The United States House Committee on Financial Services, also referred to as the House Banking Committee and previously known as the Committee on Banking and Currency, is the
committee
A committee or commission is a body of one or more persons subordinate to a deliberative assembly. A committee is not itself considered to be a form of assembly. Usually, the assembly sends matters into a committee as a way to explore them more ...
of the
United States House of Representatives that oversees the entire
financial services industry, including the securities, insurance, banking and housing industries. The Financial Services Committee also oversees the work of the
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after ...
, the
United States Department of the Treasury, the
U.S. Securities and Exchange Commission and other financial services regulators.
The House Committee on Financial Services is considered to be one of the House's most powerful committees.
It is currently chaired by Democrat
Maxine Waters from California. Waters was elected as chair of the committee, and assumed office on January 3, 2019. The Ranking Member is Republican Patrick McHenry from North Carolina, he has served as the Ranking Member since January 3, 2019.
Jurisdiction
Under the rules of the 113th Congress, the Financial Services Committee's jurisdiction includes:
# Banks and banking, including deposit insurance and Federal monetary policy
# Economic stabilization, defense production, renegotiation, and control of the price of commodities, rents, and services
# Financial aid to commerce and industry (other than transportation)
# Insurance generally
# International finance
# International financial and monetary organizations
# Money and credit, including currency and the issuance of notes and redemption thereof; gold and silver, including the coinage thereof; valuation and revaluation of the dollar
# Public and private housing
# Securities and exchanges
# Urban development
History
The Banking and Currency Committee was created on December 11, 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.
Members, 117th Congress
Resolutions electing members: (Chair), (Ranking Member), (D), (R), (R), (R)
Subcommittees
The Financial Services Committee operates with six
subcommittees. The jurisdiction over insurance was transferred in 2001 to the then-House Banking and Financial Services Committee from the
House Energy and Commerce Committee
The Committee on Energy and Commerce is one of the oldest standing committees of the United States House of Representatives. Established in 1795, it has operated continuously—with various name changes and jurisdictional changes—for more tha ...
. 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
asmoved to a new Subcommittee on Insurance, Housing and Community Opportunity
112th Congress
The 112th United States Congress was a meeting of the legislative branch of the United States federal government, from January 3, 2011, until January 3, 2013. It convened in Washington, D.C. on January 3, 2011, and ended on January 3, 2013, 17 ...
]." In the 115th United States Congress, 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.
List of chairs
List of ranking members
Historical membership rosters
116th Congress
Sources: (Chair), (Ranking Member), (D), (R), (R), (R)
;Subcommittees
115th Congress
114th Congress
Sources: (Chair), (Ranking Member), (R), (D)
113th Congress
112th Congress
Source: https://financialservices.house.gov/uploadedfiles/113th_congress_membership.pdf
111th Congress
Source: https://financialservices.house.gov/uploadedfiles/111thmembers.pdf
110th Congress
109th Congress
108th Congress
107th Congress
See also
*
*
References
External links
House Committee on Financial Services HomepageArchive
House Financial Services Committee Legislation activity and reports, Congress.gov.
House Financial Services Committee Hearings and Meetings Video Congress.gov.
{{United States congressional committees
Financial Services
1865 establishments in Washington, D.C.
Organizations established in 1865