The House Financial Services Committee has jurisdiction over issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges. Additionally, the Committee also has jurisdiction over monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing. The Committee oversees the Nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation’s capital markets. Financial services issues are vitally important to Georgia, which is home to more banks than any other southern state.
Within the Peach State lies sixty percent of the nation’s financial technology companies and seventy percent of the nation’s transaction processing, along with strong insurance, retail, securities, and housing industries. Rep. Loudermilk brings a unique background and perspective to the committee as an IT professional, a former small business owner, and a veteran.
Agencies under oversight by the Committee include: the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank.
