United States House Committee on Financial Services
The United States House Committee on Financial Services, also referred to as the House Banking Committee and formerly known as the Committee on Banking and Currency, 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 Financial Services 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 currently chaired by Democrat Maxine Waters from California. Waters was elected as chair of the committee, and assumed office on January 3, 2019.
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. After passage of the 1978 Humphrey-Hawkins bill, the Board of Governors of the Federal Reserve must transmit a Monetary Policy Report to Congress to Congress twice a year, detailing its monetary policy. At that time, the Federal Reserve Chair appears before the House Committee on Financial Services (and Senate Banking Committee) to answer questions in an event that is often televised and widely commented upon.
Members, 116th CongressEdit
Historical membership rostersEdit
Members, 114th CongressEdit
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. 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]." In the 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.
|Investor Protection, Entrepreneurship and Capital Markets||Carolyn Maloney (D-NY)||Bill Huizenga (R-MI)|
|Consumer Protection and Financial Institutions||Gregory Meeks (D-NY)||Blaine Luetkemeyer (R-MO)|
|Housing, Community Development and Insurance||Lacy Clay (D-MO)||Sean Duffy (R-WI)|
|National Security, International Development and Monetary Policy||Emanuel Cleaver (D-MO)||Steve Stivers (R-OH)|
|Diversity and Inclusion||Joyce Beatty (D-OH)||Ann Wagner (R-MO)|
|Oversight and Investigations||Al Green (D–TX)||Andy Barr (R-KY)|
List of ChairsEdit
- "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.
- In at least the 96th Congress, the Committee title was Banking, Finance and Urban Affairs. https://en.wikipedia.org/wiki/96th_United_States_Congress#Committees
- Lavelle, Kathryn C. (2012). Money and Banks in the American Political System. Cambridge: Cambridge University Press. pp. 93–94. ISBN 9781139235624.
- 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. Cite uses deprecated parameter
- "Pearce to head committee on terrorism finances". The Arizona Republic. 9 January 2017. Retrieved 27 February 2017.
- House Committee on Financial Services Homepage (Archive)
- House Financial Services Committee. Legislation activity and reports, Congress.gov.
- House Financial Services Committee Hearings and Meetings Video. Congress.gov.