[House Prints 115-A]
[From the U.S. Government Publishing Office]







   115th Congress   }                             {      Committee                                            
                           COMMITTEE PRINT    
    1st Session     }                             {    Print 115-A                                                             
_______________________________________________________________________

                                     



                             RULES FOR THE

                    COMMITTEE ON FINANCIAL SERVICES

                     U.S. HOUSE OF REPRESENTATIVES

                     ONE HUNDRED FIFTEENTH CONGRESS

                             FIRST SESSION





[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]


                              February 2017



















 115th Congress   }                             {      Committee                                            
                           COMMITTEE PRINT    
  1st Session     }                             {    Print 115-A                                                             
_______________________________________________________________________

                                     



                             RULES FOR THE

                    COMMITTEE ON FINANCIAL SERVICES

                     U.S. HOUSE OF REPRESENTATIVES

                     ONE HUNDRED FIFTEENTH CONGRESS

                             FIRST SESSION





[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]



                             February  2017
                             
                             
                             
                             
                             
                             
                                        ______

                         U.S. GOVERNMENT PUBLISHING OFFICE 

24-273                         WASHINGTON : 2017                         
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             

                 HOUSE COMMITTEE ON FINANCIAL SERVICES

                    JEB HENSARLING, Texas, Chairman
PETER T. KING, New York              MAXINE WATERS, California,
EDWARD R. ROYCE, California            Ranking Member
FRANK D. LUCAS, Oklahoma             CAROLYN B. MALONEY, New York
PATRICK T. McHENRY, North Carolina   NYDIA M. VELAZQUEZ, New York
STEVAN PEARCE, New Mexico            BRAD SHERMAN, California
BILL POSEY, Florida                  GREGORY W. MEEKS, New York
BLAINE LUETKEMEYER, Missouri         MICHAEL E. CAPUANO, Massachusetts
BILL HUIZENGA, Michigan              WM. LACY CLAY, Missouri
SEAN P. DUFFY, Wisconsin             STEPHEN F. LYNCH, Massachusetts
STEVE STIVERS, Ohio                  DAVID SCOTT, Georgia
RANDY HULTGREN, Illinois             AL GREEN, Texas
DENNIS A. ROSS, Florida              EMANUEL CLEAVER, Missouri
ROBERT PITTENGER, North Carolina     GWEN MOORE, Wisconsin
ANN WAGNER, Missouri                 KEITH ELLISON, Minnesota
ANDY BARR, Kentucky                  ED PERLMUTTER, Colorado
KEITH J. ROTHFUS, Pennsylvania       JAMES A. HIMES, Connecticut
LUKE MESSER, Indiana                 BILL FOSTER, Illinois
SCOTT TIPTON, Colorado               DANIEL T. KILDEE, Michigan
ROGER WILLIAMS, Texas                JOHN K. DELANEY, Maryland
BRUCE POLIQUIN, Maine                KYRSTEN SINEMA, Arizona
MIA LOVE, Utah                       JOYCE BEATTY, Ohio
FRENCH HILL, Arkansas                DENNY HECK, Washington
TOM EMMER, Minnesota                 JUAN VARGAS, California
LEE M. ZELDIN, New York              JOSH GOTTHEIMER, New Jersey
DAVID A. TROTT, Michigan             VICENTE GONZALEZ, Texas
BARRY LOUDERMILK, Georgia            CHARLIE CRIST, Florida
ALEXANDER X. MOONEY, West Virginia   RUBEN KIHUEN, Nevada
THOMAS MacARTHUR, New Jersey
WARREN DAVIDSON, Ohio
TED BUDD, North Carolina
DAVID KUSTOFF, Tennessee
CLAUDIA TENNEY, New York
TREY HOLLINGSWORTH, Indiana
                      Kirsten Mork, Staff Director
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                      
                            C O N T E N T S

                              ----------                              
                                                                   Page
Rules
Rule 1--General Provisions.......................................     1
Rule 2--Meetings.................................................     1
Rule 3--Meeting and Hearing Procedures...........................     2
Rule 4--Procedures for Reporting Measures or Matters.............     6
Rule 5--Subcommittees............................................     6
Rule 6--Staff....................................................    11
Rule 7--Budget and Travel........................................    12
Rule 8--Committee Administration.................................    12
 
