Press Releases

Browse Documents
by Date or Issue:
  • Waters, Brown and Green Statement on GAO Report on Management Representation of Minorities and Women and Diversity Practices in the Financial Services Industry
    Posted in Press Releases on December 8, 2017 | Preview rr
    Tags: GAO

    Today, following the public release of a Government Accountability Office (GAO) report entitled “Financial Services Industry: Trends in Management Representation of Minorities and Women and Diversity Practices, 2007-2015,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, and Congressman Al Green (D-TX), Ranking Member of the House Financial S... Read more

  • Waters and Ranking Members Press Mnuchin to Provide Documents on Trump’s and Trump Associates’ Financial Ties to Russia
    Posted in Press Releases on December 8, 2017 | Preview rr
    Tags: Department of the Treasury, International

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Dan Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, and Congressman Ed Perlmutter (D-CO), Ranking Member of the Subcommittee on Terrorism and Illicit Finance, sent a le... Read more

  • Waters Floor Statement on the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act
    Posted in Press Releases on December 7, 2017 | Preview rr
    Tags: SEC, House Floor

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement on H.R. 477, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017: H.R. 477 seeks to provide a statutory exemption from registration with the Securities and Exchange Commission, or S.E.C., for certain brokers who facilitate the merger or acquisition of small businesses, known as M&A brokers. When Congress first considered ... Read more

  • Waters: GAO Report is More Evidence That Regulators Need to Get Tougher on Megabanks
    Posted in Press Releases on December 6, 2017 | Preview rr
    Tags: Federal Reserve, GAO

    Today, following the Government Accountability Office’s (GAO’s) release of a report entitled “Large Bank Supervision: Improved Implementation of Federal Reserve Policies Could Help Mitigate Threats to Independence,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This report is yet more evidence that the Federal Reserve and other prudential regulators need to take the supervision of large banks much more seriously. Regulat... Read more

  • Waters Slams Effort to Use Congressional Review Act to Repeal Payday Lending Rule
    Posted in Press Releases on December 5, 2017 | Preview rr
    Tags: CFPB

    Today, in response to the introduction of a resolution to use the Congressional Review Act to repeal the Consumer Financial Protection Bureau’s recently issued rule on payday, vehicle title, and certain high-cost installment loans, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Once again, Republicans are shamelessly pushing to roll back an important rule that protects consumers. “This year, the Consumer Financial Protect... Read more

  • Waters Statement on Reports That Deutsche Bank has Been Subpoenaed by Special Counsel Mueller
    Posted in Press Releases on December 5, 2017 | Preview rr
    Tags: Department of the Treasury, Department of Justice, International

    Today, in response to reports that Special Counsel Robert Mueller has subpoenaed Deutsche Bank for records relating to President Trump and his family, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am pleased to see reports that Special Counsel Mueller is following the Trump money trail, as I have always believed it is the key to piecing together the ties between the President, his associates, and the Kremlin. I and oth... Read more

  • Waters Statement in Opposition to Senate Bill to Weaken Key Dodd-Frank Reforms
    Posted in Press Releases on December 4, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement in opposition to S.2155, a bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act: “This bill simply repackages harmful provisions from Chairman Hensarling’s Wrong Choice Act, and it must not become law. It guts critical consumer protections put in place following the financial crisis, including mor... Read more

  • Waters Requests Information on Status of Deutsche Bank Investigation from Rosenstein
    Posted in Press Releases on December 1, 2017 | Preview rr
    Tags: Department of Justice, International

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, wrote to Deputy Attorney General Rod Rosenstein to request information on the status of the Department of Justice’s investigation into Deutsche Bank’s Russian mirror trading scheme, Attorney General Session’s involvement in the investigation, and whether President Trump or his family members or associates have sought to influence the investigation. “[P]ress reports indicate that the Department’s inv... Read more

  • Waters Floor Statement in Opposition to Bill to Remove Protections for Manufactured Housing Consumers
    Posted in Press Releases on December 1, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 1699, a bill that would remove important protections for consumers of manufactured housing: As Prepared for Delivery Thank you Mr. Chairman. I rise today in opposition to H.R. 1699, which would undermine the Dodd-Frank Wall Street Reform and Consumer Protection Act, and eliminate consumer protections for some of the country’s most vulnerable b... Read more

