Summary
Mission: Oversight over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts.
Democratic Members (Majority):
Sherrod Brown, Ohio, Chair
Jack Reed, Rhode Island
Bob Menendez, New Jersey
Jon Tester, Montana
Mark Warner, Virginia
Elizabeth Warren, Massachusetts
Chris Van Hollen, Maryland
Catherine Cortez Masto, Nevada
Tina Smith, Minnesota
Raphael Warnock, Georgia
John Fetterman, Pennsylvania
Laphonza Butler, California
Republican Members (Minority): Tim Scott, South Carolina, Ranking Member
Mike Crapo, Idaho
Mike Rounds, South Dakota
Thom Tillis, North Carolina
John Kennedy, Louisiana
Bill Hagerty, Tennessee
Cynthia Lummis, Wyoming
J.D. Vance, Ohio
Katie Britt, Alabama
Kevin Cramer, North Dakota
Steve Daines, Montana
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Committee on Banking, Housing and Urban Affairs conducts Annual Oversight of Wall Street Firms
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News
Majority Press Releases can be found here at the committee website.
Minority Press Releases can be found here at the committee website.
Committee Website – September 23, 2021
Today, U.S. Sen. Sherrod Brown (D-OH) – Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after President Biden announced the nomination of Saule Omarova to lead the Office of the Comptroller of the Currency (OCC). If confirmed, Omarova would be the first woman, and the first person of color to lead the agency in its 158-year history.
“Saule Omarova has spent her career working with both Republicans and Democrats on systemic financial stability issues and is well-versed in new financial technologies. Her experience as a policymaker, in the private sector, and in academia will allow her to work with stakeholders across our financial system to ensure the economy works for everyone, and to protect our economic recovery from the risky activities of Wall Street and other bad actors,” said Brown. “I call on my colleagues on the Banking and Housing Committee to support this historic nominee to this position critical to our economy.”
About
The U.S. Senate Committee on Banking, Housing, and Urban Affairs is one of twenty Senate committees tasked with conducting Senate business related to specialized areas of legislative interest. Although the Senate has a longstanding history of writing and passing legislation focusing on our nation’s banks, the Senate Banking Committee was not formally established until 1913, with Senator Robert Owen of Oklahoma, sponsor of the landmark Federal Reserve Act, as its first Chairman; since then, the Committee has undergone various transformations and reorganizations. Now known as the Committee on Banking, Housing, and Urban Affairs to underscore the diversity of issues under its purview, the Committee plays an integral role in managing legislation that affects the lives of many Americans. These areas of jurisdiction include, but are not limited to: banking, insurance, financial markets, securities, housing, urban development and mass transit, international trade and finance, and economic policy (an official list of these legislative and policy issues can be found in the Jurisdiction section of our website). Further information about how Senate Committees generally operate can be found here.
Jurisdiction.
Extracts From the Standing Rules of The Senate
Rule XXV, Standing Committees
1. The following standing committees shall be appointed at the commencement of each Congress and shall continue and have the power to act until their successors are appointed, with leave to report by bill or otherwise on matters within their jurisdictions:
(d)(1) Committee on Banking, Housing and Urban Affairs, to which committee shall by referred all proposed legislation, messages, petitions, memorials and other matters relating to the following subjects:
- Banks, banking, and financial institutions.
- Control of prices of commodities, rents and services.
- Deposit insurance.
- Economic stabilization and defense production.
- Export and foreign trade promotion.
- Export controls.
- Federal monetary policy, including the Federal Reserve System.
- Financial aid to commerce and industry.
- Issuance and redemption of notes.
- Money and credit, including currency and coinage.
- Nursing home construction.
- Public and private housing (including veterans housing).
- Renegotiation of Government contracts.
- Urban development and urban mass transit.
(2) Such Committee shall also study and review on a comprehensive basis, matters relating to international economic policy as it affects United States monetary affairs, credit, and financial institutions; economic growth, urban affairs, and credit, and report thereon from time to time.
Source: Committee website
FAQs
Source: Committee website
Contact
Locations
U.S. Senate Committee on Banking, Housing, and Urban Affairs
534 Dirksen Senate Office Building
Washington, D.C. 20510
Phone: (202) 224-7391
Fax: (202) 224-5137
Web Links
Legislation
Bills
Source: Committee website
Hearings
Source: Committee website
Subcommittees
Economic Policy
Source: Committee on Banking, Housing and Urban Affairs conducts Annual Oversight of Wall Street Firms
The Subcommittee on Economic Policy oversees economic growth, employment and price stability, federal monetary policy, including the policy functions of the Federal Reserve System; the Council of Economic Advisers; money and credit, including currency, coinage, and notes; control of prices of commodities, rents and services; economic stabilization and defense production; the Defense Production Act; financial aid to commerce and industry; loan guarantees; flood insurance; and disaster assistance carried out by the Federal Emergency Management Agency within the Department of Homeland Security.
