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House Financial Services Committee

Standing committee
Active United States House of Representatives 118th Congress
History
Formed	December 11, 1865
Leadership
Chair	Patrick McHenry (R) Since January 3, 2023
Ranking member	Maxine Waters (D) Since January 3, 2023
Vice chair	French Hill (R) Since January 3, 2023
Structure
Seats	52
Political parties	Majority (29)   Republican (29) Minority (23)   Democratic (23)
Website
financialservices.house.gov

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v t e

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 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.

The House Committee on Financial Services is considered to be one of the House's most powerful committees.

It is currently chaired by Republican Patrick McHenry from North Carolina, having assumed office in 2023. He previously served as the committee's Ranking Member. The Ranking Member is Democrat Maxine Waters from California, who previously chaired the committee under a Democrat majority in the House.

Jurisdiction

Under the rules of the 113th Congress, the Financial Services Committee's jurisdiction includes:

1. Banks and banking, including deposit insurance and Federal monetary policy
2. Economic stabilization, defense production, renegotiation, and control of the price of commodities, rents, and services
3. Financial aid to commerce and industry (other than transportation)
4. Insurance generally
5. International finance
6. International financial and monetary organizations
7. 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
8. Public and private housing
9. Securities and exchanges
10. 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, 118th Congress

Resolutions electing members: H.Res. 14 (Chair), H.Res. 15 (Ranking Member), H.Res. 56 (R), H.Res. 57 (D), H.Res. 71 (amending rank)

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. 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 moved to a new Subcommittee on Insurance, Housing and Community Opportunity ." In the 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.

Current subcommittees

List of chairs

List of ranking members

Historical membership rosters

117th Congress

Resolutions electing members: H.Res. 9 (Chair), H.Res. 10 (Ranking Member), H.Res. 62 (D), H.Res. 63 (R), H.Res. 511 (R), H.Res. 1159 (R)

Subcommittees

116th Congress

Sources: H.Res. 7 (Chair), H.Res. 8 (Ranking Member), H.Res. 57 (D), H.Res. 68 (R), H.Res. 596 (R), H.Res. 801 (R)

Subcommittees

115th Congress

114th Congress

Sources: H.Res. 6 (Chair), H.Res. 7 (Ranking Member), H.Res. 29 (R), H.Res. 45 (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

93rd Congress

See also

• United States Senate Committee on Banking, Housing, and Urban Affairs
• List of current United States House of Representatives committees
• Lavelle, Kathryn C. Money and Banks in the American Political System. NY: Cambridge. 97811017609167

References

1. Merle, Renae (January 16, 2019). "Alexandria Ocasio-Cortez vs. Wall Street: Lawmaker wins spot on powerful House committee". The Washington Post. Retrieved June 28, 2022.
2. "Jurisdiction". financialservices.house.gov. Financial Services Committee. Retrieved February 25, 2021. This article incorporates text from this source, which is in the public domain.
3. "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 November 26, 2010.
4. Lehmann, R. J. (January 20, 2011). "Insurance gets top billing on new House subcommittee". SNL Financial. Archived from the original on February 25, 2021. Retrieved January 27, 2011.
5. "Pearce to head committee on terrorism finances". The Arizona Republic. January 9, 2017. Retrieved February 27, 2017.
6. "McHenry Announces Financial Services Subcommittee Chairs and Jurisdiction for 118th Congress | Financial Services Committee". financialservices.house.gov. Retrieved January 18, 2023.
7. "Ranking Member Waters Announces Subcommittee Membership for Democratic Caucus on House Financial Services Committee". U.S. House Committee on Financial Services Democrats. February 1, 2023. Retrieved February 2, 2023.
8. Waters Opening Statement at Committee Organizational Meeting and Markup to Adopt Committee Rules
9. McHenry Announces Republican Financial Services Subcommittee Assignments

External links

• 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.

v t e Chairs of the United States House Committee on Financial Services
Pomeroy Garfield Hooper Maynard Cox Buckner Crapo Buckner Curtin Wilkins Dorsey Bacon Springer Walker Brosius Fowler Vreeland Pujo Glass Phelan Platt McFadden Steagall Spence Wolcott Spence Wolcott Spence Patman Reuss St. Germain González Leach Oxley Frank Bachus Hensarling Waters McHenry Hill (designate)

• Committees of the United States House of Representatives
• 1865 establishments in Washington, D.C.
• Organizations established in 1865