Outgoing Speaker of the NC House and Congressman-elect Tim Moore, R-14, has been assigned a seat on the House Financial Services Committee once he takes office in the 119th Congress in January of 2025.

The House Financial Services Committee holds jurisdiction over policies related to the economy, banking systems, housing, insurance, and securities and exchanges. The Committee also has jurisdiction over matters related to monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing. 

The Committee oversees the Nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation’s capital markets.

As Moore mentions in his post, North Carolina is an important banking and finance capital, representing one of the largest concentrations of banking and insurance interests outside the New York City metropolitan area.

The Committee also oversees several federal agencies, including the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank.

With the advent of crypto, and the aggressive pro-crypto character of the incoming administration of President-elect Donald Trump, the Committee may also play host to relevant hearings and policy debates as the nation enters a new paradigm in finance and capital markets.

The Trump administration’s selections to lead several of the agencies overseen by the Committee are viewed by many as change agents that may further catalyze the congressional activity intersecting with House Financial Services jurisdictions.