Following the news that House Financial Services Committee Chairman Patrick McHenry (R-NC) has assumed the role of Acting Speaker of the House, government watchdog Accountable.US spotlighted McHenry’s career serving his financial industry mega-donors at the expense of everyday consumers. CLICK HERE to view McHenry’s Profile in MAGA Economics.
No one is celebrating Patrick McHenry’s promotion more today than Wall Street banks, predatory lenders, and greedy landlords. Behind the bowtie is among the most prolific shills for the financial industry in Congress, and the industry has rewarded him in kind with millions of dollars. Acting Speaker Patrick McHenry would struggle to point to any accomplishments that helped lift more Americans into the middle class. His work to enrich his financial industry donors has trumped everything else, including consumers’ best interest. McHenry has routinely made excuses for abusive junk fees, banking discrimination, deceptive debt collectors, and predatory lending. Just imagine the anti-consumer wish-list items the financial industry will roll out now under Acting Speaker McHenry.”
Accountable.US’ Liz Zelnick
This year alone, McHenry has “slammed” the Biden’s administration’s hugely popular crackdown on abusive junk fees after McHenry took over $1.1 million from the eight largest credit card issuers and banking industry trade groups. As Chairman of the House Financial Services Committee, McHenry rammed through a flurry of bills to weaken the Consumer Financial Protection Bureau and leave millions of Americans vulnerable to financial industry abuse and predatory behavior. And McHenry signed onto an amicus brief in support of the lawsuit brought by predatory payday lenders that seeks to defund and defang the CFPB because it works so well cracking down on bad industry behavior and returning money to victims of abusive industry practices.