[Congressional Record Volume 143, Number 14 (Thursday, February 6, 1997)]
[House]
[Pages H355-H360]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




RULES OF PROCEDURE FOR THE COMMITTEE ON BANKING AND FINANCIAL SERVICES, 
                             105TH CONGRESS

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Iowa [Mr. Leach] is recognized for 5 minutes.
  Mr. LEACH. Mr. Speaker, in accordance with clause 2(a) of rule XI of 
the rules of the House, I am submitting for printing in the Record a 
copy of the rules of the Committee on Banking and Financial Services 
for the 105th Congress, adopted on February 6, 1997.

Rules of the Committee on Banking and Financial Services, One Hundredth 
                           and Fifth Congress


                       rule i. general provisions

       1. (a) The rules of the House are the rules of the 
     Committee and 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 nondebatable motions of 
     high privilege in the Committee and subcommittees. 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 of the Committee 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.
       2. The Committee shall submit to the House, not later than 
     January 2 of each odd-numbered year, a report on the 
     activities of the Committee under Rules X and XI of the Rules 
     of the House during the Congress ending at noon on January 3 
     of such year.
       3. The Committee's rules shall be published in the 
     Congressional Record not later than 30 days after the 
     Congress convenes in each odd-numbered year.


                       rule ii. powers and duties

       1. The powers and duties of the Committee are all those 
     such as are enumerated or contained in the Rules of the House 
     and the rulings and precedents of the House or the Committee.
       2. For the purpose of carrying out any of its functions and 
     duties under Rules X and XI of the Rules of the House, the 
     Committee, or any subcommittee thereof, is authorized--
       (a) to sit and act at such times and places within the 
     United States, whether the House is in session, has recessed, 
     or has adjourned, and to hold hearings; except as provided in 
     Rule XI, clause 2 of the Rules of the House;
       (b) to conduct such investigations and studies as it may 
     consider necessary or appropriate, and (subject to the 
     adoption of expense resolutions as required by clause 5 of 
     Rule XI of the Rules of the House) to incur expenses 
     (including travel expenses) in connection therewith. The 
     ranking minority Member of the full Committee or the relevant 
     subcommittee shall be notified in advance at such times as 
     any Committee funds are expended for investigations and 
     studies involving international travel; and
       (c) to require, by subpoena or otherwise (subject to clause 
     3(a)), the attendance and testimony of such witnesses and the 
     production of such books, records, correspondence, memoranda, 
     papers, and documents, in whatever form, as it deems 
     necessary. The Chairperson of the Committee, or any Member 
     designated by the Chairperson, may administer oaths to any 
     witness.

                               Subpoenas

       3. (a) A subpoena may be authorized and issued by the 
     Committee or a subcommittee under clause 2(c) in the conduct 
     of any investigation or series of investigations or 
     activities, only when authorized by a majority of the Members 
     voting, a majority being present. The power to authorize and 
     issue subpoenas under clause 2(c) may be delegated to the 
     Chairperson of the Committee pursuant to such limitations as 
     the Committee may prescribe. Authorized subpoenas shall be 
     signed by the Chairperson of the Committee or by any Member 
     designated by the Committee.
       (b) Compliance with any subpoena issued by the Committee 
     under clause 2(c) may be enforced only as authorized or 
     directed by the House.

                     Review of Continuing Programs

       4. The Committee shall, in its consideration of all bills 
     and joint resolutions of a public character within its 
     jurisdiction, insure that appropriations for continuing 
     programs and activities of the Federal government and the 
     District of Columbia government will be made annually to the 
     maximum extent feasible and consistent with the nature, 
     requirements, and objectives of the programs and activities 
     involved. For the purposes of this paragraph, a government 
     agency includes the organizational units of government listed 
     in clause 7(c) of Rule XIII of the Rules of the House.
       5. The Committee shall review, from time to time, each 
     continuing program within its jurisdiction for which 
     appropriations are not made annually in order to ascertain 
     whether such program could be modified so that appropriations 
     therefore would be made annually.

                           Budget Act Reports

       6. The Committee shall, on or before February 25 of each 
     year, submit to the Committee on the Budget--
       (a) the Committee's views and estimates with respect to all 
     matters to be set forth in the concurrent resolution on the 
     budget for the ensuing fiscal year which are within its 
     jurisdiction or functions; and
       (b) an estimate of the total amounts of new budget 
     authority, and budget outlays resulting therefrom, to be 
     provided or authorized in all bills and resolutions within 
     the Committee's jurisdiction which it intends to be effective 
     during that fiscal year.
       7. As soon as practicable after a concurrent resolution on 
     the budget for any fiscal year is agreed to, the Committee 
     (after consulting with the appropriate Committee or 
     Committees of the Senate) shall subdivide any allocations 
     made to it in the joint explanatory statement accompanying 
     the conference report on such resolution, and promptly report 
     such subdivisions to the House, in the manner provided by 
     section 302 or section 602 (in the case of fiscal years 1991 
     through 1995) of the Congressional Budget Act of 1974.
       8. Whenever the Committee is directed in a concurrent 
     resolution on the budget to determine and recommend changes 
     in laws, bills, or resolutions under the reconciliation 
     process it shall promptly make such determination and 
     recommendations, and report a reconciliation bill or 
     resolution (or both) to the House or submit such 
     recommendations to the Committee on the Budget in accordance 
     with the Congressional Budget Act of 1974.