  • Waters Statement on OCC Letter to Wells Fargo
    Posted in Press Releases on November 29, 2017 | Preview rr

    Today, in response to reports that the Office of the Comptroller of the Currency sent a letter to Wells Fargo stating that it is considering an enforcement action against the bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The time for letters of warning to Wells Fargo has long since passed. This is a bank that has demonstrated a troubling pattern of illicit activity and will apparently rip off anyone who trusts them... Read more

  • Waters: Leandra English is the Lawful Director of the Consumer Bureau
    Posted in Press Releases on November 29, 2017 | Preview rr

    In response to a U.S. District Court judge’s decision to deny Leandra English’s initial motion for a temporary restraining order against the Trump Administration for attempting to install White House Office of Management and Budget Director Mick Mulvaney as Acting Director of the Consumer Financial Protection Bureau, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This is just the beginning of what will likely be a long le... Read more

  • Waters and 25 Democratic Members File Amicus Brief in Support of Acting CFPB Director Leandra English
    Posted in Press Releases on November 27, 2017 | Preview rr
    Tags: CFPB

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 25 current and former Democratic Members filed an amicus brief today with the D.C. Circuit Court of Appeals, arguing that Consumer Financial Protection Bureau Deputy Director Leandra English should serve as Acting Director of the Consumer Bureau until a Director is confirmed by the Senate. “President Trump is entitled to choose who the next Director of the Bureau will be, but he must nominate tha... Read more

  • Waters Statement on Trump’s Attempt to Install Mick Mulvaney as Acting CFPB Director
    Posted in Press Releases on November 25, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    Today, in response to President Trump’s attempt to appoint Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Richard Cordray appointed Leandra English as Deputy Director of the Consumer Bureau to ensure a smooth transition and operational stability at the agency. Ms. English should be allowed to serve as Acting Director until a Director is... Read more

  • Waters Thanks Richard Cordray for His Outstanding Service as CFPB Director
    Posted in Press Releases on November 15, 2017 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement in response to Consumer Financial Protection Bureau Director Richard Cordray’s announcement that he will step down this month: “Richard Cordray is a true champion for American consumers. Under his outstanding leadership, the Consumer Bureau has made the financial marketplace stronger and fairer for hardworking Americans across the country. As the first Director of the Co... Read more

  • Waters Floor Statement in Opposition to the 21st Century Flood Reform Act
    Posted in Press Releases on November 14, 2017 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following floor statement in opposition to the H.R. 2874, the 21st Century Flood Reform Act: As Prepared for Delivery I rise today in opposition to H.R. 2874, legislation that will make flood insurance more expensive, less available, and less fair for consumers. At the outset, let me just say that I appreciate the time and effort that Chairman Hensarling and Mr. Duffy spent responding to my... Read more

  • Waters Opening Statement at Markup of 23 Bills
    Posted in Press Releases on November 14, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, SEC, Federal Reserve, Markup

    Today, at a House Financial Services Committee markup of 23 bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, I must admit I’m disappointed that the Committee is moving forward today with marking up a large number of bills that could be harmful to consumers, investors and our economy. Indeed, several of the bills before us today are pieces of the C... Read more

  • Waters Floor Statement Opposing Legislation to Weaken Investor Protections for Microcap Offerings
    Posted in Press Releases on November 9, 2017 | Preview rr
    Tags: SEC, Subcommittee on Capital Markets, Securities, and Investment

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 2201, the Micro Offering Safe Harbor Act: As Prepared for Delivery Mr. Speaker, H.R. 2201 would create an unnecessary and potentially dangerous loophole in federal and state securities laws by allowing companies to sell unregistered securities without important safeguards that normally apply to such transactions. Specifically, the bill would a... Read more

  • Waters Opening Statement at Subcommittee Hearing on Treasury’s Role in Safeguarding the American Financial System
    Posted in Press Releases on November 8, 2017 | Preview rr
    Tags: Department of the Treasury, International

