Congresswoman Shelley Moore Capito, R.W.Va., will again serve as Chairman of the Subcommittee on Financial Institutions and Consumer Credit, which has jurisdiction over federal financial regulatory agencies such as the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau. The subcommittee oversees, nation's depository institutions, federal deposit insurance, matters pertaining to consumer credit and the safety and soundness of the nation's financial system.
Capito will also serve on the Insurance and Housing Subcommittee, which has jurisdiction over insurance generally, including private mortgage insurance and government sponsored insurance programs, such as the National Flood Insurance Program. It also oversees the Department of Housing and Urban Development, the Federal Housing Administration, along with all activities of the Government National Mortgage Association and issues concerning rural housing and community development.
"Over the last two years we have learned a lot about the challenges facing community banks and credit unions which play a critical role in deploying capital to small businesses across the nation. If we are going to get our economy back on track we need to promote a regulatory environment that recognizes the importance of preserving the ability of small financial institutions to drive economic growth in their communities. I will continue to make this a priority in the 113th Congress," stated Chairman Capito. "Lastly, I look forward to working with Ranking Member Meeks, D-NY, and the other Members on my subcommittee."
The Financial Services Full-Committee will be chaired by Congressman Jeb Hensarling, R-TX.