Congressman Michael San Nicolas has responded to a copy of an old news release circulating online announcing a new financial services committee vice-chair — the position the Guam Congressman formerly held.
The news release by Congresswoman Maxine Waters, the chairwoman of the House Financial Services Committee, announcing that Congressman Jake Auchincloss will serve as the new vice-chair of the Committee was issued way back May 17, 2021.
An online commentator wondered why San Nicolas never announced he was removed as vice-chair of financial services way back in May. There was also a question as to whether San Nicolas was in a position to look into wrongdoing on illegal stock trades while he was vice-chair.
But San Nicolas, in a statement sent to PNC, said the financial services committee vice-chair position is assigned to a different member during a new Congress.
“I was not removed. During every new Congress, the position of vice-chair on the financial services committee is made available to a new member who never held the position previously,” San Nicolas stressed.
He added: “We are grateful for the opportunity to serve in that capacity, thank the Chairwoman and our colleagues for their vote of confidence, and wish our successor well.”