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at a Subcommittee on Terrorism and Illicit Finance hearing entitled “Financial Intelligence and Enforcement: Treasury’s Role in Safeguarding the American Financial System.” As Prepared for Delivery Thank you, Mr. Chairman and welcome, Under Secretary Mandelker. Today’s hearing provides an opportunity to examine not only the roles and responsibilities of the Offic... Read more

  • Waters Statement on Trump’s Decision Not to Renominate Janet Yellen as Fed Chair
    Posted in Press Releases on November 2, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, Federal Reserve

    Today, in response to President Trump’s decision not to renominate Janet Yellen as Chair of the Federal Reserve Board of Governors, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Janet Yellen, who is the first woman to lead the Board of Governors of the Federal Reserve System, has done a masterful job as steward of the U.S. economy. She has demonstrated steady and strong leadership, and through bold and independent Federa... Read more

  • Waters: Trump Has Stripped Millions of Their Right to Join Together and Have Their Day in Court
    Posted in Press Releases on November 2, 2017 | Preview rr
    Tags: CFPB

    In response to President Trump’s signing of a Joint Resolution to repeal the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “By signing the repeal of the Consumer Financial Protection Bureau’s rule banning forced arbitration, President Trump stripped millions of Americans of their right to band together and take fi... Read more

  • Waters Introduces Legislation to Help Prevent Unfair Foreclosures on Seniors with HUD Reverse Mortgages
    Posted in Press Releases on October 27, 2017 | Preview rr
    Tags: CFPB, HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, introduced the Preventing Foreclosures on Seniors Act, a bill to make reforms to the U.S. Department of Housing and Urban Development’s (HUD’s) reverse mortgage program to help prevent unfair foreclosures on seniors. HUD’s Home Equity Conversion Mortgages (HECM) program allows seniors to take out reverse mortgages, which convert a portion of their home equity into cash to supplement their income in ... Read more

  • Waters Introduces Legislation to Make FHA Mortgages More Affordable
    Posted in Press Releases on October 26, 2017 | Preview rr
    Tags: FHA, HUD

    Today, Congresswoman Maxine Waters (D-CA) introduced the Making FHA More Affordable Act, a bill to repeal the requirement that Federal Housing Administration (FHA) borrowers pay mortgage insurance premiums for the life of the loan, and reinstate the FHA’s previous policy of only requiring borrowers to pay premiums until the outstanding principal balance reaches 78 percent of the original home value. “Families who take out home loans through the Federal Housing Administration (FHA) should not be ... Read more

  • Waters Opening Statement at Minority Day Hearing on Equifax and Credit Reporting Failures
    Posted in Press Releases on October 25, 2017 | Preview rr

    Today, at a Minority Day Hearing to examine the massive data breach that occurred at Equifax, and to consider and discuss ideas for ensuring the integrity of our country’s consumer reporting system and safeguarding consumer data, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you to all of the witnesses who are here today. To better understand the causes and impact of the massive data... Read more

  • Committee Democrats to Hold Hearing on Equifax and Credit Reporting Failures
    Posted in Press Releases on October 25, 2017 | Preview rr
    Tags: Full Committee, Credit Reports and Scores, Cybersecurity

    On Wednesday, October 25, 2017, House Financial Services Committee Democrats will lead an additional hearing to examine the massive data breach that occurred at Equifax, and to consider and discuss ideas for ensuring the integrity of our country’s consumer reporting system and safeguarding consumer data. The hearing, referred to as a “Minority Day Hearing,” is the second hearing before the Financial Services Committee during the 115th Congress where Democrats can select the panel of witnesses. E... Read more

  • Waters Blasts Republican Passage of Resolution to Repeal Forced Arbitration Rule
    Posted in Press Releases on October 25, 2017 | Preview rr
    Tags: CFPB

    Today, in response to Senate passage of a Joint Resolution to repeal the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Earlier this year, the Consumer Financial Protection Bureau issued an important rule to prohibit forced arbitration clauses in consumer contracts for financial products. These clauses, which are ... Read more



Subscribe for Updates

Twitter Feed