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 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.
The current chair of the committee is Republican Tim Scott of South Carolina, and the ranking member is Democrat Elizabeth Warren of Massachusetts.
History
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 chair.
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."
!Minority
|-
| valign=top |
- Tim Scott, South Carolina, Chair
- Mike Crapo, Idaho
- Mike Rounds, South Dakota
- Thom Tillis, North Carolina
- John Kennedy, Louisiana
- Bill Hagerty, Tennessee
- Cynthia Lummis, Wyoming
- Katie Britt, Alabama
- Pete Ricketts, Nebraska
- Jim Banks, Indiana
- Kevin Cramer, North Dakota
- Bernie Moreno, Ohio
- Dave McCormick, Pennsylvania
| valign=top |
- Elizabeth Warren, Massachusetts, Ranking Member
- Jack Reed, Rhode Island
- Mark Warner, Virginia
- Chris Van Hollen, Maryland
- Catherine Cortez Masto, Nevada
- Tina Smith, Minnesota
- Raphael Warnock, Georgia
- Andy Kim, New Jersey
- Ruben Gallego, Arizona
- Lisa Blunt Rochester, Delaware
- Angela Alsobrooks, Maryland
|}
Subcommittees
{|class="wikitable"
!Subcommittee
!Chair
!Ranking Member
|-
|Economic Policy
|John Kennedy (R-LA)
|Raphael Warnock (D-GA)
|-
|Financial Institutions and Consumer Protection
|Thom Tillis (R-NC)
|Catherine Cortez Masto (D-NV)
|-
|Housing, Transportation, and Community Development
|Katie Britt (R-AL)
|Tina Smith (D-MN)
|-
|National Security and International Trade and Finance
|Bill Hagerty (R-TN)
|Andy Kim (D-NJ)
|-
|Securities, Insurance, and Investment
|Mike Rounds (R-SD)
|Mark Warner (D-VA)
|-
|Digital Assets
|Cynthia Lummis (R-WY)
|Ruben Gallego (D-AZ)
|}
Leadership
Committee on Banking and Currency, 1913–1970
<div style=display:inline-grid>
{|class="wikitable sortable"
|+ Chairs
!Name
!colspan=2 |Party
!State
!Start
!End
|-
|
|
|Democratic
|Oklahoma
|1913
|1919
|-
|
|
|Republican
|Connecticut
|1919
|1927
|-
|
|
|Republican
|South Dakota
|1927
|1933
|-
|
|
|Democratic
|Florida
|1933
|1936
|-
|
|
|Democratic
|New York
|1937
|1947
|-
|
|
|Republican
|New Hampshire
|1947
|1949
|-
|
|
|Democratic
|South Carolina
|1949
|1953
|-
|
|
|Republican
|Indiana
|1953
|1955
|-
|
|
|Democratic
|Arkansas
|1955
|1959
|-
|
|
|Democratic
|Virginia
|1959
|1966
|-
|
|
|Democratic
|Alabama
|1967
|1970
|}
</div>
<div style=display:inline-grid>
{|class="wikitable sortable"
|+ Ranking members
!Name
!colspan=2 |Party
!State
!Start
!End
|-
|
|
|Republican
|Delaware
|???
|1941
|-
|
|
|Republican
|New Hampshire
|1941
|1947
|-
|
|
|Republican
|Robert F. Wagner
|1947
|1949
|-
|
|
|Republican
|New Hampshire
|1949
|1951
|-
|
|
|Republican
|Indiana
|1951
|1953
|-
|
|
|Democratic
|South Carolina
|1953
|1954
|-
|
|
|Democratic
|Arkansas
|1954
|1955
|-
|
|
|Republican
|Indiana
|1955
|1963
|-
|
|
|Republican
|Utah
|1963
|1970
|}
</div>
Committee on Banking, Housing, and Urban Affairs, 1970–present
<div style=display:inline-grid>
{|class="wikitable sortable"
|+ Chairs
!Name
!colspan=2 |Party
!State
!Start
!End
|-
|
|
|Democratic
|Alabama
|1970
|1975
|-
|
|
|Democratic
|Wisconsin
|1975
|1981
|-
|
|
|Republican
|Utah
|1981
|1987
|-
|
|
|Democratic
|Wisconsin
|1987
|1989
|-
|
|
|Democratic
|Michigan
|1989
|1995
|-
|
|
|Republican
|New York
|1995
|1999
|-
|
|
|Republican
|Texas
|1999
|2001
|-
|
|
|Democratic
|Maryland
|colspan=2 align=center |2001
|-
|
|
|Republican
|Texas
|colspan=2 align=center |2001
|-
|
|
|Democratic
|Maryland
|2001
|2003
|-
|
|
|Republican
|Alabama
|2003
|2007
|-
|
|
|Democratic
|Connecticut
|2007
|2011
|-
|
|
|Democratic
|South Dakota
|2011
|2015
|-
|
|
|Republican
|Alabama
|2015
|2017
|-
|
|
|Republican
|Idaho
|2017
|2021
|-
|
|
|Democratic
|Ohio
|2021
|2025
|-
|
|
|Republican
|South Carolina
|2025
|present
|}
</div>
<div style=display:inline-grid>
{|class="wikitable sortable"
|+ Ranking members
!Name
!colspan=2 |Party
!State
!Start
!End
|-
|
|
|Republican
|Utah
|1970
|1971
|-
|
|
|Republican
|Texas
|1971
|1977
|-
|
|
|Republican
|Massachusetts
|1977
|1979
|-
|
|
