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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.[1]

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[2]

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.[3]

Members, 119th Congress

Majority Minority
[4]
  • Ann Wagner, Missouri
  • Andy Barr, Kentucky
  • Roger Williams, Texas
  • Tom Emmer, Minnesota
  • Barry Loudermilk, Georgia
  • Warren Davidson, Ohio
  • John W. Rose, Tennessee
  • Bryan Steil, Wisconsin
  • William Timmons, South Carolina
  • Marlin Stutzman, Indiana
  • Ralph Norman, South Carolina
  • Dan Meuser, Pennsylvania
  • Young Kim, California
  • Byron Donalds, Florida
  • Andrew Garbarino, New York
  • Scott L. Fitzgerald, Wisconsin
  • Mike Flood, Nebraska
  • Mike Lawler, New York
  • Monica De La Cruz, Texas
  • Andy Ogles, Tennessee
  • Zach Nunn, Iowa
  • Lisa McClain, Michigan
  • María Elvira Salazar, Florida
  • Troy Downing, Montana
  • Mike Haridopolos, Florida
  • Tim Moore, North Carolina
    		•  [5]
  • Ayanna Pressley, Massachusetts
  • Rashida Tlaib Al-Harbi, Michigan
  • Ritchie Torres, New York
  • Sylvia Garcia, Texas
  • Nikema Williams, Georgia
  • Brittany Pettersen, Colorado
  • Cleo Fields, Louisiana
  • Janelle Bynum, Oregon
  • Sam Liccardo, California

    • Resolutions electing members: H.Res. 13 (Chair), H.Res. 14 (Ranking Member), H.Res. 21 (R), H.Res. 22 (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].”[6] In the 115th Congress, a new subcommittee on Terrorism and Illicit Finance was created, dedicated to disrupting the financing of terrorist organizations.[7]

    Current subcommittees

    Subcommittee Chair[8] Ranking Member[9]
    Capital Markets Ann Wagner (R-MO) Brad Sherman (D-CA)
    Digital Assets, Financial Technology, and Artificial Intelligence Bryan Steil (R-WI) Stephen Lynch (D-MA)
    Financial Institutions Andy Barr (R-KY) Bill Foster (D-IL)
    Housing and Insurance Mike Flood (R-NE) Emanuel Cleaver (D-MO)
    National Security, Illicit Finance, and International Financial Institutions Warren Davidson (R-OH) Joyce Beatty (D-OH)
    Oversight and Investigations Dan Meuser (R-PA) Al Green (D-TX)

    Leadership

    Chairs
    Name Party State Start End
    Theodore Pomeroy James Garfield Samuel Hooper Horace Maynard Samuel Cox Aylett Buckner William Crapo Aylett Buckner Andrew Curtin Beriah Wilkins George Dorsey Henry Bacon William Springer Joseph Walker Marriott Brosius Charles Fowler Edward Vreeland Arsène Pujo Carter Glass Michael Phelan Edmund Platt Louis McFadden Henry Steagall Brent Spence Jesse Wolcott Brent Spence Jesse Wolcott Brent Spence Wright Patman Henry Reuss Fernand St. Germain Henry Gonzalez Jim Leach Mike Oxley Barney Frank Spencer Bachus Jeb Hensarling Maxine Waters Patrick McHenry French Hill Brent Spence Jesse Wolcott Brent Spence Jesse Wolcott Henry Talle Clarence Kilburn William Widnall Albert Johnson William Stanton Chalmers Wylie Jim Leach Henry González John LaFalce Barney Frank Spencer Bachus Barney Frank Maxine Waters Patrick McHenry Maxine Waters style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt298\”></span><span about=\”#mwt298\”>#FFB6B6\”</span>”},{“html”:””}]]}’> H.Res. 14 (Chair), H.Res. 15 (Ranking Member), H.Res. 56 (R), H.Res. 57 (D), H.Res. 71 (amending rank)

