Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, accepted an award from the International Financial Law Review, who honored Waters’ decades-long leadership advancing regulatory reform in Congress with the “Outstanding Contribution to Regulatory Reform” award. Specifically, this award reflects accomplishments in bringing to market or shaping,… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Department of Housing and Urban Development (HUD) and the Chicago Housing Authority (CHA) expressing concern about HUD’s recent approval of a Section 18 land disposition application submitted by CHA, which will allow CHA to move forward with plans to lease vacant public… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Biden’s nominations to the Board of Governors of the Federal Reserve System: “I applaud the Biden Administration for its recent nominations to the Federal Reserve Board of Governors. If confirmed, these nominees will go a long way in… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to First Citizens Bank following its acquisition of Silicon Valley Bank (SVB) on March 26th. In the letter, Waters urges First Citizens to ensure the continued implementation of SVB’s $11.2 billion Community Benefits Plan, which SVB agreed to in 2021 and is aimed at providing… 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 Prudential Regulators.” Good morning, everyone. First, I’d like to welcome our banking and credit union regulators who are here to testify before our Committee today. On the heels of the collapse of… Read more »

Today, Congresswoman Maxine Waters (D-CA-43), the top Democrat on the House Financial Services Committee and U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, led 144 current and former Members of Congress, including Democratic Leader Hakeem Jeffries (D-NY), Speaker Emerita Nancy Pelosi (D-CA) and 100 other current and former Members… 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, sent a letter to the Consumer Financial Protection Bureau (CFPB) following the agency’s move to finalize small business lending rules implementing Section 1071 of the Dodd-Frank Act, a… Read more »

In a new opinion piece published this morning in the HuffPost, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, shared her thoughts on the brutal murder of Jordan Neely earlier this month. In the op-ed, Waters fiercely condemns the brutality and criminalization that people experiencing homelessness are unjustly met with and calls for… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during an Oversight and Investigations Subcommittee hearing entitled, “Oversight of Silicon Valley Bank and Signature Bank: GAO’s Preliminary Review.” I thank the GAO for the preliminary review it issued at my and Chair McHenry’s request on… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a joint Financial Services and Agriculture Subcommittee hearing entitled, “The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets.” “Last Congress, I focused the efforts of this Committee around… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee and Senator Mark R. Warner (D-VA), sent a letter to the Environmental Protection Agency (EPA) urging them to ensure that investments through the Greenhouse Gas Reduction Fund (GGRF), a key Inflation Reduction Act program, serve to strengthen diverse-owned financial institutions dedicated… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Reserve’s Federal Open Market Committee (FOMC) decision to raise interest rates by a quarter of a percentage point. “Less than a month from a catastrophic default on our nation’s debt due to Republicans’ reckless games and two days after… Read more »

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 act quickly to schedule a hearing with the CEOs of Silicon Valley Bank, Signature Bank and First Republic. In the letter, Ranking Member Waters highlights a series of concerns with the role that these CEOs played in the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Housing Finance Agency’s announced change to loan-level price adjustments (LLPAs). “I applaud the Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, for updating the pricing framework of Fannie Mae and… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following news that the California Department of Financial Protection and Innovation (DFPI) seized First Republic and was sold by the Federal Deposit Insurance Corporation (FDIC) early Monday morning: “I commend the Federal Deposit Insurance Corporation (FDIC)… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a Subcommittee hearing on Digital Assets, Financial Technology and Inclusion entitled, “The Future of Digital Assets: Identifying the Regulatory Gaps in Digital Asset Market Structure." Last week, I questioned SEC’s Chair Gensler if the agency has… 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. Last month our nation’s economy was rocked by two of the largest bank failures in U.S. history – Silicon Valley Bank and Signature Bank. These failures harmed small businesses everywhere. But we are not here… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered a floor speech denouncing Speaker McCarthy’s extremist debt ceiling bill: See an excerpt of the speech below, and the full speech HERE. “Thank you very much, Congressman Jackson. “In just a matter of months, the United States is on track to default on its debt for the first… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic Committee members selected to be Vice Ranking Members for the 118th Congress: Congresswoman Sylvia Garcia, Texas – Vice Ranking Member of the Full Committee Congressman Sean Casten, Illinois – Vice Ranking Member of the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Service Committee, released this statement following the latest move by the Financial Stability Oversight Council (FSOC) – which sits within the U.S. Department of Treasury – to rescind former U.S. Treasury Secretary’s guidance on nonbank systemically important financial institutions (SIFIs). “When… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a Subcommittee hearing on Digital Assets, Financial Technology and Inclusion entitled, “Understanding Stablecoins' Role in Payments and the Need for Legislation.” Thank you very much, Chair Hill and Ranking Member Lynch, and I thank all the… 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 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 »