WASHINGTON D.C. — New Mexico Congressman Steve Pearce announced Wednesday that he will serve on two key subcommittees within the House Committee on Financial Services: the Subcommittee on Domestic and International Monetary Policy, and the Subcommittee on Financial Institutions and Consumer Credit.
“Through these subcommittees,” said Pearce, “I will continue working to make sure New Mexicans have a voice in the financial issues that affect them every day—from the printing of money that is devaluing our hard-earned savings, to banking and trade issues that impact our local jobs and economies. I will hold regulators accountable, and make sure that financial regulations and legislation are carried out with New Mexico’s middle-class in mind.”
The Subcommittee on Domestic and International Monetary Policy oversees monetary policy, including the Federal Reserve, and handles international finance issues.
The Subcommittee on Financial Institutions and Consumer Credit oversees financial regulators, and deals with consumer credit issues that affect everyday banking, such as home mortgages, lending, and the FDIC. The subcommittee is also now responsible for transactions using mobile devices—a rapidly growing segment that is gaining importance in American banking and commerce.