U.S. House Financial Services Committee

AAA

DEFINITION of 'U.S. House Financial Services Committee'

The congressional committee responsible for monitoring, writing legislation and enforcing existing laws that affect the financial services and housing-related industries in the U.S. Committee members - who are elected members of the U.S. House of Representatives - oversee all businesses and organizations involved in securities, insurance, banking, housing and real estate.


It also has oversight for several federal departments, agencies, government-sponsored enterprises (GSEs) and internationally-affiliated organizations including: Fannie Mae (Federal National Mortgage Association), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Bank, Freddie Mac (Federal Home Loan Mortgage Corporation), International Monetary Fund and the U.S. Department of Housing and Urban Development.

INVESTOPEDIA EXPLAINS 'U.S. House Financial Services Committee'

The U.S. House Financial Services Committee was formed in 1865 and was originally known as the Committee on Banking and Currency. Its Senate counterpart is the U.S. Senate Committee on Banking, Housing & Urban Affairs. There are 70 congressional members on the House Committee - the majority of members are from the current party holding the majority in the U.S. House of Representatives.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. U.S. Department of Housing and ...

    A U.S. government agency created in 1965 to support community ...
  3. The World Bank

    An international organization dedicated to providing financing, ...
  4. Fannie Mae - Federal National Mortgage ...

    A government-sponsored enterprise (GSE) that was created in 1938 ...
  5. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
  6. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
RELATED FAQS
  1. What do mortgage lenders use the securitization food chain?

    The phrase "securitization food chain" was made popular by director Chris Ferguson in "Inside Job," a film about the 2007-2 ... Read Full Answer >>
  2. What is the purpose of the International Monetary Fund?

    The stated goals of the International Monetary Fund include offering policy advice to member governments and central banks; ... Read Full Answer >>
  3. Do mortgage escrow accounts earn interest?

    A bank is not required to pay interest on any escrow accounts (also mortgage impound accounts) it holds for its customers. ... Read Full Answer >>
  4. What types of assets and payments are recorded in the capital account?

    In terms of international trade and the balance of payments, the term "capital account" means different things in different ... Read Full Answer >>
  5. What role did securitization play in the U.S. subprime mortgage crisis?

    The securitization of subprime mortgages into mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) ... Read Full Answer >>
  6. How often is interest compounded?

    Interest can be compounded on any given frequency schedule. Common interest compounding time frames are daily, monthly, semi-annually ... Read Full Answer >>
Related Articles
  1. Fundamental Analysis

    How The Sarbanes-Oxley Era Affected IPOs

    After the infamous collapse of companies like Tyco, Enron and WorldCom, the government responded to try and prevent it from happening again.
  2. Investing Basics

    Subprime Lending: Helping Hand Or Underhanded?

    These loans can spell disaster for borrowers, but that doesn't mean they should be condemned.
  3. Fundamental Analysis

    Lobbying: K Street's Influence On Wall Street

    Corporate lobbyists have the power, influence and political backing to affect your portfolio. Find out how.
  4. Credit & Loans

    The History Of Consumer Credit Rights

    The Fair Credit Billing Act of 1974 gave consumers the power to dispute credit card charges.
  5. Insurance

    Fannie Mae, Freddie Mac And The Credit Crisis Of 2008

    Is the U.S. Congress' failure to rein in these mortgage giants to blame for the financial fallout?
  6. Credit & Loans

    Is it Worth Saving Up for a Bigger Down Payment?

    There are numerous low-down-payment mortgage options out there, but sometimes it makes sense to build up your savings so you can borrow less.
  7. Credit & Loans

    Is A 30-Year Mortgage Really Best?

    It's the most popular choice, but home buyers with 30-year mortgages may be paying more to finance their home than they need to.
  8. Credit & Loans

    What Are The Pros and Cons Of A 15-Year Mortgage?

    The shorter term, and higher monthly payment, are only part of the picture.
  9. Credit & Loans

    Which Is Better: A 30-Year Or 15-Year Mortgage?

    The difference in monthly payments is what homebuyers think of first when they compare the two. But have you considered these other points?
  10. Credit & Loans

    Is It Worth Buying A Second Home To Rent?

    Mortgage interest rates are low, but consider these dos and don'ts before making the leap into rental property ownership.

You May Also Like

Hot Definitions
  1. Fiduciary

    1. A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets ...
  2. Expected Return

    The amount one would anticipate receiving on an investment that has various known or expected rates of return. For example, ...
  3. Carrying Value

    An accounting measure of value, where the value of an asset or a company is based on the figures in the company's balance ...
  4. Capital Account

    A national account that shows the net change in asset ownership for a nation. The capital account is the net result of public ...
  5. Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. ...
Trading Center