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  • Waters: Trump Administration’s Failure to Act on Condominium Rule Is Unacceptable
    Posted in Press Releases on June 22, 2018 | Preview rr
    Tags: FHA, HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the Trump Administration’s failure to issue a final U.S. Department of Housing and Urban Development (HUD) regulation implementing reforms to the Federal Housing Administration’s (FHA) policies regarding mortgage insurance for condominiums. “Condominiums are often the most affordable option for first-time and low-to-moderate income homebuyers, which is why my collea... Read more

  • Waters Highlights Need for Protections for Investors and Retirement Savers at Hearing with SEC Chairman
    Posted in Press Releases on June 21, 2018 | Preview rr
    Tags: Full Committee, SEC

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement at a full Committee hearing entitled, “Oversight of the U.S. Securities and Exchange Commission (SEC)” with SEC Chairman Jay Clayton. Thank you very much, Mr. Chairman, and welcome back, Chairman Clayton. Mr. Chairman, given recent developments regarding the Volcker rule, I’d like to offer a reminder that Congress put the Volcker rule into effect in order to stop b... Read more

  • At Subcommittee Hearing, Water’s Presses ICE Official on Agency’s Role in Human Rights Abuses Occurring on the Border
    Posted in Press Releases on June 20, 2018 | Preview rr
    Tags: Cybersecurity, FHFA, International

    Today, at a Terrorism and Illicit Finance Subcommittee hearing entitled “Illicit Use of Virtual Currency and the Law Enforcement Response,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement: As Prepared for Delivery Thank you for scheduling today’s hearing to examine the illicit uses of virtual currency and the law enforcement response. It is alarming how virtual currencies, especially newer ones, are being used to finance ter... Read more

  • Waters: GOP Tax Scam is a Giveaway to Wall Street at the Expense of Hardworking Americans
    Posted in Press Releases on June 20, 2018 | Preview rr
    Tags: Budget

    Today, at a full Committee hearing on the effects of H.R. 1, the Republican tax scam legislation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement: Thank you, Mr. Chairman. Since we are taking the time today to discuss the effects of H.R. 1, the Republican tax scam, I’d like to make it very clear what is really in this law. The tax scam contains massive giveaways to the nation’s largest banks. An Americans for Tax Fairness an... Read more

  • Waters Statement on the Nomination of Kathy Kraninger to Head the CFPB
    Posted in Press Releases on June 18, 2018 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on President Trump’s nomination of OMB Associate Director Kathy Kraninger to serve as Director of the Consumer Financial Protection Bureau. In 2017, Trump illegally appointed his Office of Management and Budget Director, Mick Mulvaney, to serve as Acting Director of the Consumer Bureau. “In his time at the Consumer Bureau, Mick Mulvaney has been doing everything in his... Read more

  • Waters Introduces Bill to Improve Protections for Homeowners Facing Foreclosure
    Posted in Press Releases on June 18, 2018 | Preview rr
    Tags: GSE, FHA, FHFA

    The bill comes on the heels of Ranking Member Waters’ bill to prevent foreclosures on FHA Borrowers. A decade after the devastating foreclosure crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, continues the fight to ensure hardworking Americans can remain in their homes by introducing H.R. 6102, the Homeowner Mortgage Servicing Fairness Act of 2018. This bill would protect homeowners against foreclosure and increase the Federal Housing Fina... Read more

  • Waters Statement on FY19 Financial Services Funding Bill
    Posted in Press Releases on June 14, 2018 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Budget

    Today, in response to the House Committee on Appropriations markup of the fiscal year 2019 Financial Services and General Government Appropriations bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The Trump Administration and Congressional Republicans are shameless in their attempts to rollback consumer protections and this bill is yet another attempt to undermine Wall Street reform and dismantle the Consumer Fi... Read more

  • Waters to Hensarling at Committee Markup: Consider Democratic Bills to Benefit Vulnerable Families
    Posted in Press Releases on June 14, 2018 | Preview rr
    Tags: Full Committee, Markup

    Today, at a House Financial Services Committee markup of four 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, it is disappointing that this is the second markup this month without any major legislation on the agenda to help America’s most vulnerable families, or hardworking Americans struggling to make ends meet. I will note that there are some p... Read more

