United States Senate Committee On Banking and Currency
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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]


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.


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




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[6]
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[7]
Phil Gramm Republican Texas 2001
Paul Sarbanes Democratic Maryland 2001-2003[8]
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-present

See also


  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

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.



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