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.

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.[1][2]

Members, 116th Congress

Majority	Minority
Maxine Waters, California, Chair Carolyn B. Maloney, New York Nydia Velázquez, New York Brad Sherman, California Gregory Meeks, New York Lacy Clay, Missouri David Scott, Georgia Al Green, Texas Emanuel Cleaver, Missouri Ed Perlmutter, Colorado Jim Himes, Connecticut Bill Foster, Illinois Joyce Beatty, Ohio Denny Heck, Washington Juan Vargas, California Josh Gottheimer, New Jersey Vicente González, Texas Al Lawson, Florida Michael San Nicolas, Guam, Vice Chair Rashida Tlaib, Michigan Katie Porter, California Cindy Axne, Iowa Sean Casten, Illinois Ayanna Pressley, Massachusetts Ben McAdams, Utah Alexandria Ocasio-Cortez, New York Jennifer Wexton, Virginia Stephen F. Lynch, Massachusetts Tulsi Gabbard, Hawaii Alma Adams, North Carolina Madeleine Dean, Pennsylvania Jesús "Chuy" García, Illinois Sylvia Garcia, Texas Dean Phillips, Minnesota	Patrick McHenry, North Carolina, Ranking Member Frank Lucas, Oklahoma Bill Posey, Florida Blaine Luetkemeyer, Missouri Bill Huizenga, Michigan Steve Stivers, Ohio Ann Wagner, Missouri, Vice Ranking Member Andy Barr, Kentucky Scott Tipton, Colorado Roger Williams, Texas French Hill, Arkansas Tom Emmer, Minnesota Lee Zeldin, New York Barry Loudermilk, Georgia Alex Mooney, West Virginia Warren Davidson, Ohio Ted Budd, North Carolina David Kustoff, Tennessee Trey Hollingsworth, Indiana Anthony Gonzalez, Ohio John Rose, Tennessee Bryan Steil, Wisconsin Lance Gooden, Texas Denver Riggleman, Virginia William Timmons, South Carolina Van Taylor, Texas

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

Historical membership rosters

115th Congress

Majority	Minority
Jeb Hensarling, Texas, Chair Peter T. King, New York Ed Royce, California Frank Lucas, Oklahoma Patrick McHenry, North Carolina Steve Pearce, New Mexico Bill Posey, Florida Blaine Luetkemeyer, Missouri Bill Huizenga, Michigan Sean Duffy, Wisconsin Steve Stivers, Ohio Randy Hultgren, Illinois Dennis A. Ross, Florida Robert Pittenger, North Carolina Ann Wagner, Missouri Andy Barr, Kentucky Keith Rothfus, Pennsylvania Luke Messer, Indiana Scott Tipton, Colorado Roger Williams, Texas Bruce Poliquin, Maine Mia Love, Utah French Hill, Arkansas Tom Emmer, Minnesota Lee Zeldin, New York Dave Trott, Michigan Barry Loudermilk, Georgia Alex Mooney, West Virginia Tom MacArthur, New Jersey Warren Davidson, Ohio Ted Budd, North Carolina David Kustoff, Tennessee Claudia Tenney, New York Trey Hollingsworth, Indiana	Maxine Waters, California, Ranking Member Carolyn B. Maloney, New York Nydia Velázquez, New York Brad Sherman, California Gregory W. Meeks, New York Michael Capuano, Massachusetts William Clay, Jr., Missouri Stephen Lynch, Massachusetts David Scott, Georgia Al Green, Texas Emanuel Cleaver, Missouri Gwen Moore, Wisconsin Keith Ellison, Minnesota Ed Perlmutter, Colorado Jim Himes, Connecticut Bill Foster, Illinois Dan Kildee, Michigan, Vice Ranking Member John Delaney, Maryland Kyrsten Sinema, Arizona Joyce Beatty, Ohio Denny Heck, Washington Juan Vargas, California Josh Gottheimer, New Jersey Vicente González, Texas Charlie Crist, Florida Ruben Kihuen, Nevada

