Friday, December 21, 2012

McHenry to lead financial services oversight subcommittee

U.S. Rep. Patrick McHenry, a North Carolina Republican, has been tapped to head the House Financial Services Committee's oversight and investigations subcommittee in the next session of Congress.

The committee oversees numerous federal regulators, including the Securities and Exchange Commission and the U.S. Treasury. In the last session, it also conducted hearings looking into the collapse of MF Global

“Government regulators need proper oversight in order to avoid bureaucratic overreach," McHenry said in a statement. "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.”

McHenry, who graduated from high school in Gastonia and now lives in Denver, N.C., will begin his fifth term in Congress when it convenes in January.