United States Senate Committee on Banking, Housing, and Urban Affairs
Standing committee of the United States Senate
From Wikipedia, the free encyclopedia
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.[1][2][3]
Formed1913
Formerly known asCommittee on Banking and Currency
Ranking MemberElizabeth Warren (D)
Since January 3, 2025
Since January 3, 2025
| Standing committee | |
|---|---|
| Active United States Senate 119th Congress | |
| History | |
| Formed | 1913 |
| Formerly known as | Committee on Banking and Currency |
| Leadership | |
| Chair | Tim Scott (R) Since January 3, 2025 |
| Ranking Member | Elizabeth Warren (D) Since January 3, 2025 |
| Structure | |
| Seats | 24 members |
| Political parties | Majority (13)
|
| Jurisdiction | |
| Policy areas | Banking, insurance price controls, deposit insurance, monetary policy, financial assistance, currency, coinage, housing, urban development, mass transit |
| Subcommittees | |
| Meeting place | |
| 534 Dirksen Senate Office Building Washington, D.C. | |
| Website | |
| www | |
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.[4]
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."[4]
Members, 119th Congress
| Majority[5] | Minority[6] |
|---|---|
|
|
Subcommittees
| Subcommittee[7] | 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
| Name | Party | State | Start | End | |
|---|---|---|---|---|---|
| Robert Owen | Democratic | Oklahoma | 1913 | 1919 | |
| George McLean | Republican | Connecticut | 1919 | 1927 | |
| Peter Norbeck | Republican | South Dakota | 1927 | 1933 | |
| Duncan Fletcher | Democratic | Florida | 1933 | 1936 | |
| Robert Wagner | Democratic | New York | 1937 | 1947 | |
| Charles Tobey | Republican | New Hampshire | 1947 | 1949 | |
| Burnet Maybank | Democratic | South Carolina | 1949 | 1953 | |
| Homer Capehart | Republican | Indiana | 1953 | 1955 | |
| William Fulbright | Democratic | Arkansas | 1955 | 1959 | |
| Willis Robertson | Democratic | Virginia | 1959 | 1966 | |
| John Sparkman | Democratic | Alabama | 1967 | 1970 | |
| Name | Party | State | Start | End | |
|---|---|---|---|---|---|
| John Townsend | Republican | Delaware | ??? | 1941 | |
| Charles Tobey | Republican | New Hampshire | 1941 | 1947 | |
| Robert Wagner | Republican | Robert F. Wagner | 1947 | 1949 | |
| Charles Tobey | Republican | New Hampshire | 1949 | 1951 | |
| Homer Capehart | Republican | Indiana | 1951 | 1953 | |
| Burnet Maybank | Democratic | South Carolina | 1953 | 1954 | |
| Bill Fulbright | Democratic | Arkansas | 1954 | 1955 | |
| Homer Capehart | Republican | Indiana | 1955 | 1963 | |
| Wallace Bennett | Republican | Utah | 1963 | 1970 | |
Committee on Banking, Housing, and Urban Affairs, 1970–present
| Name | Party | State | Start | End | |
|---|---|---|---|---|---|
| John Sparkman | Democratic | Alabama | 1970 | 1975 | |
| William Proxmire | Democratic | Wisconsin | 1975 | 1981 | |
| Jake Garn | Republican | Utah | 1981 | 1987 | |
| William Proxmire | Democratic | Wisconsin | 1987 | 1989 | |
| Donald Riegle | Democratic | Michigan | 1989 | 1995 | |
| Al D'Amato | Republican | New York | 1995 | 1999 | |
| Phil Gramm | Republican | Texas | 1999 | 2001 | |
| Paul Sarbanes | Democratic | Maryland | 2001[8] | ||
| Phil Gramm | Republican | Texas | 2001 | ||
| Paul Sarbanes | Democratic | Maryland | 2001 | 2003[9] | |
| Richard Shelby | Republican | Alabama | 2003 | 2007 | |
| Chris Dodd | Democratic | Connecticut | 2007 | 2011 | |
| Tim Johnson | Democratic | South Dakota | 2011 | 2015 | |
| Richard Shelby | Republican | Alabama | 2015 | 2017 | |
| Mike Crapo | Republican | Idaho | 2017 | 2021 | |
| Sherrod Brown | Democratic | Ohio | 2021 | 2025 | |
