Waters Announces Financial Services Subcommittee Chairs
Last week, Congresswoman Maxine Waters (D-Calif.), Chairwoman of the House Financial Services Committee (HFSC), announced the HFSC Subcommittee Chairs. She reshuffled some assignments and added two new subcommittee chairmen: Jim Himes of Connecticut and Ed Perlmutter of Colorado.
Himes will lead the National Security, International Development, and Monetary Policy Subcommittee while Perlmutter will chair the Consumer Protection and Financial Institutions Subcommittee.
Himes is replacing Rep. Emanuel Cleaver II (D-Mo.), who will now head the Subcommittee on Housing, Community Development, and Insurance. Perlmutter is taking the place of Rep. Gregory Meeks (D-N.Y.), who will still sit on the committee but chair the House Foreign Affairs Committee, according to Roll Call.
As a former Goldman Sachs banker, Himes is known for asking pointed questions to Federal Reserve officials and banking executives at hearings. Alternatively, Perlmutter spent most of the last session pressing legislation to let financial institutions serve state-licensed cannabis companies. Because it is illegal at the federal level, most dispensaries have to operate as a cash-only business.
There will also be several new Democratic members on the committee, including Rep. Ritchie Torres (D-N.Y.), Jake Auchincloss (D-Mass.), and Nikema Williams (D-Ga.).
On the minority side of the aisle, Ranking Member Patrick McHenry (R-N.C.) announced Reps. Ann Wagner (R-Mo.) will serve as Vice Ranking Member of the full committee and Ranking Member of the Subcommittee on Diversity and Inclusion; Rep. Bill Huizenga (R-Mich.) will be Ranking Member on the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets; Rep. Blaine Luetkemeyer (R-Mo.) will be Ranking Member on the Subcommittee on Consumer Protection and Financial Institutions; Rep. Steve Stivers (R-Ohio) will be Ranking Member on the Subcommittee on Housing, Community Development, and Insurance; Rep. French Hill (R-Ark.) will be Ranking Member on the Subcommittee on National Security, International Development, and Monetary Policy; and Rep. Andy Barr (R-Ky.) will be Ranking Member on the Subcommittee on Oversight and Investigations.
Waters has not announced who will lead the two task forces on fintech and artificial intelligence that were created last Congress.