Subcommittee on Financial Institutions and Consumer Credit

About the Subcommittee

The Subcommittee on Financial Institutions and Consumer Credit has jurisdiction over the body of federal law governing depository financial institutions and the provision of consumer credit. The subcommittee oversees all of the prudential banking regulators, such as the Federal Deposit Insurance Corporation and the Federal Reserve, nonbank financial services providers such as consumer reporting agencies, as well as all matters pertaining to consumer credit. The subcommittee conducts hearings and considers legislative proposals on a broad range of issues implicating American consumers and financial institutions, ranging from securing fair access to consumer credit and protecting consumer financial data to ensuring the safety and soundness of the U.S. banking industry.


Congressman Wm. Lacy Clay (MO) serves as ranking member of the subcommittee.

 Rep. Carolyn Maloney (NY)
 Rep. Gregory Meeks (NY)
 Rep. David Scott (GA)
 Rep. Nydia M. Velázquez (NY)
 Rep. Al Green (TX)
 Rep. Keith Ellison (MN)
 Rep. Michael E. Capuano (MA)
 Rep. Denny Heck (WA)
 Rep. Gwen Moore (WI)
 Rep. Charlie Christ (FL)


The complete jurisdiction of the subcommittee includes:

all agencies, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Federal Reserve System, the Office of Thrift Supervision, and the National Credit Union Administration, which directly or indirectly exercise supervisory or regulatory authority in connection with, or provide deposit insurance for, financial institutions, and the establishment of interest rate ceilings on deposits;

all matters related to the Bureau of Consumer Financial Protection;

the chartering, branching, merger, acquisition, consolidation, or conversion of financial institutions;

consumer credit, including the provision of consumer credit by insurance companies, and further including those matters in the Consumer Credit Protection Act dealing with truth in lending, extortionate credit transactions, restrictions on garnishments, fair credit reporting and the use of credit information by credit bureaus and credit providers, equal credit opportunity, debt collection practices, and electronic funds transfers; 

creditor remedies and debtor defenses, Federal aspects of the Uniform Consumer Credit Code, credit and debit cards, and the preemption of State usury laws; 

consumer access to financial services, including the Home Mortgage Disclosure Act and the Community Reinvestment Act;

the terms and rules of disclosure of financial services, including the advertisement, promotion and pricing of financial services, and availability of government check cashing services;

deposit insurance; and 

consumer access to savings accounts and checking accounts in financial institutions, including lifeline banking and other consumer accounts.out the Subcommittee

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