Seat on Highly Sought-After Panel Ensures Western New Yorkers a Voice in Economic Recovery
"For too long, Washington failed to protect families, seniors and taxpayers from this crisis. That's why I pledge to work tirelessly on behalf of the people of Western New York in this important role. I am eager to change how Washington does business and reform the financial industry to protect taxpayers, create new jobs and help Western New York’s economic recovery."
WASHINGTON – A day after being sworn-in, Congressman Chris Lee (NY-26) was appointed by House Republican leaders to the influential House Committee on Financial Services. Congressman Lee fought for a seat on the sought-after panel to ensure Western New Yorkers were represented on the front lines of efforts to create jobs, protect taxpayers, aid homeowners and right our economy.
"I'm humbled by the opportunity to serve on the Financial Services Committee, which will play a leading role in strengthening our economy and creating new jobs," Congressman Lee said. "The people of Western New York need no reminder about how our economy is in crisis. The financial futures of too many seniors, working families, and small business owners have been put at risk because of Wall Street excess and Washington irresponsibility. The dream of homeownership for middle-class families has been jeopardized, with foreclosures on the rise and affordable mortgages harder to come by. We saw major banks and financial institutions taken over, bought out or allowed to fail. Job losses continue to mount.
"For too long, Washington failed to protect families, seniors and taxpayers from this crisis. That's why I pledge to work tirelessly on behalf of the people of Western New York in this important role. I am eager to change how Washington does business and reform the financial industry to protect taxpayers, create new jobs and help Western New York’s economic recovery."
Congressman Lee brings to the Financial Services Committee two decades of experience in the private sector, where he gained a first-hand understanding of the tough decisions businesses face every day and helped create hundreds of good-paying jobs for Western New Yorkers.
Congressman Spencer Bachus (R-AL), the top Republican on the Financial Services Committee, cited Congressman Lee’s business experience in commenting on the appointment: "Chris Lee's background creating jobs in manufacturing and working in the private sector make him the right kind of leader to have on the Financial Services Committee at this critical juncture in our nation’s history. He will be a strong voice on behalf of Main Street taxpayers for much-needed reforms of the way the financial industry operates."
"It is an honor to be entrusted by my colleagues with this responsibility, and I look forward to working with both Republicans and Democrats on the committee," Congressman Lee added.
The House Committee on Financial Services, chaired by Congressman Barney Frank (D-MA), oversees all components of the nation’s housing and financial services sectors, including banking, insurance, real estate, public and assisted housing, and securities. The Committee also oversees the work of the Federal Reserve, the Treasury Department, the Securities and Exchange Commission, mortgage giants Fannie Mae and Freddie Mac, and other financial services regulators.
The committee is expected to have a robust legislative agenda to continue addressing the housing crisis and the severe challenges facing America's banks and financial institutions, on which so much depends for job creation and retirement security in Western New York. For more information, visit http://financialservices.house.gov.
The Financial Services Committee is an exclusive committee in the U.S. House of Representatives, meaning that its members generally do not have other committee assignments. To learn more about Congressman Lee and the 26th district, visit http://chrislee.house.gov.
