Senate Banking Committee
The senate banking committee has jurisdiction over matters related to banks, price controls, deposit and loan regulations, mortgage policy, and federal monetary policy. It also handles legislation affecting housing, urban development and mass transit.
The committee held 28 policy and oversight hearings in the 116th Congress, which was less than the 39 in the previous Congress under Republican leadership. Public testimony is accepted telephonically or via the web portal.
The Senate Banking Committee has been assigned jurisdiction over a wide range of issues including banking and currency, federal monetary policy, price controls, deposit insurance, nursing home construction, urban development, and mass transit. It also has oversight responsibility for the Public Employees’ Retirement Association, Department of Revenue, and State Treasury.
The committee has held a large number of hearings, ranging from 113 in the 112th Congress (2011-12) under Chairman Tim Johnson to 50 in the 114th Congress (2015- 16) under Chair Richard Shelby. During the most recent Congress (2019-20), the committee held just 55 hearings.
The committee has also made extensive use of investigative subcommittees. For example, during the 80th Congress, the committee formed special subcommittees to investigate temporary regulation and control of consumer credit and the Reconstruction Finance Corporation; export controls; a coffee price increase; Illinois banking problems; and other matters. The records include committee papers relating to these investigations. These include correspondence, subject files, questionnaires, legislative and staff memoranda, reports of studies, and testimony.
Committees are an essential part of the legislative process, and they perform a wide range of functions. They monitor on-going governmental operations, identify issues suitable for legislative review, and gather and evaluate information.
A committee’s responsibilities may also include oversight of the executive branch– specifically, the review, monitoring, and supervision of the implementation of legislation. One way a committee engages in …Senate Banking Committee Continue Reading >>>