WASHINGTON — House Democrats have chosen ranking members for the five banking panel subcommittees.

Rep. Carolyn Maloney of New York will be the top Democrat on the capital markets and government-sponsored enterprises subcommittee, succeeding Rep. Maxine Waters, who is now ranking member for the full committee. Rep. Gregory Meeks of New York will lead the financial institutions and consumer credit subcommittee for the Democrats, and Rep. Michael Capuano of Massachusetts will sit as ranking member on the insurance, housing and community opportunity subcommittee.

Rep. William "Lacy" Clay of Missouri will serve as the top Democrat on the domestic and international monetary policy subcommittee, and Rep. Al Green of Texas will lead the oversight and investigations subcommittee.

The ranking member assignments will be finalized after they are approved by the Democratic Policy and Steering Committee and the Democratic Caucus.

"I look forward to working with these extraordinarily well-qualified Democratic members of the House Financial Services Committee," said Waters in a press release Tuesday. "We will have strong subcommittees with excellent, experienced leadership, as well as members who are well-versed and deeply committed to the issues they will consider. This is a strong team, and we will work together closely to defend and advance our principles."

Democrats have also assigned banking panel members to each subcommittee based on seniority and preference, according to the press release.

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