Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced legislation that would help prevent foreclosures for the Federal Housing Administration’s (FHA) borrowers by strengthening requirements for and increasing oversight of FHA mortgage servicers so that every homebuyer with an FHA mortgage is given a fair chance at avoiding… Read more »

In response to the Federal Emergency Management Agency’s (FEMA) report entitled, “An Affordability Framework for the National Flood Insurance Program,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following statement: “I am pleased that FEMA has finally delivered the affordability framework that I and other Members enacted in the… Read more »

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 Thank you, Mr. Chairman, and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4790, the third bill on the House floor this week that would provide a giveaway to Wall Street megabanks. H.R. 4790 is the latest attempt by Republicans to weaken the Volcker Rule, a cornerstone of Wall Street reform that prevents banks… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on the Financial Services, made the following statement on the 50th Anniversary of the signing of the Fair Housing Act: “Today, we mark the 50th anniversary of the Fair Housing Act, which is one of the most important pieces of legislation attributed to Dr. Martin Luther King, Jr.’s legacy of fighting for equal… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement on H.R. 4061, the so-called “Financial Stability Oversight Council Improvement Act. This bill would undermine efforts mandated in the Dodd-Frank Act to mitigate the risks posed to the economy by large nonbank firms, like AIG, Lehman Brothers and Bear… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement on H.R. 4293, another Dodd-Frank rollback bill that would make it easy for Wall Street banks to get a passing grade on their stress tests. H.R. 4293 would effectively weaken a critical tool that protects Americans by ensuring large banks are adequately… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full committee hearing entitled “The 2018 Semi-Annual Report of the Bureau of Consumer Financial Protection.” As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, let me say at the outset that Mr. Mulvaney is not the Acting Director of the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to Brian Moynihan, Chairman and CEO of Bank of America, about the bank’s recent decision to eliminate free checking accounts for “eBanking” customers. Ranking Member Waters noted the potential impact of the decision on the unbanked population, which comes at a time of record… Read more »

Following the announcement that John Williams will serve as the next president of the Federal Reserve Bank of New York, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “John Williams is an accomplished economist with a long history in public service. His wealth of experience as a leading monetary policy… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, led two letters to House appropriators in support of her ongoing effort to fight for victims of natural flood disasters. She was joined by Congressman Charlie Crist (D-FL) in co-leading a letter that calls for the forgiveness of the National Flood Insurance Program’s (NFIP) debt. She also co-led… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, led four separate letters to Congressional appropriators highlighting the importance of federal housing programs that serve the country’s most vulnerable populations. In the letters, Ranking Member Waters urged her colleagues to increase funding for the following rental and homeless assistance… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Ed Royce (R-CA), Congresswoman Joyce Beatty (D-OH), and Congressman Steve Stivers (R-OH), introduced the Working Together to End Homelessness Act of 2018, bipartisan legislation to repeal the sunset date for the U.S. Interagency Council on Homelessness (USICH). “It is shameful… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a statement on a new Government Accountability Office (GAO) report titled, “Rental Assistance Demonstration: HUD Needs to Take Action to Improve Metrics and Ongoing Oversight” (GAO-18-123). The GAO report was requested in 2015 by Ranking Member Waters to review the first component of… Read more »

In response to the U.S. Court of Appeals for the Fifth Circuit’s ruling to vacate the U.S. Department of Labor’s fiduciary rule, 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 Dan Kildee (D-MI), Vice Ranking Member of the House… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4545, a bill that makes it more likely that bad actors, including megabanks and predatory lenders, would avoid or delay accountability when they break federal law. As Prepared for Delivery Mr. Speaker, H.R. 4545 is yet another… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4263, the so-called Regulation A+ Improvement Act, a bill that could harm retail investors and weaken the integrity of the U.S. capital markets. As Prepared for Delivery H.R. 4263, the so-called Regulation A+ Improvement Act, is a… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 1116, the so-called “Taking Account of Institutions with Low Operation Risk Act of 2017” or the TAILOR Act, a bill that directs financial regulators to prioritize reducing costs for financial institutions, including megabanks, over… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the passage of S. 2155, a harmful bank deregulation bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act: “As I have said before, this bill repackages harmful provisions… Read more »

At a House Financial Services Committee markup to consider the Committee’s Budget Views and Estimates for Fiscal Year 2019, Committee Democrats offered a series of amendments and challenged Republicans to stand up for hardworking Americans and support vulnerable families. Amendments were offered by Ranking Member Maxine Waters (D-CA), Rep. Nydia Velazquez (D-NY), Rep. Stephen Lynch… Read more »

As the U.S. Senate debates S. 2155, a bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement: “As I have said before, this bill repackages harmful provisions from Financial Services Committee… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full Committee markup to consider the Majority's Views and Estimates on the Budget for FY 2019: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, Committee Democrats are committed to advancing policies that create shared prosperity and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4607, a bill that directs regulators, including the Consumer Financial Protection Bureau, to dismantle rules considered inconvenient by the financial services industry despite the harm it may cause consumers or the economy. As… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4296, a bill to decrease operational risk capital requirements for the nation’s largest banks: As Prepared for Delivery Mr. Speaker, I rise in strong opposition to H.R. 4296. This bill is simply another rollback of rules put in… 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: As Prepared for Delivery Thank you, Mr. Chairman and welcome, Chairman Powell. I look forward to your testimony… Read more »