Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, introduced legislation to comprehensively address chronic underfunding of the public housing program in the United States to ensure access to housing that is safe, decent and affordable for the 1.2 million vulnerable families who rely on it. The measure, entitled the Public Housing Tenant… Read more »

Following comments by Speaker Boehner that, “there are thousands of jobs on the line that would disappear pretty quickly if the [Export-Import] Bank were to disappear," Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, urged the Republicans on the Committee to stand up for American jobs and businesses by taking action to renew and reform the… Read more »

With just 26 legislative days left until the Export-Import Bank closes its doors on June 30, House Democrats today initiated an effort to bypass House Republican leadership that would force a vote on legislation to extend the Bank’s charter. Three key Democratic members of the Financial Services Committee have joined with Democratic Leader Nancy Pelosi and Whip Steny Hoyer to sign a… Read more »

Following a House Appropriations subcommittee’s approval of a measure to fund the nation’s housing programs, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, blasted Republicans for undercutting important housing programs that protect our most vulnerable populations. The legislation, known as the Transportation, Housing and Urban Development and… Read more »

As the House considers H.R. 1195, legislation related to advisory boards at the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, lamented yet another underhanded attempt by the Republican majority to undermine the consumer watchdog by significantly cutting its budget. As originally written, the… Read more »

Two leading Democrats on the Financial Services Committee are urging the Federal Retirement Thrift Investment Board (Board) to incorporate and prioritize diversity as it considers the creation of a mutual fund window within the $439 billion Federal Thrift Savings Plan (TSP). In a letter addressed to head of the Board today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking… Read more »

With the Export-Import Bank’s charter set to expire in just 32 legislative days, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today blasted House Republicans for wasting time hosting a hearing on the implementation of the 2012 reauthorization – and called on them to instead focus on ensuring its doors remain open. In a joint hearing between… Read more »

In advance of final votes today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led efforts to oppose the so-called “Mortgage Choice Act,” (H.R. 685) a measure that would weaken vital consumer protections for low-income Americans looking to purchase a home, exponentially increase mortgage costs, and undo the critical work of the Consumer… Read more »

Leading opposition to final passage of the “Preserving Access to Manufactured Housing Act” on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, criticized the measure for rolling back critical borrower protections put in place by the Consumer Financial Protection Bureau, undercutting the Dodd-Frank Wall Street Reform Act and… Read more »

Following an announcement from the Department of Labor (DOL) that it has proposed for public comment rules on the provision of investment advice for retirement assets, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement in strong support of the Administration’s move to modernize its “fiduciary duty” rule, which seeks to ensure that… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today delivered testimony in front of the House Rules Committee, stating her strong opposition to two measures, the “Preserving Access to Manufactured Housing Act,” (H.R. 650) and the “Mortgage Choice Act,” (H.R. 685) . In her testimony, the top Democrat described the consequences of enacting these… Read more »

Following an announcement by the Consumer Financial Protection Bureau (CFPB) of its intent to draft rules to deter payday lending abuse, and in advance of President Obama’s trip to Birmingham, Alabama to speak about the matter, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, underscored her support for the Bureau’s action. Waters, a strong… Read more »

Following the Securities and Exchange Commission’s (SEC) vote to finalize a rule expanding an exemption allowing businesses to raise up to $50 million from the public markets, six leading Democratic lawmakers on the Financial Services Committee expressed concern with the consequences of preempting critical investor protections at the state level. Led by Congressman Maxine Waters (D-CA),… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today called on the Department of Housing and Urban Development (HUD) to issue formal guidance amending previous guidance that explicitly encouraged the “one strike and you’re out” policy, in which Public Housing Authorities evict residents on the basis of criminal activity that may, or may not,… Read more »

During opening remarks at a Financial Services Committee markup of nearly a dozen legislative proposals today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, outlined a number of areas where Democrats are willing to with Republicans to find bipartisan compromise. However, the Ranking Member also stressed that while Democrats are willing to work with their… Read more »

Today, as the House of Representatives considered the Republican budget proposal on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, waged a devastating critique of the proposal as harmful to our nation’s economic stability, to our housing market and to American consumers. Waters criticized the shortsightedness of a Republican… Read more »

Today, the Ranking Member of the Financial Services Committee strongly defended the right of American workers and retirees to receive honest financial advice free of double dealing and conflicts of interests. At the second in a series of congressional forums designed to address issues facing America’s middle class, Congresswoman Maxine Waters (D-CA) defended the Obama Administration’s… Read more »

In remarks prior to testimony from Securities Exchange Commission (SEC) Chairwoman Mary Jo White, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, discussed her recently released draft legislation, the “Bad Actor Disqualification Act.” The proposal would increase transparency by establishing a more vigorous, fair and public process for granting… Read more »

Washington, D.C. – As Securities and Exchange Commission (SEC) Chair Mary Jo White prepares to testify before the Financial Services Committee today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, has unveiled a proposal to increase transparency and establish a more vigorous, fair and public process for granting waivers of bad actor… Read more »

A coalition of nearly every Democratic Member of the House Financial Services Committee is calling on Republicans to make good on their pledge to address poverty by holding hearings on ending homelessness in America. In a letter sent today to Chairman Jeb Hensarling (D-TX), 25 Committee Democrats requested the majority pay increased attention to the issue by hosting a series of… Read more »

For the second time this week, House Republicans today rejected a Democratic motion to bring legislation to reauthorize, reform and re-energize the Export-Import Bank up for a vote. Congressman Denny Heck (D-WA) joined Congressman Al Green (D-TX) in leading the effort to bring the measure, H.R. 1031, to the Floor of the House using a parliamentary procedure called the "previous… Read more »

At a hearing to consider Republican proposals to “preserve consumer choice” today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, expressed skepticism with the majority’s assertion that these proposals would accomplish anything for our nation’s consumers. Waters pointed out the irony of the hearing’s theme, noting that most proposals to be… Read more »

Today, Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl Grijalva (D-AZ) and Keith Ellison (D-MN) joined Financial Services Committee Ranking Member Maxine Waters (D-CA) in calling on the Securities and Exchange Commission (SEC) to finalize its rule requiring publicly-traded corporations to publicly disclose the ratio of the compensation for their CEO to the compensation of… Read more »

Today, House Republicans rejected a Democratic motion to bring legislation to reauthorize, reform and re-energize the Export-Import Bank up for a vote. Using a parliamentary procedure called the "previous question," House Republicans blocked an effort to bring H.R. 1031, the “Promoting U.S. Jobs through Exports Act of 2015” to the House floor. This legislation, which has 190 Democratic… Read more »

At today’s Financial Services Committee hearing with Treasury Secretary Jack Lew, Ranking Member Maxine Waters (D-CA) continued to express her disappointment with the Republican refusal to ratify the International Monetary Fund (IMF) quota reform package. In her remarks, Waters underscored the importance of approving the package, and laid out the harmful impact delaying these reforms will… Read more »