Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full Committee hearing on the Federal Reserve’s supervision and regulation of the financial system with Randal Quarles, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System. As Prepared for Delivery Mr. Chairman, this is the first… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the 2018 midterm election results, which will give Democrats the majority in the U.S. House of Representatives next Congress: “With a Democratic majority in the House, and a mandate from the American public, the Financial Services Committee… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Congressman Tim Walz (D-MN), Ranking Member of the House Committee on Veterans’ Affairs; and Congressman Mark Takano (D-CA), Vice Ranking Member of the House Committee on Veterans’… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, announced the introduction of H.R. 6972, the Consumers First Act, a bill to block the Trump Administration’s anti-consumer agenda and reverse their efforts, led by Mick Mulvaney, Director of the Office of Management and Budget, to dismantle the Consumer Financial Protection Bureau. This… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services and 12 Members of Congress, sent a letter to Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, urging him to use the full range of the Committee’s oversight authorities to conduct a formal investigation into allegations raised by Seth Frotman, former… Read more »

Today, at a hearing entitled, “Oversight of the Federal Housing Finance Agency’s role as conservator and regulator of the Government Sponsored Enterprises,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, gave the following statement: As Prepared for Delivery Thank you very much, Mr. Chairman. We are here today for a hearing on oversight… Read more »

Following the release of a September 2018 United Nations (UN) Independent International Fact-Finding Mission on Myanmar report detailing horrific acts of ethnic cleansing and genocide against the Rohingya population, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Dr. Jim Yong Kim, President of the World Bank Group,… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Ed Perlmutter (D-CO), Ranking Member of the House Committee on Financial Services Subcommittee on Terrorism and Illicit Finance, led a letter signed by 19 Members of Congress urging the Federal Reserve to maintain strong capital requirements for Global Systemically… Read more »

Today, in commemoration of the 10th anniversary of the 2008 financial crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The 2008 financial crisis was the worst financial disaster since the Great Depression, inflicting widespread, devastating costs on millions of American families,” said Ranking Member… Read more »

Today, in response to the release of documents showing the transfer of $9.8 million in Federal Emergency Management Agency (FEMA) emergency preparedness funding to Immigration and Customs Enforcement (ICE) for its detention centers, Congresswoman Maxine Waters (D-CA), made the following statement: “The Trump Administration’s transfer of $9.8 million in FEMA emergency preparedness funding… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking Committee, and Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor and Pensions… Read more »

Today, at a full Committee hearing entitled, “A Failure to Act: How a Decade without GSE Reform Has Once Again Put Taxpayers at Risk,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement: As Prepared for Delivery “Thank you, Mr. Chairman. Mr. Chairman, this hearing will focus on the failure to reform our… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, participated in a 2018 Farm Bill Conference Committee meeting to discuss H.R. 2, the 2018 Farm Bill. During the discussion, Ranking Member Waters gave the following statement, urging her colleagues to protect Section 12609, which would extend the National Flood Insurance Program (NFIP)… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Committee Chairman Jeb Hensarling requesting a hearing with Comptroller of the Currency Joseph Otting on the Office of the Comptroller of the Currency’s (OCC) decision to begin accepting special purpose national bank charter applications from non-depository financial… Read more »

Today, in response to the Office of the Comptroller of the Currency’s release of an Advanced Notice of Proposed Rulemaking (ANPR) seeking comment on modernizing the regulatory framework to implement the Community Reinvestment Act (CRA), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following comment: “Congress passed the Community… Read more »

Today, in response to the U.S. Department of Treasury’s regulatory report on financial technology (fintech) and the Office of the Comptroller of the Currency’s (OCC) announcement that it will accept applications for national bank charters from fintech companies, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following… Read more »

Today, the U.S. House of Representatives passed S. 1182, the National Flood Insurance Program (NFIP) Extension Act, by a vote of 366-52. The NFIP provides flood insurance coverage to over 5 million Americans and S. 1182 would reauthorize the program through November 30. Last week, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, led a… Read more »

Today, at a House Financial Services Committee markup of seven bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Mr. Chairman, let me just say that I was encouraged by our bipartisan agreement on the JOBS Act 3.0 package, and the resulting House passage of the bill with… Read more »

In a letter to House and Senate leadership, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 61 Members of Congress called for a commitment to ensuring that homeowners, businesses and renters are able to protect their property in the face of flooding. “Following an historic 2017 hurricane season, which for the first time on record… Read more »

Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman, and welcome Chairman Powell. Mr. Chairman, I am very concerned about the impact of the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement in support of S.488, the JOBS and Investor Confidence Act of 2018, a bipartisan bill that facilitates access to capital for small businesses, increases protections for consumers and investors, fights the scourge of drug and human trafficking, and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Jeb Hensarling (R-TX), Chairman of the House Committee on Financial Services, announced that they have reached an agreement on a package of strong, bipartisan capital-formation legislation to help America’s small businesses and entrepreneurs and to protect investors. The… Read more »

Today, at a hearing with Treasury Secretary Steven Mnuchin entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. I am looking forward to… Read more »

Today, at a House Committee on Financial Services markup of bipartisan legislation, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, I want to thank you and Members of the Committee for considering six Democratic bills today that will… Read more »

Yesterday, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, supported eight bipartisan bills that were passed by the U.S. House of Representatives. Seven out of the eight bills were passed out of the House Committee on Financial Services. Ranking Member Waters played a leading role in the consideration of each of these overwhelmingly… Read more »