The controversial Rep. Alexandria Ocasio-Cortez [D-N.Y.] is likely to be appointed to the House Financial Services Committee for the next Congressional session, according to a published report.
The House Financial Services Committee covers a wide array of oversight and investigatory powers over the financial services industry, including the credit and collection markets. Among the regulatory and cabinet agencies that the committee has purview over include the Consumer Financial Protection Bureau, the Federal Reserve Board, and the Treasury Department. The new chairperson of the committee is Rep Maxine Waters [D-Calif.], who has indicated she will seek to “undo some of the harm” that the CFPB has caused since Richard Cordray resigned as director in November 2017.
Rep. Ocasio-Cortez, 29, is the youngest woman ever to serve in Congress and she comes with quite a following. She has “far more power” than any other member of Congress on Twitter, according to a published report.
Republicans, who were in charge of the House of Representatives until this month, had aggressively pursued an agenda of deregulation. With the Senate still in Republican control, it is likely that compromise and collaboration will be the most important words of the current Congessional session. But with Reps. Waters and Ocasio-Cortez leading the charge, investigations and hearings may become prime-time viewing for the next couple of years.