chair mchenry: ok. you mentioned trigger leads. why do you mentioned trigger leads as it relates to data protection? dir. chopra: well, it is a privacy issue. i think when you apply for a mortgage loan, sometimes you then get inundated with calls, sometimes by sketchy players. i don't think most people think that when they apply for something, there's going to be a deluge, that everybody knows about it, and mortgage lenders feel that their customer say to them, "did you tell everyone?" this is a privacy issue in addition to one about fairness. chair mchenry: ok. now, 1033, i have a concern that if your regs are put in place, or your proposed regs, this really enshrines incumbents and the value of incumbents with data, financial data. how do you address that? dir. chopra: we want to make sure you don't have a bait and switch. you don't say i'm offering you an auto loan really to harvest it and sell or other purpose. what we are trying to do, mr. chairman, is defined with respect to secular uses, how do w

mchenry: time is up. next, the gentlewoman from the great state of indiana is now recognized for five minutes. >> thank you, mr. chairman, ranking member. thank you, chairman powell, for coming to speak with us today. it has been a long day. they give for being with us. one of the greatest strengths of our financial industry is the diversity of our banking system. i know firsthand how important it is for us to maintain options and choice for americans, whether somebody looking to open up a savings account or take out a loan to start a small business. increasingly however we have seen consolidation in the banking industry, increase the for smaller financial institutions to survive. one of the reasons is an excessive regulatory burden that many of the smaller banks face. on this can come in the form of new proposals and adjustments to liquidity requirements or things like basel iii end game, it can also be due to outdated technological abilities at the agencies, inefficiencies within the examination process

chair mchenry: the gentlewoman from texas, ms. delacruz. rep. delacruz: the cfpb was crated with a special mandate to guard against consumer harm. however it seems many of your rules are penalizing our small financial institutions that serve local communities like mine. the community is largely hispanic and a rural area. small banks and community are key contributors to places like mine. they help with economic growth and development. and like i said my district stems from the border of deep south texas all the way north to san antonio. our banks have unique community which they serve. concerned about many of the regulations the cfpb has written over the last three years. many organizations and associations have shared with you that section1071 rule is going to hurt our small businesses that have been leading efforts in our community. many people in the community are seeking capital to grow their businesses and do not want their racial or other demographic information to be part of the loan process. my biggest concern is the rules the cfpb and o

mchenry: mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous materials on the veto message of h.j.res. 109. the speaker pro tempore: without objection. mr. mchenry: mr. speaker, i rise in support of overriding president biden's veto of h.j.res. 109. it didn't have to be this way. it did not have to be this way. on digital assets, on the regulation of digital assets, on the functioning of a new asset class that a substantial number of americans and in the world are using, a new set of technology. but the biden administration has given -- has been given every opportunity to work with this congress on digital asset policy and to come to a reasonable conclusion on digital asset policy. in may, congress passed a resolution to overturn this year's exchange commission's s.a.b.121 with broad bipartisan support in both the house and the senate. and a lot has changed since that time. following that vote, the house pas

known for the amazing chesapeake bay, blue crabs, and the united states naval academy, the home of fort mchenry, the historic site that inspired the star-spangled banner, and the home of the next united states senator from maryland, larry hogan. maryland proudly casts are 37 votes for my friend, the 45th and 47 president of the united states, donald john trump. >> pursuant to the announcement of the delegation and the rules and procedures of this convention, maryland, 37 votes, president trump. texas. >> madam secretary. >> not only texas is the economic powerhouse of america where we back our police officers, and back are many women in uniform, not only does texas create more proper jobs every month and joe biden could ever dream, not only we are the state where no democrat has ever won a single statewide office since 1992. on behalf of our great governor greg abbott, our lieutenant governor and republican party of texas and our entire delegation, we cast all 161 of our delegates for the 45th and the 47th president, donald j. trump. thank you, and god bless you, and god bless texas. >> pursuan

in the next hour, representative patrick mchenry -- when i say ati sound patriotic.hat he expects to hear from fed chair jay powell today. "squawk box" will be right back. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. when we're young, we're told anything is possible... ...but only a few of us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, xfinity internet customers can buy one unlimited line and get one free for a year. get the fastest connection to paris with xfinity. >>> in the first of two appearances on capitol hill this week, fed chair jay powell warned that