                            Oversight Report

       9. Not later than February 15 of the first session of a 
     Congress, the Committee shall

[[Page H356]]

     meet in open session, with a quorum present, to adopt its 
     oversight plans for that Congress for submission to the 
     Committee on House Oversight and the Committee on Government 
     Reform and Oversight, in accordance with the provisions of 
     clause 2(d) of Rule X of the Rules of the House. The 
     Chairperson shall consult with the ranking minority Member on 
     the formulation of the oversight plan, and the Committee may 
     not meet to adopt the plan unless a copy of the plan has been 
     provided to all Members not less than two days in advance of 
     the Committee meeting.


                           RULE III. MEETINGS

                            Regular Meetings

       1. Regular meetings of the Committee shall be held on the 
     first Tuesday of each month while the Congress is in session, 
     and the Chairperson shall provide to each Member of the 
     Committee, as far in advance of the day of the regular 
     meeting as the circumstances make practicable, a written 
     notice to that effect. Notwithstanding the preceding 
     sentence, when the Chairperson believes that the Committee 
     will not be considering any bill or resolution before the 
     full Committee and that there is no other timely business to 
     be transacted at a regular meeting, then no Committee meeting 
     shall be held on that day. In such instances, the Chairperson 
     shall not issue the notice of the regular meeting to the 
     Members and the failure to receive such notice shall be 
     treated by the Members as a cancellation of the regular 
     meeting.

                    Additional and Special Meetings

       2. (a) The Chairperson may call and convene, as the 
     Chairperson considers necessary, additional meetings of the 
     Committee for the consideration of any bill or resolution 
     pending before the Committee or for the conduct of other 
     Committee business. The Committee shall meet for conduct of 
     other Committee business. The Committee shall meet for such 
     purpose pursuant to that call of the chair.
       (b) No bill or joint resolution shall be considered by the 
     Committee unless (i) such measure has been made available to 
     all Members at least two calendar days (three calendar days 
     when the bill or joint resolution has not been ordered 
     reported by the subcommittee of jurisdiction) prior to the 
     meeting, accompanied by a section-by-section analysis of such 
     measure; and (ii) the Chairperson has notified members of the 
     time and place of the meeting at least two calendar days 
     (three calendar days when the bill or joint resolution has 
     not been ordered reported by the subcommittee of 
     jurisdiction) before the commencement of the meeting. The 
     provisions of this paragraph may be suspended by the 
     Committee by a two-thirds vote or by the Chairperson, with 
     the concurrence of the ranking minority Member of the full 
     Committee.
       3. If at least three Members of the Committee desire that a 
     special meeting of the Committee be called by the 
     Chairperson, those Members may file in the offices of the 
     Committee their written request to the Chairperson for that 
     special meeting. Such request shall specify the measure or 
     matter to be considered. Immediately upon the filing of the 
     request, the clerk of the Committee shall notify the 
     Chairperson of the filing of the request. If, within three 
     calendar days after the filing of the request, the 
     Chairperson does not call the requested special meeting, to 
     be held within seven calendar days after the filing of the 
     request, a majority of the Members of the Committee may file 
     in the offices of the Committee their written notice that a 
     special meeting of the Committee will be held specifying the 
     date and hour thereof, and the measure or matter to be 
     considered at that special meeting. The Committee shall meet 
     on that date and hour. Immediately upon the filing of the 
     notice, the clerk of the Committee shall notify all Members 
     of the Committee that such special meeting will be held and 
     inform them of its date and hour and the measure or matter to 
     be considered; and only the measure or matter specified in 
     that notice may be considered at that special meeting.

                             Open Meetings

       4. (a) Each meeting for the transaction of business, 
     including the markup of legislation, of the Committee or each 
     subcommittee thereof, shall be open to the public including 
     to radio, television and still photography coverage, except 
     when the Committee or subcommittee, in open session and with 
     a majority present, determines by roll call vote that all or 
     part of the remainder of the meeting on that day shall be 
     closed to the public because disclosure of matters to be 
     considered would endanger national security, would compromise 
     sensitive law enforcement information, or would tend to 
     defame, degrade or incriminate any person, or otherwise 
     would violate any law or rule of the House; provided, 
     however, that no person other than Members of the 
     Committee and such congressional staff and such 
     departmental representatives as they may authorize shall 
     be present at any business or markup session which has 
     been closed to the public.
       (b) Each hearing conducted by the Committee or each 
     subcommittee thereof shall be open to the public including 
     radio, television and still photography coverage except when 
     the Committee or subcommittee, in open session and with a 
     majority present, determines by roll call vote that all or 
     part of the remainder of that hearing on that day shall be 
     closed to the public because disclosure of testimony, 
     evidence, or other matters to be considered would endanger 
     the national security or would compromise sensitive law 
     enforcement information or would violate any law or rule of 
     the House. Notwithstanding the requirements of the preceding 
     sentence, a majority of those present (there being in 
     attendance the requisite number required under the Rules of 
     the Committee to be present for the purpose of taking 
     testimony)--
       (1) may vote to close the hearing for the sole purpose of 
     discussing whether testimony or evidence to be received would 
     endanger the national security or would compromise sensitive 
     law enforcement information or violate clause 6(e) of Rule 
     IV; or
       (2) may vote to close the hearing, as provided in clause 6 
     of Rule IV.
       No Member may be excluded from nonparticipatory attendance 
     at any hearing of the Committee or a subcommittee, unless the 
     House of Representatives shall by a majority vote authorize 
     the Committee or a particular subcommittee, for purposes of a 
     particular series of hearings on a particular article of 
     legislation or on a particular subject of investigation, to 
     close its hearings to Members by the same procedures 
     designated in this paragraph for closing hearings to the 
     public; provided, however, that the Committee or subcommittee 
     may by the same procedure vote to close one subsequent day of 
     hearing.

