Banking and Financial Institutions Committee, California State Senate

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The Banking and Financial Institutions Committee is a standing committee of the California State Senate. It was formerly known as the Banking, Finance and Insurance Committee.

Per the Senate Rules, committees of the California State Senate are assigned by the President pro Tempore. The President pro Tempore has the power to appoint the chair and vice chair of each committee.[1] The President pro Tempore is considered an ex officio member of all committees of which he or she is not a regular member but does not have voting rights and is not counted for purposes of determining a quorum.[2]

DocumentIcon.jpg See rules: Standing Rules of the Senate

Function

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The duty of the Banking and Financial Institutions Committee, comprising nine members, is to investigate and study any proposed bills relating to financial institutions, lending, and corporations.[3]

As a standing committee of the California State Senate, the Banking and Financial Institutions Committee has the following powers:[4]

  • To appoint a secretary or hire clerical, technical, or legal assistants as necessary.
  • The committee may summon or subpoena — with prior approval from the Committee on Rules — witnesses and material documents as necessary in its investigation of a bill or law. Subpoenas approved by the Committee on Rules shall be served by the California State Senate Sergeant at Arms, or a designee selected by the Sergeant at Arms.
  • All departments, agencies, and subdivisions of the state of California, as well as the Legislative Counsel and individuals — regardless of his or her connection to the state government — are required to produce any information, records, and documents requested by the committee as necessary.
  • All standing committees are allowed to meet at the state capitol as necessary to perform their duties, and may spend such money as is made available by the Senate for that purpose.
  • Unless the money has been made available prior, a committee may not incur debt.

As a standing committee, the Banking and Financial Institutions Committee is also governed by the following rules:[5]

  • The officers of each committee shall consist of a chair, vice chair, and secretary.
  • The chair shall preside at all meetings when present, unless he or she is the sole or lead author of a bill under consideration. If the chair is unable to preside over a meeting, the duty shall fall to the vice chair. Should both members be absent, a member designated by the chair shall preside over the meeting.
  • The secretary of the committee is required to keep an accurate record of the meetings and actions as taken by the committee. Bills and other measures approved by the committee shall be reported as soon as possible to the Senate.
  • The committee is required to meet on a day and hour as designated by the Committee on Rules.
  • Special meetings may be called at the discretion of the chair — following approval by the Committee on Rules — by providing reasonable notification of all members of the time, location, and subject of the meeting. Matters may not be considered in a special meeting unless prior notice is given in the Daily File. Special meetings should be scheduled so as to allow all members to attend without scheduling conflicts.
  • A majority of the membership of a committee constitutes a quorum. A majority vote shall be required to table a bill, remove it from the table, or reconsider a vote on a bill.
  • Committee members may not take action on a bill outside of a scheduled committee meeting.
  • The chair of the committee shall be responsible for setting hearings of bills and arranging the calendar for committee hearings. A bill hearing may not take place unless the bill's author has been notified. Unless written authorization is provided by the bill's author, a bill may not be considered without the presence of the bill's author.
  • All meetings shall be open and public, aside from any purposes authorized by Section 9029 of the Government Code, in which case a committee or subcommittee — by majority vote — may meet in executive session.
  • The chair shall be responsible for keeping decorum and directing the order of presentation of the arguments for and against matters for consideration by the committee.
  • A bill voted out of a committee or defeated shall only be reconsidered if a motion to reconsider a bill is approved by a majority vote of the committee or if the procedures for reconsideration conform to Joint Rule 62, subdivision (a).
  • Any bill laid on the table and then removed from the table at a later meeting may not be reheard until a subsequent committee meeting is held, after being calendared in the Daily File, and after notice is given.
  • If proposed amendments are adopted to a bill in committee, the bill may be voted on at that meeting, or may be taken out to print before final action. Improperly formatted amendments shall be prepared correctly and submitted to the chair for approval. If the chair finds amendments submitted by the author to be major or substantial, the documents must be submitted to the committee at least two legislative days prior to the scheduled hearing.
  • Prior to consideration by a standing committee, all bills must be referred by the Committee on Rules.
  • The chair of the committee has the power, with permission from the Committee on Rules, to appoint subcommittees.

As a standing committee, the Banking and Financial Institutions Committee must adhere to the additional rules as follows:[6]

  • Committees may adopt additional rules as long as they do not come into conflict with the previous rules.
  • A majority vote from a standing committee is required to report a bill, constitutional amendment, concurrent resolution, or joint resolution out of the committee.
  • In order to report a Senate resolution out of a committee, a majority vote from a standing committee is required.
  • Just as any member would, a standing committee may introduce a bill concerning any subject within the scope of that committee's consideration. A committee bill shall include the signatures of each member of the committee.
  • A committee vote shall be by roll call vote if the members are voting on the disposition of bills, constitutional amendments, concurrent resolutions, and joint resolutions by committees.

Membership

2023-2024 legislative session

Banking and Financial Institutions Committee, 2023-2024

Democratic members (5) Republican members (2) Third-party members(0)

2021-2022 legislative session

Banking and Financial Institutions Committee, 2021-2022

Democratic members (7) Republican members (2) Third-party members(0)

2019-2020 legislative session

Banking and Financial Institutions Committee, 2019-2020

Democratic members (5) Republican members (2) Third-party members(0)

2017 legislative session

The following table describes committee membership at the beginning of the 2017 legislative session.

Banking and Financial Institutions Members, 2017
Democratic members (5)Republican members (2)
Bill Dodd, ChairAndy Vidak, Vice chair
Cathleen GalgianiMike Morrell
Ben Hueso
Ricardo Lara
Anthony Portantino, Jr.

2015 legislative session

The following table describes committee membership at the beginning of the 2015 legislative session.

2013-2014

The following table describes committee membership at the beginning of the 2013 legislative session.

2011-2012

The following table describes committee membership for the 2011 legislative session.

External links

Footnotes


Current members of the California State Senate
Leadership
Minority Leader:Brian Jones
Senators
District 1
District 2
District 3
District 4
District 5
District 6
District 7
District 8
District 9
District 10
District 11
District 12
District 13
District 14
District 15
District 16
District 17
District 18
District 19
District 20
District 21
S. Limón (D)
District 22
District 23
District 24
Ben Allen (D)
District 25
District 26
District 27
District 28
District 29
District 30
District 31
District 32
District 33
District 34
District 35
District 36
Vacant
District 37
District 38
District 39
District 40
Democratic Party (30)
Republican Party (9)
Vacancies (1)