WASHINGTON — Three subcommittees for the Senate Banking Committee will have different chairs this Congress, the panel announced Friday.
As part of a reshuffling of subcommittee membership, Sen. Tim Scott, R-S.C., will lead the financial institutions and consumer protection subcommittee, which was previously led by Sen. Pat Toomey, R-Pa. Sen. Elizabeth Warren, D-Mass., will continue to serve as the ranking member.
Toomey will now lead the subcommittee on securities and investment, which was led by former Sen. Dean Heller, R-Nev. Sen. Chris Van Hollen, D-Md., will step in as ranking member, a position Sen. Mark Warner, D-Va., previously held.
“I am confident in the leadership of our subcommittee chairs, who will play a critical role in promoting the Committee’s agenda in the 116th Congress,” said Senate Banking Committee Chairman Mike Crapo, R-Idaho, in a statement.
Sen. David Perdue, R-Ga., will take over for Scott as the chairman of the housing, transportation and community development subcommittee. Sen. Bob Menendez, D-N.J., will continue to serve as the ranking member of the subcommittee.
Sen. Catherine Cortez Masto, D-Nev., will become the ranking member of the economic policy subcommittee, and Warner will become the ranking member of the national security subcommittee. Those two subcommittees will continue to be led by Sens. Tom Cotton, R-Ark., and Sen. Ben Sasse, R-Neb., respectively.
The changes to the subcommittees come after the retirement of former Sen. Bob Corker, R-Tenn., and the departures of former Sens. Joe Donnelly, D-Ind., Heidi Heitkamp, D-N.D., and Heller after they lost their re-election bids in November. Sens. Tina Smith, D-Minn., Kevin Cramer, R-N.D., Martha McSally, R-Ariz., and Kyrsten Sinema, D-Ariz., have replaced the outgoing members.
