Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Biden Administration’s move to award over $1.73 billion in grants to 603 community development financial institutions (CDFIs), including several minority depository institutions (MDIs), across the country through the CDFI Fund’s Equitable Recovery… 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, “Oversight of the Securities and Exchange Commission.” As prepared for delivery Good morning and welcome, Chair Gensler.  Right now, our financial system is still recovering from the sudden collapse of… 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 move to issue a final rule implementing small business loan data collection and reporting requirements under Section 1071 of the Dodd-Frank Act, a provision that Waters drafted in 2010. “I commend Director… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, joined a bipartisan, bicameral group of lawmakers in sending a letter to Treasury Secretary Janet Yellen and Financial Crimes Enforcement Network (FinCEN) acting Director Himamauli Das regarding the Treasury Department’s Notice of Proposed Rulemaking (NPRM) on Beneficial Ownership… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Biden’s call to regulators to reverse deregulatory measures enacted by former President Trump to weaken bank safeguards and supervision. “I applaud President Biden for urging our nation’s regulators to take immediate action to reverse the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Congresswoman Nydia Velázquez (D-NY), the top Democrat on the House Small Business Committee, released this statement following the Consumer Financial Protection Bureau’s move to issue its final rule implementing the small business data requirements of Section 1071 of the Dodd-Frank… 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 Regulators' Response to Recent Bank Failures.” Good morning. I’d like to thank Chairman McHenry for working with me in a bipartisan way on investigating the failures of Silicon Valley Bank and… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Second Circuit Court of Appeals’ ruling that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional.  “The decision by the Second Circuit told us what we already know: the Consumer Financial Protection Bureau… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Department of Housing and Urban Development’s (HUD) reinstatement of the 2013 Disparate Impact Rule, which implements disparate impact protections under the Fair Housing Act of 1968. “From rooting out discriminatory algorithms and financial… 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 at 10:00 AM ET on March 29, 2023. This will be the first of… Read more »

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 »