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.

RELATED TERMS
  1. Office of Federal Housing Enterprise ...

    A federal regulatory body that formerly oversaw the government-sponsored ...
  2. Bank Insurance

    A guarantee by the Federal Deposit Insurance Corporation (FDIC) ...
  3. Agency Security

    Low-risk debt obligations that are issued by U.S. government-sponsored ...
  4. Conforming Loan Limit

    The limit on the size of a mortgage which Fannie Mae and Freddie ...
  5. Energy And Commerce Committee

    A established by in 1975 by the United States House of Representatives ...
  6. Agency MBS Purchase

    The purchase of mortgage-backed securities issued by government-sponsored ...
Related Articles
  1. Small Business

    Remodeling The Housing Finance Industry

    The meltdown in mortgage-backed securities is bringing about reform in home financing.
  2. Insights

    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?
  3. Investing

    Fannie Mae and Freddie Mac, Boon Or Boom?

    These two companies are crucial to the mortgage market, but are they ticking timebombs?
  4. Personal Finance

    Why Fannie Mae And Freddie Mac Might Be In Trouble

    Fannie Mae and Freddie Mac are under increased scrutiny as debates continue about conservatorship, share price, and profit allocations.
  5. Managing Wealth

    4 Reasons Why the Housing Recovery Will Be Short-lived (LOW, HD)

    Evidence would suggest that the same culprits from 2008 and some new ones are re-inflating a housing bubble.
  6. Financial Advisor

    Investment Committees: Duties and Responsibilities

    An investment committee can help plan sponsors avoid fiduciary liabilities. Included is information regarding the duties and responsibilities of investment committee members.
  7. Personal Finance

    The History Of The FDIC

    Find out why this corporation was developed and how it protects depositors from bank failure.
  8. Trading

    Financial Regulators: Who They Are And What They Do

    Find out how these government agencies govern the financial markets.
  9. Insurance

    Federal Deposit Insurance Corporation (FDIC)

    The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and thrift institutions.
  10. Investing

    The Top 5 Fannie Mae Shareholders (FNMA)

    Find about the individuals, funds and companies that are top shareholders of Fannie Mae stock. Learn about their profiles and their relationships with Fannie Mae.
RELATED FAQS
  1. How does a decline in housing prices affect the banking sector?

    Learn about the affects on banks when housing prices go down, including loan delinquency rates, mortgage foreclosures, and ... Read Answer >>
  2. Who regulates mortgage lenders?

    The Federal Truth in Lending Act and the Real Estate Settlement Procedures Act (RESPA) dictate most of the regulations mortgage ... Read Answer >>
  3. What are some of the major regulatory agencies responsible for overseeing financial ...

    Discover the specific responsibilities of some of the major regulatory agencies that oversee financial institutions in the ... Read Answer >>
  4. How do you use the FNMA selling guide?

    Learn about Fannie Mae Selling Guide and find out details about how its parts provide support to the business relationship ... Read Answer >>
  5. What are the Federal Reserve's guidelines on demand deposit accounts?

    Read about some of the Federal Reserve's requirements and guidelines regarding the treatment, safeguarding and processing ... Read Answer >>
  6. What were the objectives of the Glass-Steagall Act?

    Learn about the original objectives of the1933 legislation known as the Glass-Steagall Act and how it affected the banking ... Read Answer >>
Trading Center