The American Banker's Association Banking Journal is reporting that Guam Delegate Michael San Nicolas has been named to the House Financial Services Committee. The committee is currently chaired by Democrat Maxine Waters from California. Waters was elected chair and assumed office on Jan. 3, 2019.
The committee, also referred to as the House Banking Committee and formerly known as the Committee on Banking and Currency, is the committee of the United States House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking and housing industries. The Financial Services Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission and other financial services regulators.
According to the Banking Journal, San Nicolas will join a bumper crop of both Democratic and Republican representatives, both freshmen and veterans.
They include returning Reps. Alma Adams (D-N.C.), Tulsi Gabbard (D-Hawaii) and Al Lawson (D-Fla.). They will be joined by freshman Reps. Cindy Axne (D-Iowa), Sean Casten (D-Ill.), Madeleine Dean (D-Penn.), Chuy Garcia (D-Ill.), Sylvia Garcia (D-Texas), Ben McAdams (D-Utah), Alexandria Ocasio-Cortez (D-N.Y.), Dean Phillips (D-Minn.), Katie Porter (D-Calif.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.).
Meanwhile, five freshman Republicans are set to join the committee: Anthony Gonzalez (R-Ohio), Lance Gooden (R-Texas), Denver Riggleman (R-Va.), John Rose (R-Tenn.) and Bryan Steil (R-Wis.).