U.S. Rep. Patrick McHenry, of North Carolina’s 10th Congressional District, has been appointed to chair a subcommittee in the new session of the U.S. Congress.
Incoming Financial Services Committee Chairman Jeb Hensarling announced recently that McHenry, a Republican, will lead the Oversight and Investigations Subcommittee in the 113th Congress.
In this position, McHenry will provide oversight of the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency and the Export-Import Bank.
“I’m grateful to Chairman Hensarling for this new opportunity,” McHenry said in a statement.
“Government regulators need proper oversight in order to avoid bureaucratic overreach. I’m excited to exert greater influence over that process and look forward to ensuring that small businesses across Western North Carolina are able to access the capital they need to grow and expand.”
Hensarling praised McHenry for his previous experience and leadership positions.
“Patrick is a trusted friend and advisor,” Hensarling said.
“His exemplary efforts overseeing the SEC and CFPB have been critical for small businesses and entrepreneurs across the country. As part of the committee’s leadership team, I know he’ll continue to fight for efficient markets that support the free flow of capital to every aspect of our economy.”