Banking Committee announces new subcommittee assignments for 119th Congress

The U.S. Senate Committee on Banking, Housing, and Urban Affairs has approved subcommittee assignments for the 119th Congress. The announcement was made by Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.).

Chairman Scott stated, "In the 119th Congress, we have an opportunity to deliver tangible results for the American people. As we return the committee to regular order, our subcommittees will have a key role in vetting and developing legislation within our jurisdiction. I’m also proud to announce the Subcommittee on Digital Assets, which will ensure the committee is at the forefront of legislation to provide regulatory clarity for the industry. I look forward to working with and empowering subcommittee leadership to ensure we are promoting economic opportunity and uplifting all Americans."

Ranking Member Warren added, "The work of this Committee and its subcommittees is critical – from lowering housing costs and protecting Americans from getting ripped off to growing industry, promoting innovation, and creating jobs here at home. I look forward to working with the Democratic and Republican leaders and members of each subcommittee to help families across the country build a better future."

The following are some of the subcommittees formed:

- Economic Policy: Chaired by Senator John Kennedy (R-La.), with Senator Raphael Warnock (D-Ga.) as Ranking Member.

- Financial Institutions and Consumer Protection: Led by Senator Thom Tillis (R-N.C.), with Senator Catherine Cortez Masto (D-Nev.) as Ranking Member.

- Housing, Transportation, and Community Development: Headed by Senator Katie Britt (R-Ala.), with Senator Tina Smith (D-Minn.) as Ranking Member.

- National Security and International Trade and Finance: Chaired by Senator Bill Hagerty (R-Tenn.), with Senator Andy Kim (D-N.J.) as Ranking Member.

- Securities, Insurance, and Investment: Led by Senator Mike Rounds (R-S.D.), with Senator Mark Warner (D-Va.) as Ranking Member.

- Digital Assets: Chaired by Senator Cynthia Lummis (R-Wyo.), with Senator Ruben Gallego (D-Ariz.) as Ranking Member.

Chairman Scott and Ranking Member Warren serve on all subcommittees as ex-officio, non-voting members.