Patrick T McHenry

Facebook cryptocurrency stirs worry and support in both parties
Top Democrat urges Fed and regulators to protect consumers and economy from Facebook’s ‘monopoly money’

Federal Reserve Chairman Jerome Powell, right, was peppered with questions about how the Fed would deal with Libra, Facebook’s new cryptocurrency. (Caroline Brehman/CQ Roll Call)

Facebook Inc. got a preview Wednesday of what to expect next week when executives come to testify about plans to launch Libra, a digital currency and online payment system.

At a hearing Wednesday morning, Democrats and Republicans on the House Financial Services Committee peppered Federal Reserve Chairman Jerome Powell with questions about how the central bank would respond to Libra.

Fed’s Powell says Trump couldn’t push him to resign
The Fed chairman also said he shared concerns among lawmakers about Facebook Inc.’s proposal to launch a cryptocurrency

Jerome Powell, chairman of the U.S. Federal Reserve, testifies during a House Financial Services Committee hearing on Capitol Hill on Wednesday July 10, 2019. (Caroline Brehman/CQ Roll Call)

Federal Reserve Chairman Jerome Powell told a House panel Wednesday that he would not resign if President Donald Trump ordered him to step down.

Powell, who has been excoriated by Trump on Twitter for his management of the Fed and the nation’s monetary policy, told House Financial Services members he would serve out his term. He made his comments during his semi-annual testimony to the committee.

James Clyburn: Live at the Comedy Cellar
House majority whip kicks off International Joke Day with a 3-joke set (on Twitter)

Despite his best efforts, there is probably no Netflix standup special in House Majority Whip James E. Clyburn’s future. (Courtesy Rep. James E. Clyburn via Twitter)

We may be weeks removed from Father’s Day but that didn’t discourage House Majority Whip James E. Clyburn from unleashing a torrent of dad jokes so corny his district now qualifies for ethanol subsidies.

The South Carolina Democrat logged on to Twitter dot com on Monday to rattle off some turtle-themed material in celebration of International Joke Day. His jokes included gems like this:

North Carolina runoff becomes proxy war for D.C. interests
GOP ‘will never be a majority party’ without more women, Kevin McCarthy says

Joan Perry, who's running in the Republican primary runoff for the special election in North Carolina’s 3rd District, talks with potential voters Saturday at the “The Birth Place of Pepsi-Cola” in New Bern, N.C. (Simone Pathé/CQ Roll Call file photo)

EMERALD ISLE, N.C. — The Republican candidate who has the best chance of adding to the party’s dwindling ranks of women in the House insists she’s running on her own merits, not her gender.

But in the GOP primary runoff for the special election in North Carolina’s 3rd District, pediatrician Joan Perry subtly argues that her gender is an important part of why she’s the real outsider candidate running for Congress. 

House panel advances anti-money laundering bill with only some GOP support
Backers hope it’ll be enough to move in the Senate

House Financial Services ranking member Patrick T. McHenry of North Carolina was wooed to support an anti-money laundering bill but never signed off. Supporters hope that will not jeopardize its chances in the Senate. (Tom Williams/CQ Roll Call file photo)

After holding an anti-money laundering bill for a month in the hopes of winning over the committee’s top ranking Republican, the House Financial Services Committee advanced it without him on Wednesday, in a move that could ultimately undermine the odds of passing it through the Senate.

The legislation would require corporations and limited liability companies to report who actually owns them to the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, in the hopes of curbing the use of anonymous shell companies for hiding illicit assets from criminal investigators and tax officials.

Runoff for safe Republican seat in North Carolina divides the conference
GOP women in the House line up against Mark Meadows and the Freedom Fund

North Carolina Rep. Mark Meadows' backing of state Rep. Greg Murphy in the runoff for North Carolina's 3rd District puts him at odds with all of the women Republicans in the House. (Tom Williams/CQ Roll Call file photo)

The runoff in North Carolina’s 3rd District is dividing the House Republican Conference between one powerful man and more than a dozen women.

It’s North Carolina Rep. Mark Meadows and the political arm of the House Freedom Caucus versus the Republican women in the chamber — all 13 of them — plus another male lawmaker from the North Carolina delegation.

When does partisan gerrymandering cross the line?
If you want a glimpse of 2020, look no further than this week’s action at the Supreme Court

Arnold Schwarzenegger speaks in D.C. on Tuesday, calling gerrymandering a “national scandal.” The former California governor led nonpartisan redistricting efforts in his state. (Tasos Katopodis/Getty Images)

OPINION — “I think electing Republicans is better than electing Democrats,” said Rep. David Lewis, a Republican member of the North Carolina general assembly’s redistricting committee. “So, I drew this map to help foster what I think is better for the country.”

He added: “I propose that we draw the maps to give a partisan advantage to 10 Republicans and three Democrats, because I do not believe it’s possible to draw a map with 11 Republicans and two Democrats.”

Democrats hammer CFPB head for being soft on lenders
Democrats grilled Director Kathy Kraninger and GOP lawmakers for supporting recent agency changes

Kathy Kraninger, director of the Consumer Financial Protection Bureau, is seen before testifying at a House Financial Services Committee hearing in the Rayburn Building on March 7. (Tom Williams/CQ Roll Call)

House Democrats sharply criticized on Thursday the head of America’s consumer finance watchdog for decisions Republicans say are entirely under her purview.

In the first Consumer Financial Protection Bureau oversight hearing, Financial Services Democrats repeatedly hammered Director Kathy Kraninger and GOP lawmakers for supporting recent changes at the agency.

House passes cryptocurrency, insider trading bills
Measures were delayed by debate over spending proposals

The House has passed three bills related to cryptocurrency and insider trading. (Dan Kitwood/Getty Images file photo)

After a week of shutdown-related delays, the House has passed three financial services bills that had been expected to receive floor votes early last week, but were delayed as the House debated spending proposals.

Lawmakers agreed by voice vote Monday to pass under suspension of the rules a bill  co-sponsored by Reps. Ted Budd, a North Carolina Republican, and Stephen F. Lynch, a Massachusetts Democrat, that would create an interagency task force led by the Treasury secretary to research how new financial technology, or fintech, is being used in financial crimes and terrorism, and develop regulatory and legislative responses. The bill would also establish a grant fund for programs and ideas for preventing terrorists and other bad actors from using cryptocurrencies for nefarious ends.

Bustos Announces DCCC Senior Staff, With New Female Executive Director
Allison Jaslow will be the committee’s executive director in 2018

Rep. Cheri Bustos, D-Ill., is the new DCCC chairwoman.(Bill Clark/CQ Roll Call file photo)

Rep. Cheri Bustos, the new Democratic Congressional Campaign Committee chairwoman, announced her senior staff hires for the 2020 cycle Thursday. Her campaign manager Allison Jaslow will be the committee’s executive director. 

The DCCC is shifting to defense in 2020 after flipping 40 seats to take over the House. The committee will be tasked with protecting vulnerable new members, including 31 Democrats running for re-election in districts President Donald Trump won in 2016.