United States Senate Committee on Banking, Housing, and Urban Affairs

Senate Banking, Housing and Urban Affairs Committee

Standing committee
Active United States Senate 119th Congress
History
Formed	1913
Formerly known as	Committee on Banking and Currency
Leadership
Chair	Tim Scott (R) Since January 3, 2025
Ranking member	Elizabeth Warren (D) Since January 3, 2025
Structure
Seats	24 members
Political parties	Majority (13)   Republican (13) Minority (11)   Democratic (11)
Jurisdiction
Policy areas	Banking, insurance price controls, deposit insurance, monetary policy, financial assistance, currency, coinage, housing, urban development, mass transit
Subcommittees
Economic Policy Financial Institutions and Consumer Protection Housing, Transportation, and Community Development National Security and International Trade and Finance Securities, Insurance, and Investment Digital Assets
Meeting place
534 Dirksen Senate Office Building Washington, D.C.
Website
www.banking.senate.gov

The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency), also known as the Senate Banking Committee, has jurisdiction over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit, and government contracts. ^{[1] [2] [3]}

The current chair of the committee is Republican Tim Scott of South Carolina, and the Ranking Member is Democrat Elizabeth Warren of Massachusetts.

History

The committee is one of twenty standing committees in the United States Senate. The committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator Robert L. Owen of Oklahoma sponsored the Federal Reserve Act. Senator Owen served as the committee's inaugural chair.

Jurisdiction

In accordance with Rule XXV of the United States Senate, all proposed legislation, messages, petitions, memorials, and other matters relating to the following subjects are referred to the Senate Banking Committee:

1. Banks, banking, and financial institutions;
2. Control of the prices of commodities, rents, and services;
3. Deposit insurance;
4. Economic stabilization and defense production;
5. Export and foreign trade promotion;
6. Export controls;
7. Federal monetary policy, including the Federal Reserve System;
8. Financial aid to commerce and industry;
9. Issuance and redemption of notes;
10. Money and credit, including currency and coinage;
11. Nursing home construction;
12. Public and private housing (including veterans' housing);
13. Renegotiation of Government contracts; and,
14. Urban development and urban mass transit. ^[4]

The Senate Banking Committee is also charged to "study and review, on a comprehensive basis, matters relating to international economic policy as it affects United States monetary affairs, credit, and financial institutions; economic growth, urban affairs, and credit, and report thereon from time to time." ^[4]

Members, 119th Congress

Main article: 119th United States Congress

Majority [5]	Minority [6]
Tim Scott, South Carolina, Chair Mike Crapo, Idaho Mike Rounds, South Dakota Thom Tillis, North Carolina John Kennedy, Louisiana Bill Hagerty, Tennessee Cynthia Lummis, Wyoming Katie Britt, Alabama Pete Ricketts, Nebraska Jim Banks, Indiana Kevin Cramer, North Dakota Bernie Moreno, Ohio Dave McCormick, Pennsylvania	Elizabeth Warren, Massachusetts, Ranking Member Jack Reed, Rhode Island Mark Warner, Virginia Chris Van Hollen, Maryland Catherine Cortez Masto, Nevada Tina Smith, Minnesota Raphael Warnock, Georgia Andy Kim, New Jersey Ruben Gallego, Arizona Lisa Blunt Rochester, Delaware Angela Alsobrooks, Maryland

Subcommittees

Subcommittee [7]	Chair	Ranking Member
Economic Policy	John Kennedy (R-LA)	Raphael Warnock (D-GA)
Financial Institutions and Consumer Protection	Thom Tillis (R-NC)	Catherine Cortez Masto (D-NV)
Housing, Transportation, and Community Development	Katie Britt (R-AL)	Tina Smith (D-MN)
National Security and International Trade and Finance	Bill Hagerty (R-TN)	Andy Kim (D-NJ)
Securities, Insurance, and Investment	Mike Rounds (R-SD)	Mark Warner (D-VA)
Digital Assets	Cynthia Lummis (R-WY)	Ruben Gallego (D-AZ)

Chairs

Committee on Banking and Currency, 1913–1970

Name	Party		State	Start	End
Robert Owen		Democratic	Oklahoma	1913	1919
George McLean		Republican	Connecticut	1919	1927
Peter Norbeck		Republican	South Dakota	1927	1933
Duncan Fletcher		Democratic	Florida	1933	1936
Robert Wagner		Democratic	New York	1937	1947
Charles Tobey		Republican	New Hampshire	1947	1949
Burnet Maybank		Democratic	South Carolina	1949	1953
Homer Capehart		Republican	Indiana	1953	1955
William Fulbright		Democratic	Arkansas	1955	1959
Willis Robertson		Democratic	Virginia	1959	1966
John Sparkman		Democratic	Alabama	1967	1970

