United States House Committee on Financial Services

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Meeting of the House Financial Services Committee

The United States House Committee on Financial Services (also referred to as the House Banking Committee) is the committee of the United States House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators. It is chaired by Jeb Hensarling (R-TX) and the ranking Democrat is Maxine Waters (D-CA).

History[edit]

The committee was once known as the Committee on Banking and Currency. The Banking and Currency Committee was created in 1865 to take over responsibilities previously handled by the Ways and Means Committee. It continued to function under this name until 1968, when it assumed the current name.[1]

Members[edit]

113th Congress[edit]

Majority Minority

Sources: H.Res. 6 (Chairs), H.Res. 7 (D), H.Res. 17 (R) and H.Res. 22 (D).

112th Congress[edit]

Majority Minority

Source:

Subcommittees[edit]

The Financial Services Committee operates with six subcommittees. This is an increase from five subcommittees in the 110th Congress. The former Domestic and International Monetary Policy, Trade, and Technology Subcommitee has been split into two subcommittees.[4] The jurisdiction over insurance was transferred in 2001 to the then-House Banking and Financial Services Committee from the House Energy and Commerce Committee. Since that time it had been the purview of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. But "with plans to reform Fannie Mae and Freddie Mac expected to take up much of that panel's agenda, insurance instead [was] moved to a new Subcommittee on Insurance, Housing and Community Opportunity [as of the 112th Congress]."[5] In the 113th Congress, the duties of the two subcommittees on monetary policy were once again merged into a single subcommittee.

Subcommittee Chair Ranking Member
Capital Markets and Government-Sponsored Enterprises Scott Garrett (R-NJ) Carolyn Maloney (D-NY)
Financial Institutions and Consumer Credit Shelley Moore Capito (R-WV) Gregory Meeks (D-NY)
Housing and Insurance Randy Neugebauer (R-TX) Michael Capuano (D-MA)
Monetary Policy and Trade John Campbell (R-CA) Lacy Clay (D-MO)
Oversight and Investigations Patrick McHenry (R-NC) Al Green (D-TX)

Chairmen[edit]

As Committee on Banking and Currency (1865–1968)[edit]

As House Committee on Banking, Finance, and Urban Affairs[edit]

As House Committee on Banking and Financial Services[edit]

As House Committee on Financial Services (since 2001)[edit]

See also[edit]

References[edit]

  1. ^ "Chapter 5. Records of the Banking and Currency Committees". Guide to the Records of the U.S. House of Representatives at the National Archives, 1789-1989 (Record Group 233). National Archives and Records Administration. Retrieved 26 November 2010. 
  2. ^ H.Res. 6
  3. ^ H.Res. 751, August 1, 2012
  4. ^ "Bachus Announces Ranking Members for Subcommittees" (Press release). Committee on Financial Services Republicans. 8 January 2009. Retrieved 26 November 2010. 
  5. ^ Lehmann, R.J. (2011-01-20). "Insurance gets top billing on new House subcommittee". SNL Financial. Archived from the original on 2011-01-27. Retrieved 2011-01-27. 
  6. ^ "Oxley Chosen as Financial Services Committee Chair". Insurance Journal. 5 January 2001. Retrieved 26 November 2010. 
  7. ^ "House Financial Services Committee Chairman Oxley Announces Retirement". National Association of Professional Insurance Agents. 8 November 2005. 

External links[edit]