee is already working in a bipartisan way to accomplish this.

The Treasury-led FSOC has responded to President Joe Biden’s executive order with calls for greater regulatory reach into markets, crypto firms’ affiliates and outside service providers.

: Ranking Member Patrick McHenry announces Committee Republicans' capital formation agenda.While SEC Chair Gensler and C...
09/27/2022

: Ranking Member Patrick McHenry announces Committee Republicans' capital formation agenda.

While SEC Chair Gensler and Congressional Democrats ignore the importance of capital formation, Committee Republicans will bring this issue back to the forefront.

Committee Republicans capital formation agenda will:

✅ Strengthen our public markets
✅ Help small businesses and entrepreneurs
✅ Create new opportunities for all investors

Read more 🔗 https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=408441

Committee Republicans—led by Patrick McHenry—sent a letter to Amalgamated Bank blasting its effort to force companies to...
09/21/2022
Committee Republicans Blast Amalgamated Bank’s Efforts to Force Companies to Track U.S. Gun Sales | Financial Services Committee Republicans

Committee Republicans—led by Patrick McHenry—sent a letter to Amalgamated Bank blasting its effort to force companies to track U.S. gun sales.

Republican Leader Patrick McHenry also sent a letter to FinCEN demanding information on how the agency will use this new data from the firearm retailer MCC.

👇 Read more 🔗

Ahead of today’s hearing with the CEOs of America’s largest retail banks, Committee Republicans—led by Patrick McHenry (NC-10)—sent a letter to Amalgamated Bank. Committee Republicans are objecting to the bank’s efforts to hijack our financial system to force companies to track law-abiding...

President Biden hosted a "celebration" of the so-called Inflation Reduction Act on the same day new data showed his poli...
09/14/2022
Biden slammed for hosting Inflation Reduction Act celebration with ‘American's 401Ks going down the drain’

President Biden hosted a "celebration" of the so-called Inflation Reduction Act on the same day new data showed his policies are making inflation worse.

Tone-deaf Democrats don't understand the struggles of working families.

President Biden was criticized for celebrating the Inflation Reduction Act despite the latest CPI report showing higher than expected inflation, causing stocks to tumble.

Americans are getting hammered by higher electricity and natural gas prices as winter approaches.As Biden continues his ...
09/14/2022
As Gasoline Prices Drop, Electricity and Some Heating Costs Rise

Americans are getting hammered by higher electricity and natural gas prices as winter approaches.

As Biden continues his assault on American energy production, lower-income families will be hit especially hard by the increased cost to heat their homes.

The biggest 12-month rise in a U.S. electricity-cost index in at least 41 years, driven by higher natural-gas prices, is increasing consumers’ energy bills even as gasoline prices fall.

"The harder truth is that ESG is largely failing on its own terms. Despite tens of trillions of ESG investments, investo...
09/13/2022
Opinion | ESG Does Neither Much Good nor Very Well

"The harder truth is that ESG is largely failing on its own terms. Despite tens of trillions of ESG investments, investors haven’t done very well nor generated much good."

Read more about the failure of ESG in Wall Street Journal Opinion 👇

There’s little evidence that the benefits to mankind make up for lower returns on your investment.

Democrat-induced inflation remained near a 40-year high in August, continuing to clobber Americans.Grocery prices surged...
09/13/2022
Inflation rose 0.1% in August even with sharp drop in gas prices

Democrat-induced inflation remained near a 40-year high in August, continuing to clobber Americans.

Grocery prices surged at the fastest pace since 1979.

Democrats' reckless tax-and-spend schemes are making everyday essentials unaffordable for families.

The consumer price index for August was expected to decrease 0.1% from the previous month and increase 8% from a year ago, according to Dow Jones.

Contrary to the White House's assertions, household finances are in terrible shape with families' wealth dropping by a r...
09/12/2022
U.S. household wealth suffers record drop in second quarter

Contrary to the White House's assertions, household finances are in terrible shape with families' wealth dropping by a record amount last quarter.

Americans can't keep up with the declining real wages of the Biden economy.

U.S. household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year as a bear market in stocks far outweighed further gains in real estate values, a Federal Reserve report showed on Friday.

:  Republicans—led by Patrick McHenry and Rep. Bill Huizenga—sent a letter to FINRA.They are urging FINRA to reject prop...
09/07/2022
Republicans Urge FINRA to Reject Proposals that Limit Choice for Everyday Investors | Financial Services Committee Republicans

: Republicans—led by Patrick McHenry and Rep. Bill Huizenga—sent a letter to FINRA.

They are urging FINRA to reject proposals that limit choice for everyday investors.

Read more:

Today, all Republican members of the House Financial Services Committee’s Investor Protection, Entrepreneurship, and Capital Markets Subcommittee—led by Republican Leaders Patrick McHenry (NC-10) and Bill Huizenga (MI-02)—sent a letter to Robert Cook, President and CEO of the Financial Industr...

