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House Financial Services Committee Chairman Oxley Announces Retirement

House Financial Services Committee Chairman Mike Oxley (R-Ohio) announced his retirement last week. GOP committee term limits will force Oxley to give up his chairmanship...
November 8, 2005

House Financial Services Committee Chairman Mike Oxley (R-Ohio) announced his retirement last week. GOP committee term limits will force Oxley to give up his chairmanship of the House Financial Services Committee at the end of 2006, and the 61-year-old said that was a leading factor in his decision to leave Congress when his current term expires in January 2007.

First elected in 1981, Oxley is currently serving his 12th term in the House. He has been at the forefront of many important pieces of insurance and financial services legislation over the years, including the Gramm-Leach-Bliley Act, the Sarbanes-Oxley Act and the Terrorism Risk Insurance Act (TRIA).

More recently, Oxley and his colleague, Capital Markets Subcommittee Chairman Richard Baker (R-Louisiana), have been spearheading a wide-ranging insurance reform proposal, the State Modernization and Regulatory Transparency (SMART) Act.

"It has been an extraordinary privilege to serve the people of the Fourth District in Washington. From President Reagan to George W. Bush, my goal has been to represent my constituents and my district's conservative viewpoint," Oxley said.