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

Senate Banking, Housing and Urban Affairs Committee
Standing committee
Active; ; United States Senate; 118th Congress
History
Formed	1913
Formerly known as	Committee on Banking and Currency
Leadership
Chair	Sherrod Brown (D) ; Since February 3, 2021
Ranking member	Tim Scott (R) ; Since January 3, 2023
Structure
Seats	23 members
Political parties	Majority (12) Democratic (11); Independent (1); Minority (11) Republican (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;
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 Democrat Sherrod Brown of Ohio, and the Ranking Member is Republican Tim Scott of South Carolina.

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 chairman.

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:

Banks, banking, and financial institutions;
Control of the prices of commodities, rents, and services;
Deposit insurance;
Economic stabilization and defense production;
Export and foreign trade promotion;
Export controls;
Federal monetary policy, including the Federal Reserve System;
Financial aid to commerce and industry;
Issuance and redemption of notes;
Money and credit, including currency and coinage;
Nursing home construction;
Public and private housing (including veterans' housing);
Renegotiation of Government contracts; and,
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, 118th Congress

Majority^[5]	Minority^[6]
Sherrod Brown, Ohio, Chairman 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 (until October 17, 2023)^[7] Raphael Warnock, Georgia John Fetterman, Pennsylvania Laphonza Butler, California (from October 17, 2023) ^[8]	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 J. D. 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	Bob Menendez (D-NJ)	Mike Rounds (R-SD)

Chairs

Committee on Banking and Currency, 1913–1970

	Party	State	Years
Robert L. Owen	Democratic	Oklahoma	1913–1919
George P. McLean	Republican	Connecticut	1919–1927
Peter Norbeck	Republican	South Dakota	1927–1933
Duncan U. Fletcher	Democratic	Florida	1933–1936^[9]
Robert F. Wagner	Democratic	New York	1937–1947
Charles W. Tobey	Republican	New Hampshire	1947–1949
Burnet R. Maybank	Democratic	South Carolina	1949–1953
Homer Capehart	Republican	Indiana	1953–1955
J. William Fulbright	Democratic	Arkansas	1955–1959
A. Willis Robertson	Democratic	Virginia	1959–1966
John J. Sparkman	Democratic	Alabama	1967–1970

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

	Party	State	Years
John J. 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
Alfonse M. D'Amato	Republican	New York	1995–1999
Phil Gramm	Republican	Texas	1999–2001
Paul Sarbanes	Democratic	Maryland	2001^[10]
Phil Gramm	Republican	Texas	2001
Paul Sarbanes	Democratic	Maryland	2001–2003^[11]
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–present

Historical membership rosters

117th Congress

Majority	Minority
Sherrod Brown, Ohio, Chairman 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

Majority	Minority
Mike Crapo, Idaho, Chairman 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^[12]

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 Bob Menendez, New Jersey Jon Tester, Montana Mark Warner, Virginia Jeff Merkley, Oregon Elizabeth Warren, Massachusetts Heidi Heitkamp, North Dakota Joe Donnelly, Indiana