In the 116th Congress, Ed is proud to serve on three committees:
Financial Services Subcommittees:
- Consumer Protection and Financial Institutions - Chair
Science, Space and Technology Subcommittees:
- Space and Aeronautics
- Investigations and Oversight
Rules and Organization of the House - Vice Chair
Select Committee on the Modernization of Congress
Ed is also a member of the following caucuses:
- Gun Violence Prevention Task Force
- Equality Caucus
- Labor Caucus
- National Wildlife Refuge Caucus
- New Dem Coalition
- Olympic and Paralympic Caucus*
- Science and National Labs Caucus
- Sustainable Energy and Environment Coalition
|Since taking office in 2007, Ed has served on the Financial Services Committee and has sat on a variety of Subcommittees including Capital Markets and Government Sponsored Enterprises, Monetary Policy and Trade, and Financial Institutions and Consumer Credit, and is now the Ranking Democratic Member on Terrorism and Illicit Finance. Ed has a strong record of standing up for consumers and supports hardworking Coloradans by helping secure a better future for themselves and their families.
Ed worked to secure passage of the historic Dodd-Frank Wall Street Reform and Consumer Protection Act which holds Wall Street and big banks more accountable and protects our country from another financial crisis. Most importantly, Dodd-Frank established the Consumer Financial Protection Bureau (CFPB) which restores accountability and responsibility to American taxpayers and protects consumers. CFPB’s enforcement actions have already resulted in $554 million paid in civil penalties and these funds can be distributed to consumers as a result of those predatory practices. In addition, payday lenders are now under federal supervision for the first time – protecting the 12 million consumers who take out payday loans every year.
Combatting Terrorism and Crime
As the ranking member on the Terrorism and Illicit Finance Subcommittee, Ed is working to combat terrorism and crime by stopping their flow of funding. This subcommittee has jurisdiction over several offices within the Department of the Treasury working to disrupt terrorist funding networks. In response to escalating tensions with North Korea, Ed helped introduce legislation to impose strict secondary sanctions against North Korea financial institutions.
Support for Small, Minority and Women-Owned Businesses
Ed played an active role in the Jumpstart Our Business Startups Act (JOBS Act) to help companies efficiently access capital markets while preserving important investor protections. As a long-time advocate for business, Ed worked on establishing crowdfunding portals and reauthorizing the Export-Import Bank which helps small businesses in the 7th Congressional District export their products overseas. Ed also helped establish the new United States Patent and Trademark Office, a satellite location in Denver which helps local businesses obtain patents for new products.
Access to Banking
Ed is leading the way to resolve the banking crisis marijuana-related businesses are facing with the Secure and Fair Enforcement (SAFE) Banking Act. By updating federal banking laws and regulations to resolve conflicts between federal and state laws, the legislation allows marijuana-related businesses to access the banking system, ensuring these businesses do not have to operate on a cash-only basis. Allowing tightly regulated marijuana businesses the ability to access the banking system significantly reduces the public safety threat. Similar companion legislation was introduced in the Senate and continues to garner bipartisan support.
Making Government Work More Efficiently
Ed drafted and helped get signed into law bipartisan legislation (H.R. 5062) that clarifies the sharing of information between federal and state regulators that license, supervise or examine consumer financial products or services. This provides greater assurances to consumer lenders and helps to reduce regulatory burdens by ensuring the Consumer Financial Protection Bureau (CFPB), state banking agencies and nonbank agencies coordinate examination schedules.
Making Housing More Affordable and Accessible
Ed has long sought to provide regulatory relief to Public Housing Authorities so they can better serve the needs of the most vulnerable. That is why Ed led the way on passing the Tenant Income Verification Relief Act allowing tenants on a fixed income to have their income certified and/or verified once every three years rather than annually. As more streamlined process helps to reduce the burdens placed on tenants for purposes of determining their eligibility for certain Federal assistance housing programs, including seniors and those on a fixed income.