Committee on Banking, Housing, and Urban Affairs, 1970–present

Name	Party		State	Start	End
John Sparkman		Democratic	Alabama	1970	1975
William Proxmire		Democratic	Wisconsin	1975	1981
Jake Garn		Republican	Utah	1981	1987
William Proxmire		Democratic	Wisconsin	1987	1989
Donald Riegle		Democratic	Michigan	1989	1995
Al D'Amato		Republican	New York	1995	1999
Phil Gramm		Republican	Texas	1999	2001
Paul Sarbanes		Democratic	Maryland	2001 [8]
Phil Gramm		Republican	Texas	2001
Paul Sarbanes		Democratic	Maryland	2001	2003 [9]
Richard Shelby		Republican	Alabama	2003	2007
Chris Dodd		Democratic	Connecticut	2007	2011
Tim Johnson		Democratic	South Dakota	2011	2015
Richard Shelby		Republican	Alabama	2015	2017
Mike Crapo		Republican	Idaho	2017	2021
Sherrod Brown		Democratic	Ohio	2021	2025
Tim Scott		Republican	South Carolina	2025	present

Ranking Members

Name	Party		State	Start	End
John Townsend		Republican	Delaware	???	1941
Charles Tobey		Republican	New Hampshire	1941	1947
Robert Wagner		Republican	Robert F. Wagner	1947	1949
Charles Tobey		Republican	New Hampshire	1949	1951
Homer Capehart		Republican	Indiana	1951	1953
Burnet Maybank		Democratic	South Carolina	1953	1954
Bill Fulbright		Democratic	Arkansas	1954	1955
Homer Capehart		Republican	Indiana	1955	1963
Wallace Bennett		Republican	Utah	1963	1971
John Tower		Republican	Texas	1971	1977
Edward Brooke		Republican	Massachusetts	1977	1979
Jake Garn		Republican	Utah	1979	1981
Pete Williams		Democratic	New Jersey	1981	1982
Donald Riegle		Democratic	Michigan	1982	1983
William Proxmire		Democratic	Wisconsin	1983	1987
Jake Garn		Republican	Utah	1987	1993
Al D'Amato		Republican	New York	1993	1995
Paul Sarbanes		Democratic	Maryland	1995	2001
Phil Gramm		Republican	Texas	2001	2003
Paul Sarbanes		Democratic	Maryland	2003	2007
Richard Shelby		Republican	Alabama	2007	2013
Mike Crapo		Republican	Idaho	2013	2015
Sherrod Brown		Democratic	Ohio	2015	2021
Pat Toomey		Republican	Pennsylvania	2021	2023
Tim Scott		Republican	South Carolina	2023	2025
Elizabeth Warren		Democratic	Massachusetts	2025	present

Historical membership rosters

Main article: 118th United States Congress

Majority [10]

Minority [11]

Sherrod Brown, Ohio, Chair Jack Reed, Rhode Island Bob Menendez, New Jersey (until August 20, 2024) Jon Tester, Montana Mark Warner, Virginia Elizabeth Warren, Massachusetts Chris Van Hollen, Maryland Catherine Cortez Masto, Nevada Tina Smith, Minnesota Kyrsten Sinema, Arizona (until October 17, 2023) [12] Raphael Warnock, Georgia John Fetterman, Pennsylvania Laphonza Butler, California (from October 17, 2023) [13] George Helmy, New Jersey (from September 11, 2024)

Tim Scott, South Carolina, Ranking Member Mike Crapo, Idaho Mike Rounds, South Dakota Thom Tillis, North Carolina John Kennedy, Louisiana Bill Hagerty, Tennessee Cynthia Lummis, Wyoming JD Vance, Ohio Katie Britt, Alabama Kevin Cramer, North Dakota Steve Daines, Montana

Subcommittees

Subcommittee	Chair	Ranking Member
Economic Policy	Elizabeth Warren (D-MA)	John Kennedy (R-LA)
Financial Institutions and Consumer Protection	Raphael Warnock (D-GA)	Thom Tillis (R-NC)
Housing, Transportation, and Community Development	Tina Smith (D-MN)	Cynthia Lummis (R-WY)
National Security and International Trade and Finance	Mark Warner (D-VA)	Bill Hagerty (R-TN)
Securities, Insurance, and Investment	George Helmy (D-NJ)	Mike Rounds (R-SD)

