Press Release

McHenry Votes to Roll Back Burdensome Dodd Frank Regulations

Today, Chief Deputy Whip Patrick McHenry (NC-10), Vice Chairman of the House Financial Services Committee, released the following statement on passage of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act:

“Since Dodd Frank was enacted we’ve seen the cost of borrowing skyrocket, one in five American banks have closed, and it has become harder for American families to access the financial products they need. Today, the House voted to rollback this failed law with passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act.

“This bill is a win for consumers, making it cheaper and easier for them to save for college or borrow so they can buy a home. It includes common-sense protections such as allowing Americans the ability to freeze their credit in the case of data breaches or identity theft. This bill is good for small businesses, removing needless regulations and empowering innovative new forms of capital formation like angel investing.

“This bill is an important first step to undo Dodd Frank. I’m proud to have played an active role in drafting this bill and I look forward to seeing President Trump sign it into law soon.”

Earlier today, Congressman McHenry delivered  a speech on the House floor in support of S. 2155, which you can watch by clicking here or on the image below.

McHenry also joined Varney & Co. on Fox Business to discuss his support for this important legislation to provide regulatory relief for community banks and give American families and small businesses access to the financial products they need. You can watch the interview by clicking here or on the image below.

Later, McHenry discussed his support of this common-sense bipartisan legislation on Bloomberg TV. To watch the interview click here or on the image below.

Included in S. 2155 is Congressman McHenry’s bill, H.R. 1219, the Supporting America’s Innovators Act of 2017 which helps encourage and boost investments in small businesses in western North Carolina and throughout the country. You can learn more about H.R. 1219 by clicking here.