Senator Tim Scott Named Chairman of Subcommittee on Financial Institutions

WASHINGTON – U.S. Senator Tim Scott (R–SC) has been named Chairman of the Senate Banking Financial Institutions and Consumer Protection subcommittee. The subcommittee has jurisdiction over:

• Banks, savings associations, credit unions, and other financial institutions
• Deposit Insurance
• Federal Home Loan Bank System
• Regulatory activities of the Federal Reserve System
• OCC, FDIC, NCUA
• E-commerce
• Consumer Financial Protection Bureau

“I am excited to be appointed as the Chairman of the Financial Institutions and Consumer Protection subcommittee. We have seen that increasing access to the financial system for underbanked and credit invisible families positively grows access to opportunity. I look forward to continuing efforts toward helping low-income and disadvantaged Americans achieve success through access to credit.”

Senator Scott is also a member of the Senate Banking subcommittees on Securities, Insurance, and Investment, and National Security and International Trade and Finance.

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