WASHINGTON, DC – The House Republican Steering Committee has appointed Congressman Bill Posey (R-FL) to the House Financial Services Committee, the Congressional committee responsible for overseeing the nation’s financial sector and federal public housing services.

 

“This is a tremendous responsibility at this time in history and I am honored to have been asked to serve on this select committee,” said Congressman Posey. “There’s much to do and I’m ready to work with my fellow committee members to bring much needed accountability and reform to both the financial and housing sectors. I have always been and will continue to be an advocate for the little guy and the consumer.”

 

Specifically, the House Financial Services Committee’s jurisdiction includes laws related to the nation’s banking sector, insurance industry, real estate, securities, consumer privacy and protection, and public and assisted housing programs. The Committee also has authority over such agencies as the Federal Reserve Bank, the Federal Deposit Insurance Corporation, Fannie Mae and Freddie Mac, the World Bank, the International Monetary Fund and the U.S. Department of Housing and Urban Development.

 

“As Chairman of the Banking and Insurance Committee in the Florida State Senate, Congressman Bill Posey established a track record as a problem solver who successfully quarterbacked tough issues like workers compensation, medical malpractice and auto insurance reforms. He also reformed Florida’s complex insurance laws to lower rates and increase competition in response to the devastating 2004 and 2005 hurricane seasons,” said Congressman Spencer Bachus, the Committee’s Ranking Member. 

 

“His longstanding commitment to accountability and transparency, coupled with his background in real estate and his understanding of the housing market makes him a valuable asset to the House Financial Services Committee, especially in these challenging times. I’m looking forward to serving with Bill and having him on our team.”