  • At Hearing with Comptroller Otting, Waters Highlights CRA, Fraudulent Bank Activities and Fintech
    Posted in Press Releases on June 13, 2018 | Preview rr
    Tags: Full Committee, OCC

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement at a full Committee hearing on financial industry regulation with Joseph Otting, Comptroller of the Currency. This hearing marks Comptroller Otting’s first appearance before the Committee. As Prepared for Delivery Thank you, Mr. Chairman. I am looking forward to hearing Comptroller Otting’s testimony, and asking him about his activities at and plans for the Office ... Read more

  • Waters and 42 Democrats Call for Diverse Candidates in Search for Next President of Federal Reserve Bank of San Francisco
    Posted in Press Releases on June 8, 2018 | Preview rr
    Tags: Federal Reserve

    In a letter to Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, and Alex Mehran, Chair of the Federal Reserve Bank of San Francisco’s Search Committee, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services and 42 Democratic Members of Congress called for a transparent and inclusive search process to identify candidates to replace Federal Reserve Bank of San Francisco President John Williams. The letter was signed by Member... Read more

  • Waters Statement on the 2018 Hurricane Season and the National Flood Insurance Program
    Posted in Press Releases on June 8, 2018 | Preview rr
    Tags: Flood Insurance

    As this month marks the beginning of the 2018 hurricane season, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement regarding her longstanding call to reauthorize the National Flood Insurance Program (NFIP), a program created by Congress to provide flood insurance for millions of families: “In 2017, for the first time on record, three Category 4 hurricanes made landfall in the United States and served as painful reminder... Read more

  • At Committee Markup, Waters Calls on Chairman to Consider Democratic Legislation and Prioritize the Nation’s Most Vulnerable Families
    Posted in Press Releases on June 7, 2018 | Preview rr
    Tags: Full Committee, SEC, Subcommittee on Housing and Insurance, Subcommittee on Capital Markets, Securities, and Investment, Markup

    Today, at a House Financial Services Committee markup of 7 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 understand that this is likely the first of several markups this month, as part of an effort to move forward a package of capital markets bills. While it is important for the Committee to consider measures that will help our small business... Read more

  • Waters Statement on Mulvaney’s Decision to Fire All Members of the Consumer Bureau’s Advisory Board
    Posted in Press Releases on June 6, 2018 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement in response to Office of Management and Budget Director Mick Mulvaney’s reckless decision to fire all members of the Consumer Financial Protection Bureau’s (Consumer Bureau) Consumer Advisory Board. The Consumer Advisory Board is a statutorily required panel of experts comprised of industry representatives, consumers, community leaders and advocates who provide an ... Read more

  • At Committee Markup, Waters Calls for Consideration of Housing Bills to Help Vulnerable Families
    Posted in Press Releases on May 22, 2018 | Preview rr
    Tags: Full Committee, Markup

    Today, at a House Financial Services Committee markup of three bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee of Financial Services, gave the following statement: As Prepared for Delivery Thank you Mr. Chairman. Mr. Chairman, I was pleased that last week, the Subcommittee on Housing and Insurance finally held a hearing on homelessness in America. The hearing was the first focused on homelessness during your tenure as Chairman. As you know, I have long requested that t... Read more

  • Waters Floor Statement in Opposition to Harmful Dodd-Frank Rollback Bill
    Posted in Press Releases on May 22, 2018 | Preview rr

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to S.2155, a bill that damages homeownership opportunities, threatens our economy, and serves as a major giveaway to the nation’s largest banks and bad actors like Equifax: As Prepared for Delivery Democrats passed the Dodd-Frank Wall Street Reform and Consumer Protection Act to prevent another financial crisis and protect consumers, investors and our... Read more

  • Waters and Committee Democrats Press Mnuchin on Suspicious Activity Reports Related to Trump Associates
    Posted in Press Releases on May 18, 2018 | Preview rr
    Tags: Money Laundering, Subcommittee on Monetary Policy & Trade, Subcommittee on Oversight & Investigations, Department of the Treasury, Subcommittee on Terrorism and Illicit Finance

    WASHINGTON, D.C. - 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... Read more

