WASHINGTON The House Financial Services Committee has appointed five subcommittee chairs for the next Congress.
Rep. Jeb Hensarling, R-Texas, was again appointed as chairman of the banking panel earlier this week, and Rep. Maxine Waters, D-Calif., will return as ranking member. The GOP will have an even stronger majority in the House next year, and an even bigger proportion of members on the committee.
"I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down," said Hensarling in a press release. "Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people."
Hensarling selected five Republican lawmakers to head the panel's subcommittees all have been active on banking issues over the past two years and have been generally supportive of Hensarling's priorities.
Rep. Randy Neugebauer, R-Texas, will take the gavel on the coveted financial institutions and consumer credit subcommittee, previously chaired by Rep. Shelley Moore Capito, R-W.Va., who will join the Senate in January.
Rep. Blaine Luetkemeyer, R-Mo., a former banker, will take over the housing and insurance subcommittee from Neugebauer.
Rep. Sean Duffy, R-Wis., will serve as chairman of the oversight and investigations subcommittee, replacing Rep. Patrick McHenry, R-N.C., who now plays a key role in Republican leadership as deputy whip.
Rep. Bill Huizenga, R-Mich., will lead the monetary policy and trade subcommittee, replacing retiring congressman Rep. John Campbell, R-Calif.
Rep. Scott Garrett, R-N.J., will keep his post as chairman of the capital markets and government-sponsored enterprises subcommittee.
Meanwhile, senior lawmaker Rep. Frank Lucas, R-Okla., who had considered a run for the committee gavel earlier this fall, was not awarded a subcommittee chair.
Some said that the House Agriculture Committee chairman, who will reach his term limit in that role at the end of this year, announced a possible bid against Hensarling because he'd be passed over for a subcommittee position on the banking panel. Lucas subsequently withdrew his run for the seat, reportedly citing leadership's support for Hensarling.