              RULES OF THE COMMITTEE ON FINANCIAL SERVICES

                     U.S. House of Representatives

                             115th Congress

                              ----------                              


                                 Rule 1

                           General Provisions

    (a) The rules of the House are the rules of the Committee 
on Financial Services (hereinafter in these rules referred to 
as the ``Committee'') and its subcommittees so far as 
applicable, except that a motion to recess from day to day, and 
a motion to dispense with the first reading (in full) of a bill 
or resolution, if printed copies are available, are privileged 
motions in the Committee and shall be considered without 
debate. A proposed investigative or oversight report shall be 
considered as read if it has been available to the members of 
the Committee for at least 24 hours (excluding Saturdays, 
Sundays, or legal holidays except when the House is in session 
on such day).
    (b) Each subcommittee is a part of the Committee, and is 
subject to the authority and direction of the Committee and to 
its rules so far as applicable.
    (c) The provisions of clause 2 of rule XI of the Rules of 
the House are incorporated by reference as the rules of the 
Committee to the extent applicable.

                                 Rule 2

                                Meetings

                          Calling of Meetings

    (a)(1) The Committee shall regularly meet on the first 
Tuesday of each month when the House is in session.
          (2) A regular meeting of the Committee may be 
        dispensed with if, in the judgment of the Chairman of 
        the Committee (hereinafter in these rules referred to 
        as the ``Chair''), there is no need for the meeting.
          (3) Additional regular meetings and hearings of the 
        Committee may be called by the Chair, in accordance 
        with clause 2(g)(3) of rule XI of the Rules of the 
        House.
          (4) Special meetings shall be called and convened by 
        the Chair as provided in clause 2(c)(2) of rule XI of 
        the Rules of the House.

                          Notice for Meetings

    (b)(1) The Chair shall notify each member of the Committee 
of the agenda of each regular meeting of the Committee at least 
three calendar days (excluding Saturdays, Sundays, and legal 
holidays except when the House is in session on any such day) 
before the time of the meeting.
          (2) The Chair shall provide to each member of the 
        Committee, at least three calendar days (excluding 
        Saturdays, Sundays, and legal holidays except when the 
        House is in session on any such day) before the time of 
        each regular meeting for each measure or matter on the 
        agenda a copy of--
                  (A) the measure or materials relating to the 
                matter in question; and
                  (B) an explanation of the measure or matter 
                to be considered, which, in the case of an 
                explanation of a bill, resolution, or similar 
                measure, shall include a summary of the major 
                provisions of the legislation, an explanation 
                of the relationship of the measure to present 
                law, and a summary of the need for the 
                legislation.
          (3) At least 24 hours prior to the commencement of a 
        meeting for the markup of legislation, the Chair shall 
        cause the text of such legislation to be made publicly 
        available in electronic form.
          (4) The provisions of this subsection may be waived 
        by a two- thirds vote of the Committee or by the Chair 
        with the concurrence of the ranking minority member.

                                 Rule 3

                     Meeting and Hearing Procedures

                               In General

    (a)(1) Meetings and hearings of the Committee shall be 
called to order and presided over by the Chair or, in the 
Chair's absence, by a member designated by the Chair to carry 
out such duties.
          (2) Meetings and hearings of the Committee shall be 
        open to the public unless closed in accordance with 
        clause 2(g) of rule XI of the Rules of the House.
          (3) Any meeting or hearing of the Committee that is 
        open to the public shall be open to coverage by 
        television broadcast, radio broadcast, and still 
        photography in accordance with the provisions of clause 
        4 of rule XI of the Rules of the House (which are 
        incorporated by reference as part of these rules). 
        Operation and use of any Committee operated broadcast 
        system shall be fair and nonpartisan and in accordance 
        with clause 4(b) of rule XI and all other applicable 
        rules of the Committee and the House.
          (4) To the extent feasible, members and witnesses may 
        use the Committee equipment for the purpose of 
        presenting information electronically during a meeting 
        or hearing, provided the information is transmitted to 
        the appropriate Committee staff in an appropriate 
        electronic format at least one business day before the 
        meeting or hearing so as to ensure display capacity and 
        quality. The content of all materials must relate to 
        the pending business of the Committee and conform to 
        the Rules of the House. The confidentiality of the 
        material will be maintained by the technical staff 
        until its official presentation to the Committee 
        members. For the purposes of maintaining the official 
        records of the committee, printed copies of all 
        materials presented, to the extent practicable, must 
        accompany the presentations.
          (5) No person, other than a Member of Congress, 
        Committee staff, or an employee of a Member when that 
        Member has an amendment under consideration, may stand 
        in or be seated at the rostrum area of the Committee 
        rooms unless the Chair determines otherwise.

