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Waters Blasts Republican Effort to Use Congressional Review Act to Repeal Forced Arbitration Rule

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Today, in response to a Republican resolution to use the Congressional Review Act to block the Consumer Financial Protection Bureau’s recently issued mandatory arbitration rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The Consumer Bureau’s forced arbitration rule ensures that consumers are not required to…

Waters Fights to Preserve New Rule that Protects Retirees and Savers

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On July 13, the House Financial Services Subcommittee on Capital Markets, Securities, and Investment held a hearing entitled “Impact of the DOL Fiduciary Rule on the Capital Markets.” The fiduciary rule protects retirees and retirement savers from unscrupulous financial advisors. Before the fiduciary rule, conflicted financial advice cost Americans around $17 billion a year. In June,…

Waters Introduces Bill Requiring Disclosure of Trump Real Estate Buyers’ Identities

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Following reports that 70% of Trump’s real estate property sales over the past 12 months have been to secretive shell companies, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced legislation that would reveal exactly who may be seeking influence over the Trump Administration. The End Secret Holdings and Ethical and Legal Loopholes…

Waters Slams Republicans for Taking Harmful Steps Towards Another Financial Crisis

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In response to House Republicans’ budget resolution to dismantle Wall Street reform, gut the Consumer Financial Protection Bureau, eliminate the procedures that safely liquidate failing mega-banks and stop future taxpayers bailouts, and ultimately bring back the same risky and predatory Wall Street practices and products that led to the Great Recession, Congresswoman Maxine Waters…

Waters to Sessions: Recuse Yourself from Any Investigations into Deutsche Bank Russian Mirror Trading and Trump Loans

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, wrote to Attorney General Jeff Sessions demanding his immediate recusal from any Department of Justice investigation into Deutsche Bank’s Russian mirror trading scheme and any investigation into any loans Deutsche Bank provided to President Trump or his immediate family members. Ranking…

Committee Dems Introduce Resolution of Inquiry to Follow Trump Money Trail

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Throughout the controversy surrounding the Trump Administration’s suspicious and undisclosed financial dealings and business partnerships, House Financial Services Committee Democrats have remained committed to following the money trail. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the…

Waters and House Committee Democrats Introduce Resolutions of Inquiry to Hold the Trump Administration Accountable

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WASHINGTON - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined Democratic Leader Nancy Pelosi and other House Democratic Committee leaders to highlight House Republicans’ failure to investigate and conduct adequate oversight of the Trump Administration. At the press conference, Ranking Member Waters stressed the urgency behind…

Waters Statement on the $142 Million Wells Fargo Settlement

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Following the announcement that Wells Fargo received preliminary approval for a $142-million class-action settlement over the opening of over 2 million unauthorized accounts, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “I applaud the U.S. District Court for the Northern District of California for continuing to…

Waters Statement on the Nomination of Randal Quarles for Top Federal Reserve Post

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In response to the announcement that the Trump Administration intends to appoint Wall Street lawyer Randal Quarles to serve as Vice Chair for Supervision at the Federal Reserve, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Trump’s pattern of appointing individuals to run agencies with missions they oppose…

At Yellen Hearing, Waters Warns of Economic Harm from Trump Policies, Commends Fed Chair

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Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chair Janet Yellen, 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, and thank you Chair Yellen. It is a pleasure to have you with us…

Waters Applauds Consumer Bureau for Issuing Final Rule to Curb Forced Arbitration

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Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, applauded the Consumer Financial Protection Bureau’s (Consumer Bureau) issuance of a final rule to prohibit mandatory arbitration clauses in contracts for consumer financial products. Ranking Member Waters made the following statement: “I applaud the Consumer Financial Protection…

ICYMI: Waters Addresses Affordable Housing Advocates and HUD Tenants

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Tags: HUD

Last week, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered remarks in Washington, DC at the Save HUD 202 Rally. At the rally, which was attended by residents of HUD Section 202 Housing for the Elderly, affordable housing advocates, and Members of Congress, Ranking Member Waters warned of the catastrophic harm that would result from the…