mchenry. his lawyer issued a writ of habeas corpus to have him freed. under habeas corpus, which protects us from being detained without charges being filed and having an opportunity to defend ourselves in court. when the writ was suspended, the detention can be a definite. the commander at ft. mchenry refused citing lincoln's suspension and refused to release marion. roger tani, who was the chief justice of the supreme court but also a circuit court judge at the time the supreme court justices to turns writing riding the circuit, he came here to this case and he writes a withering opinion attacking lincoln about the suspension saying it is unconstitutional and expected to be arrested but he is not. this gives rise to the ex parte marion case which gives rise to one of the's case is in law school. in may 13, 1861, benjamin butler, who commanded the massachusetts regiment who suffered casualties on april 19 and who had been in command at the naval academy under the cover of darkness marches massachusetts troopers into baltimore city and set up shop on fe

so the commander at fort mchenry refused, citing lincoln's suspension and refused to release merriman. roger tani who was the chief justice of the supreme court, but at the time was also a circuit court judge because at that time the supreme court justices took turns writing circuit, as it is called. tony came to hear this case in baltimore and he writes a withering opinion attacking lincoln about the suspension, some constitutional. he expects to be arrested but he is not. so this gives rise to this ex parte merriman case which is probably one of the top 10 studied cases in law schools, i am told. so in may, may 13, 1861, and jim and butler would command the massachusetts regiment that had suffered casualties on april 19. and who had been in command at the naval academy under the cover of darkness, marches massachusetts troopers into baltimore city and they set up shop on federal hill overlooking the inner harbor to the south side. i am sure many of you have probably been on federal hill. butler points his cannon across what is now the inner harbor and threatens to open fire at the f

john mchenry, it is very good _ most voters. john mchenry, it is very good for— most voters.must about what happened in just ...justin just in terms of overall summing this up, this is seen as donald trump taking this as a victory, it is probably a partial victory in some sense, because the supreme court is not saying that this trial shouldn't go ahead, it is saying that the trialjudge that "you now have to decide which part of this indictment are protected, that donald trump carried out in an official capacity and which bits are carried out in a private capacity." but it will be incredibly complicated to work out where the lines are drawn. here is the thing, when thejudge in lines are drawn. here is the thing, when the judge in the trial comes back with their assessment, it is very likely that donald trump will appeal again, very likely that donald trump will appealagain, because very likely that donald trump will appeal again, because he believes he should have absolute immunity and believe this trial should not be going ahead in the first place. there is a chance he could

by francis scott key during the war of 1812, he was in baltimore harbor watching the assault on fort mchenryonically to the published british tune, now you know. thank you for sticking around for the full hour. a pleasure. always a great sport. that does it for us for "varney and company". coast-to-coast begins right now. rob: get whether democratic politicians are

. >> james garfield, william mchenry and former president candidate jfk.to get my shoe, his shoes were off. goes to the ambulance and comes home, what is going through his mind? of posttraumatic syndrome, what is the adrenaline, you realize you were shot. >> often times there is a bit of confusion people experience at the moment and they start thinking about basic things. i need to move, do i have my keys? those are common reactions people feel in the moment, there's a lot going on in confusion. very clear president trump start saying comments to reassure he is strong and wants people to remain confident and strong so that is typical for what you might see in the midst of a chaotic moment. >> you expect him to bounce off and he will go to the convention they say? >> it may be a band-aid or because he may need and it was a close call in good instincts. >> good to see you, as always. live coverage on fox news continues right after this.d ba♪

ladies and gentlemen, the honorable patrick mchenry, united states representative from the 10th district of north carolina carolina. please forgive. i didn't organize the program. had i organized a program, i would not follow. franklin graham or michael w smith. sir, forgive me. this will pass quickly. but one of the great moments and i would say the greatest moment of my service in congress was in 2012. redistricting you just incurred in north carolina, which is traditional, seasonal, and it was just getting to know new parts of my district when i got a call from the folks in reverend graham's office said that he would welcome the opportunity to meet his new congressman. and so you see my new district sitting it in a little town called a little college town called montreat. and this one to the valley of western carolina. and it was in this small town in western north carolina that reverend graham and his beloved ruth were marriage made their raised a family. he was just as comfortable chatting with locals at the coach house restaurant and neighboring black mountain as he was on the worl

