About The Financial Services Committee

During the 112^th Congress, the Committee will be at the forefront of an effort to end the bailout of Fannie Mae and Freddie Mac. Committee Republicans were the first to introduce a plan for Fannie Mae and Freddie Mac in July 2009. Additionally, Republicans have introduced 7 bills to protect taxpayers by ending the bailout of Fannie and Freddie. You can read more about this plan by clicking here.

Another priority of Chairman Spencer Bachus is bringing a real end to ‘too big to fail.’ The Dodd-Frank Act wrote ‘too big to fail’ into law, placing taxpayers at risk for future bailouts. The Committee will examine the taxpayer exposure of the bailout authority created under this law.

The House Financial Services Committee has jurisdiction over all issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges. Additionally, the Committee also has jurisdiction over monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing.

The Committee oversees the Nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation’s capital markets.

 

Agencies under oversight by the Committee include: the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank.