U.S. House Financial Services Committee

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Definition of 'U.S. House Financial Services Committee'

The U.S. House Financial Services Committee is a standing committee of the United States House of Representatives. It is responsible for overseeing the financial services industry, including banks, securities, insurance, and housing. The committee also has jurisdiction over the regulation of financial institutions, consumer protection, and financial markets.

The committee is chaired by Representative Maxine Waters (D-CA). The ranking member is Representative Patrick McHenry (R-NC).

The committee was created in 1975 as the Committee on Banking, Finance, and Urban Affairs. In 2007, the committee was renamed the Committee on Financial Services.

The committee has a staff of over 100 employees. The staff is responsible for providing research, analysis, and support to the committee's members.

The committee holds hearings on a variety of financial issues. The committee also reviews and approves legislation related to the financial services industry.

The committee plays an important role in shaping the regulation of the financial services industry. The committee's work has a significant impact on the financial markets and the economy.

The committee is one of the most powerful committees in the House of Representatives. The committee's jurisdiction covers a wide range of issues that are important to the American economy. The committee's work has a significant impact on the lives of all Americans.

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