Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Acting Comptroller of the Office of the Comptroller of the Currency (OCC) urging the OCC to consider taking additional actions to hold the bank accountable, including downgrading Citi’s Community Reinvestment Act (CRA) rating. The CRA is a crucial tool used by the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the release of a new report by the Congressional Budget Office entitled, “Flood Damage and Federally Backed Mortgages in a Changing Climate.” “I’ve long sounded the alarm on the effects of climate change, and the Congressional Budget Office’s (CBO)… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee hearing entitled, “Oversight of Prudential Regulators.” Good morning and thank you Mr. Chairman for holding this hearing, continuing the tradition that Democrats started in holding semi-annual hearings to provide… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic-led and bipartisan bills that passed during this week’s full committee markup. Next, these bills will await passage on the House floor. H.R. 6365, the “Stopping Illicit Oil Shipments Act of 2023” led by Ranking Member Maxine Waters (D-CA). This… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee markup. Good morning. On October 7th, Hamas launched a deadly attack against the people of Israel, resulting in the death of more than 1,400 Israelis, as well as over 30 Americans. I again condemn Hamas for this… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s proposed rule that would subject digital payments apps to the same supervisory examinations the bureau conducts on banks and credit unions. “I applaud the Consumer Financial Protection Bureau (CFPB) under… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation.” We are 10 days away from a… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Biden Administration’s latest Department of Labor (DOL) “Retirement Security” rule proposal. “I welcome the Biden Administration’s and the Department of Labor’s (DOL) release of the ‘Retirement Security’ rule proposal, which will strengthen… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent this letter to Gary Gensler, Chair of the U.S. Securities and Exchange Commission (“the Commission”) urging the Commission to move quickly to finalize its proposed rule from 2021 to improve the quality of climate related disclosures in our capital markets. Since the Commission… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered opening remarks for the United States Treasury's Annual Freedman’s Bank forum for a panel entitled, “Scaling Underserved Businesses through Capital and Ecosystem Support” to discuss the progress that’s been made to deliver capital and technical assistance to help… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Board of Governors of the Federal Reserve System (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency’s (OCC) final rule to strengthen the Community Reinvestment Act, which requires banks to lend… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) notice of proposed rulemaking entitled, “Personal Financial Data Rights,” which if finalized would implement Section 1033 of the Dodd-Frank Act regarding consumer data rights and market competition. The… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Senate’s vote to block the Consumer Financial Protection Bureau’s (CFPB) small business lending data collection rule. The CFPB has long been supported by Congresswoman Waters and is the only federal agency dedicated to protecting consumers from a… Read more »

This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, accepted the 2023 Community Development Financial Institutions (CDFI) Congressional Champion Awards from the Opportunity Finance Network. This award honors Members of Congress who have been leaders in support of the CDFI industry.       “It’s an honor to receive… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Biden Administration’s latest action to crack down on junk fees and bring down costs for American consumers. “I applaud President Biden, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, and Federal Trade Commission (FTC)… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Service Committee released this statement following oral arguments this week in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA), regarding the constitutionality of the agency’s independent funding structure. “As the Solicitor General made clear… 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 hearing entitled, “Oversight of the Securities and Exchange Commission.” Good morning. The Chairman just indicated that his patience is running thin, mine is thinner with the opposite side of the aisle and extreme MAGA… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic-led and bipartisan bills that passed during this week’s full Committee markup. H.R. 5523, the “Financial Access Improvements Act” led by Ranking Member Maxine Waters (D-CA). This bill would add optional components to the State Department’s… 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. When I was Chairwoman of this Committee last Congress, this Committee came together after Russia’s unprovoked invasion of Ukraine, to craft bipartisan legislation aimed at protecting Ukraine and holding Russia… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences.” Here we go again. Instead of marking up sensible bills that have bipartisan… Read more »

In a new opinion piece published today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, reflects on the 15th anniversary of the 2008 financial crisis and the lasting impact it had on families everywhere. Specifically, Congresswoman Waters emphasizes the particular importance of the anniversary of this crisis as the Supreme Court gears up to… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee hearing on Financial Institutions entitled, “Implementing Basel III: What’s the Fed’s Endgame?" We certainly did receive  a wake-up call this Spring with the failures of Silicon Valley Bank, Signature Bank, and First… 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 hearing entitled, “Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States.” Good morning. My Democratic colleagues and I have… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Senate’s confirmation of Federal Reserve Governor Lisa Cook to continue serving on the Board of Governors of the Federal Reserve System (Fed) for a full term, Dr. Adriana Kugler to serve on the Fed’s Board of Governors, and Governor Phillip Jefferson… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the United States Department of the… Read more »