                                 Quorum

    (b)(1) For the purpose of taking testimony and receiving 
evidence, two members of the Committee shall constitute a 
quorum.
          (2) A majority of the members of the Committee shall 
        constitute a quorum for the purposes of reporting any 
        measure or matter, of authorizing a subpoena (other 
        than a subpoena authorized and issued by the Chair 
        pursuant to subsection (e)(1)), of closing a meeting or 
        hearing pursuant to clause 2(g) of rule XI of the Rules 
        of the House (except as provided in clause 2(g)(2)(A) 
        and (B)) or of releasing executive session material 
        pursuant to clause 2(k)(7) of rule XI of the Rules of 
        the House.
          (3) For the purpose of taking any action other than 
        those specified in paragraph (2), one-third of the 
        members of the Committee shall constitute a quorum.

                                 Voting

    (c)(1) No vote may be conducted on any measure or matter 
pending before the Committee unless the requisite number of 
members of the Committee is actually present for such purpose.
          (2) A record vote of the Committee shall be provided 
        on any question before the Committee upon the request 
        of one-fifth of the members present.
          (3) No vote by any member of the Committee on any 
        measure or matter may be cast by proxy.
          (4) In addition to any other requirement of these 
        rules or the Rules of the House, including clause 
        2(e)(1)(B) of rule XI, the Chair shall make the record 
        of the votes on any question on which a record vote is 
        demanded publicly available for inspection at the 
        offices of the Committee and in electronic form on the 
        Committee's website not later than one business day 
        after such vote is taken. Such record shall include in 
        electronic form the text of the amendment, motion, 
        order, or other proposition, the name of each member 
        voting for and each member voting against such 
        amendment, motion, order, or proposition, and the names 
        of those members of the Committee present but not 
        voting. With respect to any record vote on any motion 
        to report or record vote on any amendment, a record of 
        such votes shall be included in the report of the 
        Committee showing the total number of votes cast for 
        and against and the names of those members of the 
        committee present but not voting.
          (5) Postponed Record Votes.--(A) Subject to 
        subparagraph (B), the Chairman may postpone further 
        proceedings when a record vote is ordered on the 
        question of approving any measure or matter or adopting 
        an amendment. The Chairman may resume proceedings on a 
        postponed request at any time, but no later than the 
        next meeting day.
                  (B) In exercising postponement authority 
                under subparagraph (A), the Chairman shall take 
                all reasonable steps necessary to notify 
                members on the resumption of proceedings on any 
                postponed record vote.
                  (C) When proceedings resume on a postponed 
                question, notwithstanding any intervening order 
                for the previous question, an underlying 
                proposition shall remain subject to further 
                debate or amendment to the same extent as when 
                the question was postponed.
                  (D) The Chair's authority to postpone 
                recorded votes will not be used to prejudice a 
                member with regard to the offering of another 
                amendment. In the application of this rule, the 
                Chair will consult regularly with the ranking 
                minority member regarding the scheduling of the 
                resumption of postponed votes.

