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. Federal Housing Finance Agency ...

    A U.S. government agency created by the Housing and Economic ...
  2. Office of Federal Housing Enterprise ...

    A federal regulatory body that formerly oversaw the government-sponsored ...
  3. Conforming Loan Limit

    The limit on the size of a mortgage which Fannie Mae and Freddie ...
  4. Agency MBS Purchase

    The purchase of mortgage-backed securities issued by government-sponsored ...
  5. Maximum Loan Amount

    Describes the maximum amount that a borrower can borrow. The ...
  6. Audit Committee

    An operating committee of a company's board of directors that ...
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. Investing

    Should You Invest In Fannie Mae Stock?

    If you're risk-adverse, you might want to avoid investing in Fannie Mae. But if you're up for it, high risk could translate to high reward.
  5. Investing

    Buy Your Next Home From Uncle Sam

    As a result of rising foreclosures, some Americans will buy their next home from the U.S. government.
  6. Insights

    Top 6 U.S. Government Financial Bailouts

    U.S. bailouts date all the way back to 1792. Learn how the biggest ones affected the economy.
  7. 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.
  8. 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.
  9. Personal Finance

    The History Of The FDIC

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

    Federal Deposit Insurance Corporation (FDIC)

    The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and thrift institutions.
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. 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 >>
  3. 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 >>
  4. What is the 1003 mortgage application form?

    Learn about the 1003 mortgage application form, what information it requires and why this form is the industry standard for ... Read Answer >>
  5. What does FNMA stand for?

    Learn what FNMA is, how it helps low-, moderate- and middle-income families afford a place to live using mortgage liquidity, ... Read Answer >>
Trading Center