Patrick McHenry actually said...

"Crowdfunding: GATE is encouraged by the Entrepreneur Access to Capital Act sponsored by Congressman McHenry and President Obama's support for crowdfunding initiatives."

"My concern with the purpose of the ban on general solicitation--I, obviously, want to limit fraud and certain communications that would lead to fraud."

"Most startups have a difficult time accessing the capital they need."

"The Entrepreneur Access to Credit Act simply heeds the President's call to cut the red tape for startups."