Murphy Appointed To Influential Financial Services Committee

WASHINGTON, D.C. — Congressman Chris Murphy (CT-5) was appointed this week to the Financial Services Committee for the 110th Congress. This committee, considered to be one of the most influential committees in the US House of Representatives, is responsible for overseeing all components of the nation’s housing, insurance, banking, and securities industries, which are all vital to Connecticut’s economic success.

In addition to the committee’s responsibility to consider legislation dealing with affordable and public housing, insurance, real estate, and banking, it also oversees the enforcement of housing and consumer protection laws, including financial privacy. The committee is chaired by Barney Frank of Massachusetts.

Congressman Christopher Shays (CT-4) also serves on the committee.

“I am thrilled to have been appointed to a committee that will allow me to help create jobs and affordable housing in the Fifth District. I especially look forward to working with Chairman Frank as he crafts legislation to increase affordable housing options which will ultimately facilitate job growth in Connecticut and across the country,” said Mr Murphy.

Mr Murphy noted that Connecticut is at the epicenter of the financial service industry, which provides thousands of jobs in the Fifth District and the state.

“The growing financial services industry is crucial to the economic success of Connecticut. Having another voice from the state on the Financial Services Committee can only benefit the Fifth District,” said Mr Murphy.

In the past, Democrats on the committee have also worked to improve data security and financial privacy for consumers, respond to housing needs in natural disasters, expand access to financial institutions to low income people, and stop predatory mortgage lending.

Mr Murphy will also serve on the Committee on Oversight and Government Reform, where he will play an important role in investigating and proposing solutions to the nation’s most pressing issues, including the management of the war in Iraq, the implementation of Medicare Part D, and the need for open government.