Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement regarding H.R. 3823 on the House floor: As Prepared for Delivery Thank you, Mr. Speaker. I rise today in opposition to this bill, which began as a must-pass reauthorization of the Federal Aviation Administration, but has now become a Christmas tree for… Read more »

Today, in response to the announcement that Equifax CEO Richard Smith has retired, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The retirement of Equifax’s CEO, just days before he is scheduled to testify at congressional hearings about the breach that occurred under his watch, does not relieve the company of… Read more »

Following the announcement that representatives from the United States and European Union signed a covered agreement, a mechanism established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), on international insurance and reinsurance matters, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Senator Cory Booker (D-NJ), and Congressman Gregory Meeks (D-NY) released a statement on a new Government Accountability Office (GAO) report titled, “Investment Management: Key Practices Could Provide More Options for Federal Entities and Opportunities for Minority- and Women-Owned… Read more »

Following the U.S. Senate passage of H.R.3110, the Financial Stability Oversight Council Insurance Member Continuity Act, a bipartisan bill introduced by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Randy Hultgren (R-IL), a member of the Financial Services Committee, which would extend the term of the Financial Stability… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement regarding the devastation caused by hurricanes this season, and the news that Congress will need to raise the National Flood Insurance Program’s (NFIP) borrowing authority to pay all of its claims from Hurricanes Harvey and Irma. “As the 2017 hurricane season… Read more »

Following the announcement that 143 million American consumers were impacted by the Equifax security breach, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, reintroduced the Comprehensive Consumer Credit Reporting Reform Act, which contains landmark reforms to improve the nation’s credit reporting system. Credit reporting agencies compile and… Read more »

Following the announcement that nearly half of U.S. population’s personal data was exposed -- including Social Security numbers, birth dates, and addresses -- due to an enormous security breach at Equifax, one of the nation’s major credit reporting agencies, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This hack… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement from the House floor: As Prepared for Delivery I ask unanimous consent to revise and extend my remarks. On August 26, Hurricane Harvey began a path of unprecedented destruction across Southeast Texas. The historic levels of rainfall were so extraordinary… Read more »

During consideration of H.R. 3354, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor against a ruling to eliminate an amendment introduced by Congressman Charlie Dent (R-PA) which would temporarily modify the Export-Import Bank’s quorum requirement, allowing the Bank to consider transactions of all sizes and clear its… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following floor statement on H.R. 3354: As Prepared for Delivery Mr. Speaker, I strongly oppose H.R. 3354, a bill that not only fails to make critical investments in our nation’s future, but also eliminates important protections for everyday Americans. As Ranking Member of the… Read more »

In the wake of Hurricane Harvey and as the threat from Hurricane Irma looms, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, published an op-ed highlighting the need for bipartisan cooperation to renew the National Flood Insurance Program (NFIP) for the long term. In the piece, Ranking Member Waters underscores the need for a federal flood… Read more »

Following Financial Services Committee Chairman Jeb Hensarling's request to eliminate a bipartisan amendment to temporarily modify the Export-Import Bank’s quorum requirement, which would allow the Bank to consider transactions of all sizes and clear its significant backlog, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Steny Hoyer… Read more »

Today, in response to a report revealing that Wells Fargo opened an additional 1.4 million fraudulent bank accounts and 528,000 unauthorized online bill pay enrollments without their customers’ knowledge or permission, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Wells Fargo’s misdeeds are egregious, and they… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton calling on the SEC to enforce Rule 13p-1 of the Securities Exchange Act, also known as the Conflict… Read more »

Today, in reaction to the continuing harm and destruction caused by Hurricane Harvey, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The devastation from Hurricane Harvey is overwhelming and my heart goes out to those affected by this terrible storm. Harvey continues to dump unprecedented amounts of rain on… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg, calling for the FDIC to hold at least one public hearing on Social Financial, Inc.’s (SoFi) application to establish an Industrial Loan Company (ILC). In the letter, Ranking Member Waters states that… Read more »

Following the announcement that Elizabeth Duke will replace Stephen Sanger as Chairman of the Board of Directors of Wells Fargo, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “This superficial change in leadership at Wells Fargo isn't enough to restore the trust and confidence of the American public. While… Read more »

WASHINGTON -- Today, 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 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… Read more »

Today, 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, and Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, wrote to Committee Chairman Jeb Hensarling requesting a public hearing to review the ongoing… Read more »

Today, in response to reports that Wells Fargo forced more than 800,000 car loan borrowers to purchase unnecessary car insurance, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “The constant drip drop of fraudulent activities coming out of Wells Fargo is absolutely outrageous. Wells Fargo has repeatedly preyed… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement in response to Committee Republicans’ revised flood insurance legislation: “Though Chairman Hensarling and Committee Republicans have been scrambling to make changes to their flood insurance bill, the affordability challenges facing millions of policyholders… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, introduced the Bad Actor Disqualification Act of 2017, important legislation that ensures the Securities and Exchange Commission (SEC) protects investors from bad actors by implementing a rigorous, fair, and public process for waiving automatic disqualification provisions in the law. “By… Read more »

Today in an exchange between Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Treasury Secretary Steven Mnuchin, Secretary Mnuchin continued to avoid Ranking Member Waters’ question concerning the Secretary’s lack of response to the Democrats’ May 23 letter regarding potential suspicious financial activity between Russia and the Trump… Read more »

At today’s Financial Services Committee hearing with Treasury Secretary Steven Mnuchin, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, called for Secretary Mnuchin to address several matters of concern, including a May 23 letter from Committee Democrats requesting information regarding the financial dealings of President Trump, his family… Read more »