Academic journal article ABA Banking Journal

New Leadership in House Financial Services Committee

Academic journal article ABA Banking Journal

New Leadership in House Financial Services Committee

Article excerpt

Rep. Maxine Waters (D-Calif.) assumed the chairman's gavel of the powerful House Financial Services Committee earlier this year, after serving as ranking member in the previous Congress. While the banking industry has not always seen eye-to-eye with Waters, there are several areas of potential policy alignment--including data security, anti-money laundering and Bank Secrecy Act reform, GSE reform and cannabis banking--that could receive bipartisan support over the next two years.

Hailing from North Carolina, Rep. Patrick McHenry (R-N.C.) has been in Congress since 2004, and has served on the Financial Services Committee since taking office. This year, McHenry was named ranking member of the House Financial Services Committee, after serving as vice chairman since the 114th Congress. In addition to his leadership of the committee, McHenry has also served as chief deputy majority whip and played a critical role in the passage of the 2017 tax reform bill.

Senate Banking Committee Gains Four New Members

Kevin Cramer (R-N.D.) Prior to his election to the Senate in November, Sen. Cramer served three terms as North Dakota's at-large member of the United States House of Representatives. He also served in various roles at the state level before coming to Congress. …

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