Majority members:
Elizabeth Warren, Massachusetts, Chair
Jack Reed, Rhode Island
Bob Menendez, New Jersey
Chris Van Hollen, Maryland
Tina Smith, Minnesota
John Fetterman, Pennsylvania
Minority members:
John Kennedy, Louisiana, Ranking Member
Mike Rounds, South Dakota
Thom Tillis, North Carolina
Kevin Cramer, North Dakota
Steve Daines, Montana
Financial Institutions and Consumer Protection
Source: Wikipedia
The Subcommittee on Financial Institutions oversees banks, savings associations, credit unions and other financial institutions, including deposit insurance, and e-commerce.
It also oversees the Federal Home Loan Bank System, regulatory activities of the Federal Reserve System, the Office of the Comptroller of the Currency and the Office of Thrift Supervision within the Treasury Department, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration
Majority members:
Raphael Warnock, Georgia, Chair
Mark Warner, Virginia
Elizabeth Warren, Massachusetts
Catherine Cortez Masto, Nevada
Chris Van Hollen, Maryland
Tina Smith, Minnesota
John Fetterman, Pennsylvania
Minority members:
Thom Tillis, North Carolina, Ranking Member
Cynthia Lummis, Wyoming
Kevin Cramer, North Dakota
Mike Crapo, Idaho
J.D. Vance, Ohio
Katie Britt, Alabama
Housing, Transportation, and Community Development
Source: Wikipedia
The Subcommittee on Housing, Transportation, and Community Development is the primary oversight committee for the U.S. Department of Housing and Urban Development (HUD). The subcommittee oversees urban mass transit systems and general urban affairs and development issues, HUD community development programs; the Federal Housing Administration; the Rural Housing Service; and Fannie Mae and Freddie Mac, federal corporations that help Americans with the costs of homeownership. The subcommittee also oversees all issues related to public and private housing, senior housing, nursing home construction, and Indian housing issues.
Majority members:
Tina Smith, Minnesota, Chair
Jack Reed, Rhode Island
Bob Menendez, New Jersey
Jon Tester, Montana
Catherine Cortez Masto, Nevada
Raphael Warnock, Georgia
John Fetterman, Pennsylvania
Laphonza Butler, California
Minority members:
Cynthia Lummis, Wyoming, Ranking Member
Mike Rounds, South Dakota
Mike Crapo, Idaho
Bill Hagerty, Tennessee
John Kennedy, Louisiana
Jerry Moran, Kansas
J.D. Vance, Ohio
Katie Britt, Alabama
National Security and International Trade and Finance
Source: Wikipedia
The Subcommittee on Security and International Trade and Finance oversees export and foreign trade promotion, federal export controls and financing, international economic policy, and international financial and development institutions. International organizations or federal agencies that fall under its jurisdiction are the World Bank, the International Monetary Fund, the U.S. Export-Import Bank, the International Trade Administration, and the Bureau of Industry and Security.
Majority members:
Mark Warner, Virginia, Chair
Jon Tester, Montana
Chris Van Hollen, Maryland
Catherine Cortez Masto, Nevada
Laphonza Butler, California
Minority members:
Bill Hagerty, Tennessee, Ranking Member
Steve Daines, Montana
Katie Britt, Alabama
Kevin Cramer, North Dakota
Securities, Insurance, and Investment
Source: Wikipedia
The Subcommittee on Securities, Insurance, and Investment oversees issues related to securities, annuities, and other financial investments. This includes the Securities Exchange Commission, the Securities Investor Protection Corporation (SIPC), and the Commodity Futures Trading Commission. The subcommittee also is responsible for oversight of government-issued securities, financial exchanges and markets, financial derivatives, accounting standards, and insurance.
Majority members:
Bob Menendez, New Jersey, Chair
Jack Reed, Rhode Island
Mark Warner, Virginia
Elizabeth Warren, Massachusetts
Raphael Warnock, Georgia
Jon Tester, Montana
Laphonza Butler, California
Minority members:
Mike Rounds, South Dakota, Ranking Member
Mike Crapo, Idaho
Thom Tillis, North Carolina
John N. Kennedy, Louisiana
Bill Hagerty, Tennessee
J.D. Vance, Ohio
More Information
Key Issues
Source: Committee website
The Economic Growth, Regulatory Relief and Consumer Protection Act
Coronavirus Aid, Relief, And Economic Security Act (CARES ACT)
Resources
Source: Committee website
Campaign Finance
Source: Open Secrets webpages