|Republican
|Utah
|1979
|1981
|-
|
|
|Democratic
|New Jersey
|1981
|1982
|-
|
|
|Democratic
|Michigan
|1982
|1983
|-
|
|
|Democratic
|Wisconsin
|1983
|1987
|-
|
|
|Republican
|Utah
|1987
|1993
|-
|
|
|Republican
|New York
|1993
|1995
|-
|
|
|Democratic
|Maryland
|1995
|2001
|-
|
|
|Republican
|Texas
|2001
|2003
|-
|
|
|Democratic
|Maryland
|2003
|2007
|-
|
|
|Republican
|Alabama
|2007
|2013
|-
|
|
|Republican
|Idaho
|2013
|2015
|-
|
|
|Democratic
|Ohio
|2015
|2021
|-
|
|
|Republican
|Pennsylvania
|2021
|2023
|-
|
|
|Republican
|South Carolina
|2023
|2025
|-
|
|
|Democratic
|Massachusetts
|2025
|present
|}
</div>
Historical membership rosters
{|class=wikitable
!Majority
!Minority
|-
| valign=top |
- Sherrod Brown, Ohio, Chair
- Jack Reed, Rhode Island
- Bob Menendez, New Jersey (until August 20, 2024)
- Jon Tester, Montana
- Mark Warner, Virginia
- Elizabeth Warren, Massachusetts
- Chris Van Hollen, Maryland
- Catherine Cortez Masto, Nevada
- Tina Smith, Minnesota
- <span >Kyrsten Sinema, Arizona (until October 17, 2023)</span>
- Raphael Warnock, Georgia
- John Fetterman, Pennsylvania
- Laphonza Butler, California (October 17, 2023–December 8, 2024)
- George Helmy, New Jersey (September 11, 2024–December 8, 2024)
- Adam Schiff, California (from December 10, 2024)
- Andy Kim, New Jersey (from December 10, 2024)
114th Congress
{|class="wikitable"
!Majority
!Minority
|-
| valign="top" |
- Richard Shelby, Alabama, Chair
- Mike Crapo, Idaho
- Bob Corker, Tennessee
- David Vitter, Louisiana
- Pat Toomey, Pennsylvania
- Mark Kirk, Illinois
- Dean Heller, Nevada
- Tim Scott, South Carolina
- Ben Sasse, Nebraska
- Tom Cotton, Arkansas
- Mike Rounds, South Dakota
- Jerry Moran, Kansas
| valign="top" |
- Sherrod Brown, Ohio, Ranking Member
- Jack Reed, Rhode Island
- Chuck Schumer, New York
- Bob Menendez, New Jersey
- Jon Tester, Montana
- Mark Warner, Virginia
- Jeff Merkley, Oregon
- Elizabeth Warren, Massachusetts
- Heidi Heitkamp, North Dakota
- Joe Donnelly, Indiana
|}
Subcommittees
{|class="wikitable"
!Subcommittee
!Chair
!Ranking Member
|-
|Economic Policy
|Dean Heller (R-NV)
|Elizabeth Warren (D-MA)
|-
|Financial Institutions and Consumer Protection
|Pat Toomey (R-PA)
|Jeff Merkley (D-OR)
|-
|Housing, Transportation, and Community Development
|Tim Scott (R-SC)
|Bob Menendez (D-NJ)
|-
|National Security and International Trade and Finance
|Mark Kirk (R-IL)
|Heidi Heitkamp (D-ND)
|-
|Securities, Insurance, and Investment
|Mike Crapo (R-ID)
|Mark Warner (D-VA)
|}
113th Congress
{|class="wikitable"
!Majority
!Minority
|-
| valign="top" |
- Tim Johnson, South Dakota, Chair
- Jack Reed, Rhode Island
- Chuck Schumer, New York
- Bob Menendez, New Jersey
- Sherrod Brown, Ohio
- Jon Tester, Montana
- Mark Warner, Virginia
- Jeff Merkley, Oregon
- Kay Hagan, North Carolina
- Joe Manchin, West Virginia
- Elizabeth Warren, Massachusetts
- Heidi Heitkamp, North Dakota
| valign="top" |
- Mike Crapo, Idaho, Ranking Member
- Richard Shelby, Alabama
- Bob Corker, Tennessee
- David Vitter, Louisiana
- Mike Johanns, Nebraska
- Pat Toomey, Pennsylvania
- Mark Kirk, Illinois
- Jerry Moran, Kansas
- Tom Coburn, Oklahoma
- Dean Heller, Nevada
|}
{|class="wikitable"
!Subcommittee
!Chair
!Ranking Member
|-
|Economic Policy
|Jeff Merkley (D-OR)
|Dean Heller (R-NV)
|-
|Financial Institutions and Consumer Protection
|Sherrod Brown (D-OH)
|Pat Toomey (R-PA)
|-
|Housing, Transportation, and Community Development
|Bob Menendez (D-NJ)
|Jerry Moran (R-KS)
|-
|National Security and International Trade and Finance
|Mark Warner (D-VA)
|Mark Kirk (R-IL)
|-
|Securities, Insurance, and Investment
|Jon Tester (D-MT)
|Mike Johanns (R-NE)
|}
See also
- List of United States Senate committees
- United States House Committee on Financial Services, the congressional counterpart of this committee
- Pecora Commission, 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 Affairs (Archive)
- Senate Banking, Housing, and Urban Affairs Committee. Legislation activity and reports, Congress.gov.