Pulaski Times

House Financial Services Committee Chairman Patrick McHenry and incoming Chairman French Hill have issued warnings to the Biden Administration regarding last-minute partisan rulemakings. In letters addressed to various agencies under the Committee's jurisdiction, McHenry and Hill emphasized the need for preserving documents as the Republican Party prepares to take control of the House, Senate, and White House.

The letters were directed to several key agencies, including the Department of the Treasury, Department of Housing and Urban Development, Securities and Exchange Commission, Federal Reserve Board, Federal Deposit Insurance Corporation, Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, and Federal Housing Finance Agency.

A portion of the letter to Treasury stated: "This letter serves as instruction to Treasury and its bureaus to preserve all existing and future documents, communications, and other information... that are or may potentially be responsive to a congressional inquiry...”

The lawmakers also advised against concluding partisan rulemaking in the remaining weeks before a new administration takes office. The Congressional Review Act allows Congress to disapprove such rulemakings made toward the end of a Congress. They noted: “The financial system... do not benefit from last-minute partisan rulemaking attempts.”

The full text of these letters is available through specified links for each agency.