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… Read more »

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… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Supreme Court’s announcement that it will review the Fifth Circuit’s ruling in the case of Consumer Financial Protection Bureau v. Community Financial Services Association of America. “The Consumer Financial Protection Bureau is a popular and… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee Markup.  Today, we are marking up bills that both Committee Democrats and Republicans have worked on together to reach agreement. Notably, most of these bills aim to hold the Chinese government accountable. With that… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee sent a letter to Chairman Patrick McHenry (R-NC) urging the Chair to immediately ensure the presence of founder and former CEO of FTX, Sam Bankman-Fried, as well as other executives involved with FTX schemes, at a hearing before the Committee regarding events that led to the collapse. In… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement applauding the Consumer Financial Protection Bureau’s (CFPB) recently proposed rule that would reduce credit card late fees from as much as $41 to $8. “I applaud Director Chopra and the Consumer Financial Protection Bureau for their latest effort to… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, delivered the following statement at a Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “Revamping and Revitalizing Banking in the 21st Century.” Thank you, Chairman Barr. I’m very pleased we are considering reforming the banking sector because consumers… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, delivered the following statement at a full Committee hearing entitled, “Combating the Economic Threat from China.” Thank you, Mr. Chairman. As we discuss how to bolster our economy and to counter threats from China, I’d like to start by saying that if House Republicans continue… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee sent a letter to Chairman Patrick McHenry (R-NC) urging the Chair to move promptly to convene a hearing to discuss how Congress will act to protect the creditworthiness of the United States, along with the dire and lasting economic consequences that will follow if Congress fails to do so.… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the Financial Services Committee, delivered a speech on the House floor opposing H.Con.Res.9 “Denouncing the horrors of socialism.” Mr. Speaker, yesterday in the Committee on Financial Services we organized and considered the Committee’s oversight plan. We debated homelessness and the lack of affordable housing, how to best… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services, delivered the following opening statement at the full Committee organizational meeting where the Committee approved the Subcommittee leadership and membership, the Committee Rules, and the oversight plan for the 118th Congress: Today, we will be formally establishing our subcommittee leadership and… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, delivered the following testimony in front of the Rules Committee on the resolution entitled, “Denouncing the Horrors of Socialism.” Thank you. Chairman Cole, Ranking Member McGovern and Members of the Committee, the American public is going to wonder why Republicans are wasting our time… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced membership for the Democratic caucus on the House Committee on Financial Services for the 118th Congress, which is subject to approval by the House Democratic Steering and Policy Committee: Subcommittee on Capital Markets Representative Brad Sherman (CA-32), Ranking… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, announced passage of the following bills under suspension of the rules: H.R. 582, "Credit Union Board Modernization Act" is a bill offered by Representative Juan Vargas (D-CA) that would amend the Federal Credit Union Act to modify the frequency of meetings held by a credit union’s… Read more »

Following the White House’s release of a Renter’s Bill of Rights Blueprint, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “I applaud the Biden Administration’s historic release of its blueprint for a Renters Bill of Rights. As housing prices have skyrocketed by nearly 20% during the pandemic, many U.S.… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic Committee members selected by the House Democratic Steering and Policy Committee to serve on the House Financial Services Committee: Democratic Members on the Financial Services Committee for the 118th Congress: Maxine Waters, California, Ranking… Read more »

Following the Department of Housing and Urban Development’s release of a new proposed rule on Affirmatively Furthering Fair Housing (AFFH), Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “After years of targeted efforts to sabotage our nation’s Fair Housing Act, wage war on the civil rights of our… Read more »

Following news that Wells Fargo will be dramatically shrinking its home lending business and narrowing its focus to mortgage lending for existing customers and borrowers in communities of color, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “After a string of abusive practices, years of breaking the… Read more »

Following news that Committee Republicans plan to eliminate the Diversity and Inclusion Subcommittee first established by then-Chairwoman Waters in 2019, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “I am deeply disappointed and disturbed to hear that Committee Republicans plan to eliminate the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released a report highlighting the historic and transformational work that Committee Democrats achieved under her leadership for both the 116th and 117th Congresses. During a global pandemic, a worsening housing crisis and a widening racial-wealth gap, Committee Democrats have consistently… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Chair of the Federal Trade Commission, Lina Khan, urging robust review of the proposed 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. In the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the victories that the Committee successfully secured in the Fiscal Year 2023 Omnibus Appropriations bill —legislation that provides $1.7 trillion to fund the Federal Government. The legislation includes several priorities of Democratic members of the Financial Services Committee… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the statement below following news that the Consumer Financial Protection Bureau (CFPB) ordered Wells Fargo Bank to pay $3.7 billion for widespread consumer fraud and abuse. “I am very pleased that the Consumer Financial Protection Bureau, under the leadership of Director Rohit… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the statement below following news that the Public Company Accounting Oversight Board (PCAOB) determined that it has gained complete and unfettered access to be able to inspect China-based and Hong Kong-based PCAOB-registered accounting and audit firms.  “I am pleased that… Read more »

On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee held a hearing entitled, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.” where CFPB Director, Rohit Chopra, testified before the Committee as part of the agency’s semi-annual report to Congress. During the hearing, Chairwoman Waters and Committee… Read more »