The Financial Services Committee has jurisdiction over all issues that affect the banking system, housing, insurance, and securities and exchanges. My responsibility on this Committee is to improve and strengthen regulatory processes, ensure we implement strong consumer protection standards, and monitor financial reporting tools that safeguard our national security. The Financial Services Committee is responsible for some of the most critical financial legislation over the last 20 years, including the Dodd-Frank Act, which was enacted after the 2008 Financial Crisis.
In the 117th Congress, I was appointed Chairman of the Subcommittee on National Security, International Development, and Monetary Policy, which oversees anti-money laundering standards, sanctions authorities, the combating of terrorism finance, and issues regarding the International Monetary Fund. I was also appointed to serve on the Subcommittee for Investor Protection, Entrepreneurship, and Capital Markets, where I oversee issues regarding investor confidence, capital formation, investment companies, and accounting and auditing processes.
The Financial Services Committee is working hard to implement strong, practical solutions that keep families and households safe from financial schemes, maintain market integrity, and preserve financial technology businesses' potential to innovate responsibly.
In June 2022, I released a white paper discussing the need for a Centrally Backed Digital Currency. Along with many other benefits, the implementation of digital currency by the U.S. government could play a critical role in preserving the dollar’s role as the global reserve currency of choice. Read my proposal here.
Learn more about the work of the Financial Services Committee here.
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