# Senate Banking Committee The **Senate Committee on Banking, Housing, and Urban Affairs** holds jurisdiction over the financial regulators this vault tracks most closely — the [[Federal Reserve]], [[SEC]], [[FDIC]], [[OCC]] and the [[CFPB]] — plus housing, export controls, and the confirmation of the officials who run them. It is the principal venue for the vault's coverage of crypto-regulatory capture, the CFPB shutdown fight, and the financial-agency confirmations of the second Trump administration. ## Jurisdiction Senate Rule XXV assigns the committee: - banks, banking and financial institutions, and deposit insurance - federal monetary policy, including the Federal Reserve System - money and credit, currency and coinage - public and private housing, urban development and mass transit - export controls and export promotion - "economic stabilization and defense production" — the hook for the [[Defense Production Act]] In practice that means the committee screens nominees to the Fed Board, SEC, FDIC, OCC, CFPB, [[Department of Housing and Urban Development]], [[FHFA]], the Export-Import Bank, and domestic-finance posts at the [[Department of the Treasury]]. Its National Security and International Trade and Finance subcommittee covers the export-control, sanctions and foreign-investment ground where [[Office of Foreign Assets Control]] and [[CFIUS]] operate. The committee was created in 1913 as the Committee on Banking and Currency, alongside the [[Federal Reserve Act]], and later renamed. Its 1932–34 investigation of the 1929 crash, run by counsel Ferdinand Pecora, produced the Glass–Steagall Act and the securities laws of 1933 and 1934. ## Leadership and membership (119th Congress) [[Tim Scott]] (R-SC) has chaired the committee since January 3, 2025; [[Elizabeth Warren]] (D-MA) has been ranking member since the same date. The committee has 24 members, 13 Republicans and 11 Democrats, and six subcommittees, including the Senate's first Digital Assets subcommittee, chaired by [[Cynthia Lummis]]. The previous chair, [[Sherrod Brown]] (2021–2025), lost his seat in 2024 to [[Bernie Moreno]]. That race is why [[Emilie Choi]]'s page cites the committee: crypto-industry money targeted the sitting Banking chair. ## The 2025–26 record | Date | Action | Vote | |---|---|---| | Mar 13, 2025 | Reported the [[GENIUS Act]] stablecoin bill, signed into law July 18, 2025 | 18–6 | | Apr 29, 2026 | Advanced [[Kevin Warsh]] for Fed chair after [[Thom Tillis]] dropped his hold once the Justice Department closed its probe of [[Jerome Powell]] | 13–11, party line | | May 13, 2026 | Full Senate confirms Warsh | 54–45 | | May 14, 2026 | Advanced the [[CLARITY Act]] crypto market-structure bill; Democrats [[Ruben Gallego]] and Angela Alsobrooks joined Republicans | 15–9 | | Oct 1, 2026 | Out-of-session hearing on four nominees (HUD, Treasury, two Export-Import Bank posts), held hours after the Senate recessed for the midterms | — | At the October 1 hearing Warren objected that the committee was "ramming through" nominees. She also said FHFA Director [[Bill Pulte]] had moved to cut the FHFA inspector general's funding by 60 percent. ## Why the vault cites it The committee is where the crypto industry's legislative program meets the president's family business interests. Warren used her ranking seat to lead opposition to [[World Liberty Financial]]'s bid for a full trust-bank charter, as logged in [[Trump Corruption News Log]]. The ethics amendment barring officials from owning crypto businesses failed 13–11 in the CLARITY markup. For the Fed side of the committee's work, see [[Interest Rate Policy Timeline]]. ## See Also - [[Tim Scott]] · [[Elizabeth Warren]] · [[Cynthia Lummis]] — chair, ranking member, digital-assets subcommittee chair - [[Federal Reserve]] · [[CFPB]] · [[SEC]] · [[FDIC]] · [[OCC]] · [[FHFA]] — agencies under its jurisdiction - [[GENIUS Act]] · [[CLARITY Act]] · [[Stablecoin]] · [[Regulatory Capture]] - [[Committees Hub]] · [[Senate Appropriations Committee]] · [[Senate Judiciary Committee]] — sibling committees