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  • Waters Introduces Legislation to Put Consumers First
    Posted in Press Releases on October 2, 2018 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, announced the introduction of H.R. 6972, the Consumers First Act, a bill to block the Trump Administration’s anti-consumer agenda and reverse their efforts, led by Mick Mulvaney, Director of the Office of Management and Budget, to dismantle the Consumer Financial Protection Bureau. This legislation is co-sponsored by Rep. Carolyn Maloney (D-NY), Rep. William Lacy Clay (D-MO), Rep. Al Green (D-... Read more

  • Waters Leads Call for Committee to Investigate Failures to Protect Student Loan Borrowers at the CFPB
    Posted in Press Releases on October 1, 2018 | 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 and 12 Members of Congress, sent a letter to Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, urging him to use the full range of the Committee’s oversight authorities to conduct a formal investigation into allegations raised by Seth Frotman, former Assistant Director and Student Loan Ombudsman at the Consumer Financial Protection Bureau. In an August 2018 ... Read more

  • Waters Statement at Federal Housing Finance Agency Oversight Hearing
    Posted in Press Releases on September 27, 2018 | Preview rr
    Tags: GSE, FHFA

    Today, at a hearing entitled, “Oversight of the Federal Housing Finance Agency’s role as conservator and regulator of the Government Sponsored Enterprises,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, gave the following statement: As Prepared for Delivery Thank you very much, Mr. Chairman. We are here today for a hearing on oversight of the Federal Housing Finance Agency’s (FHFA) role as conservator and regulator of the Government Sponsored Enter... Read more

  • Waters Calls on World Bank to Discontinue Support for the Government of Myanmar
    Posted in Press Releases on September 26, 2018 | Preview rr
    Tags: International

    Following the release of a September 2018 United Nations (UN) Independent International Fact-Finding Mission on Myanmar report detailing horrific acts of ethnic cleansing and genocide against the Rohingya population, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Dr. Jim Yong Kim, President of the World Bank Group, expressing concerns about the World Bank’s ongoing support for the government of Myanmar. “If the World Bank continu... Read more

  • Waters, Perlmutter and 17 Other Democrats Call on Fed to Maintain Capital Requirements for Megabanks
    Posted in Press Releases on September 21, 2018 | Preview rr
    Tags: Federal Reserve

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Ed Perlmutter (D-CO), Ranking Member of the House Committee on Financial Services Subcommittee on Terrorism and Illicit Finance, led a letter signed by 19 Members of Congress urging the Federal Reserve to maintain strong capital requirements for Global Systemically Important Banks (G-SIBS). “Strong capital requirements are the cornerstone of an effective regulatory regime that ... Read more

  • Waters Statement on the 10th Anniversary of the 2008 Financial Crisis
    Posted in Press Releases on September 14, 2018 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    Today, in commemoration of the 10th anniversary of the 2008 financial crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The 2008 financial crisis was the worst financial disaster since the Great Depression, inflicting widespread, devastating costs on millions of American families,” said Ranking Member Waters. “All told, more than $13 trillion of household wealth vanished, 11 million individuals were displaced f... Read more

  • Waters: Trump Would Rather Put Children in Cages Than Prepare Nation For Natural Disasters
    Posted in Press Releases on September 13, 2018 | Preview rr
    Tags: Flood Insurance

    Today, in response to the release of documents showing the transfer of $9.8 million in Federal Emergency Management Agency (FEMA) emergency preparedness funding to Immigration and Customs Enforcement (ICE) for its detention centers, Congresswoman Maxine Waters (D-CA), made the following statement: “The Trump Administration’s transfer of $9.8 million in FEMA emergency preparedness funding to ICE for its detention centers at the beginning of this year’s hurricane season is a travesty. This Preside... Read more

  • Waters, Scott, Brown and Murray Call on SEC to Increase Investor Protections
    Posted in Press Releases on September 12, 2018 | Preview rr
    Tags: SEC

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking Committee, and Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor and Pensions Committee, sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton urging the SEC to revise i... Read more

  • Waters Statement at Hearing on Republicans’ Failure to Act on Housing Finance Reform
    Posted in Press Releases on September 6, 2018 | Preview rr
    Tags: Full Committee, GSE