                           Hearing Procedures

    (d)(1)(A) The Chair shall make public announcement of the 
date, place, and subject matter of any committee hearing at 
least one week before the commencement of the hearing, unless 
the Chair, with the concurrence of the ranking minority member, 
or the Committee by majority vote with a quorum present for the 
transaction of business, determines there is good cause to 
begin the hearing sooner, in which case the Chair shall make 
the announcement at the earliest possible date.
                  (B) Not less than three days before the 
                commencement of a hearing (excluding Saturdays, 
                Sundays, and legal holidays except when the 
                House is in session on any such day) announced 
                under this paragraph, the Chair shall provide 
                to the members of the Committee a concise 
                summary of the subject of the hearing, or, in 
                the case of a hearing on a measure or matter, a 
                copy of the measure or materials relating to 
                the matter in question and a concise 
                explanation of the measure or matter to be 
                considered. At the same time the Chair provides 
                the information required by the preceding 
                sentence, the Chair shall also provide to the 
                members of the Committee a list of the 
                witnesses expected to appear before the 
                Committee at that hearing. The witness list may 
                not be modified within 24 hours of a hearing, 
                unless the Chair, with the concurrence of the 
                ranking minority member, determines there is 
                good cause for such modification.
          (2) To the greatest extent practicable--
                  (A) each witness who is to appear before the 
                Committee shall file with the Committee two 
                business days in advance of the appearance 
                sufficient copies (including a copy in 
                electronic form), as determined by the Chair, 
                of a written statement of proposed testimony 
                and shall limit the oral presentation to the 
                Committee to brief summary thereof; and
                  (B) each witness appearing in a non-
                governmental capacity shall include with the 
                written statement of proposed testimony a 
                curriculum vitae and a disclosure of the amount 
                and source (by agency and program) of any 
                Federal grant (or subgrant thereof) or contract 
                (or subcontract thereof) received during the 
                current fiscal year or either of the two 
                preceding fiscal years. Such disclosure 
                statements, with appropriate redactions to 
                protect the privacy of the witness, shall be 
                made publicly available in electronic form not 
                later than one day after the witness appears.
          (3) The requirements of paragraph (2)(A) may be 
        modified or waived by the Chair when the Chair 
        determines it to be in the best interest of the 
        Committee.
          (4)(A) Subject to subparagraph (B), the five-minute 
        rule shall be observed in the interrogation of 
        witnesses before the Committee or any of its 
        subcommittees until each present member thereof has had 
        an opportunity to question the witnesses. No member 
        shall be recognized for a second period of five minutes 
        to interrogate witnesses until each present member of 
        the Committee or such subcommittee has been recognized 
        once for that purpose.
                  (B) The Chair may permit a specified number 
                of members to question one or more witnesses 
                for a specified period of time not to exceed 60 
                minutes in the aggregate, equally divided 
                between and controlled by the Chair and the 
                ranking minority member.
          (5) Whenever any hearing is conducted by the 
        Committee on any measure or matter, the minority party 
        members of the Committee shall be entitled, upon the 
        request of a majority of them before the completion of 
        the hearing, to call witnesses with respect to that 
        measure or matter during at least one day of hearing 
        thereon. The Chair, with the concurrence of the ranking 
        minority member, will determine the date, time, and 
        place of such hearing.
          (6) At any hearing of the Committee, opening 
        statements by members of the Committee shall be limited 
        to 10 minutes in the aggregate. The Chair shall control 
        five minutes and recognize members in the Chair's sole 
        discretion. The ranking minority member shall control 
        five minutes; the Chair shall recognize members for 
        such five minutes according to the direction of the 
        ranking minority member as communicated to the Chair.
          (7) Notwithstanding any member's oral delivery of an 
        opening statement, written opening statements by any 
        member of the Committee submitted to the Chair within 5 
        legislative days after the adjournment of a hearing 
        shall be made a part of the official hearing record 
        thereof.

                          Subpoenas and Oaths

    (e)(1) The power to authorize and issue subpoenas is 
delegated to the Chair. The Chair will provide written notice 
to the ranking minority member at least 48 hours in advance of 
the authorization and issuance of a subpoena, except when 
exigent circumstances exist that do not permit such amount of 
notice, in which case the Chair shall provide such notice as 
soon as possible.
          (2) Authorized subpoenas shall be signed by the Chair 
        or by any member designated by the Committee, and may 
        be served by any person designated by the Chair or such 
        member.
          (3) The Chair, or any member of the Committee 
        designated by the Chair, may administer oaths to 
        witnesses before the Committee.

                                 Rule 4


              Procedures for Reporting Measures or Matters

    (a) No measure or matter shall be reported from the 
Committee unless a majority of the Committee is actually 
present.
    (b) The Chair of the Committee shall report or cause to be 
reported promptly to the House any measure approved by the 
Committee and take necessary steps to bring a matter to a vote.
    (c) The report of the Committee on a measure which has been 
approved by the Committee shall be filed within seven calendar 
days (exclusive of days on which the House is not in session) 
after the day on which there has been filed with the clerk of 
the Committee a written request, signed by a majority of the 
members of the Committee, for the reporting of that measure 
pursuant to the provisions of clause 2(b)(2) of rule XIII of 
the Rules of the House.
    (d) All reports printed by the Committee pursuant to a 
legislative study or investigation and not approved by a 
majority vote of the Committee shall contain the following 
disclaimer on the cover of such report: ``This report has not 
been officially adopted by the Committee on Financial Services 
and may not necessarily reflect the views of its Members.''
    (e) The Chair is directed to offer a motion under clause 1 
of rule XXII of the Rules of the House whenever the Chair 
considers it appropriate.

