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Waters Chosen by House Democrats to Be First Woman and African American to Chair Financial Services Committee

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Today, Congresswoman Maxine Waters (D-CA) released the following statement after being approved by the Democratic Caucus to serve as the first woman and the first African American Chair of the House Financial Services Committee: “I am honored to have been selected by my colleagues to be the first Chairwoman of the House Financial Services Committee in the 116th Congress. Since 1995, I…

Committee Democrats Stand Up for DACA Recipients Seeking Access to Homeownership

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Tags: HUD

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 15 Committee Democrats sent a letter to Brian Montgomery, Assistant Secretary for Housing–Federal Housing Commissioner of the U.S. Department of Housing and Urban Development (HUD), expressing concerns about the lack of transparency at HUD regarding the reported denial of access to…

Waters Puts Mulvaney on Notice

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Tags: CFPB

WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Office of Management and Budget Director Mick Mulvaney, informing him that she expects his full and complete cooperation with the Committee’s oversight of the Consumer Financial Protection Bureau’s actions during his tenure at the agency, and that he…

Waters Statement at Hearing on National Debt

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement at a full Committee hearing entitled, “The Peril of an Ignored National Debt.” As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, since this hearing is about attention to the national debt, I think it is important for the public to understand…

Waters, Heck and 21 Committee Democrats Call on CFPB Director to Resume Protection of Military Servicemembers

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Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Congressman Denny Heck (D-WA) and 21 Committee Democrats sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), urging her to recommit the Consumer Bureau to fulfilling its supervisory role over consumer…

Waters Statement on the CFPB’s Weak Settlement with State Farm Bank

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Tags: CFPB

Following the announcement that the Consumer Financial Protection Bureau (Consumer Bureau) settled with State Farm Bank, FSB, over the misuse of consumer credit information without imposing a civil penalty, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “To cap off his harmful tenure at the Consumer Bureau,…

Waters Statement at Hearing on International Financial Institutions

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following statement at a subcommittee hearing on the effectiveness of international financial institutions with David Malpass, Under Secretary for International Affairs, U.S. Department of the Treasury. As Prepared for Delivery Thank you very much. I’d like to thank Under…

Waters Statement on FOIA Release Revealing Unpublished Consumer Bureau Analysis on Bank Fees Charged to Students

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Today, in response to a Freedom of Information Act (FOIA) disclosure revealing a previously unreleased Consumer Financial Protection Bureau (Consumer Bureau) analysis on excessive account fees charged to students by large banks, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “It is deeply troubling that a…

Waters Statement on Proposal to Weaken Enforcement at the Consumer Bureau

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Tags: CFPB

Today, following a Consumer Financial Protection Bureau (Consumer Bureau) proposal to weaken its “no-action letter” policy and reduce enforcement, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am very concerned by the Consumer Bureau proposal, issued in the last days of Mick Mulvaney’s leadership, to…

Waters Statement on her Nomination as Financial Services Committee Chairwoman by Democratic Steering and Policy Committee

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Following her historic nomination by the House Democratic Steering and Policy Committee as the first woman and African American to chair the House Committee on Financial Services, Congresswoman Maxine Waters (D-CA), issued the following statement: “I am honored to have been nominated by the Democratic Steering and Policy Committee to serve as Chairwoman of the House Financial Services…

Waters, Heck and 21 Committee Democrats Call on CFPB Director to Resume Protection of Military Servicemembers

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Tags: CFPB, HUD

WASHINGTON, D.C. -Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Congressman Denny Heck and 21 Committee Democrats sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), urging her to recommit the Consumer Bureau to fulfilling its supervisory role over consumer protection…

Waters Statement on the Confirmation of Kathy Kraninger to Head the CFPB

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Following the U.S. Senate confirmation of OMB Associate Director Kathy Kraninger to serve as Director of the Consumer Financial Protection Bureau (Consumer Bureau), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “The Consumer Financial Protection Bureau was specifically designed by Congress to be an independent…

Waters Statement on Short-Term Extension of National Flood Insurance Program

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On Thursday, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following floor statement in support of a short-term National Flood Insurance Program (NFIP) extension and continued her call for a long-term reauthorization to provide homeowners, businesses, renters, and communities with the certainty they deserve. It is disappointing…

Waters Statement at Hearing with Vice Chairman for Supervision of the Federal Reserve

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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…

Waters Statement on the 2018 Midterm Election Results

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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…

Waters, Scott, Walz and Takano Call on Education Department to Reverse Changes to College Scorecard

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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’…

Waters Introduces Legislation to Put Consumers First

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Tags: CFPB

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…

Waters Leads Call for Committee to Investigate Failures to Protect Student Loan Borrowers at the CFPB

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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…

Waters Statement at Federal Housing Finance Agency Oversight Hearing

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Tags: GSE, FHFA

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…

Waters Calls on World Bank to Discontinue Support for the Government of Myanmar

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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,…

Waters, Perlmutter and 17 Other Democrats Call on Fed to Maintain Capital Requirements for Megabanks

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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…

Waters Statement on the 10th Anniversary of the 2008 Financial Crisis

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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…

Waters: Trump Would Rather Put Children in Cages Than Prepare Nation For Natural Disasters

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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…

Waters, Scott, Brown and Murray Call on SEC to Increase Investor Protections

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Tags: SEC

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…

Waters Statement at Hearing on Republicans’ Failure to Act on Housing Finance Reform

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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…

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