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.
The Committee is led by Chairman Richard C. Shelby (R-AL) and Ranking Member Sherrod Brown (D-OH). The Committee is currently made up of 22 Senators; 12 Republican, and 10 Democrat.
Chairman Crapo
Mike Crapo, the senior United States Senator for Idaho, was first elected to the Senate in 1998 and is currently serving his fourth term as U.S. Senator. He became a member of the Senate Banking, Housing, and Urban Affairs Committee at the beginning of his service in 1999.
In addition to serving as the Chairman of the Banking Committee, Crapo serves on the Finance Committee, Budget Committee, Judiciary Committee and the Committee on Indian Affairs. His sensible approach has earned him the respect of his colleagues, and he has been selected to serve in various other leadership roles in the 115th Congress, including Chief Deputy Republican Whip.
Prior to his Senate service, Crapo served three terms in the U.S. House of Representatives and eight years in the Idaho State Senate, including as Senate President Pro Tem from 1988-1992.
A native of Idaho Falls, Idaho, and lifelong Idahoan, Senator Crapo graduated cum laude from Harvard Law School after receiving his undergraduate degree from Brigham Young University. He and his wife, Susan Crapo, have five children and eight grandchildren.
Ranking Member Brown
U.S. Senator Sherrod Brown (D-Ohio), now serving in his second term, also serves on the Senate’s Agriculture, Finance, and Veterans Committees.
Sen. Brown has introduced bipartisan legislation that would ensure the very largest money center banks have enough capital to cover their losses, so taxpayers don’t have to, and would ensure a level playing field for other financial institutions. Working with his colleagues, in 2014 he helped pass legislation to ensure that companies primarily engaged in providing insurance are subject to capital standards that are tailored toward their business, rather than the capital standards in place for bank holding companies. He also authored a bill that would streamline the privacy notification process, removing costly burdens for small financial institutions and simplifying notifications provided to consumers.
With the housing crisis emerging early in Ohio, Sen. Brown fought for reforms to ensure that small lenders and community institutions remain competitive, homeowners are protected, and that there are accessible, affordable housing options for all Americans.
Prior to serving in the United States Senate, Brown served as a United States Representative for the 13th District, Ohio’s Secretary of State, a member of the Ohio General Assembly, and taught in Ohio’s public schools and at The Ohio State University.
