United States Senate Committee On Banking, Housing, and Urban Affairs
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Senate Banking Committee
Standing committee
Active
Seal of the United States Senate.svg
United States Senate
116th Congress
History
Formed1913
Formerly known asCommittee on Banking and Currency
Leadership
ChairSherrod Brown (D)
Since January 20, 2021
Ranking memberPat Toomey (R)
Since January 20, 2021
Structure
Seats25 members
Political partiesMajority (13)
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

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]

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, 116th Congress

Majority Minority

Members, 115th Congress

Majority Minority

Source[5]

Subcommittees

Chairs

Committee on Banking and Currency, 1913-1970

Committee on Banking, Housing, and Urban Affairs, 1970-present

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. ^ a b "Jurisdiction". United States Committee on Banking, Housing, and Urban Affairs. Retrieved 2019. This article incorporates text from this source, which is in the public domain.
  5. ^ "U.S. Senate: Committee on Banking, Housing, and Urban Affairs". www.senate.gov. Retrieved 2017.
  6. ^ Died June 17, 1936
  7. ^ 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.
  8. ^ 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

External links



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