United States House Committee on Financial Services
Encyclopedia
United States Congressional committee
A congressional committee is a legislative sub-organization in the United States Congress that handles a specific duty . Committee membership enables members to develop specialized knowledge of the matters under their jurisdiction...
of the United States House of Representatives
United States House of Representatives
The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...
that oversees the entire financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
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
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
, the U.S. Securities and Exchange Commission, and other financial services regulators. It is chaired by Spencer Bachus
Spencer Bachus
Spencer Thomas Bachus III is the U.S. Representative for , serving since 1993. He is a member of the Republican Party and the senior member of the Alabama U. S. House delegation...
(R
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
-AL
Alabama
Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...
) and the ranking Democrat
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
is Barney Frank
Barney Frank
Barney Frank is the U.S. Representative for . A member of the Democratic Party, he is the former chairman of the House Financial Services Committee and is considered the most prominent gay politician in the United States.Born and raised in New Jersey, Frank graduated from Harvard College and...
(D-MA
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
).
History
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 CommitteeUnited States House Committee on Ways and Means
The Committee of Ways and Means is the chief tax-writing committee of the United States House of Representatives. Members of the Ways and Means Committee are not allowed to serve on any other House Committees unless they apply for a waiver from their party's congressional leadership...
. It continued to function under this name until 1968, when it assumed the current name.
Current members, 112th Congress
| Majority | Minority |
|---|---|
|
Barney Frank Barney Frank is the U.S. Representative for . A member of the Democratic Party, he is the former chairman of the House Financial Services Committee and is considered the most prominent gay politician in the United States.Born and raised in New Jersey, Frank graduated from Harvard College and... , Massachusetts, Ranking Member Maxine Waters Maxine Waters is the U.S. Representative for , and previously the 29th district, serving since 1991. She is a member of the Democratic Party.... , California Carolyn B. Maloney Carolyn Bosher Maloney is the U.S. Representative for , serving since 1993. She is a member of the Democratic Party. The district, popularly known as the "silk stocking district", includes most of Manhattan's East Side; Astoria and Long Island City in Queens; and Roosevelt Island.-Early life,... , New York Luis Gutiérrez Luis Vicente Gutiérrez is an American politician and the U.S. Representative for , serving since 1993. Gutiérrez was the first Latino to be elected to Congress from the Midwest. From 1986 until his election to Congress he served as a member of the Chicago City Council representing the 26th ward... , Illinois Nydia Velázquez Nydia Margarita Velázquez is the U.S. Representative for , serving since 1993. She is a member of the Democratic Party. The district includes residential areas of three boroughs... , New York Mel Watt Melvin Luther Watt is the United States House of Representatives for , serving since 1993. He is a member of the Democratic Party.-Early life, education and career:... , North Carolina Gary Ackerman Gary Leonard Ackerman is the U.S. Representative for , serving since a special election in 1983. He is a member of the Democratic Party... , New York Brad Sherman Bradley J. "Brad" Sherman is an American politician. He has been a Democratic member of the United States House of Representatives since 1997, representing .... , California Rubén Hinojosa Rubén E. Hinojosa is the U.S. House of Representative for , serving since 1997. He is a member of the Democratic Party. The district stretches from the Rio Grande Valley to historic Goliad County and the Coastal Bend region... , Texas William Lacy Clay, Jr. William Lacy Clay, Jr., usually known as Lacy Clay is the U.S. Representative for , serving since 2001. He is a member of the Democratic Party.... , Missouri Carolyn McCarthy Carolyn McCarthy is the U.S. Representative for , serving since 1997. She is a member of the Democratic Party. The district is located in central Long Island in west-central Nassau County and includes Mineola, the Five Towns, East Rockaway, Rockville Centre, Oceanside, Garden City, Hempstead,... , New York Joe Baca Joseph N. "Joe" Baca is the U.S. Representative for , serving since 2003. He is a member of the Democratic Party. The district, numbered as the 42nd from 1999 to 2003, is located in southwestern San Bernardino County and includes Fontana, Rialto, Ontario and parts of the city of San... , California Stephen Lynch (politician) Stephen F. Lynch is the U.S. representative for . He is a member of the Democratic Party who has served since 2001. Lynch was previously an ironworker and lawyer, and served in both chambers of the Massachusetts General Court.... , Massachusetts Brad Miller (congressman) Ralph Bradley "Brad" Miller is the U.S. Representative for , serving since 2003. District 13 includes all of Caswell and Person counties, and parts of Alamance, Granville, Guilford, Rockingham and Wake counties... , North Carolina David Scott (politician) David A. Scott is the U.S. Representative for , serving since 2003. He is a member of the Democratic Party.-Early life and education:Scott was born in Aynor, South Carolina and attended high school in Daytona Beach, Florida... , Georgia Al Green (politician) Alexander N. "Al" Green is the U.S. Representative from Texas' 9th congressional district . The district includes most of southwestern Houston, including most of that city's share of Fort Bend County. It also includes most of Missouri City.-Early life and career:Green was born in New Orleans,... , Texas Emanuel Cleaver Emanuel Cleaver II is a United Methodist pastor and the U.S. Representative for , serving since 2005. He is a member of the Democratic Party, and in January 2010 became chair of the Congressional Black Caucus.... , Missouri Gwen Moore Gwendolynne Sophia Moore is the U.S. Representative for , serving since 2005. She is a member of the Democratic Party.The district is based in Milwaukee and also includes South Milwaukee, Cudahy and St. Francis, and part of West Allis. She is the first woman to represent the district... , Wisconsin Keith Ellison (politician) Keith Maurice Ellison is the U.S. Representative for , serving since 2007. He is a member of the Democratic-Farmer-Labor Party. The district centers on Minneapolis. He was re-elected in 2010. Ellison is a co-chair of the Congressional Progressive Caucus.He is the first Muslim to be elected to the... , Minnesota Ed Perlmutter Edwin George "Ed" Perlmutter is the U.S. Representative for , serving since 2007. He is a member of the Democratic Party.- Early life, education and career:... , Colorado Joe Donnelly Joseph Simon "Joe" Donnelly, Sr. is the U.S. Representative for , serving since 2007. He is a member of the Democratic Party. Donnelly announced Monday May 9 that he would run for the United States Senate seat that is held by Republican Richard Lugar.-Early life, education and career:Joe Donnelly... , Indiana André Carson André D. Carson is the U.S. Representative for , serving since the special election in 2008. He is a member of the Democratic Party.... , Indiana Jim Himes James A. "Jim" Himes is an American businessman and U.S. Representative for , serving since 2009. He is a member of the Democratic Party.... , Connecticut Gary Peters (Michigan politician) Gary Peters is the U.S. Representative for , serving since 2009. He is a member of the Democratic Party. The district includes most of Oakland County, a suburban county northwest of Detroit. He previously represented the 14th District in the Michigan Senate, and was a political science professor at... , Michigan John C. Carney, Jr. John Charles Carney, Jr. is the U.S. Representative for . He is a member of the Democratic Party. He was the 24th Lieutenant Governor of Delaware from 2001 to 2009... , Delaware |
Source:
- Resolutions electing Republican members
- Resolutions electing Democratic members
Subcommittees
The Financial Services Committee operates with six subcommitteesUnited States Congressional subcommittee
A congressional subcommittee in the United States Congress is a subdivision of a United States congressional committee that considers specified matters and reports back to the full committee....
. This is an increase from five subcommittees in the 110th Congress
110th United States Congress
The One Hundred Tenth United States Congress was the meeting of the legislative branch of the United States federal government, between January 3, 2007, and January 3, 2009, during the last two years of the second term of President George W. Bush. It was composed of the Senate and the House of...
. The former Domestic and International Monetary Policy, Trade, and Technology Subcommitee has been split into two 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
112th United States Congress
The One Hundred Twelfth United States Congress is the current meeting of the legislative branch of the United States federal government, composed of the United States Senate and the United States House of Representatives. It convened in Washington, D.C. on January 3, 2011, and will end on January...
]."
