Guam Congressman Michael San Nicolas (D-GU) has been elected to serve as the vice chair of the U.S. House Financial Services Committee. San Nicolas is the first delegate from a U.S. territory to serve in the role.
Committee Democrats elected the Guam Delegate, according to a release from Congresswoman Maxine Waters (D-CA), financial services committee. chairwoman.
The committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The committee ensures enforcement of consumer protection and housing laws, such as the U.S. Housing Act, the Truth In Lending Act, among others.
“Congressman San Nicolas comes to the committee with a wealth of experience and expertise in financial services,” said Waters. “I am very confident that he will be an excellent vice chair as he has contributed fresh ideas and an illuminating perspective since joining the committee. I look forward to working with him in this new capacity to advance solutions that benefit and protect hardworking Americans.”
In response, San Nicolas said, “I am deeply honored and humbled that Chairwoman Waters saw me fit to serve as her vice chair of the Financial Services Committee, and equally humbled for the support of my colleagues on the Committee.”
He said, as the first committee vice chair who is a delegate of a U.S. territory, the appointment is a testament to the committee’s focus on inclusion and openness to new talent.
“I earnestly look forward to the work ahead to uplift the financial prospects of the communities we serve, and will honor the trust the chair and the committee has placed in me, with good old-fashioned American hard work, and territory flair,” San Nicolas said.