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United States House Committee on Financial Services

Standing committee of the United States House of Representatives

United States House Committee on Financial Services

Standing committee of the United States House of Representatives

FieldValue
nameHouse Financial Services Committee
typestanding
chamberhouse
congress119th
statusactive
formedDecember 11, 1865
chairFrench Hill
chair_partyR
chair_sinceJanuary 3, 2025
ranking_memberMaxine Waters
rm_partyD
rm_sinceJanuary 3, 2023
seats54
majority1R
majority1_seats30
minority1D
minority1_seats24
website(Republican)
(Democratic)

(Democratic) 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 French Hill from Arkansas, having assumed office in 2025. The ranking member is Democrat Maxine Waters from California, who previously chaired the committee under a Democratic 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, 119th Congress

MajorityMinority

Resolutions electing members: (Chair), (Ranking Member), (R), (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]." In the 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.

Current subcommittees

Subcommitteetitle=Chairman Hill Announces Subcommittee Vice Chairs and Member Assignments of the House Financial Services Committeeurl=https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409439date=January 14, 2025website=financialservices.house.gov}}Ranking Member
Capital MarketsAnn Wagner (R-MO)Brad Sherman (D-CA)
Digital Assets, Financial Technology, and Artificial IntelligenceBryan Steil (R-WI)Stephen Lynch (D-MA)
Financial InstitutionsAndy Barr (R-KY)Bill Foster (D-IL)
Housing and InsuranceMike Flood (R-NE)Emanuel Cleaver (D-MO)
National Security, Illicit Finance, and International Financial InstitutionsWarren Davidson (R-OH)Joyce Beatty (D-OH)
Oversight and InvestigationsDan Meuser (R-PA)Al Green (D-TX)

Leadership

NamePartyStateStartEnd
RepublicanNew York18651869
RepublicanOhio18691871
RepublicanMassachusetts18711873
RepublicanTennessee18731875
DemocraticNew York18751877
DemocraticMissouri18771881
RepublicanMassachusetts18811883
DemocraticMissouri18831885
DemocraticPennsylvania18851887
DemocraticOhio18871889
RepublicanNebraska18891891
DemocraticNew York18911893
DemocraticIllinois18931895
RepublicanMassachusetts18951899
RepublicanPennsylvania18991901
RepublicanNew Jersey19011909
RepublicanNew York19091911
DemocraticLouisiana19111913
DemocraticVirginia19131918
DemocraticMassachusetts19181919
RepublicanNew York19191920
RepublicanPennsylvania19201931
DemocraticAlabama19311943
DemocraticKentucky19431947
RepublicanMichigan19471949
DemocraticKentucky19491953
RepublicanMichigan19531955
DemocraticKentucky19551963
DemocraticTexas19631975
DemocraticWisconsin19751981
DemocraticRhode Island19811989
DemocraticTexas19891995
RepublicanIowa19952001
RepublicanOhio20012007
DemocraticMassachusetts20072011
RepublicanAlabama20112013
RepublicanTexas20132019
DemocraticCalifornia20192023
RepublicanNorth Carolina20232025
RepublicanArkansas2025present
NamePartyStateStartEnd
DemocraticKentucky19471949
RepublicanKentucky19491953
DemocraticKentucky19531955
RepublicanKentucky19551957
RepublicanIowa19571959
RepublicanNew York19591965
RepublicanNew Jersey19651975
RepublicanPennsylvania19751977
RepublicanOhio19771983
RepublicanOhio19831993
RepublicanIowa19931995
DemocraticTexas19951999
DemocraticNew York19992003
DemocraticMassachusetts20032007
RepublicanAlabama20072011
DemocraticMassachusetts20112013
DemocraticCalifornia20132019
RepublicanNorth Carolina20192023
DemocraticCalifornia2023present

Historical membership rosters

118th Congress

MajorityMinority

Resolutions electing members: (Chair), (Ranking Member), (R), (D), (amending rank)

Subcommittees

SubcommitteeChairRanking Member
Capital MarketsAnn Wagner (R-MO)Brad Sherman (D-CA)
Digital Assets, Financial Technology and InclusionFrench Hill (R-AR)Stephen Lynch (D-MA)
Financial Institutions and Monetary PolicyAndy Barr (R-KY)Bill Foster (D-IL)
Housing and InsuranceWarren Davidson (R-OH)Emanuel Cleaver (D-MO)
National Security, Illicit Finance, and International Financial InstitutionsBlaine Luetkemeyer (R-MO)Joyce Beatty (D-OH)
Oversight and InvestigationsBill Huizenga (R-MI)Al Green (D-TX)

