FOR IMMEDIATE RELEASE: February 8, 2013
Contact: E.R. Anderson 202-224-8609
or Bill Rivers 202-228-6837
SEN. TOOMEY NAMED TOP REPUBLICAN ON BANKING SUBCOMMITTEE
WASHINGTON, D.C. – U.S. Senator Pat Toomey (R-Pa.) will be the lead Republican on a
prestigious subcommittee of the Committee on Banking, Housing, and Urban Affairs.
Sen. Toomey will be the ranking member, or top Republican, on the Subcommittee on
Financial Institutions and Consumer Protection. This subcommittee oversees banks
and other financial institutions and is responsible for the regulatory agencies that
can affect those institutions including the Financial Stability Oversight Council,
Federal Reserve, the Comptroller of the Currency, the Federal Deposit Insurance
Corporation, and the Consumer Financial Protection Bureau.
From this position, Sen. Toomey can help influence the stability of the financial
system and help American families and consumers thrive in a growing economy.
Subcommittee hearings and legislation often concentrate on regulatory relief
particularly for small banks, the safety and soundness of the banking system, and
adequate capital requirements.
"As the Republican leader on the Financial Institution Subcommittee, I will work to
enhance the soundness of the financial services system, limit taxpayer exposure to
bailouts, and eliminate unneeded rules that don’t make sense — particularly for
community banks," said Sen. Toomey. "I look forward to working with Chairman Sherrod
Brown (D-Ohio) to find initiatives that enhance our financial services system and
the American economy."
"I thank Sen. Toomey for taking this leadership role on the Subcommittee on
Financial Institutions and Consumer Protection," said Sen. Mike Crapo (R-Idaho),
ranking Republican on the Banking Committee. "This subcommittee covers a broad range
of issues that will affect every American, and I appreciate his willingness to
accept this challenge. Sen. Toomey’s vast knowledge and commonsense approach will
help this subcommittee develop sensible reforms to make our financial system safer
and our economy stronger."
"Sen. Toomey will bring industry experience and new insight to the Financial
Institutions and Consumer Protection Subcommittee," said Sen. Sherrod Brown,
chairman of the Senate subcommittee. "I’ve been pleased to work with him on
insurance and other financial industries that are important to our neighboring
states, and look forward to continuing to work with him to advance the
Subcommittee’s important mission of protecting consumers and ensuring a sound
Senator Pat Toomey
502 Hart Senate Office Building
Washington, D.C. 20510