Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” As it stands, America’s workers, small businesses, and communities are feeling the impacts of persistent inflation, an… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement at a full Committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.”  Good morning, everyone. I would like to welcome Vice Chair Barr, Acting Chairman… Read more »

Today, the Chairwoman of the House Financial Services Committee, Congresswoman Maxine Waters (D-CA), and the Ranking Member of the House Financial Services Committee, Congressman Patrick McHenry (R-NC), announced a bipartisan hearing into the collapse of FTX and the broader consequences for the digital asset ecosystem. In December, the Committee expects to hear from the companies and… Read more »

Congresswoman Maxine Waters (D-CA) Chairwoman of the House Committee on Financial Services, delivered the following statement at a Subcommittee on Investor Protection, Entrepreneurship and Capital Markets hearing entitled, “Investing in our Rivals: Examining U.S. Capital Flows to Foreign Rivals and Adversaries Around the World.” Each year, billions of dollars of capital from the U.S.… Read more »

Congresswoman Maxine Waters (D-CA) Chairwoman of the House Committee on Financial Services, delivered the following statement at a subcommittee hearing on Housing, Community Development and Insurance entitled, “Persistent Poverty in America: Addressing Chronic Disinvestment in Colonias, the Southern Black Belt, and the U.S. Territories.” Thank you very much Mr. Cleaver for this… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of November:  Tuesday, November 15 at 10 a.m. ET: The Subcommittee on Housing, Community Development, and Insurance will convene for a hybrid hearing entitled, “Persistent Poverty in America: Addressing Chronic Disinvestment in… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to the Department of Housing and Urban Development (HUD) expressing concerns about HUD’s current draft solicitation for Housing Assistance Payments (HAP) Contract Support Services and its negative impact on mission-driven Performance Based Contract Administrators (PBCAs), like LA… Read more »

Following the Federal Reserve’s recent decision to increase the federal funds rate by 0.75 percent to a target range of 3.75 percent to 4 percent – marking the sixth consecutive rate hike and the fourth consecutive super-sized rate hike in just the past eight months – today Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Federal… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, joined Professor Chris Brummer, Professor at Georgetown University Law Center and founder of DC Fintech Week, at his annual DC Fintech Week to discuss financial technology and the future of finance. Since assuming the Chair in 2019, Chairwoman Waters and the Committee have been leading the… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced passage of the following bills under suspension of the rules: H.R. 6889, the “Credit Union Board Modernization Act” is a bill offered by Representative Juan Vargas (D-CA) that would reduce the minimum number of board of director meetings for Federal credit unions that are highly… Read more »

Following the devastating impact of Hurricane Fiona that has displaced millions of families across Puerto Rico, today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congresswoman Nydia M. Velázquez (D-NY), Chairwoman of the House Committee on Small Business, sent a letter to President Biden calling on the administration to remain steadfast… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released the following statement in response to World Bank President David Malpass’s refusal to accept the scientific consensus that the burning of fossil fuels is dangerously warming the planet: “President Malpass’s refusal to accept the overwhelming scientific consensus that human… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full committee hearing entitled, “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.” With an ongoing pandemic, rising interest rates and Russia’s invasion of Ukraine, economic conditions for families are worsening. During today’s hearing, Committee… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, joined Vice President Kamala D. Harris, Treasury Secretary Janet L. Yellen, and Senator Mark Warner (D-VA) to announce that the Biden-Harris Administration has made over $8.28 billion of investments through the Emergency Capital Investment Program (ECIP) to benefit community financial… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement at a full Committee hearing entitled, “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.” Testifying before us today, we have the CEOs of the seven largest U.S. commercial banks that each serve millions of consumers. As… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement at a Subcommittee on Diversity and Inclusion hearing entitled, “A Review of Diversity and Inclusion at America’s Largest Insurance Companies.” Thank you so very much, Chair Beatty. I am proud that we are releasing a third in an unprecedented series of reports… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement at a Subcommittee on National Security, International Development, and Monetary Policy hearing entitled, “Under the Radar: Alternative Payment Systems and the National Security Impacts of Their Growth.” Thank you very much, Chairman Himes, for convening this… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, and Congresswoman Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion, released a Majority staff report entitled, “Diversity and Inclusion: Holding America’s Largest Insurance Companies Accountable.” On Tuesday, September 20, the Subcommittee on Diversity and Inclusion will hold a… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full committee hearing this week entitled, “When Banks Leave: The Impacts of De-Risking on the Caribbean and Strategies for Ensuring Financial Access.” The hearing kicked off with a historic testimony from Barbados Prime Minister, Mia Amor Mottley, on the harmful effects of de-risking… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services introduced H.R. 8833, the “Making Communities Stronger Through the Community Reinvestment Act.” This transformative piece of legislation is a part of Chairwoman Waters’ continuing efforts to root out discrimination in our modern-day banking system and close the racial wealth and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the September 21, 2022, full Committee hearing entitled, “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.”  The hearing witnesses include: Andy Cecere, Chairman, President, and Chief Executive… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hybrid hearing entitled, “When Banks Leave: The Impacts of De-Risking on the Caribbean and Strategies for Ensuring Financial Access.” I would like to welcome the Prime Minister of Barbados, the Honorable Mia Amor Mottley, to the Financial… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of September: POSTPONED -Thursday, September 8 at 12 p.m. ET: The Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets will convene for a virtual hearing entitled, “Accounting Standards in the 21st Century.” … Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following floor speech on the Inflation Reduction Act: I rise in recognition of the very long and difficult negotiations that have taken place following the Build Back Better Act led by President Biden and the Democrats. I applaud the beneficiaries of the reconciliation… Read more »

Following recent news that Equifax sent lenders inaccurate credit scores on millions of consumers, potentially resulting in consumer harm, such as being charged higher interest rates or wrongly having their credit applications denied, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Equifax and a letter to the CEOs of the nation’s… Read more »