Waters and Green to Hensarling: Probe Trump Admin Investigations of OneWest Bank

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, sent a letter to Committee Chairman Jeb Hensarling, calling on him to use the Committee’s full range of its investigative powers to examine the high potential for conflicts of interest with…

Waters and Hultgren Introduce Bipartisan Bill to Continue the Term of the FSOC Independent Member with Insurance Expertise

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Randy Hultgren (R-IL), introduced a bipartisan bill to make a technical correction to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), and address an issue regarding the term of the Financial Stability Oversight Council (FSOC) independent…

Ranking Member Waters Introduces Bill to Fully Fund Public Housing

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Tags: HUD

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, along with seven other Democratic Committee Members, reintroduced comprehensive legislation to preserve and revitalize the nation’s public housing stock. The measure, entitled the Public Housing Tenant Protection and Reinvestment Act Of 2017, ensures safe, decent, and affordable housing…

Waters Blasts Inclusion of Wall Street Deregulation Measures in FSGG Appropriations Bill

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, blasted the FY 2018 Financial Services and General Government (FSGG) Appropriations bill, which includes many elements of the Wrong Choice Act, the Republican deregulatory measure to roll back Wall Street reform. “The Financial Services and General Government Appropriations bill has been…

Committee Dems Request Hearings with Trump Administration Officials on Harmful Cuts to Housing Programs

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Today, led by Ranking Member Maxine Waters (D-CA) and Subcommittee on Housing and Insurance Ranking Member Emanuel Cleaver (D-MO), all 26 Democratic Members of the Committee on Financial Services sent a letter to Chairman Jeb Hensarling requesting hearings with Ben Carson, Secretary of the U.S. Department of Housing and Urban Development (HUD), and Sonny Perdue, Secretary of the U.S.…

ICYMI: Washington Post Report on Jared Kushner and Deutsche Bank Loan

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This week, a report in the Washington Post details Jared Kushner’s recent financial dealings with Deutsche Bank. The report comes on the heels of continued scrutiny of the bank from 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…

Committee Dems Raise Concerns to HUD Inspector General About Trump Conflicts of Interest

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Tags: HUD

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, sent a letter to the Acting Inspector General of the U.S. Department of Housing and Urban Development (HUD), expressing concerns about President Trump’s conflicts of interest with regard to…

Committee Dems to Deutsche Bank: Do Not Withhold Information from Congress on Trump and Russia

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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 Investigations, and…

Waters Statement in Support of Velázquez Flood Bill to Improve NFIP

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Today, at the continuation of the House Financial Services Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement in support of Congresswoman Nydia Velázquez’s (D-NY) bill, H.R. 2875, the “National Flood Insurance Program (NFIP) Administrative Reform Act of 2017:” Thank you,…

Waters Strongly Opposes Garrett’s Nomination to Lead Ex-Im

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

At Markup of Flood Bills, Dems Offer Amendments to Keep Flood Insurance Affordable and Accessible

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On the first day of the of the House Financial Services Committee markup of seven flood insurance bills, Committee Democrats fought for the availability and affordability of the National Flood Insurance Program (NFIP). “Democrats will offer amendments to provide the reauthorization language needed to keep the NFIP’s doors open and keep the real estate market from spiraling out of…

Waters Opening Statement at Committee Markup of Seven Flood Insurance Bills

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Today, at a Committee markup of seven flood insurance bills, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman. Eight days ago, we gathered in this hearing room to discuss six legislative proposals to reform the National Flood Insurance Program. At that hearing, I once again called…

ICYMI: Democrats Stand United Against the Wrong Choice Act

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Last week, the U.S. House of Representatives voted on H.R. 10, also known as the Wrong Choice Act, a bill that prioritizes Wall Street over Main Street. While debating on the House floor, Democrats highlighted all the ways in which the Wrong Choice Act would be the wrong choice for consumers, investors, and the entire economy. Democrats also noted the thousands of individuals and groups…

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