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Ranking Member Waters Applauds Second Circuit Ruling Affirming CFPB’s Constitutionality

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Second Circuit Court of Appeals’ ruling that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional. “The decision by the Second Circuit told us what we already know: the Consumer Financial Protection Bureau (CFPB) and its fund...

Ranking Member Waters Commends Biden Administration for Reinstating Critical Fair Housing Rule to Root out Systemic Housing Discrimination

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Department of Housing and Urban Development’s (HUD) reinstatement of the 2013 Disparate Impact Rule, which implements disparate impact protections under the Fair Housing Act of 1968. “From rooting out discriminatory algorithms and financial technology to excl...

WITNESS ADDED: Waters, McHenry Announce First Hearing on Silicon Valley Bank and Signature Bank Failures

| Posted in Press Releases

Today, the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), and the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held at 10:00 AM ET on March 29, 2023. This will be the first of multiple he...

Ranking Member Waters Urges FDIC to Ensure California Communities Remain Supported Through Silicon Valley Bank’s Housing, Community Reinvestment Plan

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency take steps to ensure the continued implementation of the Silicon Valley Bank’s (SVB) Community Benefits Plan (CBP) – which the bank agreed to in 2021 and is aimed at providing housing, small business, and other co...

Ranking Member Waters, Chair McHenry Send Letter to the Government Accountability Office Urging Immediate Study, Investigation into Recent Bank Failures

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Congressman Patrick McHenry (R-NC), Chair of the House Financial Services Committee, sent a letter to the Government and Accountability Office (GAO) calling on the office to begin a study and an investigation into the recent collapse of Silicon Valley Bank and Signature Bank. Specifically, th...

Waters, McHenry Announce First Hearing on Silicon Valley Bank and Signature Bank Failures

| Posted in Press Releases

Today, the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), and the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held on March 29, 2023. This will be the first of multiple hearings the Comm...

Ranking Member Waters Announces Legislation in Progress to Strengthen Administration’s Authorities on Clawbacks and Penalties, Urges Regulators to Finish Rules and Use Existing Authorities to Hold Executives Accountable Following Bank Failures

| Posted in Press Releases

Following the Biden Administration’s call to Congress to strengthen authorities for clawbacks, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the United States Federal Reserve System, Federal Deposit Insurance Corporation and the Securities and Exchange Commission announcing that she is crafting legislation to enhance executive auth...

Ranking Member Waters Urges Democrats to Secure Critical Housing Investments in President Biden’s Fiscal Year 2024 Budget

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the release of President Biden’s Fiscal Year 2024 budget request. “At a time when our nation’s affordable housing and homelessness crises worsen, I applaud the Biden Administration for its 2024 budget proposal which includes $73 billion in discretionary funding a...

Ranking Member Waters Applauds FTC Move to Block Proposed ICE Acquisition of Black Knight

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Trade Commission’s announcement to block the acquisition of Black Knight, a software, data, and analytics company by the Intercontinental Exchange (ICE), a leading global provider of data, technology, and market infrastructure. “I applaud the commonse...

Waters, Brown Commend Federal Regulators for Protecting Banking System

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve, Treasury Department and the Federal Deposit Insurance Corporation (FDIC), announced new actions regarding Silicon Valley Bank (SVB). “W...

Ranking Member Waters’ Statement Following the Closure of Silicon Valley Bank

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Deposit Insurance Corporation’s closure of Silicon Valley Bank. “I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history. I am closely monitoring and convening Committee members with regulators s...

WATERS, BROWN BLAST HOUSE REPUBLICANS ATTEMPT TO DESTROY CFPB

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after House Republicans released a series of bills that would undermine the Consumer Financial Protection Bureau (CFPB), the only agency dedicated to prote...

Ranking Member Waters Delivers Opening Statement at Full Committee Hearing with Chair Powell: “Republicans Have Completely Ignored the Biggest Economic Threat to Businesses, Consumers and Our Economy – Defaulting on Our Debt.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Good morning, Chair Powell. Since your last visit, our country, under the leadership of President Biden, has made major progress to improve economic conditions, incl...

Ranking Member Waters Announces Passage of Democratic Legislation During Full Committee Markup, Shares Amendments for Problematic Republican Data Privacy Bill

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic-led bills that passed during the Committee’s first markup, and shared the list of amendments that Committee Democrats offered in response to Republican’s data privacy bill. The following Democratic-led bills passed during this week’s full Committee markup: H.R. 1161, t...

Ranking Member Waters Urges MBDA to Ensure $100 Million Small Business Grant Program Reaches Underserved Businesses, Extend Today’s Deadline

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent the following letter to the Under Secretary of Commerce for the Minority Business Development Agency (MBDA), Donald Cravins, Jr., regarding the agency’s Capital Readiness Program. In the letter, Waters calls on the Under Secretary to take the necessary steps to ensure that small businesses t...

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