117th Congress

Main article: 117th United States Congress

Majority	Minority
Sherrod Brown, Ohio, Chair Jack Reed, Rhode Island Bob Menendez, New Jersey Jon Tester, Montana Mark Warner, Virginia Elizabeth Warren, Massachusetts Chris Van Hollen, Maryland Catherine Cortez Masto, Nevada Tina Smith, Minnesota Kyrsten Sinema, Arizona Jon Ossoff, Georgia Raphael Warnock, Georgia	Pat Toomey, Pennsylvania, Ranking Member Richard Shelby, Alabama Mike Crapo, Idaho Tim Scott, South Carolina Mike Rounds, South Dakota Thom Tillis, North Carolina John Kennedy, Louisiana Bill Hagerty, Tennessee Cynthia Lummis, Wyoming Jerry Moran, Kansas Kevin Cramer, North Dakota Steve Daines, Montana

Subcommittees

Subcommittee	Chair	Ranking Member
Economic Policy	Elizabeth Warren (D-MA)	John Kennedy (R-LA)
Financial Institutions and Consumer Protection	Raphael Warnock (D-GA)	Thom Tillis (R-NC)
Housing, Transportation, and Community Development	Tina Smith (D-MN)	Mike Rounds (R-SD)
National Security and International Trade and Finance	Mark Warner (D-VA)	Bill Hagerty (R-TN)
Securities, Insurance, and Investment	Bob Menendez (D-NJ)	Tim Scott (R-SC)

116th Congress

Main article: 116th United States Congress

Majority	Minority
Mike Crapo, Idaho, Chair Richard Shelby, Alabama Pat Toomey, Pennsylvania Tim Scott, South Carolina Ben Sasse, Nebraska Tom Cotton, Arkansas Mike Rounds, South Dakota Thom Tillis, North Carolina John Kennedy, Louisiana Martha McSally, Arizona (until December 2, 2020) Jerry Moran, Kansas Kevin Cramer, North Dakota	Sherrod Brown, Ohio, Ranking Member Jack Reed, Rhode Island Bob Menendez, New Jersey Jon Tester, Montana Mark Warner, Virginia Elizabeth Warren, Massachusetts Brian Schatz, Hawaii Chris Van Hollen, Maryland Catherine Cortez Masto, Nevada Doug Jones, Alabama Tina Smith, Minnesota Kyrsten Sinema, Arizona

Subcommittees

Subcommittee	Chair	Ranking Member
Economic Policy	Tom Cotton (R-AR)	Catherine Cortez Masto (D-NV)
Financial Institutions and Consumer Protection	Tim Scott (R-SC)	Elizabeth Warren (D-MA)
Housing, Transportation, and Community Development	David Perdue (R-GA)	Bob Menendez (D-NJ)
National Security and International Trade and Finance	Ben Sasse (R-NE)	Mark Warner (D-VA)
Securities, Insurance, and Investment	Pat Toomey (R-PA)	Chris Van Hollen (D-MD)

115th Congress

Majority	Minority
Mike Crapo, Idaho, Chair Richard Shelby, Alabama Bob Corker, Tennessee Pat Toomey, Pennsylvania Dean Heller, Nevada Tim Scott, South Carolina Ben Sasse, Nebraska Tom Cotton, Arkansas Mike Rounds, South Dakota David Perdue, Georgia Thom Tillis, North Carolina John Kennedy, Louisiana	Sherrod Brown, Ohio, Ranking Member Jack Reed, Rhode Island Bob Menendez, New Jersey Jon Tester, Montana Mark Warner, Virginia Elizabeth Warren, Massachusetts Heidi Heitkamp, North Dakota Joe Donnelly, Indiana Brian Schatz, Hawaii Chris Van Hollen, Maryland Catherine Cortez Masto, Nevada

Subcommittees

Subcommittee	Chair	Ranking Member
Economic Policy	Tom Cotton (R-AR)	Heidi Heitkamp (D-ND)
Financial Institutions and Consumer Protection	Pat Toomey (R-PA)	Elizabeth Warren (D-MA)
Housing, Transportation, and Community Development	Tim Scott (R-SC)	Bob Menendez (D-NJ)
National Security and International Trade and Finance	Ben Sasse (R-NE)	Joe Donnelly (D-IN)
Securities, Insurance, and Investment	Dean Heller (D-NV)	Mark Warner (D-VA)

Source ^[14]

