Senate Republicans Announce Three New Banking Panel Members

By Jeff Bater

The Senate Banking Committee is getting three new members on the GOP side as Republicans in Congress prepare for a re-examination of Dodd-Frank.

Sens. David Perdue (R-Ga.), Thom Tillis (R-N.C.), and John Kennedy (R-La.) have been assigned to the panel, Senate Republicans said in an announcement of committee assignments for the 115th Congress. The new Banking Committee members replace Sens. Jerry Moran (R-Kan.), David Vitter (R-La.), and Mark Kirk (R-Ill.). Moran was reassigned, Vitter retired from Congress, and Kirk lost his re-election bid.

Harmful Regulations

Perdue, in a news release Jan. 3, said he will work on the committee to roll back “harmful regulations that are stifling economic growth and discouraging businesses from accessing capital and creating quality jobs.”

“We need to dismantle the regulatory regime of Dodd-Frank, encourage entrepreneurial innovation, and unleash economic growth to get Americans working again,” Perdue said.

The assignments to the Senate committees were ratified by the Senate Republican Conference. Committee chairs will be selected by a vote of the members of each respective panel and then ratified by the Senate Republican Conference. Sen. Mike Crapo is expected to become the new chairman of the Banking Committee, replacing Sen. Richard Shelby (R-Ala.).

The number of Republicans on the committee remains at 12 as the new Congress begins work. The minority ranks, however, are rising, to 11 from 10, according to committee rosters released Dec. 20 by incoming Senate Democratic Leader Charles Schumer (N.Y.). The rosters are subject to approval by all Senate Democrats.

Joining the committee from the Democratic side are Sen. Catherine Cortez Masto (Nev.); Sen. Brian Schatz (Hawaii) and Sen. Chris Van Hollen (Md.). Leaving the panel are Schumer and Sen. Jeff Merkley (D-Ore.).

To contact the reporter on this story: Jeff Bater in Washington at jbater@bna.com

To contact the editor responsible for this story: Michael Ferullo at MFerullo@bna.com

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