United States House of Representatives Committee on Financial Services

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Background
United States CongressUnited States SenateUnited States House of RepresentativesUnited States Constitution113th United States Congress112th United States Congress
The United States House of Representatives Committee on Financial Services is a standing committee of the U.S. House of Representatives.

Leadership

113th congress

Jeb Hensarling (R) was appointed committee chair in the 113th Congress.[1]

Maxine Waters was appointed as the top ranking Democrat on the committee, despite past ethics questions.[2]

112th congress

The committee chair in the 112th Congress was Spencer Bachus (R).[3]

Membership

2013-2014 (113th Congress)

Committee on Financial Services Members, 2013-2014
Democratic members (27)Republican members (33)
Maxine Waters (California) Ranking MemberJeb Hensarling (Texas) Chair
Carolyn B. Maloney (New York) Gary G. Miller (California) Vice Chair
Nydia M. Velázquez (New York) Spencer Bachus (Alabama) Chairman Emeritus
Brad Sherman (California) Peter T. King (New York)
Gregory W. Meeks (New York) Edward R. Royce (California)
Michael E. Capuano (Massachusetts) Frank D. Lucas (Oklahoma)
Rubén Hinojosa (Texas) Shelley Moore Capito (West Virginia)
William Lacy Clay (Missouri) Scott Garrett (New Jersey)
Carolyn McCarthy (New York) Randy Neugebauer (Texas)
Stephen F. Lynch (Massachusetts) Patrick T. McHenry (North Carolina)
David Scott (Georgia) John Campbell (California)
Al Green (Texas) Michele Bachmann (Minnesota)
Emanuel Cleaver (Missouri) Kevin McCarthy (California)
Gwen Moore (Wisconsin) Stevan Pearce (New Mexico)
Keith Ellison (Minnesota) Bill Posey (Florida)
Ed Perlmutter (Colorado) Michael G. Fitzpatrick (Pennsylvania)
James A. Himes (Connecticut) Lynn A. Westmoreland (Georgia)
Gary C. Peters (Michigan) Blaine Luetkemeyer (Missouri)
John C. Carney, Jr. (Delaware) Bill Huizenga (Michigan)
Terri A. Sewell (Alabama) Sean P. Duffy (Wisconsin)
Bill Foster (Illinois) Robert Hurt (Virginia)
Dan Kildee (Michigan) Michael G. Grimm (New York)
Patrick Murphy (Florida) Steve Stivers (Ohio)
John Delaney (Maryland) Stephen Lee Fincher (Tennessee)
Kyrsten Sinema (Arizona) Marlin A. Stutzman (Indiana)
Joyce Beatty (Ohio) Mick Mulvaney (South Carolina)
Denny Heck (Washington) Randy Hultgren (Illinois)
Dennis A. Ross (Florida)
Robert Pittenger (North Carolina)
Ann Wagner (Missouri)
Andy Barr (Kentucky)
Tom Cotton (Arkansas)
Keith Rothfus (Pennsylvania)

2011-2012 (112th Congress)

Subcommittees

Capital Markets, and Government Sponsored Enterprises

Jurisdiction: securities, exchanges, and finance; capital markets activities, including business capital formation and venture capital; activities involving futures, forwards, options, and other types of derivative instruments; the Securities and Exchange Commission; secondary market organizations for home mortgages, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Agricultural Mortgage Corporation; the Federal Housing Finance Agency; and the Federal Home Loan Banks.[4]

Financial Institutions and Consumer Credit

Jurisdiction: all agencies, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Federal Reserve System, the Office of Thrift Supervision, and the National Credit Union Administration, which directly or indirectly exercise supervisory or regulatory authority in connection with, or provide deposit insurance for, financial institutions, and the establishment of interest rate ceilings on deposits; all matters related to the Bureau of Consumer Financial Protection; the chartering, branching, merger, acquisition, consolidation, or conversion of financial institutions; consumer credit, including the provision of consumer credit by insurance companies, and further including those matters in the Consumer Credit Protection Act dealing with truth in lending, extortionate credit transactions, restrictions on garnishments, fair credit reporting and the use of credit information by credit bureaus and credit providers, equal credit opportunity, debt collection practices, and electronic funds transfers; creditor remedies and debtor defenses, Federal aspects of the Uniform Consumer Credit Code, credit and debit cards, and the preemption of State usury laws; consumer access to financial services, including the Home Mortgage Disclosure Act and the Community Reinvestment Act; the terms and rules of disclosure of financial services, including the advertisement, promotion and pricing of financial services, and availability of government check cashing services; deposit insurance; and consumer access to savings accounts and checking accounts in financial institutions, including lifeline banking and other consumer accounts.[4]

Housing and Insurance

Jurisdiction: insurance generally; terrorism risk insurance; private mortgage insurance; government sponsored insurance programs, including those offering protection against crime, fire, flood (and related land use controls), earthquake and other natural hazards; the Federal Insurance Office; housing (except programs administered by the Department of Veterans Affairs), including mortgage and loan insurance pursuant to the National Housing Act; rural housing; housing and homeless assistance programs; all activities of the Government National Mortgage Association; housing construction and design and safety standards; housing related energy conservation; housing research and demonstration programs; financial and technical assistance for nonprofit housing sponsors; housing counseling and technical assistance; regulation of the housing industry (including landlord/tenant relations); and real estate lending including regulation of settlement procedures; community development and community and neighborhood planning, training and research; national urban growth policies; urban/rural research and technologies; and regulation of interstate land sales; and, the qualifications for and designation of Empowerment Zones and Enterprise Communities (other than matters relating to tax benefits).[4]

Monetary Policy and Trade

Jurisdiction: financial aid to all sectors and elements within the economy; economic growth and stabilization; defense production matters as contained in the Defense Production Act of 1950, as amended; domestic monetary policy, and agencies which directly or indirectly affect domestic monetary policy, including the effect of such policy and other financial actions on interest rates, the allocation of credit, and the structure and functioning of domestic financial institutions; coins, coinage, currency, and medals, including commemorative coins and medals, proof and mint sets and other special coins, the Coinage Act of 1965, gold and silver, including the coinage thereof (but not the par value of gold), gold medals, counterfeiting, currency de nominations and design, the distribution of coins, and the operations of the Bureau of the Mint and the Bureau of Engraving and Printing; and, development of new or alternative forms of currency.[4]

Oversight and Investigations

Jurisdiction

According to the official House website, the jurisdiction of the Financial Services Committee includes the following:

  1. all issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges, monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing.
  2. oversees the Nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation’s capital markets.
  3. oversees the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank.


Contact

2129 Rayburn House Office Building
Washington, DC 20515

Phone: (202) 225-7502
Press: (202) 226-0471

See also

External links

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References