McHenry will continue his service on the committee with jurisdiction of issues relevant to the ARM industry. U.S. Rep. Greg Walden was elected ranking member of the Energy and Commerce Committee.
11/30/2018 9:00
Members of the House Republican Conference elected U.S. Rep. Patrick McHenry, R-N.C., as ranking member of the House Financial Services Friday.
McHenry, currently the committee’s vice chairman and deputy whip, was among the possible candidates to succeed Chairman U.S. Rep. Jeb Hensarling, R-Texas, before the midterm elections. Hensarling is retiring due to term limits.
However, the new Democrat majority resulting from the midterm elections means committee leadership will change party in January. U.S. Rep. Maxine Waters, D-Calif., is expected to move from ranking member to chairman of the committee, which has jurisdiction over issues relevant to the accounts receivable management industry including banking, the economy and securities and exchanges.
“I am honored to have been selected by my colleagues to serve as the Republican leader of the House Financial Services Committee. Having served on the committee since I came to Congress, I have a deep understanding of the important role this committee plays in advancing meaningful public policy that helps American families and small businesses., McHenry said in a news release. “In the two years ahead, I look forward to working with my colleagues—both Republicans and Democrats alike—to produce innovative solutions that increase access to banking services and credit for all Americans. In addition, I will work in close consultation with the Trump Administration to ensure their ongoing regulatory relief efforts continue.”
Other ranking member appointments for the 116th Congress include U.S. Rep. Greg Walden, R-Ore., on the House Energy and Commerce Committee. Walden is chairman until the start of the new Congress in January.
Stay up to date on the impact of the changing political landscape for the accounts receivable management industry in episodes of ACA Cast featuring insights from Leah Dempsey, vice president and senior counsel, federal affairs; Andrew Madden, vice president of government and state affairs; and Rae Ann Bevington, vice president congressional and political affairs.
Editor’s note: The House Financial Services Committee has jurisdiction over issues relevant to the accounts receivable management industry including banking, the economy and securities and exchanges.