House Financial Services Committee Chairman Patrick McHenry (R-NC) announced yesterday that he will not be seeking reelection to the North Carolina seat he has held for almost 20 years.
Over the years whether serving as the Committee Chairman or as the Ranking Member, he has been a tireless champion for financial innovation on the House Financial Services Committee.
While staunchly conservative, he has often worked in a bipartisan way to advance legislation to modernize financial services in this country. When I interviewed him back in 2017 I found him to be knowledgeable, thoughtful and not afraid to bring innovative ideas to the floor of the House.
He will leave a gaping hole in the House Financial Service Committee as Doug Ellenoff, Managing Partner of Ellenoff, Grossman, and Schole said yesterday:
“I can’t adequately express how profoundly his absence will affect the financial service industry generally and all proposed financial service legislation that might have advanced and had a positive impact on capital market activities and our capital markets.”
Here’s hoping in his final year as the Committee Chairman he manages to get some of the pending legislation over the line.
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Staunch Supporter of Crowdfunding, Fintech, Congressman Patrick McHenry Announces He Will Not Seek Re-Election
www.crowdfundinsider.com
Congressman Patrick McHenry, a Republican from North Carolina and current Chairman of the House Financial Services Committee, has announced his intent not to seek re-election to the seat in Congress he has held for 20 years.
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