U.S. House Financial Services Committee


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.

BREAKING DOWN '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.

  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. Fannie Mae - Federal National Mortgage ...

    A government-sponsored enterprise (GSE) that was created in 1938 ...
  4. The World Bank

    An international organization dedicated to providing financing, ...
  5. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
  6. Federal Deposit Insurance Corporation ...

    The U.S. corporation insuring deposits in the U.S. against bank ...
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  1. Do FHA loans have prepayment penalties?

    Unlike subprime mortgages issued by some conventional commercial lenders, Federal Housing Administration (FHA) loans do not ... Read Full Answer >>
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    Federal Housing Administration (FHA) loans can be refinanced in several ways. According to the U.S. Department of Housing ... Read Full Answer >>
  3. Can FHA loans be used for investment property?

    Federal Housing Administration (FHA) loans were created to promote homeownership. These loans have lower down payment requirements ... Read Full Answer >>
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    he When you make a down payment from 3 to 20% of the value of your home and take out a Federal Housing Administration (FHA) ... Read Full Answer >>
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