  • Waters Statement at Long Requested Hearing on the State of Homelessness
    Posted in Press Releases on May 17, 2018 | Preview rr
    Tags: Subcommittee on Housing and Insurance, HUD, Homelessness

    Today, the House Financial Services Committee Subcommittee on Housing and Insurance held a hearing entitled, “An Overview of Homelessness in America.” For years, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Committee Democrats, have called on the Committee to hold a hearing on homelessness. Today marks the first time Committee Republicans have held a hearing on this important issue during Chairman Jeb Hensarling’s (R-TX) tenure. “Mr. Chairm... Read more

  • Waters Introduces Legislation to Expand Housing Assistance for Foster Youth
    Posted in Press Releases on May 16, 2018 | Preview rr
    Tags: Subcommittee on Housing and Insurance, HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced the Expanding Housing Opportunities for Foster Youth Act of 2018, a bill to provide a more sustainable solution for young people who are transitioning out of foster care and in need of a place to call home. This bill would permanently reauthorize $200 million annually towards the Department of Housing and Urban Development’s Family Unification Program (FUP), which is estimated to pr... Read more

  • Waters Introduces Resolution in Support of the Affordability of Subsidized Housing
    Posted in Press Releases on May 10, 2018 | Preview rr
    Tags: HUD

    Following U.S Department of Housing and Urban Development Secretary Ben Carson’s outrageous proposal to increase rent burdens on our nation’s most vulnerable populations, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced H.Res.886, a resolution that affirms the Brooke Rule, which ensures that families receiving federal housing assistance do not pay more than 30 percent of their adjusted income on rent, and remains a widely recognized stan... Read more

  • Waters Statement on Mulvaney’s Reorganization of the Consumer Financial Protection Bureau
    Posted in Press Releases on May 9, 2018 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    Today, in response to Director of the Office of Management and Budget Mick Mulvaney’s announcement that the Consumer Financial Protection Bureau (Consumer Bureau) will dramatically reorganize its operational structure, creating new offices and closing existing ones, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “This reorganization further politicizes the Consumer Bureau and sends a clear signal that political appoi... Read more

  • Waters Statement on Trump’s Withdrawal from Iran Nuclear Deal
    Posted in Press Releases on May 8, 2018 | Preview rr
    Tags: International

    Today, in response to the Trump Administration’s announcement that the United States will withdraw from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “President Trump’s announcement today that he is withdrawing the U.S. from the Iran nuclear deal—and imposing the highest level of sanctions—will undermine U.S. national security and globa... Read more

  • Waters: S.J. Res. 57 Sets Back Efforts to Prevent Discriminatory Auto Lending and Harms Consumers
    Posted in Press Releases on May 8, 2018 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to S.J. Res. 57, an unprecedented Congressional Review Act resolution to repeal and permanently block guidance from the Consumer Financial Protection Bureau (Consumer Bureau) on indirect auto financing. As Prepared for Delivery Mr. Speaker, I rise today in opposition to S.J Res. 57, a Congressional Review Act resolution to repeal important guidance on... Read more

  • Waters to Mulvaney: Provide Records on Interactions with Lobbyists
    Posted in Press Releases on April 27, 2018 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Office of Management and Budget Director Mick Mulvaney, who was illegally appointed by President Trump as Acting Director of the Consumer Financial Protection Bureau (Consumer Bureau). In the letter, Ranking Member Waters requested all records regarding Mulvaney’s interactions with representatives of any entity that is regulated by the Consumer Bureau. This request comes on th... Read more

  • Waters Slams Carson’s Outrageous Proposal to Increase Rents for Low-Income Families
    Posted in Press Releases on April 26, 2018 | Preview rr
    Tags: HUD

    Today, in response to the U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson’s proposal to limit federal housing assistance and impose additional burdens on our nation’s most vulnerable populations, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “Secretary Carson’s proposal to impose work requirements, rent increases and other burdens for America’s low-income families is reprehensible. “It’s ... Read more

  • Waters Statement on Regulators’ Enforcement Action Against Wells Fargo
    Posted in Press Releases on April 20, 2018 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    Today, in response to the announcement that the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency will each impose a $500 million penalty against Wells Fargo for its auto insurance and mortgage lending abuses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Wells Fargo has a terrible track record of harming consumers and deserves every punishment they have received and more. Under the l... Read more



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