by francis scott key during the war of 1812, he was in baltimore harbor watching the assault on fort mchenry when he penned the poem that was later set ironically to the published british tune, now you know. thank you for sticking around for the full hour. a pleasure. always a great sport. that does it for us for "varney and company". coast-to-coast begins right now. rob: get whether democratic politicians are bolting from joe biden, he should worry about democratic donors and they are. we are following some startling developments at the white house, markets are backing and so are the money guys backing away from president biden, he's going to put the cup bausch bosch on all that in wisconsin but there must be something going on here. >> president biden is at the white house, he will get into his motorcade at andrews air force base. the reason he's not taking marine one is a helicopter on the south lawn due to july 4th festivities. speaking of those festivities, last night president biden appeared to go off script in his remarks. >> president biden: by the way, i was in that world war i ceme

patrick mchenry by far. that would've been a smart move when you could decide to be speaker just to keep them. he's been in leadership. he's been in chairman. if you watch how he govern and very fair manner, i think most people would look back and say that exact same thing. >> thank you. >> something you just had reminded me of news over the weekend. chairman mccaul of foreign affairs and chairman turner of intelligence vote for the weekend came out and said that russian propaganda has quote, infected a good chunk of the gop base. these are two republican chairs. there even sing on the house floor. do you agree with them? >> they are referring to ukraine, some of you make the argument as you can. >> specifically about you can. >> what's happening here is use russia will put things out, this is happening in ukraine and some of repeats it by not checking it. that happens, there's of the countries doing bad scepters everyday. but what i think i'm listen, there's a lot of problems right now but i would also say

[laughter] >> i'm from mchenry's district. >> good man. >> i have a fun question and a serious questiond you pick my henry this could also be fun, we talked about democracy and the threat to democracy and you have the weaponization committee that you did in the beginning, can you talk about the weaponization of the judiciary system, the e $90 million that president trump has had to pay for legal fees and how that can be a threat to democracy. >> enter the discussion. of threat to democracy, i imagine most think of january 6. would that be fair? let me ask you this question. is it a threat to democracy if you keep somebody off the ballot? just because you don't like them. that's a big threat to democracy. what's been happening in this election is a threat to democracy if you use the court system to try to stop somebody? some could be right some could be wrong. you would think some of these cases seem like it's happening that way. the weaponization committee was really thcreated to go to the heart of your first question about democracy itself. if people are on all sides believing we've go

secretary yellen, in response to a letter from chairman mchenry, among others, regarding fsoc's calls to fill the spot market gap in digital assets, it was noted that, quote, crypto asset platforms engage in practices commonly subjected to greater regulation, including operating order book style markets and custody and crypto customer assets. end quote. those activities sound a lot like activities undertaken by centralized intermediaries and centralized intermediaries are undoubtedly an important piece of the regulatory puzzle for digital asset regulation. that's why this committee and the ag committee collaborated together on fit for the 21st century which provided a new regulatory framework with sufficient responsibility and resources for the cftc. however, i think it's important that we think about some of the unique characteristics in de-centralized systems as well. these protocols will allow willing buyers and willing sellers to find one another and make a trade based on the rules of the protocol to any of the market participants. here's my question. how do you think about decent

in fact the funding model was successfully used for the fort mchenry tunnel and baltimore, maryland the federal government advanced maryland it's required 10% maryland reimburse the federal government with revenue from that tunnel tolls over time for it as i mentioned earlier in my statement there are many important projects that are currently on the er backlog list. congress should determine equitable basement basis when projects have a greater share federal funding then what is allowed under the program statute. if congress does not require maryland to share in the cost of a project like replacement of the key bridge will have a revenue source how could congress require any other recipient of funding to pay their cost share. i look forward to gathering information and feedback from our witnesses on this matter i'm eager to hear about any updates on the status of the maryland dot effort to reconstruct the bridge including any new updates once cost estimates and scope of the project given responses to the agency request for proposals were due last month i look forward to learning more a

