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 »

Yesterday, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined House Minority Leader Nancy Pelosi and Senator Elizabeth Warren to discuss the negative impact on consumers if Republicans overturn the Consumer Financial Protection Bureau’s rule to prohibit forced arbitration. Her remarks are below: Thank you so very much, Leader Pelosi. I… Read more »

Today, in response to the House passage of H.J. Res 111, a harmful Republican resolution that repeals 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: “Forced arbitration benefits large corporations and… Read more »

Today, during floor debate on H.J.Res 111, a Republican 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, gave the following opening statement: As Prepared for Delivery H.J.Res 111 is an affront to… Read more »

Today, at a full Financial Services Committee markup of five bills, the Committee will consider Committee Democrats’ Resolution of Inquiry, which directs Treasury Secretary Mnuchin to provide Congress with documents on the financial dealings of President Trump, his family members, and his associates. In her opening statement, Congresswoman Maxine Waters (D-CA), Ranking Member of Financial… Read more »

Today, House Democrats, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, alongside Congressman Tim Walz (D-MN), Ranking Member of the Committee on Veterans' Affairs, and Congressman Denny Heck (D-WA), Financial Services Committee Member, introduced legislation that would protect the financial wellbeing of servicemembers and their families… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released a Democratic staff report documenting the successes of the Consumer Financial Protection Bureau (Consumer Bureau). In the report, Democratic Committee staff discuss the devastating effects of the 2008 financial crisis that led to the creation of the Consumer Bureau, the types of consumer… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, requested for the second time that Chairman Jeb Hensarling convene a field hearing in Los Angeles on homelessness. As the letter notes, the Committee has already begun to hold field hearings on housing issues in other parts of the country. “The 2017 Point in Time Count in Los Angeles County showed… Read more »