117th Congress

MajorityMinority

Resolutions electing members: (Chair), (Ranking Member), (D), (R), (R), (R)

Subcommittees

SubcommitteeChairRanking Member
Consumer Protection and Financial InstitutionsEd Perlmutter (D-CO)Blaine Luetkemeyer (R-MO)
Diversity and InclusionJoyce Beatty (D-OH)Ann Wagner (R-MO)
Housing, Community Development and InsuranceEmanuel Cleaver (D-MO)Steve Stivers (R-OH)
Investor Protection, Entrepreneurship and Capital MarketsBrad Sherman (D-CA)Bill Huizenga (R-MI)
National Security, International Development and Monetary PolicyJim Himes (D-CT)French Hill (R-AR)
Oversight and InvestigationsAl Green (D-TX)Andy Barr (R-KY)

116th Congress

MajorityMinority

Sources: (Chair), (Ranking Member), (D), (R), (R), (R)

Subcommittees

SubcommitteeChairRanking Member
Consumer Protection and Financial InstitutionsGregory Meeks (D-NY)Blaine Luetkemeyer (R-MO)
Diversity and InclusionJoyce Beatty (D-OH)Ann Wagner (R-MO)
Housing, Community Development and InsuranceLacy Clay (D-MO)Steve Stivers (R-OH)
Investor Protection, Entrepreneurship and Capital MarketsBrad Sherman (D-CA)Bill Huizenga (R-MI)
National Security, International Development and Monetary PolicyEmanuel Cleaver (D-MO)French Hill (R-AR)
Oversight and InvestigationsAl Green (D-TX)Andy Barr (R-KY)

115th Congress

MajorityMinority

114th Congress

MajorityMinority

Sources: (Chair), (Ranking Member), (R), (D)

113th Congress

MajorityMinority

112th Congress

MajorityMinority

Source: https://financialservices.house.gov/uploadedfiles/113th_congress_membership.pdf

111th Congress

MajorityMinority

Source: https://financialservices.house.gov/uploadedfiles/111thmembers.pdf

110th Congress

MajorityMinority

109th Congress

MajorityMinority

108th Congress

MajorityMinority

107th Congress

MajorityMinority

93rd Congress

MajorityMinority

References

References

  1. Merle, Renae. (January 16, 2019). "Alexandria Ocasio-Cortez vs. Wall Street: Lawmaker wins spot on powerful House committee". [[The Washington Post]].
  2. "Jurisdiction". Financial Services Committee.
  3. "Chapter 5. Records of the Banking and Currency Committees". [[National Archives and Records Administration]].
  4. (January 9, 2025). "Chairman Hill Announces Vice Chair, Subcommittee Chairs, and Other Key Positions of the House Financial Services Committee".
  5. (March 18, 2025). "Ranking Member Maxine Waters Announces Congressman Sean Casten as Vice Ranking Member on House Financial Services Committee {{!}} U.S. House Committee on Financial Services Democrats".
  6. Lehmann, R. J.. (2011-01-20). "Insurance gets top billing on new House subcommittee". SNL Financial.
  7. (January 9, 2017). "Pearce to head committee on terrorism finances". The Arizona Republic.
  8. (January 14, 2025). "Chairman Hill Announces Subcommittee Vice Chairs and Member Assignments of the House Financial Services Committee".
  9. (January 21, 2025). "Ranking Member Maxine Waters Announces Democratic Subcommittee Ranking Members, Subcommittee Membership for House Financial Services Committee". U.S. House Committee on Financial Services Democrats.
  10. (January 12, 2023). "McHenry Announces Financial Services Subcommittee Chairs and Jurisdiction for 118th Congress {{!}} Financial Services Committee".
  11. (2023-02-01). "Ranking Member Waters Announces Subcommittee Membership for Democratic Caucus on House Financial Services Committee".
  12. [https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=407114 Waters Opening Statement at Committee Organizational Meeting and Markup to Adopt Committee Rules]
  13. [https://republicans-financialservices.house.gov/news/documentsingle.aspx?DocumentID=407871 McHenry Announces Republican Financial Services Subcommittee Assignments]
Info: Wikipedia Source

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