Reps. Maxine Waters (D-CA), Elijah E. Cummings (D-MD), and Bobby Scott (D-VA), Ranking Members of the House Committees on Financial Services, Oversight and Government Reform, and Education and the Workforce, issued the following statement on today’s announcement that the Department of Labor’s (DOL) fiduciary rule will be initially implemented after the conclusion of the current 60-day… Read more »

Today, in response to the Trump Administration’s release of its full budget request to Congress for Fiscal Year 2018, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Donald Trump has once again revealed who he really is, with a cruel and senseless budget that abandons Main Street and the vulnerable. “The… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Dan 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 »

On Wednesday, May 24, 2017, at 3:30 p.m. EDT, Ranking Member Maxine Waters (D-CA), Vice Ranking Member Dan Kildee (D-MI) and Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver (D-MO), will host a roundtable discussion on how the Administration’s proposed elimination of the Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) programs would create… Read more »

Several House Committee Ranking Members submitted letters to their respective Chairmen requesting that their committees do not waive their jurisdiction over H.R. 10, also known as the Wrong Choice Act. The Wrong Choice Act, a wide-reaching financial services bill, makes financial markets less safe, puts consumers at risk, and undermines critical safeguards in the Dodd-Frank Wall Street… Read more »

On the second day of the House Financial Services Committee markup of H.R. 10, also known as the Wrong Choice Act, Committee Democrats continued to resist the Republican agenda to roll back consumer and investor protections in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The Wrong Choice Act undermines and outright repeals critical safeguards in Dodd-Frank,… Read more »

On the first day of the House Financial Services Committee markup of H.R. 10, also known as the Wrong Choice Act, Committee Democrats fought throughout the day and into the night to protect hardworking Americans from the catastrophic damage the bill would cause. The Wrong Choice Act undermines and outright repeals critical safeguards in the Dodd-Frank Wall Street Reform and Consumer… Read more »

During the House Financial Services Committee markup of H.R. 10, also known as the Wrong Choice Act, Committee Democrats are fighting back against Republican attempts to make financial markets less safe and put consumers at risk. The Wrong Choice Act undermines and outright repeals critical safeguards in Dodd-Frank, the law that was designed to protect the American economy from another… Read more »

Today, at a full Committee markup of the Wrong Choice Act, a bill that repeals the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 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. Mr. Chairman, this is one of the… Read more »

Last week, House Financial Services Committee Democrats led the Committee’s first Minority Day Hearing in 20 years in order to protect the economic security of hardworking Americans from a bill that prioritizes Wall Street over Main Street. The hearing, which featured testimony from Senator Elizabeth Warren and 10 other expert witnesses, reviewed Chairman Hensarling’s Wrong Choice Act, a… Read more »

After just 100 days in office, President Trump has undermined the economic security of the middle class and hardworking Americans by beginning to roll back financial regulations and putting reckless policies in place. The list below recounts Trump’s broken promises, threatening consumers, investors, and the economy at large: On the first day of his administration, Trump suspended a… Read more »

This week, Committee Democrats led a Minority Day Hearing on the many problems with Chairman Hensarling’s Wrong Choice Act, a bill that would repeal the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and put America on the road to another financial crisis. The hearing, which featured testimony from Senator Elizabeth Warren and other experts and… Read more »

Today, at the historic Minority Day Hearing of the House Financial Services Committee, Ranking Member Maxine Waters (D-CA) delivered the following statement: As Prepared for Delivery Thank you, Mr. Chairman, and thank you to the witnesses for joining us today, especially Senator Elizabeth Warren, who created the idea of the Consumer Financial Protection Bureau, and gave the force… Read more »

On Friday, April 28, 2017, House Financial Services Committee Democrats will lead an additional hearing on H.R. 10, also known as the Wrong Choice Act. The hearing, referred to as a “Minority Day Hearing,” is the first hearing before the Financial Services Committee under the 115th Congress where Democrats can select the panel of witnesses. This hearing is historic in that the… Read more »

Today, at a Terrorism and Illicit Finance hearing entitled “Safeguarding the Financial System from Terrorist Financing,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following statement: As Prepared for Delivery Thank you, Mr. Chairman. One of the key issues this subcommittee will be looking at is the adequacy of… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined by lead cosponsors Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, and Congressman Ed Perlmutter (D-CO), Ranking Member of the Subcommittee on Terrorism and Illicit Finance, introduced the “No Russia Exemptions for Oil Production Act” (the No… Read more »

Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act, House Financial Services Committee Democrats, led by Ranking Member Maxine Waters (D-CA), submitted a letter to the Chairman requesting an additional hearing in order to thoroughly analyze how the legislation would impact consumers, investors, and the American economy. "Following the worst… Read more »

Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act 2.0, a bill that would destroy the most important parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you,… Read more »

In response to a Trump Administration statement denying that they will issue waivers to the sanctions on Russia to authorize oil drilling, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “For months, I have sounded the alarm about Trump, his associates, their many suspicious ties to Russia and oil and gas companies,… Read more »

WASHINGTON - In response to reports that ExxonMobil has requested special permission from the U.S. Treasury Department’s Office of Foreign Assets Control to be exempted from U.S. sanctions imposed in response to Russia’s aggression in Ukraine and its violations of international law, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the… Read more »

WASHINGTON - Today, in response to a pair of Trump Administration executive actions aimed at deregulating the financial services sector, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement. “Here we go again. When it comes time for Trump to put up or shut up on his promises to hardworking Americans, all he puts up… Read more »

WASHINGTON – In response to the Consumer Financial Protection Bureau’s (Consumer Bureau) lawsuit against Ocwen Financial Corporation for years of incompetent handling of mortgage accounts, Congresswoman Maxine Waters (D-CA), issued the following statement: “Enough is enough when it comes to Ocwen’s history of repeated, abusive treatment of homeowners. Their behavior is simply… Read more »

WASHINGTON - In a letter to Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, and Margaret Lewis, Chair of the Federal Reserve Bank of Richmond Board of Directors, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, called for their commitment to replacing Federal Reserve Bank of Richmond President Jeffrey M. Lacker with an… Read more »

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

Today, in response to the release of details of the updated version of the “Financial Choice Act,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The so-called Financial Choice Act is a piece of legislation that will essentially kill the most important aspects of the Dodd-Frank Wall Street Reform and Consumer… Read more »