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  • Waters Statement on the OCC’s Weakening of CRA Enforcement
    Posted in Press Releases on October 18, 2017 | Preview rr
    Tags: OCC

    Today, in response to the Office of Comptroller of the Currency’s move to weaken its examination policies for the Community Reinvestment Act (CRA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The Community Reinvestment Act is a vital law that places an obligation on banks to responsibly invest in and serve the communities where they are chartered, and prevents discriminatory lending and redlining. Under Acting Comptrol... Read more

  • Waters: Trump Has No Concept of Our National Security Interests
    Posted in Press Releases on October 13, 2017 | Preview rr
    Tags: International

    In response to President Trump’s announcement today that he will not certify to Congress that Iran is meeting its commitments under the Joint Comprehensive Plan of Action (JCPOA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Trump has absolutely no concept of what is in the national interest of our country. His decision to decertify a pivotal agreement that has so far delivered on its promise of blocking Iran’s path to ... Read more

  • Waters Floor Statement on Supplemental Disaster Relief Funding Bill
    Posted in Press Releases on October 12, 2017 | Preview rr
    Tags: Flood Insurance, House Floor

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement from the House floor in support of the supplemental disaster relief funding bill. As Prepared for Delivery Mr. Speaker, I rise today in support of this critical disaster relief funding. In the wake of the destruction that this historic hurricane season has wrought on Texas, Florida, the Virgin Islands, Puerto Rico, and the Gulf Coast, I am very pleased that in addition t... Read more

  • Waters Demands Answers from Carson Regarding Trump’s Threats to Puerto Rico
    Posted in Press Releases on October 12, 2017 | Preview rr
    Tags: Full Committee, HUD

    Today, at the first full committee hearing of the 115th Congress to examine the future of housing in America under U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, questioned Secretary Carson about the devastation in Puerto Rico and President Trump’s threatening and denigrating tweets on the matter. In the exchange, Ranking Member Waters highlighted President Trump’s tweets, in ... Read more

  • Waters Opening Statement at Hearing with HUD Secretary Carson
    Posted in Press Releases on October 12, 2017 | Preview rr
    Tags: Full Committee, HUD

    Today, at a full Committee hearing with U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: Thank you Mr. Chairman. America is currently in the midst of the worst rental housing crisis that we’ve ever experienced, and it is hitting our lowest income families the hardest. According to the National Low Income Housing Coalition, the United States has a sh... Read more

  • Waters Opening Statement at Committee Markup of 23 Bills
    Posted in Press Releases on October 11, 2017 | Preview rr
    Tags: Full Committee, 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: Thank you very much, Mr. Chairman. I must indicate that this is the largest number of bills that I’ve ever experienced being taken care of in Committee, and it does cause me some concern. I know there may have been some questions about filing deadlines, et cetera. However, I do not wish us to get bogged... Read more

  • Waters Blasts Treasury Report Recommending Rollback of Dodd-Frank Capital Market Rules
    Posted in Press Releases on October 7, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act

    Today, in response to a report released by the U.S. Department of the Treasury that calls for the rollback of Dodd-Frank capital markets regulations, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “The report released by the Treasury Department today is nothing less than a blueprint for dismantling strong reforms that Democrats put in place in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The report reco... Read more

  • Waters Praises Consumer Bureau for Final Payday Rule
    Posted in Press Releases on October 5, 2017 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the Consumer Financial Protection Bureau’s final rule on payday, vehicle title, and certain high-cost installment loans: “I applaud the Consumer Bureau and its Director, Richard Cordray, for taking this important step to finally rein in payday lenders. When the rule takes effect, these lenders will have to ensure that consumers can actually afford to pay off their p... Read more

  • At Equifax Hearing, Financial Services Democrats Secure Second Hearing on Credit Reporting Failures
    Posted in Press Releases on October 5, 2017 | Preview rr
    Tags: Full Committee, Credit Reports and Scores

    Recognizing that the American public deserves answers and a promise to safeguard their personal identifying information, Financial Services Committee Democrats, led by Ranking Member Maxine Waters (D-CA), used an obscure parliamentary maneuver to demand a Minority Day hearing to continue to discuss the numerous issues with the current credit reporting system and to cast more light on the many negative repercussions of the Equifax breach for millions of Americans. In their letter to Chairman Hens... Read more