                                 Rule 5


                             Subcommittees


          Establishment and Responsibilities of Subcommittees

    (a)(1) There shall be six subcommittees of the Committee as 
follows:
          (A) Subcommittee on capital markets, securities, and 
        investment.--The jurisdiction of the Subcommittee on 
        Capital Markets, Securities, and Investment includes--
                  (i) securities, exchanges, and finance;
                  (ii) capital markets activities, including 
                securitization, business capital formation, 
                securities lending, and repurchase agreements;
                  (iii) investment companies and advisers to 
                private funds;
                  (iv) activities involving accounting and 
                auditing;
                  (v) activities involving futures, forwards, 
                options, and other types of derivative 
                instruments;
                  (vi) the Securities and Exchange Commission;
                  (vii) the Financial Accounting Standards 
                Board;
                  (viii) the Municipal Securities Rulemaking 
                Board;
                  (ix) the Public Company Accounting Oversight 
                Board;
                  (x) the Securities Investor Protection 
                Corporation; and
                  (xi) self-regulatory organizations registered 
                with the Securities and Exchange Commission.
          (B) Subcommittee on financial institutions and 
        consumer credit.--The jurisdiction of the Subcommittee 
        on Financial Institutions and Consumer Credit 
        includes--
                  (i) all agencies, including the Office of the 
                Comptroller of the Currency, the Federal 
                Deposit Insurance Corporation, the Board of 
                Governors of the Federal Reserve System and the 
                Federal Reserve System, and the National Credit 
                Union Administration, which directly or 
                indirectly exercise supervisory or regulatory 
                authority in connection with, or provide 
                deposit insurance for, financial institutions, 
                and the establishment of interest rate ceilings 
                on deposits;
                  (ii) all matters related to the Bureau of 
                Consumer Financial Protection;
                  (iii) the chartering, branching, merger, 
                acquisition, consolidation, or conversion of 
                financial institutions;
                  (iv) consumer credit, including the provision 
                of consumer credit by insurance companies, and 
                further including those matters in the Consumer 
                Credit Protection Act dealing with truth in 
                lending, extortionate credit transactions, 
                restrictions on garnishments, fair credit 
                reporting and the use of credit information by 
                credit bureaus and credit providers, equal 
                credit opportunity, debt collection practices, 
                and electronic funds transfers, including 
                consumer transactions using mobile devices;
                  (v) creditor remedies and debtor defenses, 
                Federal aspects of the Uniform Consumer Credit 
                Code, credit and debit cards, and the 
                preemption of State usury laws;
                  (vi) consumer access to financial services, 
                including the Home Mortgage Disclosure Act and 
                the Community Reinvestment Act;
                  (vii) the terms and rules of disclosure of 
                financial services, including the 
                advertisement, promotion and pricing of 
                financial services, and availability of 
                government check cashing services;
                  (viii) deposit insurance; and
                  (ix) consumer access to savings accounts and 
                checking accounts in financial institutions, 
                including lifeline banking and other consumer 
                accounts.
          (C) Subcommittee on housing and insurance.--The 
        jurisdiction of the Subcommittee on Housing and 
        Insurance includes--
                  (i) insurance generally; terrorism risk 
                insurance; private mortgage insurance; 
                government sponsored insurance programs, 
                including those offering protection against 
                crime, fire, flood (and related land use 
                controls), earthquake and other natural 
                hazards; the Federal Insurance Office;
                  (ii) housing (except programs administered by 
                the Department of Veterans Affairs), including 
                mortgage and loan insurance pursuant to the 
                National Housing Act; rural housing; housing 
                and homeless assistance programs; all 
                activities of the Government National Mortgage 
                Association; secondary market organizations for 
                home mortgages, including the Federal National 
                Mortgage Association, the Federal Home Loan 
                Mortgage Corporation, and the Federal 
                Agricultural Mortgage Corporation; the Federal 
                Housing Finance Agency; the Federal Home Loan 
                Banks; housing construction and design and 
                safety standards; housing-related energy 
                conservation; housing research and 
                demonstration programs; financial and technical 
                assistance for nonprofit housing sponsors; 
