Washington, D.C. – Today, Senator Lisa Blunt Rochester (D-Del.) announced her appointment to three subcommittees on the Senate Banking Committee for the 119th Congress. Senator Blunt Rochester will now serve on the Subcommittees on Economic Policy; Housing, Transportation, and Community Development; and Securities, Insurance, and Investment.
“Delaware continues to be at the center of our nation’s economy, from our small businesses to our large corporations. I am proud to serve my state on these three vital subcommittees,” said Senator Blunt Rochester. “The Senate Banking Committee plays an important role in shaping our nation’s economic policy and ensuring financial market stability. I am ready to get to work with my colleagues on both sides of the aisle to reduce inflationary pressures, lower rising costs of housing, and protect consumers from unfair practices.”
“In the 119th Congress, we have an opportunity to deliver tangible results for the American people. As we return the committee to regular order, our subcommittees will have a key role in vetting and developing legislation within our jurisdiction. I’m also proud to announce the Subcommittee on Digital Assets, which will ensure the committee is at the forefront of legislation to provide regulatory clarity for the industry. I look forward to working with and empowering subcommittee leadership to ensure we are promoting economic opportunity and uplifting all Americans,” said Chairman Tim Scott.
“The work of this Committee and its subcommittees is critical – from lowering housing costs and protecting Americans from getting ripped off to growing industry, promoting innovation, and creating jobs here at home,” said Ranking Member Warren. “I look forward to working with the Democratic and Republican leaders and members of each subcommittee to help families across the country build a better future.”
The U.S. Senate Committee on Banking, Housing, and Urban Affairs is one of twenty Senate committees tasked with conducting Senate business related to specialized areas of legislative interest. Although the Senate has a longstanding history of writing and passing legislation focusing on our nation’s banks, the Senate Banking Committee was not formally established until 1913, with Senator Robert Owen of Oklahoma, sponsor of the landmark Federal Reserve Act, as its first Chairman; since then, the Committee has undergone various transformations and reorganizations.
Now known as the Committee on Banking, Housing, and Urban Affairs to underscore the diversity of issues under its purview, the Committee plays an integral role in managing legislation that affects the lives of many Americans. These areas of jurisdiction include, but are not limited to: banking, insurance, financial markets, securities, housing, urban development and mass transit, international trade and finance, and economic policy.
The Committee is led by Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA). The Committee is currently made up of 24 Senators; 13 Republicans, and 11 Democrats.
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