    Today, at a full Committee hearing entitled, “A Failure to Act: How a Decade without GSE Reform Has Once Again Put Taxpayers at Risk,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement: As Prepared for Delivery “Thank you, Mr. Chairman. Mr. Chairman, this hearing will focus on the failure to reform our housing finance system. I would point out that Republicans control the House, the Senate, and the White House, and there... Read more

  • Waters Statement at Bipartisan Conference Committee Meeting on Farm Bill
    Posted in Press Releases on September 5, 2018 | Preview rr
    Tags: Flood Insurance

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, participated in a 2018 Farm Bill Conference Committee meeting to discuss H.R. 2, the 2018 Farm Bill. During the discussion, Ranking Member Waters gave the following statement, urging her colleagues to protect Section 12609, which would extend the National Flood Insurance Program (NFIP) through January 31, 2019. As Prepared for Delivery I thank the Chair for the time, and I am honored to have b... Read more

  • Waters Calls on Hensarling to Hold Hearing with Otting on OCC Fintech Charter
    Posted in Press Releases on August 31, 2018 | Preview rr
    Tags: OCC

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Committee Chairman Jeb Hensarling requesting a hearing with Comptroller of the Currency Joseph Otting on the Office of the Comptroller of the Currency’s (OCC) decision to begin accepting special purpose national bank charter applications from non-depository financial technology (fintech) companies. “I believe that our financial system can, and must, do more to promote better a... Read more

  • Waters Statement on the OCC’s Advanced Notice of Proposed Rulemaking on CRA Modernization
    Posted in Press Releases on August 29, 2018 | Preview rr
    Tags: OCC

    Today, in response to the Office of the Comptroller of the Currency’s release of an Advanced Notice of Proposed Rulemaking (ANPR) seeking comment on modernizing the regulatory framework to implement the Community Reinvestment Act (CRA), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following comment: “Congress passed the Community Reinvestment Act (CRA) to combat redlining and discriminatory lending practices by requiring banks to help mee... Read more

  • Waters Statement on OCC Fintech Charter Announcement and Treasury Report
    Posted in Press Releases on August 1, 2018 | Preview rr
    Tags: OCC, Department of the Treasury

    Today, in response to the U.S. Department of Treasury’s regulatory report on financial technology (fintech) and the Office of the Comptroller of the Currency’s (OCC) announcement that it will accept applications for national bank charters from fintech companies, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “I am deeply concerned by the OCC’s announcement that it will begin accepting applications for national bank c... Read more

  • Waters Continues Push for Flood Insurance Reauthorization
    Posted in Press Releases on July 25, 2018 | Preview rr
    Tags: Flood Insurance

    Today, the U.S. House of Representatives passed S. 1182, the National Flood Insurance Program (NFIP) Extension Act, by a vote of 366-52. The NFIP provides flood insurance coverage to over 5 million Americans and S. 1182 would reauthorize the program through November 30. Last week, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, led a letter to House and Senate leadership demanding a long-term reauthorization of the NFIP. See her floor statement on... Read more

  • Waters: It Must be a Top Priority for This Committee to Improve the State of Housing in This Country
    Posted in Press Releases on July 24, 2018 | Preview rr
    Tags: HUD, Markup, Homelessness

    Today, at a House Financial Services Committee markup of seven bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Mr. Chairman, let me just say that I was encouraged by our bipartisan agreement on the JOBS Act 3.0 package, and the resulting House passage of the bill with overwhelming support last week. The JOBS and Investor Confidence Act of 2018 is evidence that we can come together to ... Read more

  • Waters and 61 Members Demand Long-Term Reauthorization of National Flood Insurance Program
    Posted in Press Releases on July 18, 2018 | Preview rr
    Tags: Flood Insurance

    In a letter to House and Senate leadership, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 61 Members of Congress called for a commitment to ensuring that homeowners, businesses and renters are able to protect their property in the face of flooding. “Following an historic 2017 hurricane season, which for the first time on record resulted in three Category 4 hurricanes making landfall in the United States, and facing the beginning of the 2018 ... Read more

  • Waters to Fed Chair: Trump’s Policies Threaten Economic Gains Put in Motion During the Obama Administration
    Posted in Press Releases on July 18, 2018 | Preview rr
    Tags: Full Committee, Federal Reserve

    Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman, and welcome Chairman Powell. Mr. Chairman, I am very concerned about the impact of the reckless economic policies of Donald Trump on hardworking Americans, vulnerable families, and our nation’s economy. ... Read more

  • Waters Statement on Bipartisan Legislation to Help Small Businesses and Protect Investors
    Posted in Press Releases on July 17, 2018 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, SEC, House Floor

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement in support of S.488, the JOBS and Investor Confidence Act of 2018, a bipartisan bill that facilitates access to capital for small businesses, increases protections for consumers and investors, fights the scourge of drug and human trafficking, and promotes financial stability. As Prepared for Delivery Mr. Speaker, this bill is an example of true bipartisanship... Read more

  • Waters and Hensarling Unveil Bipartisan Capital Markets Reform Legislation
    Posted in Press Releases on July 16, 2018 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, SEC, Federal Reserve, Money Laundering, FDIC, HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Jeb Hensarling (R-TX), Chairman of the House Committee on Financial Services, announced that they have reached an agreement on a package of strong, bipartisan capital-formation legislation to help America’s small businesses and entrepreneurs and to protect investors. The package, known as the “JOBS and Investor Confidence Act of 2018,” is comprised of 32 individual pieces of le... Read more

  • At Hearing on International Financial System, Waters Presses Mnuchin on Trump’s Trade War
    Posted in Press Releases on July 12, 2018 | Preview rr

    Today, at a hearing with Treasury Secretary Steven Mnuchin entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. I am looking forward to hearing Secretary Mnuchin’s testimony today on the state of the international financial system. I must admit that I... Read more

  • Waters Statement at Bipartisan Committee Markup
    Posted in Press Releases on July 11, 2018 | Preview rr
    Tags: Full Committee, SEC, Subcommittee on Capital Markets, Securities, and Investment, Markup

    Today, at a House Committee on Financial Services markup of bipartisan legislation, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, I want to thank you and Members of the Committee for considering six Democratic bills today that will ensure small businesses have increased access to capital, enhance investor protections and improve investors’ ability to ma... Read more

  • Waters Supports Passage of Eight Bipartisan House Bills
    Posted in Press Releases on July 11, 2018 | Preview rr

    Yesterday, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, supported eight bipartisan bills that were passed by the U.S. House of Representatives. Seven out of the eight bills were passed out of the House Committee on Financial Services. Ranking Member Waters played a leading role in the consideration of each of these overwhelmingly bipartisan bills. In addition to managing the House floor debate, Ranking Member Waters collaborated with the bills’... Read more

  • Waters Statement on Federal Reserve’s Approval to Reward Wells Fargo Executives
    Posted in Press Releases on July 2, 2018 | Preview rr
    Tags: Federal Reserve

    Today, in response to the Federal Reserve’s approval of Wells Fargo's capital plan to increase dividend payments by 10 percent and spend up to $24.5 billion on stock buybacks, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “I am troubled by the Federal Reserve’s recent decision to approve Wells Fargo’s capital plan to handsomely reward its shareholders, including the megabank’s senior executives, despite engaging in ... Read more

  • Ranking Members Press FEMA Administrator on Slow Hurricane Recovery Efforts in Puerto Rico
    Posted in Press Releases on June 29, 2018 | Preview rr
    Tags: HUD

    With the 2018 hurricane season underway and Puerto Rican families still struggling in the aftermath of Hurricanes Maria and Irma, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Congresswoman Nydia M. Velázquez (D-NY), Ranking Member of the House Committee on Small Business, Congressman Bennie G. Thompson (D-MS), Ranking Member on the House Committee on Homeland Security, and Congressman Richard Neal (D-MA), Ranking Member of the House Committee o... Read more

  • At Carson Hearing, Waters Condemns Trump Administration’s Problematic Housing Proposals
    Posted in Press Releases on June 27, 2018 | Preview rr
    Tags: Full Committee, HUD

    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 Department of Housing and Urban Development.” This hearing follows Waters’ introduction of legislation to restore fair housing protections eliminated by Secretary Carson: Thank you, Mr. Chairman Mr. Chairman, since Secretary Carson was last before this Committee, he has taken actions and issued proposals that ... Read more



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