United States Senate Committee on Banking, Housing, and Urban Affairs

The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency and frequently referred to in the press as the Senate Banking Committee) has jurisdiction 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.[1][2][3]

Senate Banking Committee
Standing committee
Active

United States Senate
117th Congress
History
Formed1913
Formerly known asCommittee on Banking and Currency
Leadership
ChairSherrod Brown (D)
Since February 3, 2021
Ranking memberPat Toomey (R)
Since February 3, 2021
Structure
Seats24 members
Political partiesMajority (12)
  •   Democratic (12)
Minority (12)
Jurisdiction
Policy areasBanking, insurance price controls, deposit insurance, monetary policy, financial assistance, currency, coinage, housing, urban development, mass transit
Subcommittees
Meeting place
534 Dirksen Senate Office Building
Washington, D.C.
Website
www.banking.senate.gov

    History

    The Committee is one of twenty standing committees in the United States Senate. The Committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator Robert L. Owen of Oklahoma sponsored the Federal Reserve Act. Senator Owen served as the Committee's inaugural Chairman.

    Jurisdiction

    In accordance of Rule XXV of the United States Senate, all proposed legislation, messages, petitions, memorials, and other matters relating to the following subjects are referred to the Senate Banking Committee:

    1. Banks, banking, and financial institutions;
    2. Control of prices of commodities, rents, and services;
    3. Deposit insurance;
    4. Economic stabilization and defense production;
    5. Export and foreign trade promotion;
    6. Export controls;
    7. Federal monetary policy, including Federal Reserve System;
    8. Financial aid to commerce and industry;
    9. Issuance and redemption of notes;
    10. Money and credit, including currency and coinage;
    11. Nursing home construction;
    12. Public and private housing (including veterans' housing);
    13. Renegotiation of Government contracts; and,
    14. Urban development and urban mass transit.[4]

    The Senate Banking Committee is also charged to "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."[4]

    Members, 117th Congress
    Main article: 117th United States Congress
    Majority Minority

    Subcommittees
    Subcommittee Chair Ranking Member
    Economic Policy Tom Cotton (R-AR) Catherine Cortez Masto (D-NV)
    Financial Institutions and Consumer Protection Tim Scott (R-SC) Elizabeth Warren (D-MA)
    Housing, Transportation, and Community Development David Perdue (R-GA) Bob Menendez (D-NJ)
    National Security and International Trade and Finance Ben Sasse (R-NE) Mark Warner (D-VA)
    Securities, Insurance, and Investment Pat Toomey (R-PA) Chris Van Hollen (D-MD)

    Chairs

    Committee on Banking and Currency, 1913–1970
    Chair Party State Years
    Robert L. Owen Democratic Oklahoma 1913–1919
    George P. McLean Republican Connecticut 1919–1927
    Peter Norbeck Republican South Dakota 1927–1933
    Duncan U. Fletcher Democratic Florida 1933–1936[5]
    Robert F. Wagner Democratic New York 1937–1947
    Charles W. Tobey Republican New Hampshire 1947–1949
    Burnet R. Maybank Democratic South Carolina 1949–1953
    Homer Capehart Republican Indiana 1953–1955
    J. William Fulbright Democratic Arkansas 1955–1959
    A. Willis Robertson Democratic Virginia 1959–1966
    John J. Sparkman Democratic Alabama 1967–1970

    Committee on Banking, Housing, and Urban Affairs, 1970–present
    Chair Party State Years
    John J. Sparkman Democratic Alabama 1970–1975
    William Proxmire Democratic Wisconsin 1975–1981
    Jake Garn Republican Utah 1981–1987
    William Proxmire Democratic Wisconsin 1987–1989
    Donald Riegle Democratic Michigan 1989–1995
    Alfonse M. D'Amato Republican New York 1995–1999
    Phil Gramm Republican Texas 1999–2001
    Paul Sarbanes Democratic Maryland 2001[6]
    Phil Gramm Republican Texas 2001
    Paul Sarbanes Democratic Maryland 2001–2003[7]
    Richard Shelby Republican Alabama 2003–2007
    Chris Dodd Democratic Connecticut 2007–2011
    Tim Johnson Democratic South Dakota 2011–2015
    Richard Shelby Republican Alabama 2015–2017
    Mike Crapo Republican Idaho 2017–2021
    Sherrod Brown Democratic Ohio 2021–present

    Historical membership rosters

    116th Congress
    Main article: 116th United States Congress
    Majority Minority
    Subcommittees
    Subcommittee Chair Ranking Member
    Economic Policy Tom Cotton (R-AR) Catherine Cortez Masto (D-NV)
    Financial Institutions and Consumer Protection Tim Scott (R-SC) Elizabeth Warren (D-MA)
    Housing, Transportation, and Community Development David Perdue (R-GA) Bob Menendez (D-NJ)
    National Security and International Trade and Finance Ben Sasse (R-NE) Mark Warner (D-VA)
    Securities, Insurance, and Investment Pat Toomey (R-PA) Chris Van Hollen (D-MD)

    115th Congress
    Majority Minority

    Source[8]

    See also

    References
    1. "User Clip: Senate Banking Hearing 2/26/19 | C-SPAN.org". www.c-span.org.
    2. "User Clip: FED Powell - before Senate Banking... committee 2/26/2019 | C-SPAN.org". www.c-span.org.
    3. "Rules Of The Senate | U.S. Senate Committee on Rules & Administration". www.rules.senate.gov.
    4. "Jurisdiction". United States Committee on Banking, Housing, and Urban Affairs. Retrieved May 31, 2019. This article incorporates text from this source, which is in the public domain.
    5. Died June 17, 1936
    6. At the beginning of the 107th Congress in January 2001 the Senate was evenly divided. With a Democratic president and vice president still serving until January 20, the Democratic vice president was available to break a tie, and the Democrats thus controlled the Senate for 17 days, from January 3 to January 20. On January 3 the Senate adopted S. Res. 7 designating Democratic senators as committee chairmen to serve during this period and Republican chairmen to serve effective at noon on January 20, 2001.
    7. 5 On June 6, 2001, the Democrats took control of the Senate after Senator James Jeffords (VT) changed from the Republican Party to Independent and announced that he would caucus with the Democrats
    8. "U.S. Senate: Committee on Banking, Housing, and Urban Affairs". www.senate.gov. Retrieved January 7, 2017.


    This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.