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Lawmakers at House hearing voice excitement about evolving industry, but also express concern about security and regulatory gaps.
March 22
WASHINGTON — Rep. Shelley Moore Capito, a senior member on the House Financial Services Committee, has set her sights on the Senate.
The West Virginia Republican said Monday that she plans to run for the seat now held by Sen. Jay Rockefeller, a Democrat, in 2014.
"We are experiencing changing leadership in our state resulting in a greater political balance between parties," Capito said during a press conference at the state Capitol, according to the Associated Press. "West Virginia needs a new and diverse voice in the U.S. Senate."
The decision could spur the lawmaker to step up her activity on the banking panel to help raise her profile. She's already chair of the subcommittee on financial institutions and consumer credit.
"I do think that it's in her best interest to advance numerous pieces of legislation and appear to be very active," said Isaac Boltansky, a policy analyst at Compass Point Research & Trading. He added that she may also use the subcommittee to hold numerous hearings on concerns related to consumer credit, the Consumer Financial Protection Bureau and other issues like mobile banking.
"It's an important subcommittee position that allows her an enormous amount of visibility and name recognition in finance services sector. That benefits her procedurally and in terms of fundraising for her upcoming campaign," he added.
