The post-election House Financial Services Committee is taking shape with leadership positions becoming more official in light of new political appointments. 

The latest appointee is Rep. Maxine Waters, D-Calif., according to the Wall Street Journal. Members of the committee touch all areas of financial services, including lending and servicing issues.

Michael Crittenden with the WSJ says House Democrats chose Waters to serve as a ranking member on the House Financial Services Committee. Waters will be the replacement for Rep. Barney Frank, D-Mass., who did not seek re-election in 2012. 

Waters is a veteran member of the Committee.

Another veteran, Rep. Jeb Hensarling, R-Texas, recently was tapped to become chairman of the same Committee.