Oct 31, 02:25 PM

Patrick McHenry Leads Demand for Briefings on Asset Management Changes and ActBlue Investigation of Several Hundred Records

Chairman Patrick McHenry, along with Representatives Andy Barr and Bill Huizenga, has formally requested a briefing and documentation from FDIC Chair Martin Gruenberg regarding modifications to asset manager passivity agreements. This letter underscores the ongoing scrutiny of asset management practices within the financial sector. Meanwhile, Chairman Bryan Steil and Senate Permanent Subcommittee on Investigations Ranking Member Ron Johnson have also requested a classified briefing from the Treasury, FBI, and Director of National Intelligence as part of the investigation into the Democratic donor platform ActBlue. The Oversight Committee, led by Chairman James Comer, is currently reviewing several hundred records that may link ActBlue to potential financial crimes, following a request from Comer for further investigation into the matter. Additionally, McHenry has led a response from Financial Services Committee Republicans to the Federal Reserve, FDIC, and OCC regarding their request for information on bank-fintech partnerships, highlighting the evolving regulatory landscape for financial technology.