Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Randy Hultgren (R-IL), introduced a bipartisan bill to make a technical correction to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), and address an issue regarding the term of the Financial Stability Oversight Council (FSOC) independent… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, along with seven other Democratic Committee Members, reintroduced comprehensive legislation to preserve and revitalize the nation’s public housing stock. The measure, entitled the Public Housing Tenant Protection and Reinvestment Act Of 2017, ensures safe, decent, and affordable housing… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, blasted the FY 2018 Financial Services and General Government (FSGG) Appropriations bill, which includes many elements of the Wrong Choice Act, the Republican deregulatory measure to roll back Wall Street reform. “The Financial Services and General Government Appropriations bill has been… Read more »

Today, led by Ranking Member Maxine Waters (D-CA) and Subcommittee on Housing and Insurance Ranking Member Emanuel Cleaver (D-MO), all 26 Democratic Members of the Committee on Financial Services sent a letter to Chairman Jeb Hensarling requesting hearings with Ben Carson, Secretary of the U.S. Department of Housing and Urban Development (HUD), and Sonny Perdue, Secretary of the U.S.… Read more »

This week, a report in the Washington Post details Jared Kushner’s recent financial dealings with Deutsche Bank. The report comes on the heels of continued scrutiny of the bank from Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel T. Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, sent a letter to the Acting Inspector General of the U.S. Department of Housing and Urban Development (HUD), expressing concerns about President Trump’s conflicts of interest with regard to… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel T. Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, and… Read more »

Today, at the continuation of the House Financial Services Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement in support of Congresswoman Nydia Velázquez’s (D-NY) bill, H.R. 2875, the “National Flood Insurance Program (NFIP) Administrative Reform Act of 2017:” Thank you,… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement opposing President Trump’s official nomination of former Representative Scott Garrett, a staunch opponent of the Export-Import Bank (Ex-Im), to serve as its next president: “Despite all the claims Trump made over the course of his campaign, the selection of… Read more »

On the first day of the of the House Financial Services Committee markup of seven flood insurance bills, Committee Democrats fought for the availability and affordability of the National Flood Insurance Program (NFIP). “Democrats will offer amendments to provide the reauthorization language needed to keep the NFIP’s doors open and keep the real estate market from spiraling out of… Read more »

Today, at a Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman. Eight days ago, we gathered in this hearing room to discuss six legislative proposals to reform the National Flood Insurance Program. At that hearing, I once again called… Read more »

Last week, the U.S. House of Representatives voted on H.R. 10, also known as the Wrong Choice Act, a bill that prioritizes Wall Street over Main Street. While debating on the House floor, Democrats highlighted all the ways in which the Wrong Choice Act would be the wrong choice for consumers, investors, and the entire economy. Democrats also noted the thousands of individuals and groups… Read more »

Today, in response to a report from the U.S. Department of the Treasury which resulted from President Trump’s February Executive Order, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement: “Our nation’s economic security is in grave danger. The report released by Treasury is an attack on protections for consumers,… Read more »

Last week, Republicans in the U.S. House of Representatives passed the Wrong Choice Act, a bill that would put the needs of Wall Street above hardworking Americans. The Wrong Choice Act advances President Trump’s efforts to dismantle consumer protections for seniors, service members and people saving for their retirement; endanger market stability; and undercut financial regulators’… Read more »

Today, in response to House passage of H.R. 10, also known as the Wrong Choice Act, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, made the following statement: “It's shameful that Republicans have voted to do the bidding of Wall Street at the expense of Main Street and our economy. They are setting the stage for Wall Street to run amok and cause… Read more »

Today, during floor debate on H.R. 10, also known as the Wrong Choice Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery H.R. 10 is being called the Wrong Choice Act by the American public because this bill is truly the wrong choice for all of us. Indeed, this is one of the… Read more »

In another attempt to undermine the important work of the Consumer Financial Protection Bureau (Consumer Bureau or CFPB), Republicans on the House Committee on Financial Services issued a 13-page staff report that attempted to redirect blame away from Wells Fargo for their massive fraudulent account scandal and onto the Consumer Bureau. The report falsely accuses the Consumer Bureau of… Read more »

This week, the U.S. House of Representatives will vote on a bill that puts Wall Street’s special interests ahead of hardworking American consumers. The Financial Choice Act, also known as the Wrong Choice Act, paves the way right back to the dark days of the financial crisis by dismantling Wall Street reform. “The Wrong Choice Act is a vehicle for Donald Trump's agenda to get rid of… Read more »

Today, at a full Committee hearing to examine draft legislation to reauthorize the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters (D-CA)¸ Ranking Member of the Committee on Financial Services, urged Committee Members to work on a bipartisan long-term reauthorization package: As Prepared for Delivery Thank you, Mr. Chairman and welcome to all of our witnesses,… Read more »

Following the announcement that President Trump will nominate Joseph Otting, former OneWest Bank chief executive, to lead the Office of the Comptroller of the Currency (OCC), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement: “The mission of the OCC is to ensure that financial institutions operate in a safe and… Read more »

In an op-ed published today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, discussed the numerous ways in which the Consumer Financial Protection Bureau (Consumer Bureau) continues to fight for hardworking Americans who have been harmed by illegal, predatory financial schemes, and the ways in which President Trump and Congressional… Read more »

Today, in response to a statement from Securities and Exchange Commission (SEC) Chairman Jay Clayton requesting public comment on the standards of conduct applicable to broker-dealers and investment advisers when providing financial advice, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “As one of his first… Read more »

Following the announcement that the Federal Reserve fined Deutsche Bank $41 million on account of the bank’s “unsafe and unsound” anti-money laundering practices, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement: “Yesterday’s action by the Federal Reserve provides yet more evidence of Deutsche Bank’s well-known… Read more »

Last week, House Financial Services Committee Ranking Member Maxine Waters (D-CA), Vice Ranking Member Dan Kildee (D-MI) and Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver (D-MO), hosted a roundtable discussion on how the Trump Administration’s full budget request would create suffering for whole communities; increase poverty, hunger and homelessness; and reduce… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight & Investigations,… Read more »