    Subcommittees

    Subcommittee Chair[10] Ranking Member[11]
    Capital Markets Ann Wagner (R-MO) Brad Sherman (D-CA)
    Digital Assets, Financial Technology and Inclusion French Hill (R-AR) Stephen Lynch (D-MA)
    Financial Institutions and Monetary Policy Andy Barr (R-KY) Bill Foster (D-IL)
    Housing and Insurance Warren Davidson (R-OH) Emanuel Cleaver (D-MO)
    National Security, Illicit Finance, and International Financial Institutions Blaine Luetkemeyer (R-MO) Joyce Beatty (D-OH)
    Oversight and Investigations Bill Huizenga (R-MI) Al Green (D-TX)

    117th Congress

    Majority Minority
    style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt318\”></span><span about=\”#mwt318\”>#FFB6B6\”</span>”},{“html”:””}]]}’>

    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

    Subcommittee Chair[12] Ranking Member[13]
    Consumer Protection and Financial Institutions Ed Perlmutter (D-CO) Blaine Luetkemeyer (R-MO)
    Diversity and Inclusion Joyce Beatty (D-OH) Ann Wagner (R-MO)
    Housing, Community Development and Insurance Emanuel Cleaver (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 Jim Himes (D-CT) French Hill (R-AR)
    Oversight and Investigations Al Green (D-TX) Andy Barr (R-KY)

    116th Congress

    Majority Minority
    style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt332\”></span><span about=\”#mwt332\”>#FFB6B6\”</span>”},{“html”:””}]]}’>

    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

    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)

    115th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt344\”></span><span about=\”#mwt344\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

    114th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt350\”></span><span about=\”#mwt350\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

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

    113th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt360\”></span><span about=\”#mwt360\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

    112th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt366\”></span><span about=\”#mwt366\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

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

    111th Congress

    Majority Minority
    style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt372\”></span><span about=\”#mwt372\”>#FFB6B6\”</span>”},{“html”:””}]]}’>

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

    110th Congress

    Majority Minority
    style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt378\”></span><span about=\”#mwt378\”>#FFB6B6\”</span>”},{“html”:””}]]}’>

    109th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt384\”></span><span about=\”#mwt384\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

    108th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt390\”></span><span about=\”#mwt390\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

    107th Congress

    Majority Minority
    style=\”color:black;background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt396\”></span><span about=\”#mwt396\”>#B0CEFF\”</span>”},{“html”:””}]]}’>

    93rd Congress

    Majority Minority
    style=\”color:black; background-color:</span><span typeof=\”mw:Nowiki\” about=\”#mwt402\”></span><span about=\”#mwt402\”>#FFB6B6\”</span>”},{“html”:””}]]}’>

    See also

    Further reading

    • 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.Public Domain 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. ↑ “Chairman Hill Announces Vice Chair, Subcommittee Chairs, and Other Key Positions of the House Financial Services Committee”. January 9, 2025.
    5. ↑ “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”. democrats-financialservices.house.gov. March 18, 2025. Retrieved August 7, 2025.
    6. ↑ 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.
    7. ↑ “Pearce to head committee on terrorism finances”. The Arizona Republic. January 9, 2017. Retrieved February 27, 2017.
    8. ↑ “Chairman Hill Announces Subcommittee Vice Chairs and Member Assignments of the House Financial Services Committee”. financialservices.house.gov. January 14, 2025.
    9. ↑ “Ranking Member Maxine Waters Announces Democratic Subcommittee Ranking Members, Subcommittee Membership for House Financial Services Committee”. U.S. House Committee on Financial Services Democrats. January 21, 2025. Retrieved February 4, 2025.
    10. ↑ “McHenry Announces Financial Services Subcommittee Chairs and Jurisdiction for 118th Congress | Financial Services Committee”. financialservices.house.gov. January 12, 2023. Retrieved January 18, 2023.
    11. ↑ “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.
    12. ↑ Waters Opening Statement at Committee Organizational Meeting and Markup to Adopt Committee Rules
    13. ↑ McHenry Announces Republican Financial Services Subcommittee Assignments