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Financial Services
Scott Garrett has been selected to serve as the Ranking Member of the Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises for the House Financial Services Committee for the 111th Congress.
As Ranking Member, Garrett will be the top Republican on the subcommittee with jurisdiction over the Securities and Exchange Commission and government-sponsored enterprises Fannie Mae and Freddie Mac. The subcommittee also handles all matters related to the insurance industry, the Federal Housing Finance Agency, capital markets activities such as business capital formation and venture capital, and derivative instruments.
“During his six years on the House Financial Services Committee, Scott Garrett has been a tireless advocate for the taxpayer and an avid protector of the free markets,” Financial Services Ranking Member Spencer Bachus said. “In the 111th Congress, complex and unprecedented financial markets issues will be in the forefront of the agenda, and I have no doubt that Scott Garrett’s leadership and vision as the Capital Markets Subcommittee Ranking Member will be an irrefutable asset to this Committee.”
Garrett responded by thanking Ranking Member Bachus and outlining the efforts he intends to pursue in his work on the subcommittee.
“I am grateful to Ranking Member Bachus for entrusting me with this position of immense responsibility. In addition, I eagerly anticipate the many opportunities to work closely with Subcommittee Chairman Kanjorski, as well as Committee Members on both sides of the aisle, on restoring confidence in our nation's financial sector. I look forward to working to promote secondary markets through free-market ideas such as Covered Bonds, reforming the GSEs and reviewing the impact of the recent government interference in the marketplace.”
Garrett possesses over 20 years of experience dealing with issues related to securities, finance and insurance. His notable legislative initiatives include efforts to ease the burden placed on small business by Sarbanes-Oxley, rein in the size and scope of Fannie Mae and Freddie Mac, and promote new and innovative mortgage securitization models. He has been a member of the Financial Services Committee since his election to Congress in 2002, serving on the Subcommittees on Capital Markets, Insurance, and Government-Sponsored Enterprises; Financial Institutions and Consumer Credit; and Housing and Community Opportunity. In addition, Garrett has been an active Member of the House Budget Committee. Prior to his election to Congress, Garrett served in the New Jersey General Assembly as the Chairman of the Banking and Insurance Committee.
Resources:
Financial Services Dictionary
Related
Documents:
Articles
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Garrett to Wall Street: No More Bailouts on My Watch
11.10.2010
Articles
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Reprieve for Wall Street Is Expected to Be Limited
11.4.2010
Articles
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GOP Pledges Major Changes to Dodd-Frank, Fannie and Freddie, CFPB
11.4.2010
Articles
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An Effort to Adapt a European-Style Tool to U.S. Mortgages
11.2.2010
Press Release
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Garrett Statement on FHFA Announcement to Double Size of Fannie and Freddie Bailout
10.21.2010
More Documents...
Related Files:
Inspector General Kenneth Donohue (April 2, 2009) Testimony to the Senate Appropriations Committee
Securities and Exchange Commission (September 2009) Annual Report on Nationally Recognized Statistical Rating Organizations (NRSROs)
Federal Trade Commission - Kovacic (July 28, 2009) FTC Response to Ranking Member Bachus regarding Consumer Financial Protection Agency Act of 2009
Office of Thrift Supervision (July 23, 2009) OTS Response to Ranking Member Bachus regarding Consumer Financial Protection Agency Act of 2009
NCTA, CTIA (September 15, 2009) Industry Letter regarding Consumer Financial Protection Agency Act of 2009
More Files...
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