Barr lands on Financial Services Committee; Says appointment will allow him to work on Kentucky job crisis

12/13/2012 10:14 AM

U.S. Rep.-Elect Andy Barr got his first committee assignment with the House Committee on Financial Services, which has jurisdiction over the institutions that comprise nation’s economic underpinnings.

The House Financial Services Committee handles issues regarding the banking system, housing and insurance industries and securities and exchanges according to the panel’s website. The Committee also has jurisdiction over monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing.

“Serving on the Financial Services Committee will enable me to immediately go to work on solving Kentucky’s jobs crisis,” Barr said in a press release.

“Over-regulation continues to impair the ability of Kentucky’s community banks to provide desperately needed loans to individuals and small businesses. Instead of addressing the systemic risk posed by “too big to fail” institutions, the federal government has unfairly targeted community banks as part of the problem, when they are instead part of the solution. We must return to the day when a local banker and a small businessperson could meet face-to-face and arrange a loan based on trust and accountability.”

The committee lists agencies under oversight by the Committee and they include: the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank.

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