                   Broadcasting of Committee Meetings

       5. Any meeting or hearing of the Committee or a 
     subcommittee that is open to the public shall be open to 
     coverage by television, radio, and still photography, subject 
     to the requirements and limitations of clause 3 of Rule XI of 
     the Rules of House. The coverage of any meeting or hearing of 
     the Committee or any subcommittee thereof by television, 
     radio, or still photography shall be under the direct 
     supervision of the Chairperson of the Committee, the 
     subcommittee Chairperson, or other Member of the Committee 
     presiding at such meeting. The number of television or still 
     cameras shall not be limited to fewer than two 
     representatives from each medium except for legitimate space 
     or safety considerations, in which case pool coverage shall 
     be authorized.

                         Additional Provisions

       6. Meetings and hearings of the Committee or subcommittee 
     shall be called to order and presided over by the Chairperson 
     or, in the Chairperson's absence, by the member designated by 
     the Chairperson as the Vice Chairperson of the committee or 
     subcommittee, or by the ranking majority Member of the 
     Committee or subcommittee present.
       7. No person other than a Member of Congress, Committee 
     staff, or a person from a Member's staff when that Member has 
     an amendment under consideration, may stand in or be seated 
     at the rostrum area of the Committee unless the Chairperson 
     determines otherwise.


                      rule iv. hearing procedures

       1. The Chairperson, in the case of hearings to be conducted 
     by the Committee, and the appropriate subcommittee 
     Chairperson, in the case of hearings to be conducted by a 
     subcommittee, shall make public announcement of the date, 
     place, and subject matter at least one week before the 
     commencement of that hearing. If the Chairperson, with the 
     concurrence of the ranking minority Member, determines there 
     is good cause to begin the hearing sooner, or if the 
     committee or subcommittee so determines by majority vote, a 
     quorum being present for the transaction of business, the 
     Chairperson shall make the announcement at the earliest 
     possible date. The clerk of the Committee shall promptly 
     notify all Members of the Committee; the Daily Digest; Chief 
     Clerk; Official Reporters; and the Committee scheduling 
     service of House Information Systems as soon as possible 
     after such public announcement is made.
       2. (a) Each witness who is to appear before the Committee 
     or a subcommittee shall file with the clerk of the Committee, 
     at least 24 hours in advance of his or her appearance, 200 
     copies of the proposed testimony if the appearance is before 
     the committee, or 100 copies of the proposed testimony if the 
     appearance is before a subcommittee; provided, however, that 
     this requirement may be modified or waived by the Chairperson 
     of the Committee or appropriate subcommittee, after 
     consultation with the ranking minority member, when the 
     Chairperson determines it to be in the best interest of the 
     Committee or subcommittee, and furthermore, that this 
     requirement shall not be mandatory if a witness is given less 
     than seven days notice of appearance prior to a hearing.
       (b) The Chairperson may require a witness to limit the oral 
     presentation to a summary of the statement.
       (c) Each witness 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 previous fiscal 
     years by the witness or by an entity represented by the 
     witness.
       3. Upon announcement of a hearing, the clerk and staff 
     director shall cause to be prepared a concise summary of the 
     subject matter (including legislative reports and other 
     materials) under consideration which shall be made available 
     immediately to all Members of the Committee.

[[Page H357]]

                 Calling and Interrogation of Witnesses

       4. Whenever any hearing is conducted by the Committee or 
     any subcommittee upon any measure or matter, the minority 
     party Members on the Committee shall be entitled, upon 
     request to the Chairperson by a majority of those minority 
     Members before the completion of such hearing, to call 
     witnesses selected by the minority to testify with respect to 
     that measure or matters during at least one day of hearing 
     thereon.
       5. Except when the Committee adopts a motion pursuant to 
     subdivisions (B) and (C) of clause 2(j)(2) of rule XI of the 
     rules of the House, Committee Members may question witnesses 
     only when they have been recognized by the Chairperson for 
     that purpose, and only for a 5-minute period until all 
     Members present have had an opportunity to question a 
     witness. The 5-minute period for questioning a witness by any 
     one Member can be extended only with the unanimous consent of 
     all Members present. The questioning of witnesses in both the 
     full and subcommittee hearings shall be initiated by the 
     Chairperson, followed by the ranking minority party Member 
     and all other Members alternating between the majority and 
     minority. In recognizing Members to question witnesses in 
     this fashion, the Chairperson shall take into consideration 
     the ratio of the majority to minority Members present and 
     shall establish the order of recognition for questioning in 
     such a manner as not to disadvantage the Members of the 
     majority.