known for the amazing chesapeake bay, blue crabs, and the united states naval academy, the home of fort mchenrye that inspired the star-spangled banner, and the home of the next united states senator from maryland, larry hogan. maryland proudly casts are 37 votes for my friend, the 45th and 47 president of the united states, donald john trump. >> pursuant to the announcement of the delegation and the rules and procedures of this convention, maryland, 37 votes, president trump. texas. >> madam secretary. >> not only texas is the economic powerhouse of america where we back our police officers, and back are many women in uniform, not only does texas create more proper jobs every month and joe biden could ever dream, not only we are the state where no democrat has ever won a single statewide office since 1992. on behalf of our great governor greg abbott, our lieutenant governor and republican party of texas and our entire delegation, we cast all 161 of our delegates for the 45th and the 47th president, donald j. trump. thank you, and god bless you, and god bless texas. >> pursuant to the announcem

s 10% cost share.e in fact, this funding model was successfully used to construct the fort mchenry tunnel in baltimore, maryland. the federal government advanced maryland its required 10%, andma maryland reimbursed the federal government with revenue from the tunnel's tolls over time. as i mentioned earlier in my statement, there are many important projects that are currently on the er backlog list. congress should determine an equitable basis for when er projects should receive a greater share of federal funding than what is allowed under the program's statute. if congress does not require maryland to share in the costs of a project like the replacement of the key bridge, which will have a revenue source, how can congress require any other recipient of er program funding to pay their cost share? c i look forward to gathering information and feedback from our witnesses on this matter. i am also eager to hear about any updates on the status of the maryland d.o.t.'s efforts to construct the new bridge, including any updates to the cost estimate and scope of the project, given that responses

switching gears, secretary yellen n response to a letter from chairman mchenry among others regarding fsoc's call to fill the stock market calls and digital assets it was noted, quote, crypto asset platforms engaged in practices commonly subjected to greater regulation including operating order book style markets and custody in crypto customer assets, end quote. those activities sound a lot like activities undertaken by centralized intermediary and are undoubtedly important piece of riggulateory puzzle for digital asset regulation. provides new regulatory framework with responsibility and resources for cf tc that are not securities. however, i think it's important that we think of unique contractorrist knicks decentralized systems as well. these protocols will allow willing buyers and willing sellers to find one another and make trades based on the rule of protocol to any of the market participants. here is my question, how do you think of decentralized trading if not creating markets or involve custody of crypto assets, wouldn't the markets unique relative to most of understanding of

in fact, this funding model for successful used to construct the mchenry tunnel in maryland. reimbursed the federal government with revenue from the tunnel toll over time. as i mentioned earlier in my statement that are many important projects that are currently on the er backlog list. congress should determine an equitable basis for when er projects should receive a greater share of federal sherrington when it's allowed under the program statue. congress that require maryland to share and the cost of the project to replace the key bridge which will have revenue source, how can congress required in other recipient of your programs of funny to pay their costs of share? i i look for to gather informatn and feedback from our witnesses on this matter come also eager to hear providing updates on the status of the maryland unity efforts to reconstruct the bridge including in your updates on cost estimates and projects given responses to the request for proposals would u.s. market i look forward to rolling more about how maryland dot plans to deliver this project what the agency wil

am wondering here would you agree with any of what i just stated whether it came from me or ciaran mchenry or anyone else. speed i would just say it first of all. we are certainly fair game for any criticism people have. i think what we have learned and what we know is that having a central bank is really essential. if you want to have high and volatile inflation the quickest route to that would be to undermine the independence of the central bank of the fed in our case. i frankly think that view is widely held. i find up here on capitol hill in both political parties.>> solomon in the federal reserve is best for promoting economic stability? >> yes.>> thank you. >> i knew that our ranking member was going to come and deal with the is you of housing. she always does, and we all appreciate the fact she is obsessed with it, and i like that of session. but i am wondering as we try to figure out how to deal with this issue. my time has run out. >> thank you very much for being here today. based on comments made today and yesterday it appears you made quite a bit of progress on changes to the p