Members, 114th Congress

Majority	Minority
Jeb Hensarling, Texas, Chairman Peter T. King, New York Ed Royce, California Frank Lucas, Oklahoma Scott Garrett, New Jersey Randy Neugebauer, Texas Patrick McHenry, North Carolina Steve Pearce, New Mexico Bill Posey, Florida Mike Fitzpatrick, Pennsylvania Lynn Westmoreland, Georgia Blaine Luetkemeyer, Missouri Bill Huizenga, Michigan Sean Duffy, Wisconsin Robert Hurt, Virginia Steve Stivers, Ohio Stephen Fincher, Tennessee Marlin Stutzman, Indiana Mick Mulvaney, South Carolina Randy Hultgren, Illinois Dennis A. Ross, Florida Robert Pittenger, North Carolina Ann Wagner, Missouri Andy Barr, Kentucky Keith Rothfus, Pennsylvania Luke Messer, Indiana David Schweikert, Arizona Bob Dold, Illinois Frank Guinta, New Hampshire Scott Tipton, Colorado Roger Williams, Texas Bruce Poliquin, Maine Mia Love, Utah French Hill, Arkansas	Maxine Waters, California, Ranking Member Carolyn B. Maloney, New York Nydia Velázquez, New York Brad Sherman, California Gregory W. Meeks, New York Michael Capuano, Massachusetts Ruben Hinojosa, Texas William Clay, Jr., Missouri Stephen Lynch, Massachusetts David Scott, Georgia Al Green, Texas Emanuel Cleaver, Missouri Gwen Moore, Wisconsin Keith Ellison, Minnesota Ed Perlmutter, Colorado Jim Himes, Connecticut John Carney, Delaware Terri Sewell, Alabama Bill Foster, Illinois Dan Kildee, Michigan Patrick Murphy, Florida John Delaney, Maryland Kyrsten Sinema, Arizona Joyce Beatty, Ohio Denny Heck, Washington Juan Vargas, California

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

Subcommittees

Meeting of the House Financial Services Committee

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]."[3] In the 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.[4]

Subcommittee	Chair	Ranking Member
Consumer Protection and Financial Institutions	Gregory Meeks (D-NY)	Blaine Luetkemeyer (R-MO)
Diversity and Inclusion	Joyce Beatty (D-OH)	Ann Wagner (R-MO)
Housing, Community Development and Insurance	Lacy Clay (D-MO)	Steve Stivers R-OH
Investor Protection, Entrepreneurship and Capital Markets	Brad Sherman (D-CA)	Bill Huizenga (R-MI)
National Security, International Development and Monetary Policy	Emanuel Cleaver (D-MO)	French Hill (R-AR)
Oversight and Investigations	Al Green (D–TX)	Andy Barr (R-KY)

List of Chairs

Chairman	Party	State	Years
Theodore M. Pomeroy	Republican	New York	1865–1869
James A. Garfield	Republican	Ohio	1869–1871
Samuel Hooper	Republican	Massachusetts	1871–1873
Horace Maynard	Republican	Tennessee	1873–1875
Samuel S. Cox	Democratic	New York	1875–1877
Aylett Hawes Buckner	Democratic	Missouri	1877–1881
William W. Crapo	Republican	Massachusetts	1881–1883
Aylett Hawes Buckner	Democratic	Missouri	1883–1885
Andrew Gregg Curtin	Democratic	Pennsylvania	1885–1887
Beriah Wilkins	Democratic	Ohio	1887–1889
George W. E. Dorsey	Republican	Nebraska	1889–1891
Henry Bacon	Democratic	New York	1891–1893
William McK. Springer	Democratic	Illinois	1893–1895
Joseph H. Walker	Republican	Massachusetts	1895–1899
Marriott Henry Brosius	Republican	Pennsylvania	1899–1901
Charles N. Fowler	Republican	New Jersey	1901–1909
Edward B. Vreeland	Republican	New York	1909–1911
Arsène Pujo	Democratic	Louisiana	1911–1913
Carter Glass	Democratic	Virginia	1913–1918
Michael Francis Phelan	Democratic	Massachusetts	1918–1919
Edmund Platt	Republican	New York	1919–1920
Louis Thomas McFadden	Republican	Pennsylvania	1920–1931
Henry B. Steagall	Democratic	Alabama	1931–1943
Brent Spence	Democratic	Kentucky	1943–1947
Jesse P. Wolcott	Republican	Michigan	1947–1949
Brent Spence	Democratic	Kentucky	1949–1953
Jesse P. Wolcott	Republican	Michigan	1953–1955
Brent Spence	Democratic	Kentucky	1955–1963
Wright Patman	Democratic	Texas	1963–1975
Henry S. Reuss	Democratic	Wisconsin	1975–1981
Fernand St. Germain	Democratic	Rhode Island	1981–1989
Henry B. Gonzalez	Democratic	Texas	1989–1995
Jim Leach	Republican	Iowa	1995–2001
Mike Oxley	Republican	Ohio	2001–2007
Barney Frank	Democratic	Massachusetts	2007–2011
Spencer Bachus	Republican	Alabama	2011–2013
Jeb Hensarling	Republican	Texas	2013–2019
Maxine Waters	Democratic	California	2019–present

References

"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
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.
"Pearce to head committee on terrorism finances". The Arizona Republic. 9 January 2017. Retrieved 27 February 2017.

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.

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[1] "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.

[2] 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

[3] 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.

[4] "Pearce to head committee on terrorism finances". The Arizona Republic. 9 January 2017. Retrieved 27 February 2017.

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