                housing counseling and technical assistance; 
                regulation of the housing industry (including 
                landlord/tenant relations); and real estate 
                lending including regulation of settlement 
                procedures;
                  (iii) community development and community and 
                neighborhood planning, training and research; 
                national urban growth policies; urban/rural 
                research and technologies; and regulation of 
                interstate land sales; and,
                  (iv) the qualifications for and designation 
                of Empowerment Zones and Enterprise Communities 
                (other than matters relating to tax benefits).
          (D) Subcommittee on monetary policy and trade.--The 
        jurisdiction of the Subcommittee on Monetary Policy and 
        Trade includes--
                  (i) financial aid to all sectors and elements 
                within the economy;
                  (ii) economic growth and stabilization;
                  (iii) defense production matters as contained 
                in the Defense Production Act of 1950, as 
                amended;
                  (iv) domestic monetary policy, and agencies 
                which directly or indirectly affect domestic 
                monetary policy, including the effect of such 
                policy and other financial actions on interest 
                rates, the allocation of credit, and the 
                structure and functioning of domestic financial 
                institutions;
                  (v) coins, coinage, currency, and medals, 
                including commemorative coins and medals, proof 
                and mint sets and other special coins, the 
                Coinage Act of 1965, gold and silver, including 
                the coinage thereof (but not the par value of 
                gold), gold medals, counterfeiting, currency 
                denominations and design, the distribution of 
                coins, and the operations of the Bureau of the 
                Mint and the Bureau of Engraving and Printing;
                  (vi) development of new or alternative forms 
                of currency;
                  (vii) multilateral development lending 
                institutions, including activities of the 
                National Advisory Council on International 
                Monetary and Financial Policies as related 
                thereto, and monetary and financial 
                developments as they relate to the activities 
                and objectives of such institutions;
                  (viii) international trade, including but not 
                limited to the activities of the Export-Import 
                Bank;
                  (ix) the International Monetary Fund, its 
                permanent and temporary agencies, and all 
                matters related thereto; and
                  (x) international investment policies, both 
                as they relate to United States investments for 
                trade purposes by citizens of the United States 
                and investments made by all foreign entities in 
                the United States.
          (E) Subcommittee on terrorism and illicit finance.--
        The jurisdiction of the Subcommittee on Terrorism and 
        Illicit Finance includes--
                  (i) financial support networks of national 
                security threats, including matters related to 
                terrorist financing, money laundering, drug 
                sale proceeds, and alternative remittance 
                systems;
                  (ii) methods to detect and inhibit terrorism 
                and illicit finance, including matters related 
                to anti-money laundering and combating the 
                financing of terrorism (AML/CFT) standards, 
                asset forfeiture, and financial sanctions, as 
                well as programs related to such matters 
                administered by agencies or subunits thereof, 
                including activities of the Office of Terrorism 
                and Financial Intelligence and the Financial 
                Crimes Enforcement Network; and
                  (iii) Inter-governmental initiatives to 
                detect and inhibit terrorism and illicit 
                finance, including the Financial Action Task 
                Force.
          (F) Subcommittee on oversight and investigations.--
        The jurisdiction of the Subcommittee on Oversight and 
        Investigations includes--
                  (i) the oversight of all agencies, 
                departments, programs, and matters within the 
                jurisdiction of the Committee, including the 
                development of recommendations with regard to 
                the necessity or desirability of enacting, 
                changing, or repealing any legislation within 
                the jurisdiction of the Committee, and for 
                conducting investigations within such 
                jurisdiction; and
                  (ii) research and analysis regarding matters 
                within the jurisdiction of the Committee, 
                including the impact or probable impact of tax 
                policies affecting matters within the 
                jurisdiction of the Committee.
    (2) In addition, each such subcommittee shall have specific 
responsibility for such other measures or matters as the Chair 
refers to it.
    (3) Each subcommittee of the Committee shall review and 
study, on a continuing basis, the application, administration, 
execution, and effectiveness of those laws, or parts of laws, 
the subject matter of which is within its general 
responsibility.

