Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today in response to an announcement from the U.S. Treasury Department that representatives from the United States and European Union successfully reached an agreement on international insurance and reinsurance rules, resulting in a covered agreement, as… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement following Dr. Ben Carson’s confirmation hearing to serve as Secretary of the Department of Housing and Urban Development (HUD): “Yesterday's confirmation hearing continues the common thread that ties together the incoming Trump Administration: a fundamental lack of… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke strongly against two bills pushed by Republicans to effectively roll back postcrisis financial regulation. Ranking Member Waters acknowledged the bills on the House floor today as another attempt by the majority to gut policies that have helped millions of Americans. H.R. 78, the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following a report published by the Consumer Financial Protection Bureau (CFPB/Bureau), demonstrating that over one-in-four consumers contacted by debt collectors felt threatened. This report is a result of the first-ever national survey of consumer experiences… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a statement following the announcement of the newly appointed Democratic Members to the Committee, who will serve for the 115th Congress: “Democrats are now the last line of defense to fight the onslaught of Wall Street Reform rollbacks and deregulatory bills the Republicans will try to… Read more »

Today, Financial Services Committee Democrats, led by Congresswoman Maxine Waters (D-CA), demanded that President-elect Donald Trump reject any attempts to deregulate Wall Street by removing the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, prior to the expiration of his term in July 2018. In a letter to President-elect Trump, the Members said they will… Read more »

In response to the U.S. Department of Housing and Urban Development’s (HUD) notice earlier today announcing the reduction of annual insurance premiums on most mortgages insured by the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised HUD Secretary Julián Castro for his leadership in strengthening the FHA… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in response to a report published today by the U.S. Government Accountability Office (GAO) discussing the compensation paid to Write-Your-Own (WYO) companies that administer to the National Flood Insurance Program (NFIP). In 2014, Ranking Member Waters called on the… Read more »

Following her statement denouncing President-elect Trump’s nomination of Steve Mnuchin as Treasury Secretary, Congresswoman Maxine Waters (D-CA) called on the Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) to immediately release documents pertaining to investigations into any fraudulent or discriminatory activities committed by Mnuchin’s bank,… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement in response to a memo leak documenting widespread misconduct at OneWest, a bank that was headed by President-elect Trump’s Treasury nominee, Steve Mnuchin. The leaked memo exposes the bank’s violation of notice and waiting period statues, which subsequently forced… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement following President-elect Trump’s nomination of Wall Street lawyer and Goldman Sachs adviser Jay Clayton as the head of the Securities and Exchange Commission (SEC), a major regulator of banks and Wall Street: “With this latest pick, Donald Trump is fervently continuing his… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement on the Federal Reserve’s decision today to raise the target range for the federal funds rate: “While I don’t agree with the Fed’s decision to raise rates, I am a strong advocate of an independent Federal Reserve free of political interference. I am concerned that… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 5143 as the next bill in the Trump agenda that would benefit Wall Street at the expense of financial stability. “This week’s gift is less oversight of the largest insurers in the U.S., which will put us at risk for another AIG,” Waters said, noting the… Read more »

Today, leading Democratic lawmakers called on the Department of Labor (DOL) to hold a public hearing on its recent proposals to let five megabanks with a history of criminal misconduct to continue managing assets of U.S. pension funds under the preferred status of “qualified professional asset manager” (QPAMs). The letter was signed by Congresswoman Maxine Waters (D-CA), Ranking… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement after President-elect Trump announced he will nominate Dr. Ben Carson to serve as Secretary of the Department of Housing and Urban Development (HUD): “Dr. Carson’s nomination to lead the Department of Housing and Urban Development (HUD) is frightening. He may be a… Read more »

Today, Congresswoman Maxine Waters (D-CA) was re-elected unanimously by the Democratic Caucus to serve as Ranking Member of the Committee on Financial Services for her third term. She released the following statement: “I am honored to have been re-elected to lead the House Financial Services Committee in the 115th Congress. We face many challenges in the years ahead, with… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 6392, a bill that would let President-elect Trump’s Wall Street-friendly administration deregulate 27 of the largest banks in the country. “H.R. 6392 would repeal Dodd-Frank’s $50 billion threshold, above which banks are subject to closer regulatory… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on reports that President-elect Trump will nominate Steven Mnuchin to serve as the next Treasury Secretary: “Donald Trump ran a campaign on anti-Wall Street rhetoric, but appointing a former hedge fund manager, Goldman Sachs executive, and bank CEO as Treasury… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, signed onto an amicus brief filed today with the D.C. Circuit Court of Appeals in support of the Consumer Financial Protection Bureau’s petition to have the entire court revisit an earlier decision by a three-judge panel that struck down the Bureau’s structure. Waters was joined by 20 current and… Read more »

Today, top Democrats on the House Financial Services Committee sent a letter to Inspectors General at federal financial services agencies, the Department of Housing and Urban Development, and the Department of Justice, calling on them to root out any potential conflicts of interests in President-elect Donald Trump’s administration. Led by Ranking Member Maxine Waters (D-CA), the letter… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 5711, a bill that would undermine the Iran nuclear deal, thereby jeopardizing both U.S. and global security. “I am particularly concerned that this bill comes at a time of deep global uncertainty about U.S. foreign policy," Waters said. "We have a… Read more »

The leading Democrats on the Senate Banking and House Financial Services Committees today urged Congressional leaders to reject any attempts to use must-pass government funding legislation to repeal, weaken, or delay financial reforms and consumer protections. In a letter to Senate and House leaders, Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) said they will oppose… Read more »

Today, Senator Sherrod Brown (D-OH), Ranking Member of the Committee on Banking, Housing, and Urban Affairs; Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services; Senator Elizabeth Warren (D-MA); and Congressman Keith Ellison (D-MN) sent an open letter to financial services trade groups demanding that they condemn the appointment of Stephen Bannon to… Read more »

In her opening statement at a full committee hearing with Securities and Exchange Commission Chair Mary Jo White, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, denounced President-elect Trump’s stances on financial services and Congressional Republicans’ deregulatory Wall Street agenda. “The demise of the regulations that Wall Street is… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to the Office of the Comptroller of the Currency (OCC) expressing serious concern over a seven-year delay in the public availability of Wells Fargo’s performance evaluation under the Community Reinvestment Act (CRA). The letter is the latest in Waters’ ongoing efforts to hold… Read more »