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Frank reveals Democrat committee team

Friday 21 January 2011 – by Will Henley

The names of the Democrat team charged with defending the party’s financial reform legacy in the House of Representatives have been unveiled.

The subcommittee members for the House Committee on Financial Services were unannounced by Barney Frank, the party’s ranking member on the committee, who was deposed as chairman following the mid-term elections.

The Democrat team will be charged over the next two years with defending the Dodd-Frank Act, co-authored by Frank, in the 112th Congress against a newly resurgent Republican party keen to revoke much of the legislation.

Maxine Waters of California is set to take on the Republicans on the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, while William Lacy Clay of Missouri will sit on the Subcommittee of Domestic Monetary Policy and Technology.

Carolyn Maloney of New York will lead the Democrats on the Subcommittee on Financial Institutions and Consumer Credit, while Luis Gutierrez of Illinois will take the lead on the Subcommittee on Insurance, Housing and Community Opportunity.

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Carolyn McCarthy will sit on the Subcommittee on International Monetary Policy and Trade and Michael Capuano will sit on the Subcommittee on Oversight and Investigations.

Frank’s recommendations, released on Friday, will now be forwarded to the Democratic Caucus for formal approval.

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