114th Congress

Majority	Minority
Richard Shelby, Alabama, Chair Mike Crapo, Idaho Bob Corker, Tennessee David Vitter, Louisiana Pat Toomey, Pennsylvania Mark Kirk, Illinois Dean Heller, Nevada Tim Scott, South Carolina Ben Sasse, Nebraska Tom Cotton, Arkansas Mike Rounds, South Dakota Jerry Moran, Kansas	Sherrod Brown, Ohio, Ranking Member Jack Reed, Rhode Island Chuck Schumer, New York Bob Menendez, New Jersey Jon Tester, Montana Mark Warner, Virginia Jeff Merkley, Oregon Elizabeth Warren, Massachusetts Heidi Heitkamp, North Dakota Joe Donnelly, Indiana

Subcommittees

Subcommittee	Chair	Ranking Member
Economic Policy	Dean Heller (R-NV)	Elizabeth Warren (D-MA)
Financial Institutions and Consumer Protection	Pat Toomey (R-PA)	Jeff Merkley (D-OR)
Housing, Transportation, and Community Development	Tim Scott (R-SC)	Bob Menendez (D-NJ)
National Security and International Trade and Finance	Mark Kirk (R-IL)	Heidi Heitkamp (D-ND)
Securities, Insurance, and Investment	Mike Crapo (R-ID)	Mark Warner (D-VA)

113th Congress

Majority	Minority
Tim Johnson, South Dakota, Chair Jack Reed, Rhode Island Chuck Schumer, New York Bob Menendez, New Jersey Sherrod Brown, Ohio Jon Tester, Montana Mark Warner, Virginia Jeff Merkley, Oregon Kay Hagan, North Carolina Joe Manchin, West Virginia Elizabeth Warren, Massachusetts Heidi Heitkamp, North Dakota	Mike Crapo, Idaho, Ranking Member Richard Shelby, Alabama Bob Corker, Tennessee David Vitter, Louisiana Mike Johanns, Nebraska Pat Toomey, Pennsylvania Mark Kirk, Illinois Jerry Moran, Kansas Tom Coburn, Oklahoma Dean Heller, Nevada

Subcommittee	Chair	Ranking Member
Economic Policy	Jeff Merkley (D-OR)	Dean Heller (R-NV)
Financial Institutions and Consumer Protection	Sherrod Brown (D-OH)	Pat Toomey (R-PA)
Housing, Transportation, and Community Development	Bob Menendez (D-NJ)	Jerry Moran (R-KS)
National Security and International Trade and Finance	Mark Warner (D-VA)	Mark Kirk (R-IL)
Securities, Insurance, and Investment	Jon Tester (D-MT)	Mike Johanns (R-NE)

See also

• List of current United States Senate committees
• United States House Committee on Financial Services, the congressional counterpart of this committee
• Pecora Commission, the commission established to investigate the causes of the Wall Street Crash of 1929
• Lavelle, Kathryn C. Money and Banks in the American Political System. NY: Cambridge. 97811017609167

References

1. "User Clip: Senate Banking Hearing 2/26/19 | C-SPAN.org". c-span.org.
2. "User Clip: FED Powell – before Senate Banking... committee 2/26/2019 | C-SPAN.org". c-span.org.
3. "Rules of the Senate | U.S. Senate Committee on Rules & Administration". rules.senate.gov.
4. "Jurisdiction". United States Committee on Banking, Housing, and Urban Affairs. Retrieved May 31, 2019. This article incorporates text from this source, which is in the public domain .
5. S.Res. 16 (119th Congress)
6. S.Res. 17 (119th Congress)
7. "Banking Committee Approves Subcommittee Assignments for the 119th Congress". United States Senate Committee on Banking, Housing, and Urban Affairs. January 23, 2025.
8. At the beginning of the 107th Congress in January 2001 the Senate was evenly divided. With a Democratic president and vice president still serving until January 20, the Democratic vice president was available to break a tie, and the Democrats thus controlled the Senate for 17 days, from January 3 to January 20. On January 3 the Senate adopted S. Res. 7 designating Democratic senators as committee chairs to serve during this period and Republican chairs to serve effective at noon on January 20, 2001.
9. 5 On June 6, 2001, the Democrats took control of the Senate after Senator James Jeffords (VT) changed from the Republican Party to Independent and announced that he would caucus with the Democrats
10. S.Res. 30 (118th Congress)
11. S.Res. 31 (118th Congress)
12. Kyrsten Sinema is an independent but caucuses with the Democrats.
13. "Majority Leader Schumer Announces New Senate Democratic Committee Assignments". Senate Democrats. October 17, 2023. Retrieved October 18, 2023.
14. "U.S. Senate: Committee on Banking, Housing, and Urban Affairs". senate.gov. Retrieved January 7, 2017.

External links

• U.S. Senate Committee on Banking, Housing, and Urban Affairs (Archive)
• Senate Banking, Housing, and Urban Affairs Committee. Legislation activity and reports, Congress.gov.