                    Investigative Hearing Procedures

       6. The following additional rules shall apply to 
     investigative hearings:
       (a) The Chairperson, at any investigative hearing, shall 
     announce in an opening statement the subject of the 
     investigation.
       (b) A copy of the Committee rules and Rule XI, clause 2 of 
     the Rules of the House shall be made available to each 
     witness.
       (c) Witnesses at investigative hearings may be accompanied 
     by their own counsel for the purpose of advising them 
     concerning their constitutional rights.
       (d) The Chairperson may punish breaches of order and 
     decorum, and of professional ethics on the part of counsel, 
     by censure and exclusion from the hearings; and the Committee 
     may cite the offender to the House for contempt.
       (e) Whenever it is asserted that the evidence or testimony 
     at an investigative hearing may tend to defame, degrade, or 
     incriminate any person,
       (i) such testimony or evidence shall be presented in 
     executive session, notwithstanding the provisions of clause 
     4(b) of Rule III, if by a majority of those present, there 
     being in attendance the requisite number required under the 
     Rules of the Committee to be present for the purpose of 
     taking testimony, the Committee determines that such evidence 
     or testimony may tend to defame, degrade, or incriminate any 
     person; and
       (ii) the Committee shall proceed to receive such testimony 
     in open session only if a majority of the Members of the 
     Committee, a majority being present, determine that such 
     evidence or testimony will not tend to defame, degrade, or 
     incriminate any person.
       In either case the Committee shall afford such person an 
     opportunity voluntarily to appear as a witness; and receive 
     and dispose of requests from such person to subpoena 
     additional witnesses.
       (f) Except as provided in paragraph (e), the Chairperson 
     shall receive and the Committee shall dispose of requests to 
     subpoena additional witnesses.
       (g) No evidence or testimony taken in executive session may 
     be released or used in public session without the consent of 
     the Committee.
       (h) In the discretion of the Committee, witnesses may 
     submit brief and pertinent sworn statements in writing for 
     inclusion in the record. The Committee is the sole judge of 
     the pertinency of testimony and evidence adduced at its 
     hearing.
       (i) A witness may obtain a transcript copy of his or her 
     testimony given at a public session, or, if given at an 
     executive session, when authorized by the Committee.


               rule v. reporting of bills and resolutions

       1. (a) It shall be the duty of the Chairperson of the 
     Committee to report or cause to be reported promptly to the 
     House any measure approved by the Committee and to take or 
     cause to be taken necessary steps to bring the matter to a 
     vote.
       (b) In any event, 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. Upon the filing of any such 
     request, the clerk of the Committee shall transmit 
     immediately to the Chairperson of the Committee notice of the 
     filing of that request.
       2. No measure or recommendation shall be reported from the 
     Committee  unless the quorum requirement of clause 1(a) of 
     Rule VI is satisfied.

