Today, in response to the House passage of H.J. Res 111, a harmful Republican resolution that repeals the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Forced arbitration benefits large corporations and… Read more »

Today, during floor debate on H.J.Res 111, a Republican Joint Resolution to repeal the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery H.J.Res 111 is an affront to… Read more »

Today, at a full Financial Services Committee markup of five bills, the Committee will consider Committee Democrats’ Resolution of Inquiry, which directs Treasury Secretary Mnuchin to provide Congress with documents on the financial dealings of President Trump, his family members, and his associates. In her opening statement, Congresswoman Maxine Waters (D-CA), Ranking Member of Financial… Read more »

Today, House Democrats, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, alongside Congressman Tim Walz (D-MN), Ranking Member of the Committee on Veterans' Affairs, and Congressman Denny Heck (D-WA), Financial Services Committee Member, introduced legislation that would protect the financial wellbeing of servicemembers and their families… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released a Democratic staff report documenting the successes of the Consumer Financial Protection Bureau (Consumer Bureau). In the report, Democratic Committee staff discuss the devastating effects of the 2008 financial crisis that led to the creation of the Consumer Bureau, the types of consumer… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, requested for the second time that Chairman Jeb Hensarling convene a field hearing in Los Angeles on homelessness. As the letter notes, the Committee has already begun to hold field hearings on housing issues in other parts of the country. “The 2017 Point in Time Count in Los Angeles County showed… Read more »

Today, in response to a Republican resolution to use the Congressional Review Act to block the Consumer Financial Protection Bureau’s recently issued mandatory arbitration rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The Consumer Bureau’s forced arbitration rule ensures that consumers are not required to… Read more »

On July 13, the House Financial Services Subcommittee on Capital Markets, Securities, and Investment held a hearing entitled “Impact of the DOL Fiduciary Rule on the Capital Markets.” The fiduciary rule protects retirees and retirement savers from unscrupulous financial advisors. Before the fiduciary rule, conflicted financial advice cost Americans around $17 billion a year. In June,… Read more »

Following reports that 70% of Trump’s real estate property sales over the past 12 months have been to secretive shell companies, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced legislation that would reveal exactly who may be seeking influence over the Trump Administration. The End Secret Holdings and Ethical and Legal Loopholes… Read more »

In response to House Republicans’ budget resolution to dismantle Wall Street reform, gut the Consumer Financial Protection Bureau, eliminate the procedures that safely liquidate failing mega-banks and stop future taxpayers bailouts, and ultimately bring back the same risky and predatory Wall Street practices and products that led to the Great Recession, Congresswoman Maxine Waters… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, wrote to Attorney General Jeff Sessions demanding his immediate recusal from any Department of Justice investigation into Deutsche Bank’s Russian mirror trading scheme and any investigation into any loans Deutsche Bank provided to President Trump or his immediate family members. Ranking… Read more »

Throughout the controversy surrounding the Trump Administration’s suspicious and undisclosed financial dealings and business partnerships, House Financial Services Committee Democrats have remained committed to following the money trail. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the… Read more »

WASHINGTON - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined Democratic Leader Nancy Pelosi and other House Democratic Committee leaders to highlight House Republicans’ failure to investigate and conduct adequate oversight of the Trump Administration. At the press conference, Ranking Member Waters stressed the urgency behind… Read more »

Following the announcement that Wells Fargo received preliminary approval for a $142-million class-action settlement over the opening of over 2 million unauthorized accounts, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “I applaud the U.S. District Court for the Northern District of California for continuing to… Read more »

In response to the announcement that the Trump Administration intends to appoint Wall Street lawyer Randal Quarles to serve as Vice Chair for Supervision at the Federal Reserve, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Trump’s pattern of appointing individuals to run agencies with missions they oppose… Read more »

Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chair Janet Yellen, 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 thank you Chair Yellen. It is a pleasure to have you with us… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, applauded the Consumer Financial Protection Bureau’s (Consumer Bureau) issuance of a final rule to prohibit mandatory arbitration clauses in contracts for consumer financial products. Ranking Member Waters made the following statement: “I applaud the Consumer Financial Protection… Read more »

Last week, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered remarks in Washington, DC at the Save HUD 202 Rally. At the rally, which was attended by residents of HUD Section 202 Housing for the Elderly, affordable housing advocates, and Members of Congress, Ranking Member Waters warned of the catastrophic harm that would result from the… 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 Committee Chairman Jeb Hensarling, calling on him to use the Committee’s full range of its investigative powers to examine the high potential for conflicts of interest with… Read more »

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 »