Congressman Sherman to Remain a Fighter for Consumer Rights on the Financial Services Committee
Washington, D.C. – Today, Congressman Brad Sherman, a senior member of the House Financial Services Committee, will join the following Subcommittees for the 115th Congress: (1) Capital Markets, Securities, and Investment; (2) Housing and Insurance; (3) Monetary Policy and Trade.
"Just this week President Trump doubled down on his plan to dismantle Dodd-Frank calling it a disaster, I will be a strong opponent of Republican rollbacks of consumer protection," Sherman said.
The Capital Markets, Securities, and Investment Subcommittee has jurisdiction over the Securities and Exchange Commission and all capital market activities. On Housing and Insurance, Sherman will oversee home mortgages, homeless assistance, and insurance. Sherman's third Subcommittee, Monetary Policy, and Trade will have oversight of interest rates and the Export-Import Bank.
Sherman was among the leaders behind the formation of the Consumer Financial Protection Agency, which protects consumers from unfair banking and lending practices, such as deceptive overdraft practices. In 2009, he helped successfully defeat a Treasury Department proposal that would have put taxpayers permanently on the hook for risky Wall Street behavior.