: Republican Leaders Patrick McHenry and Rep. Bill Huizenga sent a letter inviting PCAOB Chair Erica Williams to testify...
09/02/2022
McHenry, Huizenga Request Testimony of PCAOB Chair Williams and Acting SEC Chief Accountant Munter at Hearing on Accounting Standards | Financial Services Committee Republicans

: Republican Leaders Patrick McHenry and Rep. Bill Huizenga sent a letter inviting PCAOB Chair Erica Williams to testify at next week's hearing entitled "Accounting Standards in the 21st Century."

The Republican Leaders also sent a letter to Chairwoman Waters urging her to invite Acting SEC Chief Accountant Paul Munter to testify at next week's hearing, and demanding she convene a hearing with SEC Chair Gary Gensler this month.

👇 Read more 🔗

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), and the top Republican on the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, Bill Huizenga (MI-02), sent two letters regarding witnesses for next week’s hearing, entitled “A...

: Republican Leader Patrick McHenry responds to the Department of Justice Office of Legal Counsel opinion supporting Dem...
08/30/2022
McHenry Responds to DOJ Opinion Supporting Democrats’ Partisan FDIC Board Power Grab | Financial Services Committee Republicans

: Republican Leader Patrick McHenry responds to the Department of Justice Office of Legal Counsel opinion supporting Democrats' partisan power grab at the Federal Deposit Insurance Corporation.

"House Republicans will not be deterred from our investigations into the lawless tactics of rogue Democrat regulators."

Read more:

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the public release of the Department of Justice (DOJ) Office of Legal Counsel’s opinion supporting Democrats’ unprecedented, partisan power grab on the boar...

House Democrats are preparing to raise taxes in a recession to fund their radical "green" agenda—all under the guise of ...
08/12/2022
House readies vote on $739B Manchin-Schumer bill as progressive holdouts remain silent

House Democrats are preparing to raise taxes in a recession to fund their radical "green" agenda—all under the guise of inflation reduction.

Reminder: Nothing in Democrats' tax-and-spend scheme will bring down inflation.
https://www.foxnews.com/politics/house-readies-vote-739b-manchin-schumer-bill-progressive-holdouts-remain-silent?fbclid=IwAR1IIX98Ty5ZamEQaKdpDZNjmeL2CmXoULefujL4RI07bzQ5x1DTrWmTpP0

Members of the U.S. House of Representatives will return to Washington Friday to vote on a $739 billion tax, climate and health care bill central to President Biden's agenda.

The non-partisan Congressional Budget Office says the so-called "Inflation Reduction Act" will NOT reduce inflation.Don'...
08/09/2022
White House stands by Inflation Reduction Act after CBO warns inflation won't drop as a result

The non-partisan Congressional Budget Office says the so-called "Inflation Reduction Act" will NOT reduce inflation.

Don't let them fool you—Democrats are prioritizing Green New Deal mandates and subsidies over lowering consumer prices for everyday Americans.

The White House defended the Inflation Reduction Act on Friday following a report from the Congressional Budget Office suggesting the legislation would not lower inflation.

The middle class is already being decimated by skyrocketing consumer prices caused by Democrats' reckless spending.If th...
08/09/2022
Middle-class Americans to bear brunt of IRS audits under Dem inflation bill, analysis shows

The middle class is already being decimated by skyrocketing consumer prices caused by Democrats' reckless spending.

If the House passes the "Inflation and Recession Act," Americans making under $75k will be squeezed even more by 710,863 additional IRS audits.

Lower- and middle-class Americans are projected to bear the brunt of the vast majority of additional tax audits authorized under Democrats' spending bill the Senate passed Sunday.

08/09/2022

More than a quarter of Americans are being forced to delay their retirement due to Democrat-induced inflation.

The Manchin-Schumer spending bill will further deplete Americans' retirement savings by taxing companies for trying to return value to its shareholders.

: More than 230 economists say Democrats' reckless spending bill will exacerbate inflation.At the same time, they want t...
08/05/2022
Over 230 economists warn Manchin's spending bill will perpetuate inflation

: More than 230 economists say Democrats' reckless spending bill will exacerbate inflation.

At the same time, they want to increase taxes to fund the same far-left agenda that got us into this mess in the first place.

230 economists are warning congressional leaders in the House and Senate that Manchin's tax and spending bill will actually cause more inflation nationwide, despite claims otherwise.

Republican Leader Patrick McHenry joined Congressman John Rose and 20 other Committee Republicans in a letter to SEC Cha...
08/05/2022
House Republicans call on Biden admin to rescind 'dangerous,' potentially unconstitutional energy proposal

Republican Leader Patrick McHenry joined Congressman John Rose and 20 other Committee Republicans in a letter to SEC Chair Gary Gensler.

Following the Supreme Court's decision in EPA v. West Virginia, Gensler must rescind his reckless climate disclosure proposal.

Nearly two dozen Republicans urged the Biden administration to rescind a potentially unconstitutional regulation that would force companies to disclose climate-related information.