| Tim Scott | Republican | South Carolina | 2025 | present | |
| Name | Party | State | Start | End | |
|---|---|---|---|---|---|
| Wallace Bennett | Republican | Utah | 1970 | 1971 | |
| John Tower | Republican | Texas | 1971 | 1977 | |
| Edward Brooke | Republican | Massachusetts | 1977 | 1979 | |
| Jake Garn | Republican | Utah | 1979 | 1981 | |
| Pete Williams | Democratic | New Jersey | 1981 | 1982 | |
| Donald Riegle | Democratic | Michigan | 1982 | 1983 | |
| William Proxmire | Democratic | Wisconsin | 1983 | 1987 | |
| Jake Garn | Republican | Utah | 1987 | 1993 | |
| Al D'Amato | Republican | New York | 1993 | 1995 | |
| Paul Sarbanes | Democratic | Maryland | 1995 | 2001 | |
| Phil Gramm | Republican | Texas | 2001 | 2003 | |
| Paul Sarbanes | Democratic | Maryland | 2003 | 2007 | |
| Richard Shelby | Republican | Alabama | 2007 | 2013 | |
| Mike Crapo | Republican | Idaho | 2013 | 2015 | |
| Sherrod Brown | Democratic | Ohio | 2015 | 2021 | |
| Pat Toomey | Republican | Pennsylvania | 2021 | 2023 | |
| Tim Scott | Republican | South Carolina | 2023 | 2025 | |
| Elizabeth Warren | Democratic | Massachusetts | 2025 | present | |
Historical membership rosters
| Majority[10] | Minority[11] |
|---|---|
|
|
- Subcommittees
| Subcommittee | Chair | Ranking Member |
|---|---|---|
| Economic Policy | Elizabeth Warren (D-MA) | John Kennedy (R-LA) |
| Financial Institutions and Consumer Protection | Raphael Warnock (D-GA) | Thom Tillis (R-NC) |
| Housing, Transportation, and Community Development | Tina Smith (D-MN) | Cynthia Lummis (R-WY) |
| National Security and International Trade and Finance | Mark Warner (D-VA) | Bill Hagerty (R-TN) |
| Securities, Insurance, and Investment | George Helmy (D-NJ) | Mike Rounds (R-SD) |
117th Congress
| Majority | Minority |
|---|---|
|
|
- Subcommittees
| Subcommittee | Chair | Ranking Member |
|---|---|---|
| Economic Policy | Elizabeth Warren (D-MA) | John Kennedy (R-LA) |
| Financial Institutions and Consumer Protection | Raphael Warnock (D-GA) | Thom Tillis (R-NC) |
| Housing, Transportation, and Community Development | Tina Smith (D-MN) | Mike Rounds (R-SD) |
| National Security and International Trade and Finance | Mark Warner (D-VA) | Bill Hagerty (R-TN) |
| Securities, Insurance, and Investment | Bob Menendez (D-NJ) | Tim Scott (R-SC) |
116th Congress
| Majority | Minority |
|---|---|
|
|
- Subcommittees
| Subcommittee | Chair | Ranking Member |
|---|---|---|
| Economic Policy | Tom Cotton (R-AR) | Catherine Cortez Masto (D-NV) |
| Financial Institutions and Consumer Protection | Tim Scott (R-SC) | Elizabeth Warren (D-MA) |
| Housing, Transportation, and Community Development | David Perdue (R-GA) | Bob Menendez (D-NJ) |
| National Security and International Trade and Finance | Ben Sasse (R-NE) | Mark Warner (D-VA) |
| Securities, Insurance, and Investment | Pat Toomey (R-PA) | Chris Van Hollen (D-MD) |
115th Congress
| Majority | Minority |
|---|---|
|
|
Subcommittees
| Subcommittee | Chair | Ranking Member |
|---|---|---|
| Economic Policy | Tom Cotton (R-AR) | Heidi Heitkamp (D-ND) |
| Financial Institutions and Consumer Protection | Pat Toomey (R-PA) | Elizabeth Warren (D-MA) |
| Housing, Transportation, and Community Development | Tim Scott (R-SC) | Bob Menendez (D-NJ) |
| National Security and International Trade and Finance | Ben Sasse (R-NE) | Joe Donnelly (D-IN) |
| Securities, Insurance, and Investment | Dean Heller (D-NV) | Mark Warner (D-VA) |
Source[15]
114th Congress
| Majority | Minority |
|---|---|
|
|
Subcommittees
| 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
| Majority | Minority |
|---|---|
|
|
| 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