  • At Full Committee Hearing, Waters Questions Equifax’s Commitment to Consumers
    Posted in Press Releases on October 5, 2017 | Preview rr
    Tags: Full Committee, Credit Reports and Scores

    Today, at a full committee hearing to discuss the massive security breach at Equifax, one of the nation’s largest credit reporting agencies, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. The massive breach at Equifax and the company’s subsequent failures are a lapse on a scale we have never before seen. Equifax’s failure to safeguard consumer data is all the m... Read more

  • Waters Slams the Harmful 2018 Republican Budget
    Posted in Press Releases on October 4, 2017 | Preview rr

    Today on the House floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered remarks in strong opposition to the 2018 Republican budget. As Prepared for Delivery Thank you Mr. Yarmuth. I rise in strong opposition to the Republicans’ 2018 Budget, which would dramatically increase our deficit and debt by trillions of dollars to give millionaires and billionaires a massive tax cut. Don’t be fooled, this plan directly benefits President Trump, his fa... Read more

  • Waters Remarks at Press Conference to Unveil the Megabank Accountability and Consequences Act
    Posted in Press Releases on October 4, 2017 | Preview rr
    Tags: Full Committee

    Today, at a press conference to unveil Congresswoman Maxine Waters’ (D-CA), Ranking Member of the Committee on Financial Services, groundbreaking legislation titled the Megabank Accountability and Consequences Act (H.R. 3937), Ranking Member Waters delivered the following remarks: As Prepared for Delivery Good afternoon, and welcome. I would like to thank Representatives Green, Ellison, Kaptur, Sarbanes and Jayapal for being here today. I would also like to recognize the consumer groups in the r... Read more

  • Waters Introduces Groundbreaking Legislation to Shut Down Abusive Megabanks Like Wells Fargo
    Posted in Press Releases on October 4, 2017 | Preview rr

    Following her release of a Democratic staff report titled “The Case for Holding Megabanks Accountable: An Examination of Wells Fargo’s Egregious Consumer Abuses,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced groundbreaking legislation that would hold megabanks like Wells Fargo accountable when they exhibit a pattern of abusive behavior towards hardworking American consumers. “Rampant violations of consumer protections by megabanks ar... Read more

  • Waters Opening Statement at Hearing with FHFA Director Watt
    Posted in Press Releases on October 3, 2017 | Preview rr
    Tags: Full Committee, FHFA

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at a full committee hearing entitled “Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency.” As Prepared for Delivery Today we welcome back our former colleague and my good friend, Federal Housing Finance Agency Director Mel Watt. It has been more than two years since Director Watt last testified before us, and I must not... Read more

  • Waters Releases Staff Report on Pattern of Consumer Abuse from Wells Fargo
    Posted in Press Releases on September 29, 2017 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Federal Reserve, OCC

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a Democratic staff report detailing a pattern of abusive business practices by Wells Fargo and finding that prudential regulators have failed to utilize the full extent of their authorities to end unlawful practices at megabanks like Wells Fargo. “Last September, our country first learned of the fraudulent account scandal at Wells Fargo,” said Ranking Member Waters. “Since then, it has beco... Read more

  • Waters Floor Statement on Republicans’ Misplaced Priorities for Flood Insurance Reform
    Posted in Press Releases on September 27, 2017 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement regarding H.R. 3823 on the House floor: As Prepared for Delivery Thank you, Mr. Speaker. I rise today in opposition to this bill, which began as a must-pass reauthorization of the Federal Aviation Administration, but has now become a Christmas tree for unrelated Republican priorities. Puerto Rico is on the brink of a humanitarian crisis following Hurricane Maria that is ... Read more

  • Waters Statement on Retirement of Equifax CEO
    Posted in Press Releases on September 26, 2017 | Preview rr
    Tags: Credit Reports and Scores

    Today, in response to the announcement that Equifax CEO Richard Smith has retired, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The retirement of Equifax’s CEO, just days before he is scheduled to testify at congressional hearings about the breach that occurred under his watch, does not relieve the company of its duty to provide answers to, and adequate redress for, the many millions of Americans who had their sensitive... Read more

