The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency), also known as the Senate Banking Committee, has jurisdiction over matters related to
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
s and banking,
price controls
Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of go ...
,
deposit insurance
Deposit insurance, deposit protection or deposit guarantee is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance or deposit ...
,
export
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is a ...
promotion and controls, federal
monetary policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rat ...
, financial aid to commerce and industry, issuance of redemption of notes,
currency
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...
and coinage, public and private housing,
urban development
Urban means "related to a city". In that sense, the term may refer to:
* Urban area, geographical area distinct from rural areas
* Urban culture, the culture of towns and cities
Urban may also refer to:
General
* Urban (name), a list of peop ...
,
mass transit
Public transport (also known as public transit, mass transit, or simply transit) are forms of transport available to the general public. It typically uses a fixed schedule, route and charges a fixed fare. There is no rigid definition of whi ...
, and government contracts.
The current chair of the committee is Republican Tim Scott of
South Carolina
South Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders North Carolina to the north and northeast, the Atlantic Ocean to the southeast, and Georgia (U.S. state), Georg ...
, and the Ranking Member is Democrat Elizabeth Warren of
Massachusetts
Massachusetts ( ; ), officially the Commonwealth of Massachusetts, is a U.S. state, state in the New England region of the Northeastern United States. It borders the Atlantic Ocean and the Gulf of Maine to its east, Connecticut and Rhode ...
.
History
The committee is one of twenty
standing committees in the
United States Senate
The United States Senate is a chamber of the Bicameralism, bicameral United States Congress; it is the upper house, with the United States House of Representatives, U.S. House of Representatives being the lower house. Together, the Senate and ...
. The committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator
Robert L. Owen of
Oklahoma
Oklahoma ( ; Choctaw language, Choctaw: , ) is a landlocked U.S. state, state in the South Central United States, South Central region of the United States. It borders Texas to the south and west, Kansas to the north, Missouri to the northea ...
sponsored the
Federal Reserve Act
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.
After Dem ...
. Senator Owen served as the committee's inaugural chairman.
Jurisdiction
In accordance with 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:
# Banks, banking, and financial institutions;
# Control of the prices of commodities, rents, and services;
# Deposit insurance;
# Economic stabilization and defense production;
# Export and foreign trade promotion;
# Export controls;
# Federal monetary policy, including the Federal Reserve System;
# Financial aid to commerce and industry;
# Issuance and redemption of notes;
# Money and credit, including currency and coinage;
# Nursing home construction;
# Public and private housing (including veterans' housing);
# Renegotiation of Government contracts; and,
# Urban development and urban mass transit.
[ ]
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."
Members, 119th Congress
Subcommittees
Chairs
Committee on Banking and Currency, 1913–1970
Committee on Banking, Housing, and Urban Affairs, 1970–present
Historical membership rosters
;Subcommittees
117th Congress
;Subcommittees
116th Congress
;Subcommittees
115th Congress
Subcommittees
Source
114th Congress
Subcommittees
113th Congress
See also
*
List of current United States Senate committees
Many U.S. congressional committees ( standing committees and select or special committees) operate in the United States Senate. Senators can be a member of more than one committee.
Standing committees
, there are 88 subsidiary bodies of the U ...
*
United States House Committee on Financial Services
The United States House Committee on Financial Services, also referred to as the House Banking Committee and previously known as the Committee on Banking and Currency, is the United States congressional committee, committee of the United States ...
, the congressional counterpart of this committee
*
Pecora Commission
The Pecora Investigation was an inquiry begun on March 4, 1932, by the United States Senate Committee on Banking and Currency to investigate the causes of the Wall Street crash of 1929. The name refers to the fourth and final chief counsel for t ...
, the commission established to investigate the causes of the
Wall Street Crash of 1929
* Lavelle, Kathryn C. Money and Banks in the American Political System. NY: Cambridge. 97811017609167
References
External links
U.S. Senate Committee on Banking, Housing, and Urban AffairsArchive
Senate Banking, Housing, and Urban Affairs Committee
Legislation activity and reports, Congress.gov
Congress.gov is the online database of United States Congress legislative information. Congress.gov is a joint project of the Library of Congress, the House, the Senate and the Government Publishing Office.
Congress.gov was in beta in 2012, and ...
.
{{DEFAULTSORT:United States Senate Committee on Banking, Housing, And Urban Affairs
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
1913 establishments in Washington, D.C.
Organizations established in 1913