Jan. 24, 2013 – The House Financial Services Committee held its organizing meeting Wednesday, formally approving the subcommittee assignments announced Tuesday and clarifying the charge of the Subcommittee on Financial Institutions.
The subcommittee, chaired by Rep. Shelley Moore Capito, R-W.Va., has had jurisdiction of electronic funds transfer issues. Full Committee Chairman Jeb Hensarling, R-Texas, pointed out this charge has been clarified to specifically include jurisdiction over the use of mobile devices for consumer transactions.
That clarification is part of the rules package approved by the panel on Wednesday. Overall, the rules are close to those governing the committee’s work in the previous Congress. One key change is the merging of the subcommittees with jurisdiction over domestic and international monetary policy.