Committees and Caucuses
The duty of the Financial Services Committee is to oversee the entire industry of financial services. The industry includes securities, insurance, banking, and housing. In addition, the committee oversees the work done by the Federal Reserve, the treasury, the SEC, and other financial services regulators. Congressman Clay is working to ensure that the invested interests, that are inclusive of pensions, retirement plans and savings for college are protected from the financial tragedies such as the Enron and World Com.
Congressman Clay is the Ranking Member on the newly-created House Financial Services Subcommittee for Monetary Policy and Trade. This key subcommittee will have major oversight responsibilities over the Federal Reserve, the Export-Import Bank of the United States, the World Bank and the International Monetary Fund.
Congressman Clay serves as a member of the subcommittee for Housing and Insurance, a subcommittee of the House Financial Services Committee. Among the issues concerning this committee are the oversight of the Department of Housing and Urban Development and the Government National Mortgage Association.
The Oversight and Government Reform Committee is the culmination of several pre-existing committees that existed, beginning in 1816. The committee's immediate predecessor, the Committee on Government Operations, was established in 1952. The name change was intended to communicate the primary function of the committee, being to examine "the operations of Government activities at all levels with a view to determining their economy and efficiency." As one of the most instrumental committees in the House, the committee holds government-wide oversight jurisdiction and expanded legislative authority.
The Federal Workforce, U.S. Postal Service, and the Census is a subcommittee of the House Oversight and Government Reform Committee. Members of this subcommittee investigate legislative concerns regarding the federal civil service, the United States Postal Service, and the Census Bureau.