Rep. MacArthur Named to Financial Services Committee

WASHINGTON, Jan. 5 -- Rep. Tom MacArthur, R-N.J. (3rd CD), issued the following news release:

Congressman MacArthur today announced that he has been named to the House Financial Services Committee in the 115th session of the U.S. House of Representatives. The House Financial Services Committee has jurisdiction over issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges. Additionally, the Committee has jurisdiction over monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing.

The Committee oversees the Nation's economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation's capital markets. The Committee also oversees the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program (NFIP).

"I am grateful to be given the opportunity to represent South Jersey on the House Financial Services Committee," said Congressman MacArthur. "Whether it's buying a car, your first home, starting a business or investing in the future, Financial Services touches some of the largest financial decisions and milestones in all of our lives. In particular, I am anxious to begin work to reform the National Flood Insurance Program to give all Jersey shore residents certainty in the future."

"Tom's distinguished career in the insurance industry and vast knowledge on the issues before our committee make him a welcome addition to our roster," said House Financial Services Committee Chairman Jeb Hensarling. "Tom's personal story of financial risk, development and investment in his business will serve him well as we work to create opportunity for hardworking taxpayers."

Agencies under oversight by the Committee 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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