                           Committee Reports

       3. The report of the Committee on a measure which has been 
     approved by the Committee shall include--
       (a) a cover page, which must show that supplemental, 
     minority and additional views (if any), the estimate and 
     comparison prepared by the Director of the Congressional 
     Budget Office, and the recommendations of the Committee on 
     Government Reform and Oversight (whenever submitted), are 
     included in the report;
       (b) the amendments adopted by the Committee;
       (c) a section-by-section analysis of the bill as reported, 
     whenever possible;
       (d) an explanation of the legislation, if the Chairperson 
     decides one is necessary;
       (e) with respect to each roll call vote on a motion to 
     report any measure, and on any amendment offered to the 
     measure, the total number of votes cast for and against, or 
     present not voting and the names of those Members voting for 
     and against, or present not voting;
       (f) the oversight findings and recommendations required 
     pursuant to clause 2(b)(1) of Rule X of the Rules of the 
     House separately set out and clearly identified;
       (g) the statement required by section 308(a)(1) of the 
     Congressional Budget Act of 1974, separately set out and 
     clearly identified, if the measure provides new budget 
     authority, new spending authority described in section 
     401(c)(2) of such Act, new credit authority, or an increase 
     or decrease in revenues or tax expenditures, except that the 
     estimates with respect to new budget authority shall include, 
     when practicable, a comparison of the total estimated funding 
     level for the program (or programs) to the appropriate levels 
     under current law;
       (h) the estimate and comparison prepared by the Director of 
     the Congressional Budget Office under section 403 of such 
     Act, separately set out and clearly identified, whenever the 
     Director (if timely submitted prior to the filing of the 
     report) has submitted such estimate and comparison to the 
     Committee;
       (i) a summary of the oversight findings and recommendations 
     made by the Committee on Government Reform and Oversight 
     under clause 4(c)(2) of Rule X of the Rules of the House 
     separately set out and clearly identified whenever such 
     findings and recommendations have been submitted to the 
     Committee in a timely fashion to allow an opportunity to 
     consider such findings and recommendations during the 
     Committee's deliberations on the measure;
       (j) for a bill or joint resolution of a public character 
     reported by the Committee, a statement citing the specific 
     powers granted to the Congress in the Constitution to enact 
     the law proposed by the bill or joint resolution;
       (k) a statement in accordance with section 5(b) of the 
     Federal Advisory Committee Act;
       (l) any supplemental, minority, or additional views, if 
     submitted in accordance with clause 5;
       (m) the Ramseyer document required under clause 3 of Rule 
     XIII of the Rules of the House; and
       (n) the estimate and comparison of costs incurred in 
     carrying out the bill or resolution, as may be required by 
     clause 7 of Rule XIII of the Rules of the House.
       4. The report of the Committee, when filed with the House, 
     shall be accompanied by three copies of the bill or 
     resolution as introduced and one copy of the bill or 
     resolution as amended.
       5. (a) If, at the time of approval of any measure or matter 
     by the Committee, any Member of the Committee gives notice of 
     intention to file supplemental, minority, or additional 
     views, that Member shall be entitled to not less than two 
     calendar days (excluding Saturdays, Sundays, and legal 
     holidays except when the House is in session on such day) in 
     which to file such views, in writing and signed by that 
     Member, with the clerk of the Committee. All such views so 
     filed by one or more Members of the Committee shall be 
     included within, and shall be part of, the report filed by 
     the Committee with respect to that measure or matter. When 
     time guaranteed by this subparagraph has expired (or if 
     sooner, when all separate views have been received), the 
     Committee may arrange to file its report with the Clerk not 
     later than one hour after the expiration of such time. No 
     report shall be filed until the Chairperson has notified, 
     with opportunity for discussion, the ranking minority Member 
     of the Committee and the Chairperson of the subcommittee from 
     which the legislation emanated or would have emanated. The 
     report of the Committee upon that measure or matter shall be 
     printed in a single volume which--
       (i) shall include all supplemental, minority, or additional 
     views which have been submitted by the time of the filing of 
     the report, and
       (ii) shall bear upon its cover a recital that any such 
     supplemental, minority, or additional views and any material 
     submitted under paragraphs (h) and (i) of clause 3 are 
     included as part of the report.
       (b) This clause does not preclude--
       (i) the immediate filing or printing of a Committee report 
     unless timely request for the opportunity to file 
     supplemental, minority, or additional views has been made as 
     provided in paragraph (a); or
       (ii) the filing by the Committee of any supplemental report 
     upon any measure or matter which may be required for the 
     correction of any technical error or omission in a previous 
     report made by the Committee upon that measure or matter.
       (c) After an adjournment of the last regular session of 
     Congress sine die, an investigative or oversight report 
     approved by the Committee may be filed with the Clerk at any 
     time, provided that if a Member gives notice at the time of 
     approval of intention to file supplemental, minority, or 
     additional views, that Member shall be entitled to not

[[Page H358]]

     less than seven calendar days in which to submit such views 
     for inclusion with the report.
       After an adjournment of the last regular session of a 
     Congress sine die, the Chair of the Committee may file at any 
     time with the Clerk the Committee's activity report for 
     that Congress pursuant to clause 1(d)(1) of rule XI of the 
     Rules of the House without the approval of the Committee, 
     provided that a copy of the report has been available to 
     each Member of the Committee for at least seven calendar 
     days and the report includes any supplemental, minority, 
     or additional views submitted by a Member of the 
     Committee.

                             Hearing Prints

       6. If hearings have been held on any such measure or matter 
     so reported, the Committee shall make every reasonable effort 
     to have such hearings printed and available for distribution 
     to the Members of the House prior to the consideration of 
     such measure or matter in the House except as otherwise 
     provided in clause 2(l)(6) of Rule XI of the Rules of the 
     House.


                            rule vi. quorums

       1. (a) A quorum, for the purpose of reporting any bill or 
     resolution, of authorizing a subpoena, or 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) shall consist of a majority of the Committee actually 
     present.
       (b) A quorum, for the purpose of taking any action other 
     than those specified in clause 1(a) shall consist of one-
     third of the Members of the Committee.
       (c) A quorum, for the purpose of taking testimony and 
     receiving evidence, shall consist of any two Members of the 
     Committee.

                                Proxies

       2. No vote by any Member of the Committee or any of its 
     subcommittees with respect to any measure may be cast by 
     proxy.


                 rule vii. subcommittees--jurisdiction

       1. There shall be in the Committee on Banking and Financial 
     Services the following standing subcommittees: Subcommittee 
     on Housing and Community Opportunity; Subcommittee on 
     Financial Institutions and Consumer Credit; Subcommittee on 
     Domestic and International Monetary Policy; Subcommittee on 
     Capital Markets, Securities and Government Sponsored 
     Enterprises; and Subcommittee on General Oversight and 
     Investigations; each of which shall have the jurisdiction and 
     related functions assigned to it by this rule. 
     Subcommittee jurisdictions are as follows:

           Subcommittee on Housing and Community Opportunity

       (a) The jurisdiction of the Subcommittee on Housing and 
     Community Opportunity extends to and includes:
       (i) all matters relating to 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; private mortgage insurance; 
     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); real estate lending 
     including regulation of settlement procedures;
       (ii) matters relating to 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;
       (iii) all matters relating to all government sponsored 
     insurance programs, including those offering protection 
     against crime, fire, flood (and related land use controls), 
     earthquake and other natural hazards; and
       (iv) the qualifications for and designation of Empowerment 
     Zones and Enterprise Communities (other than matters relating 
     to tax benefits).

