Foster Joins Two Financial Services Subcommittees

Press Release

Foster Joins Two Financial Services Subcommittees

In his continued effort to work on behalf of families and small businesses in the 14th District, Rep. Bill Foster (IL-14) today was named to two subcommittees within the House Financial Services Committee.

"By joining these two subcommittees I will be able to immediately further my work on attempting to solve the largest economic challenges facing the people of the 14th District," Foster said. "Citizens from St. Charles to Shabbona and Prophetstown to Plano are hurting in a range of ways from the credit crunch and predatory lending, to the foreclosure crisis and jobs being shipped overseas. The time to act and solve these problems is now. My new appointment will better equip me to help bring relief."

Starting today, Rep. Foster will be assigned to join the Financial Institutions and Consumer Credit subcommittee. He will also join the Domestic and International Monetary Policy, Trade and Technology subcommittee. Each committee has jurisdiction over issues that impact constituents in Illinois' 14th District.

"I look forward to attacking the financial problems that challenge our economy, like making sure the banking system works for the families and small business of the 14th District. At the same time, we must also make sure that we work to improve the standing of the dollar so we can help create new jobs in the district as a result of competing and winning in the global marketplace," Foster said.

Domestic and International Monetary Policy, Trade and Technology
The subcommittee oversees all financial regulators, such as the Federal Deposit Insurance Corporation and the Federal Reserve, all matters pertaining to consumer credit including the Consumer Credit Protection Act and access to financial services, as well as the safety and soundness of the banking system.

Financial Institutions and Consumer Credit
The subcommittee's jurisdiction includes domestic monetary policy, and agencies which directly or indirectly affect domestic monetary policy, multilateral development lending institutions such as the World Bank, coins and currency including operations of the Bureau of the Mint and the Bureau of Engraving and Printing, and international trade and finance including all matters pertaining to the International Monetary Fund and the Export-Import Bank.

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