Ms Ocasio-Cortez has previously called for a 70 per cent top tax rate and for the biggest banks to be broken up.
The powerful committee also oversees the USA housing market, insurance and global finance sectors, among other areas.
Ocasio-Cortez wants to raise taxes to pay for her "Green New Deal", a fiscal juggernaut ostensibly aimed at fighting climate change that could dwarf Great Society expenditures.
The panel will be chaired by Rep. Maxine Waters, California Democrat.
'Personally, I'm looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking.More news: Broncos hire former Steelers OL coach Mike Munchak
During her campaign, Ocasio-Cortez also called for postal banking, "which will revitalize the United States Postal Service, provide a low-priced source of basic banking services for disenfranchised communities and increase competition in the banking industry", according to her website.
Their reported appointments to the House Financial Services Committee would be a setback for the industry, which had hoped the committee would be filled by moderate Democrats more sympathetic to their issues.
President Trump dismissed a question about Rep. Alexandria Ocasio-Cortez (D-NY) Monday, asking "who cares?" when a reporter asked about the freshman Congresswoman calling him a racist.
"We got under his skin", she added.