       Subcommittee on Financial Institutions and Consumer Credit

       (b) The jurisdiction of the Subcommittee on Financial 
     Institutions and Consumer Credit extends to and includes:
       (i) all agencies 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 auxiliary matters affecting or arising in 
     connection with the supervisory and regulatory activities of 
     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, the 
     Office of Thrift Supervision, and the National Credit Union 
     Administration, together with those activities and operations 
     of any other agency or department which relate to both 
     domestic or foreign financial institutions;
       (iii) With respect to financial institutions and the 
     departments and agencies which regulate or supervise them, 
     all activities relating to and arising in connection with the 
     matters of chartering, branching, mergers, acquisitions, 
     consolidations, and conversions;
       (iv) with respect to financial institutions and the 
     agencies which regulate them, all activities relating to and 
     arising in connection with the sale or underwriting of 
     insurance and other noninsured instruments by financial 
     institutions and their affiliates other than securities;
       (v) all matters relating to 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;
       (vi) creditor remedies and debtor defenses, Federal aspects 
     of the Uniform Consumer Credit Code, credit and debit cards 
     and the preemption of State usury laws;
       (vii) all matters relating to consumer access to financial 
     services, including the Home Mortgage Disclosure Act and the 
     Community Reinvestment Act;
       (viii) 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;
       (ix) issues relating to consumer access to savings accounts 
     and checking accounts in financial institutions, including 
     lifeline banking and other consumer accounts; and
       (x) all matters relating to the business of insurance, 
     other than government sponsored insurance programs.

       Subcommittee on Domestic and International Monetary Policy

       (c) The jurisdiction of the Subcommittee on Domestic and 
     International Monetary Policy extends to and includes:
       (i) all matters relating to all 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;
       (ii) all matters within the jurisdiction of the Committee 
     relating to international trade, including but not limited to 
     the activities of the Export-Import Bank;
       (iii) the International Monetary Fund, its permanent and 
     temporary agencies, and all matters related thereto;
       (iv) 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;
       (v) all matters relating to financial aid to all sectors 
     and elements within the economy, all matters relating to 
     economic growth and stabilization, and all defense production 
     matters as contained in the Defense Production Act of 1950, 
     as amended, and all related matters thereto;
       (vi) all matters relating to 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 and 
     foreign financial institutions;
       (vii) all matters relating to 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 coinage thereof (but not the par 
     value of gold), gold medals, counterfeiting, currency 
     denominations and design, the distribution of coins, and the 
     operations and activities of the Bureau of the Mint and the 
     Bureau of Engraving and Printing; provided, however, that the 
     Subcommittee shall not schedule a hearing on any 
     commemorative medal or commemorative coin legislation unless 
     the legislation is cosponsored by at least two-thirds of the 
     Members of the House and has been recommended by the U.S. 
     Mint's Citizens Commemorative Coin Advisory Committee in the 
     case of a commemorative coin. The Subcommittee shall not 
     report a bill or measure authorizing commemorative coins 
     which does not conform with the mintage restrictions under 31 
     USC 5112. In considering legislation authorizing 
     Congressional gold medals, the subcommittee shall apply the 
     following standards:
       (A) the recipient shall be a natural person;
       (B) the recipient shall have performed an achievement that 
     has an impact on American history and culture that is likely 
     to be recognized as a major achievement in the recipient's 
     field long after the achievement;
       (C) the recipient shall not have received a medal 
     previously for the same or substantially the same 
     achievement;
       (D) the recipient shall be living or, if deceased, shall 
     have been deceased for not less than five years and not more 
     than 25 years; and
       (E) the achievements were performed in the recipient's 
     field of endeavor, and represent either a lifetime of 
     continuous superior achievements or a single achievement so 
     significant that the recipient is recognized and acclaimed by 
     others in the same field, as evidenced by the recipient 
     having received the highest honors in the field.

 Subcommittee on Capital Markets, Securities and Government Sponsored 
                              Enterprises

       (d) The jurisdiction of the Subcommittee on Capital 
     Markets, Securities and Government Sponsored Enterprises 
     extends to and includes:
       (i) all matters relating to depository institution 
     securities activities, including the activities of any 
     affiliates, except for functional regulation under applicable 
     securities laws not involving safety and soundness;

[[Page H359]]

       (ii) all matters related to bank capital markets 
     activities;
       (iii) all matters related to the activities of financial 
     institutions in financial markets involving futures, 
     forwards, options and other types of derivative instruments;
       (iv) all matters relating to secondary market organizations 
     for home mortgages including the Federal National Mortgage 
     Association and the Federal Home Loan Mortgage Corporation, 
     and the Federal Agricultural Mortgage Corporation;
       (v) all matters related to the Office of Federal Housing 
     Enterprise Oversight; and
       (vi) all matters related to the Federal Housing Finance 
     Board and the supervision and operation of the Federal Home 
     Loan Banks.