| Subcommittee | Chair | Ranking Member |
|---|---|---|
| Capital Markets and Government-Sponsored Enterprises | Scott Garrett Scott Garrett Ernest Scott Garrett is the U.S. Representative for , serving since 2003. He is a member of the Republican Party. The district includes much of the northwestern portion of the state... (R-NJ) |
Maxine Waters Maxine Waters Maxine Waters is the U.S. Representative for , and previously the 29th district, serving since 1991. She is a member of the Democratic Party.... (D-CA) |
| Financial Institutions and Consumer Credit United States House Financial Services Subcommittee on Financial Institutions and Consumer Credit The U.S. House Financial Services Subcommittee on Financial Institutions and Consumer Credit is a subcommittee of the House Committee on Financial Services.-Jurisdiction:... |
Shelley Moore Capito Shelley Moore Capito Shelley Moore Capito is the U.S. Representative for , serving since 2001. She is a member of the Republican Party... (R-WV) |
Carolyn B. Maloney Carolyn B. Maloney Carolyn Bosher Maloney is the U.S. Representative for , serving since 1993. She is a member of the Democratic Party. The district, popularly known as the "silk stocking district", includes most of Manhattan's East Side; Astoria and Long Island City in Queens; and Roosevelt Island.-Early life,... (D-NY) |
| Insurance, Housing and Community Opportunity | Judy Biggert Judy Biggert Judith Borg "Judy" Biggert is the U.S. Representative for , serving since 1999. She is a member of the Republican Party.-Early life, education and career:... (R-IL) |
Luis Gutierrez Luis Gutiérrez Luis Vicente Gutiérrez is an American politician and the U.S. Representative for , serving since 1993. Gutiérrez was the first Latino to be elected to Congress from the Midwest. From 1986 until his election to Congress he served as a member of the Chicago City Council representing the 26th ward... (D-IL) |
| Domestic Monetary Policy and Technology United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology The U.S. House Financial Services Subcommittee on Domestic Monetary Policy and Technology is a subcommittee of the House Committee on Financial Services... |
Ron Paul Ron Paul Ronald Ernest "Ron" Paul is an American physician, author and United States Congressman who is seeking to be the Republican Party candidate in the 2012 presidential election. Paul represents Texas's 14th congressional district, which covers an area south and southwest of Houston that includes... (R-TX) |
William Clay, Jr. William Lacy Clay, Jr. William Lacy Clay, Jr., usually known as Lacy Clay is the U.S. Representative for , serving since 2001. He is a member of the Democratic Party.... (D-MO) |
| International Monetary Policy and Trade United States House Financial Services Subcommittee on International Monetary Policy and Trade The United States House Financial Services Subcommittee on International Monetary Policy and Trade is a subcommittee of the House Committee on Financial Services... |
Gary Miller Gary Miller Gary Gene Miller is the U.S. Representative for , and previously the 41st, serving since 2003. He is a member of the Republican Party.-Early life, education and career:... (R-CA) |
Carolyn McCarthy Carolyn McCarthy Carolyn McCarthy is the U.S. Representative for , serving since 1997. She is a member of the Democratic Party. The district is located in central Long Island in west-central Nassau County and includes Mineola, the Five Towns, East Rockaway, Rockville Centre, Oceanside, Garden City, Hempstead,... (D-NY) |
| Oversight and Investigations United States House Financial Services Subcommittee on Oversight and Investigations The U.S. House Subcommittee on Oversight and Investigations is a subcommittee of the House Committee on Financial Services.-Jurisdiction:The Subcommittee conducts oversight of the agencies, departments, and programs under the Committee’s jurisdiction... |
Randy Neugebauer Randy Neugebauer Robert Randolph "Randy" Neugebauer is the U.S. Representative for , serving since a special election in 2003. He is a member of the Republican Party. The district includes a large swath of West Texas, including Lubbock and Abilene... (R-TX) |
Michael Capuano (D-MA) |
As Committee on Banking and Currency (1865–1968)
- 1920–1931: Louis T. McFaddenLouis Thomas McFaddenLouis Thomas McFadden was a Republican member of the U.S. House of Representatives from Pennsylvania.-Early life:...
- 1931–1943: Henry B. Steagall
- 1963–1975: Wright PatmanWright PatmanJohn William Wright Patman was a U.S. Congressman from Texas in Texas's 1st congressional district and chair of the United States House Committee on Banking and Currency .-Early life:...
As House Committee on Banking, Finance, and Urban Affairs
- 1975–1981: Henry S. ReussHenry S. ReussHenry Schoellkopf Reuss was a Democrat U.S. Representative from Wisconsin.-Childhood and education:He was born in Milwaukee, Wisconsin and grew up in that city's German section. Reuss earned his A.B. from Cornell University in 1933 and was a member of the Sphinx Head Society. He then earned his LL.B...
(as House Committee on Banking, Currency, and Housing from 1975–1977) - 1981–1989: Fernand St. GermainFernand St. GermainFernand Joseph St. Germain is a former U.S. Representative from Rhode Island.Born in Blackstone, Massachusetts, St. Germain attended parochial schools in Woonsocket, Rhode Island. He graduated from Our Lady of Providence Seminary High School, 1945, and from Providence College, 1948...
- 1989–1995: Henry B. GonzálezHenry B. GonzalezHenry Barbosa González was a Democratic politician from the state of Texas. He represented Texas's 20th congressional district from 1961 to 1999.-Background:...
As House Committee on Financial Services (since 2001)
- 2001–2007: Mike OxleyMike OxleyMichael Garver "Mike" Oxley is an American politician of the Republican party who served as a U.S. representative from the 4th congressional district of Ohio....
- 2007–2011: Barney Frank
- 2011-present: Spencer BachusSpencer BachusSpencer Thomas Bachus III is the U.S. Representative for , serving since 1993. He is a member of the Republican Party and the senior member of the Alabama U. S. House delegation...