           Referral of Measures and Matters to Subcommittees

    (b)(1) The Chair shall regularly refer to one or more 
subcommittees such measures and matters as the Chair deems 
appropriate given its jurisdiction and responsibilities. In 
making such a referral, the Chair may designate a subcommittee 
of primary jurisdiction and subcommittees of additional or 
sequential jurisdiction.
          (2) All other measures or matters shall be subject to 
        consideration by the full Committee.
          (3) In referring any measure or matter to a 
        subcommittee, the Chair may specify a date by which the 
        subcommittee shall report thereon to the Committee.
          (4) The Chair, in his or her sole discretion, may 
        discharge a subcommittee from consideration of any 
        measure or matter referred to a subcommittee of the 
        Committee.

                      Composition of Subcommittees

    (c)(1) Members shall be elected to each subcommittee and to 
the positions of chair and ranking minority member thereof, in 
accordance with the rules of the respective party caucuses. The 
Chair of the Committee shall designate a member of the majority 
party on each subcommittee as its vice chair. The Chair may 
designate one member of the Committee who previously has served 
as the chairman of the Committee as the Chairman Emeritus.
          (2) The Chair and ranking minority member of the 
        Committee shall be ex officio members with voting 
        privileges of each subcommittee of which they are not 
        assigned as members and may be counted for purposes of 
        establishing a quorum in such subcommittees. The 
        Chairman Emeritus shall be an ex officio member without 
        voting privileges of each subcommittee to which he or 
        she is not assigned and shall not count for purposes of 
        establishing a quorum in such subcommittees.
          (3) The subcommittees shall be comprised as follows:
                  (A) The Subcommittee on Capital Markets, 
                Securities, and Investment shall be comprised 
                of 28 members, 16 elected by the majority 
                caucus and 12 elected by the minority caucus.
                  (B) The Subcommittee on Financial 
                Institutions and Consumer Credit shall be 
                comprised of 26 members, 15 elected by the 
                majority caucus and 11 elected by the minority 
                caucus.
                  (C) The Subcommittee on Housing and Insurance 
                shall be comprised of 23 members, 13 elected by 
                the majority caucus and 10 elected by the 
                minority caucus.
                  (D) The Subcommittee on Monetary Policy and 
                Trade shall be comprised of 21 members, 12 
                elected by the majority caucus and 9 elected by 
                the minority caucus.
                  (E) The Subcommittee on Terrorism and Illicit 
                Finance shall be comprised of 25 members, 14 
                elected by the majority caucus and 11 elected 
                by the minority caucus.
                  (F) The Subcommittee on Oversight and 
                Investigations shall be comprised of 21 
                members, 12 elected by the majority caucus and 
                9 elected by the minority caucus.

                   Subcommittee Meetings and Hearings

    (d)(1) Each subcommittee of the Committee is authorized to 
meet, hold hearings, receive testimony, mark up legislation, 
and report to the full Committee on any measure or matter 
referred to it, consistent with subsection (a).
          (2) No subcommittee of the Committee may meet or hold 
        a hearing at the same time as a meeting or hearing of 
        the Committee.
          (3) The chair of each subcommittee shall set hearing 
        and meeting dates only with the approval of the Chair 
        with a view toward assuring the availability of meeting 
        rooms and avoiding simultaneous scheduling of Committee 
        and subcommittee meetings or hearings.

                          Effect of a Vacancy

    (e) Any vacancy in the membership of a subcommittee shall 
not affect the power of the remaining members to execute the 
functions of the subcommittee as long as the required quorum is 
present.

                                Records

    (f) Each subcommittee of the Committee shall provide the 
full Committee with copies of such records of votes taken in 
the subcommittee and such other records with respect to the 
subcommittee as the Chair deems necessary for the Committee to 
comply with all rules and regulations of the House.

                                 Rule 6


                                 Staff


                              In General 

    (a)(1) Except as provided in paragraph (2), the 
professional and other staff of the Committee shall be 
appointed, and may be removed by the Chair, and shall work 
under the general supervision and direction of the Chair.
          (2) All professional and other staff provided to the 
        minority party members of the Committee shall be 
        appointed, and may be removed, by the ranking minority 
        member of the Committee, and shall work under the 
        general supervision and direction of such member.
          (3) It is intended that the skills and experience of 
        all members of the Committee staff be available to all 
        members of the Committee.

                           Subcommittee Staff

    (b) From funds made available for the appointment of staff, 
the Chair of the Committee shall, pursuant to clause 6(d) of 
rule X of the Rules of the House, ensure that sufficient staff 
is made available so that each subcommittee can carry out its 
responsibilities under the rules of the Committee and that the 
minority party is treated fairly in the appointment of such 
staff.

