Luetkemeyer, head of the House Financial Services Committee, to resign

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WASHINGTON — Rep. Blaine Lutkemeyer, a longtime Republican from Missouri and ranking member of the House Financial Services Committee, will not seek reelection in 2024, his office announced.

Luetkemeyer had established himself as one of the committee’s most influential voices. He currently chairs the Committee’s Subcommittee on National Security, and prior to his time in Washington, he worked as a state bank examiner and regional banker. He was first elected in 2009 and will step down when his term expires in January 2025.

“It has been an honor to serve the great people of the 3rd Congressional District and the state of Missouri over the past several years,” Luetkemeyer said in a statement. “However, after much consideration and discussion with my family, I have decided not to seek re-election and will retire at the end of my term in December. I will look forward to the next few months as I finish out my final term. “I look forward to continuing to work with all constituents on a myriad of issues, as well as addressing the many difficult and serious issues facing our great country. There’s still a lot more to come.”

Luetkemeyer is the second Republican ranking member of the House Financial Services Committee to announce that he will not seek re-election in the upcoming election.

Representative Patrick McHenry of North Carolina, the current panel chairman, also said: he said he was retiring If approved by Congress at the end of the year, the committee’s top Republican slot will remain open. Before announcing his resignation, Mr. Luetkemeyer was considered the frontrunner to replace Mr. McHenry as the top Republican committee member. had previously expressed interest in the position.

With his resignation, the front-runners for the next Congressional Republican committee chair are Representative Andy Barr (Kentucky), Representative French Hill (Arkansas), and Representative Bill Huizenga (Michigan). Of those candidates, Mr. Hill is the most senior member and led the committee on an interim basis last year when Mr. McHenry was interim chair.

Luetkemeyer was staked out. Several sign bank problems It was the same when I was on the committee, but nothing was more important than that. crusade against The Financial Accounting Standards Board’s CECL, or “Current Expected Credit Losses” standard. Before Congress’s most recent recess, Mr. Luetkemeyer introduced legislation that would strengthen the FASB’s rulemaking guidelines and require annual reporting to Congress.

Mr. Luetkemeyer has also been one of Operation Chokepoint’s most vocal critics, and has frequently complained at hearings that Biden administration bank officials are bringing politics into the industry.

It is unlikely that Republicans will lose the seat due to his resignation. His district represents central Missouri and parts of the St. Louis suburbs. considered Safe Republican party.