House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) wrote to Chairman Maxine Waters (D-Calif.) today urging her to hold hearings on a number of critical financial services issues, including several American Bankers Association priorities.
Specifically, McHenry called for hearings on the modernization of the Bank Secrecy Act and anti-money laundering regulations, the Financial Accounting Standards Board’s Current Expected Credit Loss standard, housing finance reform, the National Flood Insurance Program and cybersecurity. He also urged the committee to examine the potential effects of Brexit on the U.S. financial system, as well as the global economic implications of China’s financing decisions.
