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Contact: Jeff Butler 202-225-2576

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McHenry on President Trump's Executive Actions on Dodd-Frank, DOL Fiduciary Rule

Washington, February 3, 2017 -

Chief Deputy Whip Patrick McHenry (NC-10), the Vice Chairman of the House Financial Services Committee, released the following statement after President Donald Trump signed executive orders relating to the Dodd-Frank Act and the Department of Labor's Fiduciary Rule:

“Dodd-Frank’s regulations have driven up costs and made credit less available  for families and small businesses throughout western North Carolina. Over the past six years, the House Financial Services Committee has worked tirelessly to replace this broken law with a system that actually brings down costs and promotes economic growth all while maintaining strong protections for American consumers. 

“With today’s orders from President Trump, it’s encouraging to see we finally have an ally in these efforts. Coupled with the executive order delaying the DOL’s costly fiduciary rule, these two actions illustrate Congress and the Trump Administration’s strong commitment to ensuring long-term financial security for American families and small businesses.” 

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