          Subcommittee on General Oversight and Investigations

       (e) The Subcommittee on General Oversight and 
     Investigations shall have the responsibility of reviewing and 
     studying, on a continuing basis:
       (i) the application, administration, execution, and 
     effectiveness of the laws within the jurisdiction of the 
     Committee, and the organization and operation of the Federal 
     agencies and entities which have responsibility for the 
     administration and execution thereof, in order to determine 
     whether such laws and the programs thereunder are being 
     implemented and carried out in accordance with the intent of 
     the Congress and whether such programs should be continued, 
     curtailed, or eliminated;
       (ii) any conditions or circumstances which may indicate the 
     necessity or desirability of enacting new or additional 
     legislation within the jurisdiction of the Committee (whether 
     or not any bill or resolution has been introduced with 
     respect thereto), and present any such recommendations as 
     deemed necessary to the appropriate subcommittee(s) of the 
     Committee;
       (iii) forecasting and future oriented research on matters 
     within the jurisdiction of the Committee, and shall study all 
     reports, documents and data pertinent to the jurisdiction of 
     the Committee and make the necessary recommendations or 
     reports thereon to the appropriate subcommittee(s) of the 
     Committee; and
       (iv) the impact or probable impact of tax policies 
     affecting subjects within the jurisdiction of the Committee; 
     provided, however, that the operations of the Subcommittee on 
     General Oversight and Investigations shall in no way limit 
     the responsibility of the other subcommittees of the 
     Committee on Banking and Financial Services from carrying out 
     their oversight duties.

                 Subcommittees--Referral of Legislation

       2. Each bill, resolution, investigation, or other matter 
     which relates to a subject listed under the jurisdiction of 
     any subcommittee named in this rule referred to or initiated 
     by the full Committee shall on a bimonthly basis be referred 
     by the Chairperson to the subcommittees of appropriate 
     jurisdiction or retained at the full Committee for 
     its consideration unless, by majority vote of the Majority 
     Members of the full Committee, the referral or 
     consideration is to be otherwise. Referral under this 
     clause shall not be effective until each subcommittee 
     Chairperson is notified of the Chairperson's referral 
     decision. A bill, resolution, or other matter referred to 
     a subcommittee in accordance with this clause may be 
     recalled therefrom at any time for the Committee's direct 
     consideration or for reference to another subcommittee by 
     a majority vote of the Majority Members of the full 
     Committee, or by the Chairperson (unless provided 
     otherwise by a majority vote of the Majority Members of 
     the full Committee).
       3. In carrying out this rule with respect to any matter, 
     the Chairperson shall designate a subcommittee of primary 
     jurisdiction; but also may refer the matter to one or more 
     additional subcommittees, for consideration in sequence 
     (subject to appropriate time limitations), either on its 
     initial referral or after the matter has been reported by the 
     subcommittee of primary jurisdiction; or may refer portions 
     of the matter to one or more additional subcommittees 
     (reflecting different subjects and jurisdictions) for the 
     consideration only of designated portions; or may refer the 
     matter to a special ad hoc subcommittee appointed by the 
     Chairperson with the approval of the Committee (with members 
     from the subcommittee having jurisdiction) for the specific 
     purpose of considering that matter and reporting to the 
     Committee thereon; or may make such other provisions as may 
     be considered appropriate.


              rule viii. subcommittees--powers and duties

       1. Each subcommittee is authorized to meet, hold hearings, 
     receive evidence, and report to the full Committee on all 
     matters referred to it or under its jurisdiction. 
     Subcommittee Chairpersons shall set dates for hearings and 
     meetings of their respective subcommittees after consultation 
     with the Chairperson and other subcommittee Chairpersons and 
     with a view toward avoiding simultaneous scheduling of full 
     Committee and subcommittee meetings or hearings whenever 
     possible.
       2. Whenever a subcommittee has ordered a bill, resolution, 
     or other matter to be reported to the Committee, the 
     Chairperson of the subcommittee reporting the bill, 
     resolution, or matter to the full Committee, or any Member 
     authorized by the subcommittee to do so, may report such 
     bill, resolution, or matter to the Committee. It shall be the 
     duty of the Chairperson of the subcommittee to report or 
     cause to be reported promptly such bill, resolution, or 
     matter, and to take steps or cause to be taken the necessary 
     steps to bring such bill, resolution, or matter to a vote.
       3. No bill or joint resolution approved by a subcommittee 
     shall be considered by the Committee unless such measure, as 
     approved, has been made available to all Members at least two 
     calendar days prior to the meeting, accompanied by a 
     section-by-section analysis of such measure.
       The provisions of this paragraph may be suspended by the 
     Committee by a two-thirds vote or by the Chairperson, with 
     the concurrence of the ranking minority Member of the full 
     Committee.
       4. All Committee or subcommittee reports printed pursuant 
     to a legislative study or investigation and not approved by a 
     majority vote of the Committee or subcommittee, as 
     appropriate, shall contain the following disclaimer on the 
     cover of such report: ``This report has not been officially 
     adopted by the Committee on Banking and Financial Services 
     (or pertinent subcommittee thereof) and may not therefore 
     necessarily reflect the views of its Members.''
       5. Bills, resolutions, or other matters favorably reported 
     by a subcommittee shall automatically be placed on the agenda 
     of the Committee as of the time they are reported and shall 
     be considered by the full Committee in the order in which 
     they were reported unless the Chairperson after consultation 
     with the ranking minority Member and appropriate subcommittee 
     Chairperson, otherwise directs; provided, however, that no 
     bill reported by a subcommittee shall be considered by the 
     full Committee unless each Member has been provided with 
     reasonable time prior to the meeting to analyze such bill, 
     together with a comparison with present law and a section-by-
     section analysis of the proposed change.
       6. No bill or joint resolution may be considered by a 
     subcommittee unless such measure has been made available to 
     all Members at least two calendar days prior to the meeting, 
     accompanied by a section-by-section analysis of such measure. 
     The provisions of this paragraph may be waived following 
     consultation with the appropriate ranking minority Member.
       7. The Chairperson and ranking minority Member of the 
     Committee shall be ex officio, non-voting members of each 
     subcommittee of the Committee.