"Call it a recession or stagflation or a slowdown or a transitory blip or even Ethel or Fred—however you name it, the U....
07/29/2022
Opinion | The Biden Stagflation Arrives

"Call it a recession or stagflation or a slowdown or a transitory blip or even Ethel or Fred—however you name it, the U.S. economy described in Thursday’s GDP report for the second quarter is struggling. ...

"Mr. Biden inherited a growing economy primed to roar back from the pandemic, and in barely a year and a half he has dragged America back to the 1970s. ... It's time to do the opposite."

Wall Street Journal Opinion hits the nail on the head on how Democrats' economic policies are failing Americans. 👇

Bad policies have produced slow economic growth, falling real wages, and soaring prices.

🚨 The Board of Governors of the Federal Reserve System's preferred inflation index surged at the highest rate in four de...
07/29/2022
A key US inflation gauge reaches 6.8% as prices keep surging

🚨 The Board of Governors of the Federal Reserve System's preferred inflation index surged at the highest rate in four decades.

Unfortunately for Americans, Democrats have revived their plan to super charge their tax & spend agenda that got us into this economic mess in the first place.

WASHINGTON (AP) — An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8% in June from a year ago, the biggest increase in four decades, and leaving Americans with no relief from surging costs.

🚨 Thanks to Democrat-induced inflation, more Americans are having trouble paying their bills than during the height of t...
07/26/2022
Difficulty Paying Bills Tops Pandemic High in US Census Survey

🚨 Thanks to Democrat-induced inflation, more Americans are having trouble paying their bills than during the height of the pandemic in 2020.

Democrats' reckless spending is making it harder for families to make ends meet.

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"An administrative agency is obliged to answer Congressional inquiries—even if it’s a pain in the neck. SEC Chairman Gar...
07/26/2022
Opinion | Gary Gensler Stonewalls Congress

"An administrative agency is obliged to answer Congressional inquiries—even if it’s a pain in the neck. SEC Chairman Gary Gensler is acting as if he’s above all that."

Chair Gensler's stonewalling of Congress is unacceptable and aided by Democrats' weak oversight.

The SEC chief refuses to answer questions about his climate rule.

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CFPB Director Rohit Chopra and FDIC Board Member Gruenberg's unprecedented attempted power grab upends 88 years of precedent and threatens the stability of the Federal Deposit Insurance Corporation.

Read more from Chair McWilliams in WSJ Opinion
https://www.wsj.com/articles/hostile-takeover-fdic-board-rohit-chopra-michael-hsu-jelena-mcwilliams-abuse-power-11639432939?mod=opinion_lead_pos6
: Republican Leader Patrick McHenry joined to discuss yesterday's hearing on digital assets and the future of regulation in the U.S.

Read more: https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=408217

📺 Watch 👇
: Republican Leader Patrick McHenry joined to discuss yesterday's hearing on digital assets and the future of regulation in the U.S.

Read more: https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=408217

📺 Watch 👇
Financial innovation can bring un- and under-banked Americans into the fold.

New technology, including digital assets, will help build a more inclusive financial system.
Financial innovation holds the promise to revolutionize the way Americans participate in our financial system.

Congress must work to fully understand and embrace digital assets, including .
Republican Leader Patrick McHenry at today's hearing on digital assets:

"2021 was the year of the ."

Read more: https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=408215

📺 Watch 👇
Republican Leader Patrick McHenry applauds inclusion of his Debt Bo***ge Repair Act in NDAA:

"While this does not erase the terrible crimes committed against them, it will help survivors to regain their financial freedom and begin to rebuild their lives."

Read more: https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=408214
The digital asset ecosystem needs regulatory clarity and certainty to continue to innovate here in the U.S.

Republican Leader Patrick McHenry introduced the Eliminate Barriers to Innovation Act to give market participants a seat at the table alongside the CFTC and SEC.

Read More: https://www.rollcall.com/2021/12/07/cryptocurrency-outlook-may-depend-on-which-agency-is-supervising/
Democrats' reckless agenda is disastrous for Main Street job creators.

From rising prices, to supply chain disruptions, to the labor shortage, President Biden's policies are harming the backbone of our economy—American small businesses.

Read more: https://www.cnbc.com/2021/12/07/latest-sign-of-president-bidens-inflation-problem-is-on-main-street.html
Nearly half of Americans say they are feeling the consequences of the rise in prices caused by Democrats' out-of-control spending.

Biden's reckless Build Back Broke agenda will only add more fuel to the fire and make inflation worse.

Read more: https://news.gallup.com/poll/357731/inflation-causing-hardship-households.aspx
🚨 Treasury Secretary Yellen finally concedes Democrats' reckless spending is a factor contributing to rising prices by stressing the supply chain.

Ranking Member Patrick McHenry responds: "Inflation is outpacing wage increases. This is on the Democrat House, Senate, and White House," not the Fed.

📺👇
🚨 Treasury Secretary Yellen finally concedes Democrats' reckless spending is a factor contributing to rising prices by stressing the supply chain.

Ranking Member Patrick McHenry responds: "Inflation is outpacing wage increases. This is on the Democrat House, Senate, and White House," not the Fed.

📺👇
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