Cortez Masto will join the Financial Institutions and Consumer Protection Subcommittee and the Securities, Insurance, and Investment Subcommittee
Washington, DC – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) announced that she would join two subcommittees as a member of the Senate Committee on Banking, Housing and Urban Affairs. In the 115th Congress, Cortez Masto will serve on the Financial Institutions and Consumer Protection Subcommittee and the Securities, Insurance, and Investment Subcommittee.
“When recklessness on Wall Street devastated our economy nearly a decade ago, our state became the epicenter of the housing market crash and unemployment crisis,” said Senator Cortez Masto. “In my two terms as Nevada’s Attorney General, I took on the Big Banks when they preyed on homeowners and fought to protect consumers from fraud and deception. I’m looking forward to these new subcommittee assignments, where I will be able to be more intimately involved on issues that will make a difference for Nevada’s working families, like protecting the Consumer Financial Protection Bureau, overseeing the Federal Home Loan Banks system, and defending Wall Street reform.”
Background
The Financial Institutions and Consumer Protection Subcommittee oversees:
- Banks, savings associations, credit unions, and other financial institutions
- Deposit Insurance
- Federal Home Loan Bank System
- Regulatory activities of the Federal Reserve System
- OCC, FDIC, NCUA
- E-commerce
- Consumer Financial Protection Bureau
The Securities, Insurance, and Investment Subcommittee oversees:
- Securities, annuities, and other financial investments
- SEC: SIPC: CFTC (single stock futures and other financial instruments within CFTC jurisdiction)
- Government securities
- Fannie Mae; Freddie Mac
- Financial exchanges and markets
- Financial derivatives
- Accounting standards
- Insurance