                rule ix. subcommittees--size and ratios

       1. To the extent that the number of subcommittees and their 
     party ratios permit, the size of all subcommittees shall be 
     established so that the majority party Members of the 
     Committee have an equal number of subcommittee assignments; 
     provided, however, that a majority Member may waive his or 
     her right to an equal number of subcommittee assignments on 
     the Committee.
       2. The following shall be the sizes and ratios for 
     subcommittees:
       (a) Subcommittee on Housing and Community Opportunity: 
     Total 24--Majority 13, Minority 11.
       (b) Subcommittee on Financial Institutions and Consumer 
     Credit: Total 24--Majority 13, Minority 11.
       (c) Subcommittee on Domestic and International Monetary 
     Policy: Total 22--Majority 12, Minority 10.
       (d) Subcommittee on Capital Markets, Securities and 
     Government Sponsored Enterprises: Total 22--Majority 12, 
     Minority 10.
       (e) Subcommittee on General Oversight and Investigations; 
     Total 10--Majority 6, Minority 4.


                        rule x. budget and staff

       1. The Chairperson, in consultation with other Members of 
     the Committee, shall prepare for each Congress a budget 
     providing amounts for staff, necessary travel, investigations 
     and other expenses of the Committee and its subcommittees and 
     shall present same to the Committee.
       2. (a) Except as provided in paragraph (b), the 
     professional and investigative staff of the Committee shall 
     be appointed, and may be removed, by the Chairperson and 
     shall work under the general supervision, and direction of 
     the Chairperson.
       (b) All professional and investigative 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. (a) From funds made available for the appointment of 
     staff, the Chairperson of the Committee shall, pursuant to 
     clause 5(d) of Rule XI of the Rules of the House ensure that 
     sufficient staff is made available to each subcommittee to 
     carry out its responsibilities under the rules of the 
     Committee, and, after consultation with the ranking minority 
     Member of the Committee, that the minority party of the 
     Committee is treated fairly in the appointment of such staff.
       (b) Except as provided in paragraph (c), the Chairperson 
     shall fix the compensation of all professional and 
     investigative staff of the Committee.
       (c) The ranking minority Member shall fix the compensation 
     of all professional and investigative staff provided to the 
     minority party Members of the Committee.
       4. From the amount provided to the Committee in the primary 
     expense resolution adopted by the House of Representatives, 
     the Chairperson, after consultation with the ranking minority 
     Member, shall designate

[[Page H360]]

     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.
       5. It is intended that the skills and experience of all 
     members of the Committee staff be available to all Members of 
     the Committee.


                            rule xi. travel

       1. All 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 must be 
     authorized by the Chairperson. Before such authorization is 
     granted, there shall be submitted to the Chairperson 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; and
       (d) the names of Members and staff of the Committee for 
     whom the authorization is sought.
       2. In the case of travel outside the United States of 
     Members and staff of the Committee, such Members or staff 
     shall submit a written report to the Chairperson on any such 
     travel including a description of their itinerary, expenses, 
     activities, and 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 Oversight.


                           rule xii. records

       1. There shall be kept in writing a record of the 
     proceedings of the Committee and of each subcommittee, 
     including a record of the votes on any question on which a 
     roll call is demanded. The result of each such roll call vote 
     shall be made available by the Committee for inspection by 
     the public at reasonable times in the offices of the 
     Committee. Information so available for public inspection 
     shall include a description of the amendment, motion, order 
     or other proposition and the name of each Member voting for 
     and each Member voting against such amendment, motion, order, 
     or proposition, and the names of those Members absent or 
     present but not voting. A record vote may be demanded by any 
     one Member of the Committee or subcommittee.
       2. Access by any Member, officer or employee of the 
     Committee to any information classified under established 
     national security procedures shall be conducted in accordance 
     with clause 13 of Rule XLIII of the Rules of the House.
       3. The transcript of any meeting or hearing 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 involved.
       4. All Committee hearings, records, data, charts, and files 
     shall be kept separate and distinct from the congressional 
     office records of the Member serving as Chairperson of the 
     Committee; and such records shall be the property of the 
     House and all Members of the House shall have access thereto.
       5. The records of the Committee at the National Archives 
     and Records Administration shall be made available for public 
     use in accordance with Rule XXXVI of the Rules of the House. 
     The Chairperson shall notify the ranking minority Member of 
     any decision, pursuant to clause 3(b)(3) or clause 4(b) of 
     that rule, to withhold a record otherwise available, and the 
     matter shall be presented to the Committee for a 
     determination on the written request of any Member of the 
     Committee.
       6. To the maximum extent feasible, the Committee shall make 
     its publications available in electronic form.

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