Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency take steps to ensure the continued implementation of the Silicon Valley Bank’s (SVB) Community Benefits Plan (CBP) – which the bank agreed to in 2021 and is aimed at providing housing, small business, and… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Congressman Patrick McHenry (R-NC), Chair of the House Financial Services Committee, sent a letter to the Government and Accountability Office (GAO) calling on the office to begin a study and an investigation into the recent collapse of Silicon Valley Bank and Signature Bank.… Read more »

Today, the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), and the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held on March 29, 2023. This will be the first of multiple hearings… Read more »

Following the Biden Administration’s call to Congress to strengthen authorities for clawbacks, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the United States Federal Reserve System, Federal Deposit Insurance Corporation and the Securities and Exchange Commission announcing that she is crafting legislation to enhance… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the release of President Biden’s Fiscal Year 2024 budget request. “At a time when our nation’s affordable housing and homelessness crises worsen, I applaud the Biden Administration for its 2024 budget proposal which includes $73 billion in… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Trade Commission’s announcement to block the 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. “I applaud… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve, Treasury Department and the Federal Deposit Insurance Corporation (FDIC), announced new actions regarding Silicon… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Deposit Insurance Corporation’s closure of Silicon Valley Bank. “I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history. I am closely monitoring and convening Committee members with… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after House Republicans released a series of bills that would undermine the Consumer Financial Protection Bureau (CFPB), the only agency dedicated… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Good morning, Chair Powell. Since your last visit, our country, under the leadership of President Biden, has made major progress to improve economic… Read more »

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 »