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U.S. House Financial Services Committee

Definition

The United States House Committee on Financial Services 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 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 chaired by Jeb Hensarling and the ranking Democrat is Maxine Waters.

What is 'U.S. House Financial Services Committee'

The congressional committee responsible for monitoring, writing legislation and enforcing existing laws that affect the financial services and housing-related industries in the U.S. Committee members - who are elected members of the U.S. House of Representatives - oversee all businesses and organizations involved in securities, insurance, banking, housing and real estate.


It also has oversight for several federal departments, agencies, government-sponsored enterprises (GSEs) and internationally-affiliated organizations including: Fannie Mae (Federal National Mortgage Association), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Bank, Freddie Mac (Federal Home Loan Mortgage Corporation), International Monetary Fund and the U.S. Department of Housing and Urban Development.

Explaining 'U.S. House Financial Services Committee'

The U.S. House Financial Services Committee was formed in 1865 and was originally known as the Committee on Banking and Currency. Its Senate counterpart is the U.S. Senate Committee on Banking, Housing & Urban Affairs. There are 70 congressional members on the House Committee - the majority of members are from the current party holding the majority in the U.S. House of Representatives.


Further Reading


Interest-group competition and the organization of congress: theory and evidence from financial services' political action committees
www.jstor.org [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Can special interests buy congressional votes? Evidence from financial services legislationCan special interests buy congressional votes? Evidence from financial services legislation
www.journals.uchicago.edu [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Capital market reactions to the passage of the Financial Services Modernization Act of 1999Capital market reactions to the passage of the Financial Services Modernization Act of 1999
www.sciencedirect.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Was there a US house price bubble? An econometric analysis using national and regional panel dataWas there a US house price bubble? An econometric analysis using national and regional panel data
www.sciencedirect.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Credit rating agencies in capital markets: A review of research evidence on selected criticisms of the agenciesCredit rating agencies in capital markets: A review of research evidence on selected criticisms of the agencies
journals.sagepub.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Completing the single market in financial services: the politics of competing advocacy coalitionsCompleting the single market in financial services: the politics of competing advocacy coalitions
www.tandfonline.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

Supporting social enterprises to support vulnerable consumers: the example of community development finance institutions and financial exclusionSupporting social enterprises to support vulnerable consumers: the example of community development finance institutions and financial exclusion
link.springer.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

The changing landscape of the financial services industry: What lies ahead?The changing landscape of the financial services industry: What lies ahead?
papers.ssrn.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …

The democratization of finance? Promises, outcomes and conditionsThe democratization of finance? Promises, outcomes and conditions
www.tandfonline.com [PDF]
… system is adopted at the beginning of this cen- tury, just after the average tenure of US … 1168 THE AMERICAN ECONOMIC REVIEW DECEMBER 1998 … and subcommittee has specialized jurisdiction over a particular set of issues so members of the House Banking Committee …



Q&A About U.S. House Financial Services Committee


What is the congressional committee responsible for?

The congressional committee responsible for monitoring, writing legislation and enforcing existing laws that affect the financial services and housing-related industries in the U.S.

What is a government sponsored enterprise ?

A GSE or Government Sponsored Enterprise refers to a private company that has been chartered by Congress to provide certain public goods or services under specific conditions with partial government backing such as debt guarantees or access to low cost capital through preferred stock purchase agreements with Treasury Department agencies like FHA/HUD/FHLB/FNMA etc .

Is there an international organization affiliated with this organization ?

Yes , there is an internationally affiliated organization associated with this organization called International Monetary Fund

What does this committee oversee?

This committee oversees all businesses and organizations involved in securities, insurance, banking, housing and real estate.

Who are members of this committee?

Members of this committee are elected members of the U.S. House of Representatives.

Where did this congressional committee originate from?

The U.S House Financial Services Committee was formed in 1865 but was originally known as the Committee on Banking & Currency until 1968 when it became known as its current name - The House Financial Services Committee . Its Senate counterpart is called the U S Senate Committee on Banking , Housing & Urban Affairs . There are 7 Congressional members on the House Committee - majority of them are from party holding majority in US house .

How many departments does this congressional committee oversee?

This congressional committee oversees several federal departments including Fannie Mae (Federal National Mortgage Association), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Bank, Freddie Mac (Federal Home Loan Mortgage Corporation), International Monetary Fund and the U.S. Department of Housing and Urban Development.