Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 3971, a bill that would allow mortgage servicers to drop important consumer protections put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act: As Prepared for Delivery I rise today in opposition to H.R.… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 36 current and former Democratic Members filed an amicus brief with the D.C. Circuit Court of Appeals, arguing that Consumer Financial Protection Bureau Deputy Director Leandra English should serve as Acting Director of the Consumer Bureau until a Director is confirmed by the Senate. The… Read more »

Today, following the public release of a Government Accountability Office (GAO) report entitled “Financial Services Industry: Trends in Management Representation of Minorities and Women and Diversity Practices, 2007-2015,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on… 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 »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement on H.R. 477, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017: H.R. 477 seeks to provide a statutory exemption from registration with the Securities and Exchange Commission, or S.E.C., for certain brokers who… Read more »

Today, following the Government Accountability Office’s (GAO’s) release of a report entitled “Large Bank Supervision: Improved Implementation of Federal Reserve Policies Could Help Mitigate Threats to Independence,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This report is yet more evidence that the Federal… Read more »

Today, in response to the introduction of a resolution to use the Congressional Review Act to repeal the Consumer Financial Protection Bureau’s recently issued rule on payday, vehicle title, and certain high-cost installment loans, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Once again, Republicans are… Read more »

Today, in response to reports that Special Counsel Robert Mueller has subpoenaed Deutsche Bank for records relating to President Trump and his family, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am pleased to see reports that Special Counsel Mueller is following the Trump money trail, as I have always… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement in opposition to S.2155, a bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act: “This bill simply repackages harmful provisions from Chairman Hensarling’s Wrong Choice Act, and it must… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, wrote to Deputy Attorney General Rod Rosenstein to request information on the status of the Department of Justice’s investigation into Deutsche Bank’s Russian mirror trading scheme, Attorney General Session’s involvement in the investigation, and whether President Trump or his family members… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 1699, a bill that would remove important protections for consumers of manufactured housing: As Prepared for Delivery Thank you Mr. Chairman. I rise today in opposition to H.R. 1699, which would undermine the Dodd-Frank Wall… Read more »

Today, in response to reports that the Office of the Comptroller of the Currency sent a letter to Wells Fargo stating that it is considering an enforcement action against the bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The time for letters of warning to Wells Fargo has long since passed. This is a bank… Read more »

In response to a U.S. District Court judge’s decision to deny Leandra English’s initial motion for a temporary restraining order against the Trump Administration for attempting to install White House Office of Management and Budget Director Mick Mulvaney as Acting Director of the Consumer Financial Protection Bureau, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 25 current and former Democratic Members filed an amicus brief today with the D.C. Circuit Court of Appeals, arguing that Consumer Financial Protection Bureau Deputy Director Leandra English should serve as Acting Director of the Consumer Bureau until a Director is confirmed by the… Read more »

Today, in response to President Trump’s attempt to appoint Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Richard Cordray appointed Leandra English as Deputy Director of the Consumer Bureau to ensure a smooth transition and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement in response to Consumer Financial Protection Bureau Director Richard Cordray’s announcement that he will step down this month: “Richard Cordray is a true champion for American consumers. Under his outstanding leadership, the Consumer Bureau has made the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following floor statement in opposition to the H.R. 2874, the 21st Century Flood Reform Act: As Prepared for Delivery I rise today in opposition to H.R. 2874, legislation that will make flood insurance more expensive, less available, and less fair for consumers. At the… Read more »

Today, at a House Financial Services Committee markup of 23 bills, 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, I must admit I’m disappointed that the Committee is moving forward today with marking up a large number of bills that could be… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 2201, the Micro Offering Safe Harbor Act: As Prepared for Delivery Mr. Speaker, H.R. 2201 would create an unnecessary and potentially dangerous loophole in federal and state securities laws by allowing companies to sell… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at a Subcommittee on Terrorism and Illicit Finance hearing entitled “Financial Intelligence and Enforcement: Treasury’s Role in Safeguarding the American Financial System.” As Prepared for Delivery Thank you, Mr. Chairman and welcome, Under Secretary… Read more »

Today, in response to President Trump’s decision not to renominate Janet Yellen as Chair of the Federal Reserve Board of Governors, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Janet Yellen, who is the first woman to lead the Board of Governors of the Federal Reserve System, has done a masterful job as steward… Read more »

In response to President Trump’s signing of a 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, issued the following statement: “By signing the repeal of the Consumer Financial Protection Bureau’s rule banning… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, introduced the Preventing Foreclosures on Seniors Act, a bill to make reforms to the U.S. Department of Housing and Urban Development’s (HUD’s) reverse mortgage program to help prevent unfair foreclosures on seniors. HUD’s Home Equity Conversion Mortgages (HECM) program allows seniors to take… Read more »

Today, Congresswoman Maxine Waters (D-CA) introduced the Making FHA More Affordable Act, a bill to repeal the requirement that Federal Housing Administration (FHA) borrowers pay mortgage insurance premiums for the life of the loan, and reinstate the FHA’s previous policy of only requiring borrowers to pay premiums until the outstanding principal balance reaches 78 percent of the original… Read more »

Today, at a Minority Day Hearing to examine the massive data breach that occurred at Equifax, and to consider and discuss ideas for ensuring the integrity of our country’s consumer reporting system and safeguarding consumer data, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for… Read more »