In opening remarks during today’s semi-annual Humphrey-Hawkins hearing with Federal Reserve Chair Janet Yellen, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, touted the effectiveness of the Federal Reserve’s post-crisis monetary policy and outlined the remaining work left to do to close the wealth gap – which has been exacerbated by the… Read more »

Four leading Democratic lawmakers have introduced legislation to reauthorize, reform and re-energize the Export-Import Bank, an agency that supports hundreds of thousands of U.S. jobs and levels the playing field so that American businesses are able to compete successfully in global markets. Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, joined… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, released the following statement in reaction to President Obama’s announcement that he is directing his administration to move forward with a proposed rulemaking that will protect families by imposing a “fiduciary standard” on retirement advisors, which will ensure they put the interest of average… Read more »

In the aftermath of an agreement to provide $480 million in financial relief to students wrestling with predatory loans from now-defunct Corinthian colleges, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, has called for greater clarity surrounding the student loan servicers who are charged with forgiving the debt. In letters sent Wednesday to… Read more »

Over the course of a two-day markup of Republican fiscal year 2016 budgetary priorities in the financial services sector, Financial Services Committee Democrats fought back against a Republican effort to eliminate taxpayer protections and undermine the social safety net. Led by Ranking Member Maxine Waters (D-CA), Democrats fiercely opposed rampant mischaracterizations of critical… Read more »

In a highly charged meeting of the Financial Services Committee to consider the fiscal year 2016 “Budget Views and Estimates” Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, chastised Committee Republicans for putting forth a budget that fails to provide real solutions that will address the problems of income inequality, the racial wealth gap, slow… Read more »

Following an announcement made today by Financial Services Committee Chairman Jeb Hensarling that the Committee will embark upon “an extensive review and thorough examination of the successes and failures” of the Department of Housing and Urban Development, Ranking Member Congresswoman Maxine Waters (D-CA) issued the following statement: “I’m so pleased that Mr. Hensarling and his fellow… Read more »

At today’s Full Committee hearing on the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised Housing and Urban Development Secretary Julián Castro for his recent decision to lower FHA premiums. Over the next three years, the decision will provide an average of $900 in annual savings for approximately 2… Read more »

In response to recent revelations that HSBC, the second largest commercial bank in the world, committed numerous violations of U.S. and international tax and finance laws, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed her concern at the continued lack of accountability for the individuals associated with providing financial services for… Read more »

As the House of Representatives considered legislation weakening Wall Street’s cash-strapped regulators, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, delivered sharp remarks rebuking H.R. 50, the Unfunded Mandates Information and Transparency Act of 2015. Dubbing it as ‘anti-consumer,’ Waters criticized the burdensome, time-consuming rulemaking… Read more »

Following the Securities and Exchange Commission’s decision to waive sanctions against Oppenheimer & Co., today Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed her disappointment that the SEC issued such a broad waiver of sanctions to a company with an extensive recidivist history. Waters’ comments come as SEC Commissioners Aguilar… Read more »

Following the release of newly drafted non-bank servicer requirements today, Congresswoman Member Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended the Federal Housing Finance Agency for taking positive steps toward establishing protections to prevent American homeowners and taxpayers from falling victim to fraud and abuse. Waters, a strong… Read more »

In advance of testimony by Federal Housing Finance Agency (FHFA) Director Mel Watt before the House Financial Services Committee, Ranking Member Maxine Waters (D-CA) commended the Agency’s efforts to ensure that America’s housing market remains affordable and works for everyone. At a hearing to receive an “An Update from the Director of the Federal Housing Finance Agency,” which is… Read more »

Ranking Member Maxine Waters (D-CA) today announced subcommittee assignments for the Democratic Members of the House Financial Services Committee. The Ranking Members of each subcommittee were chosen through a selection process based on seniority, with the confirmation of all Committee members. Positions on each subcommittee were secured through an open-bidding process in which all… Read more »

In remarks at the Financial Services Committee markup of its Oversight Plan, which is required by House rules to outline Committee work during the 114th session of Congress, Ranking Member Maxine Waters underscored some of her top priorities for the coming two years. Acknowledging a modest departure from the more contentious oversight plan of the 113th Congress, the Ranking Member… Read more »

Following President Obama’s State of the Union address, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, praised the President for underscoring the importance of the Wall Street Reform Act and making clear he will veto any legislative effort to undermine it. Waters, a tireless advocate for protection the law, also praised the President for… Read more »

In advance of the Department of Labor’s (DOL) historic hearing on Credit Suisse’s petition to continue managing certain assets following a criminal conviction, Congresswoman Maxine Waters (D-CA), who requested the hearing, commended the Department and urged it to deny the bank’s waiver. At the rare public hearing, Credit Suisse’s affiliated qualified professional asset managers (QPAMs)… Read more »

Democrats, led by Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee garnered 154 “no” votes against H.R. 37, a controversial Republican package of 11 bills that will roll back certain portions of the Wall Street Reform Act. Last week, House Democrats defeated Republican efforts to fast track the same measure through a process known as suspension of the… Read more »

During a debate that did not begin until well into the evening, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, led House Democratic members in strong opposition to H.R. 37, a harmful package of 11 bills that will roll back certain portions of the Wall Street Reform Act. The legislation contains harmful provisions that undermine Dodd-Frank,… Read more »

Today, Congressman Stephen F. Lynch (D-MA) and Ranking Member Maxine Waters (D-CA), two prominent members of the Financial Services Committee, issued a statement regarding the announcement that Direct Edge will pay a $14 million fine to settle charges by the Securities and Exchange Commission that they failed to disclose how some order types, created at the behest of high frequency… Read more »

Following the news that the State of California is seeking to suspend Ocwen Financial Corp's license to operate in the state, Congresswoman Maxine Waters (CA-43), Ranking Member of the House Financial Services Committee, praised the action, which was taken following Ocwen’s failure to respond to requests for information from state regulators. She released the following statement:… Read more »

Today, as the House Financial Services Committee met for the first time in the 114th Congress to consider its rules, Ranking Member Maxine Waters (D-CA) criticized a proposal by Chairman Jeb Hensarling (R-TX) to dramatically change the Committee’s rules. Of the many proposed changes, the most egregious include providing unilateral authority to the Chairman to issue and authorize… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, gave the following testimony before the House Rules Committee on H.R. 37, a package of 11 bills designed to undermine the Dodd-Frank Wall Street Reform Act. She also spoke out against H.R. 185 which, among other provisions, places onerous cost-benefit analysis requirements on federal… Read more »

As 2014 came to a close, Financial Services Committee Ranking Member Maxine Waters (D-CA) joined with the American Civil Liberties Union (ACLU), the National Fair Housing Alliance (NFHA) and 22 other current and former lawmakers to support a doctrine that for years has been used to end discriminatory practices that create barriers to housing based on race, color, national origin,… Read more »

Following the announcement by the House Rules Committee that on Monday it will consider H.R. 37, a package of 11 bills designed to undermine important Wall Street regulation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized House Republicans for continuing to push legislation benefitting Wall Street at the hands of American consumers. This… Read more »