                         Compensation of Staff

    (c)(1) Except as provided in paragraph (2), the Chair shall 
fix the compensation of all professional and other staff of the 
Committee.
          (2) The ranking minority member shall fix the 
        compensation of all professional and other staff 
        provided to the minority party members of the 
        Committee.

                                 Rule 7


                           Budget and Travel


                                 Budget

    (a)(1) The Chair, in consultation with other members of the 
Committee, shall prepare for each Congress a budget providing 
amounts for staff, necessary travel, investigation, and other 
expenses of the Committee and its subcommittees.
          (2) From the amount provided to the Committee in the 
        primary expense resolution adopted by the House of 
        Representatives, the Chair, after consultation with the 
        ranking minority member, shall designate an amount to 
        be under the direction of the ranking minority member 
        for the compensation of the minority staff, travel 
        expenses of minority members and staff, and minority 
        office expenses. All expenses of minority members and 
        staff shall be paid for out of the amount so set aside.

                                 Travel

    (b)(1) The Chair may authorize travel for any member and 
any staff member of the Committee in connection with activities 
or subject matters under the general jurisdiction of the 
Committee. Before such authorization is granted, there shall be 
submitted to the Chair in writing the following:
                  (A) The purpose of the travel.
                  (B) The dates during which the travel is to 
                occur.
                  (C) The names of the States or countries to 
                be visited and the length of time to be spent 
                in each.
                  (D) The names of members and staff of the 
                Committee for whom the authorization is sought.
          (2) Members and staff of the Committee shall make a 
        written report to the Chair on any travel they have 
        conducted under this subsection, including a 
        description of their itinerary, expenses, and 
        activities, and of pertinent information gained as a 
        result of such travel.
          (3) Members and staff of the Committee performing 
        authorized travel on official business shall be 
        governed by applicable laws, resolutions, and 
        regulations of the House and of the Committee on House 
        Administration.

                                 Rule 8


                        Committee Administration


                                Records

    (a)(1) There shall be a transcript made of each regular 
meeting and hearing of the Committee, and the transcript may be 
printed if the Chair decides it is appropriate or if a majority 
of the members of the Committee requests such printing. Any 
such transcripts shall be a substantially verbatim account of 
remarks actually made during the proceedings, subject only to 
technical, grammatical, and typographical corrections 
authorized by the person making the remarks. Nothing in this 
paragraph shall be construed to require that all such 
transcripts be subject to correction and publication.
          (2) The Committee shall keep a record of all actions 
        of the Committee and of its subcommittees. The record 
        shall contain all information required by clause 
        2(e)(1) of rule XI of the Rules of the House and shall 
        be available in electronic form and for public 
        inspection at reasonable times in the offices of the 
        Committee.
          (3) All Committee hearings, records, data, charts, 
        and files shall be kept separate and distinct from the 
        congressional office records of the Chair, shall be the 
        property of the House, and all Members of the House 
        shall have access thereto as provided in clause 2(e)(2) 
        of rule XI of the Rules of the House.
          (4) The records of the Committee at the National 
        Archives and Records Administration shall be made 
        available for public use in accordance with rule VII of 
        the Rules of the House of Representatives. The Chair 
        shall notify the ranking minority member of any 
        decision, pursuant to clause 3(b)(3) or clause 4(b) of 
        the rule, to withhold a record otherwise available, and 
        the matter shall be presented to the Committee for a 
        determination on written request of any member of the 
        Committee.

                 Committee Publications on the Internet

    (b) The Chair shall maintain an official Committee website 
for the purpose of carrying out the official responsibilities 
of the Committee, including communicating information about the 
Committee's activities. The ranking minority member may 
maintain an official website. To the maximum extent feasible, 
the Committee shall make its publications available in 
electronic form on the official Committee website maintained by 
the Chair.

      Audio and Video Coverage of Committee Hearings and Meetings

    (c)(1) To the maximum extent feasible, the Committee shall 
provide audio and video coverage of each hearing or meeting for 
the transaction of business in a manner that allows the public 
to easily listen to and view the proceedings; and,
          (2) maintain the recordings of such coverage in a 
        manner that is easily accessible to the public.

                                  [all]