Congressman Patrick McHenry Nominated as House Financial Services Chair

Patrick McHenryMcHenry will focus on oversight of regulators and the Biden administration, with an agenda that includes innovation and a regulatory framework for digital assets.

12/08/2022 1:10 P.M.

1.5 minute read

U.S. Rep. Patrick McHenry, R-N.C., was nominated as the chair of the House Financial Services Committee Dec. 7. His nomination will be ratified by the House Republican Conference.

McHenry has supported reform of the Consumer Financial Protection Bureau’s funding and leadership structure, reining in regulation by enforcement as well as the CFPB’s regulatory approach of interpretative rules and guidance that lack clarity for businesses.

Before the November midterm elections, Roll Call reported McHenry—at 47—would be the youngest chair of the committee in more than 100 years.

“I’m honored to have been selected by my colleagues as the next Chairman of the House Financial Services Committee,” McHenry said in a news release. “After serving on this Committee for my entire tenure in Congress, I’m prepared to lead a dynamic group of Republican members as we work to deliver on our Commitment to America. As Chairman, I will pursue an innovation and opportunity agenda. We will focus our efforts on conducting appropriate and aggressive oversight of the Biden administration, as well as pursuing bipartisan legislation to put Americans back in control of their personal financial data, enhance capital formation opportunities, and develop a comprehensive regulatory framework for the digital asset ecosystem. I’m excited to get to work to rebuild the greatest economy of my lifetime, which we experienced pre-pandemic under Republican leadership.”

McHenry’s agenda is expected to include financial services regulators’ oversight and cryptocurrency regulations, among other issues, ACA International previously reported.

Related Content from ACA International:

Future Financial Services Chair Patrick McHenry Shares Committee Outlook

If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.

If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.




One moment please...

Share Profile

This site uses cookies. By continuing to use our site, you are agreeing to our use of cookies. Review our Privacy Policy for more information. You may change your preferences on how cookies are stored by reviewing the settings on your browser.

The content on this site is presented for educational, general reference, and informational purposes only; is not intended to serve as legal or other advice; is not intended to be a full and exhaustive explanation of the law in any area; and should not replace the advice of your own legal counsel. By continuing to use our site, you are agreeing to the legal disclaimers in our Terms of Use. Review our Terms of Use for more information.

Friendly Reminder

Get continued access to ACA International’s wide array of resources, which can help you become more profitable, compliant and successful.

Renew your membership today to take advantage of tools you won’t find anywhere else:

  • Discounts on seminars, products, services and events
  • Resources to strengthen your compliance department
  • Industry-specific risk management products and services
  • Participation in ACA’s online community, The Hub
    Members-only website content
  • Professional development and training opportunities, and so much more!

If you have completed your renewal, please disregard this reminder.