House Financial Services Committee picks up 10 newly elected members

The new members, selected by the House Republican Steering Committee, will come on board as the committee prepares to tackle a full slate in the next Congress, overseeing the implementation of the Dodd-Frank Act while trying to reform troubled mortgage giants Fannie Mae and Freddie Mac.

The announcement is the latest example of House GOP leadership’s willingness to put freshman members into powerful positions typically reserved for veteran lawmakers.  Three freshmen won spots on the Appropriations Committee, with two more being placed on the Ways and Means Committee.

Eight of the new members are true freshmen, while two more freshly-elected members have reclaimed seats they previously held. Rep-elect Michael Fitzpatrick (R-Pa.) is returning to Capitol Hill after reclaiming the seat from Democratic Rep. Patrick Murphy, who originally defeated Fitzpatrick in 2006, while Rep-elect. Steve Pearce (R-N.M.) won back the seat he gave up in 2008 to pursue a failed run against Democratic Sen. Tom Udall.

Of the new additions, only Reps-elect. Blaine Leutkemeyer (R-Mo.) and Lynn Westmoreland (R-Ga.) are current members of Congress.

The picks display a geographic and biographical diversity, but with a slight skew towards business-savvy. More than half of the new members cite significant private business experience in their backgrounds. 

For example, Rep-elect. Francisco “Quico” Canseco (R-Texas) successfully ran a business developing shopping centers and retail stores before running for office. And as the GOP-led committee prepares to cast a scrutinizing eye over Dodd-Frank rulemaking, Rep-elect. Steve Stivers’s (R-Ohio) experience as a former vice president of governmental affairs for Bank One could also come in handy.