Washington D.C. – An analysis from government watchdog Accountable.US finds the new Republican members of the House Financial Services Committee have collectively banked nearly $6.2 million in campaign cash from the industries they now oversee, including the finance, insurance, and real estate sectors. New members include extreme MAGA McCarthy ‘holdouts’ Byron Donalds (R-FL) and Rep. Andy Ogles (R-TN). The analysis follows Accountable.US’ previous findings that incoming HFSC Chairman Patrick McHenry has taken over $9.2 million from these industries as he has pushed priorities written by-and-for Wall Street, big banks and predatory lenders at the expense of everyday American families. 

History has shown when conservative politicians in the pocket of Wall Street banks and predatory lenders seize power, everyday consumers are left more vulnerable to greedy financial industry behavior. History is about to repeat itself as the MAGA majority in charge of overseeing the financial industry are completely awash in Wall Street money. Chairman McHenry, who’s made no secret of his intent to ignore bad industry actors and obstruct federal efforts to protect consumers from things like junk fees, now has all the backing he needs to get payback against the pro-consumer Biden administration on behalf of his biggest donors. Consumers beware as financial scammers rejoice.”

Liz Zelnick, Director of Accountable.US’ Economic Security & Corporate Power program.
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