  • Waters Statement on the Signing of U.S. – E.U. Covered Agreement on Insurance Matters on Insurance Matters
    Posted in Press Releases on September 25, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, International

    Following the announcement that representatives from the United States and European Union signed a covered agreement, a mechanism established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), on international insurance and reinsurance matters, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “I commend former Federal Insurance Office (FIO) Director Michael McRaith and his team for their hard wo... Read more

  • Waters, Booker and Meeks Statement on GAO Report on Disparities in Asset Management
    Posted in Press Releases on September 20, 2017 | Preview rr

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Senator Cory Booker (D-NJ), and Congressman Gregory Meeks (D-NY) released a statement on a new Government Accountability Office (GAO) report titled, “Investment Management: Key Practices Could Provide More Options for Federal Entities and Opportunities for Minority- and Women-Owned Asset Managers” (GAO-17-726), which was requested by the lawmakers. The GAO identified four modest practices in ... Read more

  • Waters Applauds Senate Passage of Waters and Hultgren Bill to Continue the Term of the FSOC Independent Member with Insurance Expertise
    Posted in Press Releases on September 20, 2017 | Preview rr
    Tags: FSOC

    Following the U.S. Senate passage of H.R.3110, the Financial Stability Oversight Council Insurance Member Continuity Act, a bipartisan bill introduced by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Randy Hultgren (R-IL), a member of the Financial Services Committee, which would extend the term of the Financial Stability Oversight Council (FSOC) independent member with insurance expertise, Ranking Member Waters made the following stat... Read more

  • Waters Statement on the 2017 Hurricane Season and the Future of the National Flood Insurance Program
    Posted in Press Releases on September 19, 2017 | Preview rr
    Tags: Flood Insurance, Subcommittee on Housing and Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement regarding the devastation caused by hurricanes this season, and the news that Congress will need to raise the National Flood Insurance Program’s (NFIP) borrowing authority to pay all of its claims from Hurricanes Harvey and Irma. “As the 2017 hurricane season continues, we must put these storms and their impact on our fellow Americans into perspective. Irma made history with wind... Read more

  • Following Equifax Breach, Ranking Member Waters Reintroduces Comprehensive Credit Reporting Reform Legislation
    Posted in Press Releases on September 13, 2017 | Preview rr
    Tags: Credit Reports and Scores

    Following the announcement that 143 million American consumers were impacted by the Equifax security breach, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, reintroduced the Comprehensive Consumer Credit Reporting Reform Act, which contains landmark reforms to improve the nation’s credit reporting system. Credit reporting agencies compile and maintain files for about 200 million Americans and the Equifax data breach proves that more needs to be done to ... Read more

  • Waters Statement on the Equifax Security Breach
    Posted in Press Releases on September 7, 2017 | Preview rr
    Tags: Credit Reports and Scores

    Following the announcement that nearly half of U.S. population’s personal data was exposed -- including Social Security numbers, birth dates, and addresses -- due to an enormous security breach at Equifax, one of the nation’s major credit reporting agencies, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This hack into sensitive information compiled and maintained by Equifax is one of the largest data breaches in our nati... Read more

  • Waters Floor Remarks on Trump Budget Cuts to Disaster Relief and the Importance of Responsible NFIP Reauthorization
    Posted in Press Releases on September 7, 2017 | Preview rr

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement from the House floor: As Prepared for Delivery I ask unanimous consent to revise and extend my remarks. On August 26, Hurricane Harvey began a path of unprecedented destruction across Southeast Texas. The historic levels of rainfall were so extraordinary that the National Weather Service had to add new colors to its map graphics just to record it. As of August 30, it was... Read more

  • Waters Speaks Out Against Maneuver to Remove Bipartisan Export-Import Bank Amendment from Omnibus Funding Bill
    Posted in Press Releases on September 7, 2017 | Preview rr
    Tags: Export-Import Bank

    During consideration of H.R. 3354, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor against a ruling to eliminate an amendment introduced by Congressman Charlie Dent (R-PA) which would temporarily modify the Export-Import Bank’s quorum requirement, allowing the Bank to consider transactions of all sizes and clear its significant backlog. Despite a bipartisan reauthorization of the Export-Import Bank in 2015, the Bank remains func... Read more



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