As House Republicans prepare to set parameters for the upcoming debate over legislation to fundamentally change the Terrorism Risk Insurance Act (TRIA), 27 Democrats on the Financial Services Committee have called for a full, open debate on the legislation. In a letter to Speaker John Boehner (R-OH) and Rules committee Chairman Pete Sessions (R-TX), the lawmakers renewed their… Read more »

As the House of Representatives considers the harmful Republican financial services and general government appropriations proposal, Congresswoman Maxine Waters (D-CA), Ranking Democrat on the Financial Services Committee, offered three amendments designed to provide adequate resources to our financial regulators. The amendments build off concerns raised by Waters last week, when she… Read more »

Citing the Securities and Exchange Commission’s (SEC) “abysmal” number of annual investment advisor examinations, the top Democrat on the House Financial Services Committee is calling on its Chairman to consider legislative proposals that would increase these reviews. In a letter to Committee Chairman Jeb Hensarling (R-TX), Ranking Member Maxine Waters (D-CA) noted that despite… Read more »

At today’s full committee hearing to discuss legislation purported to “reform” the Federal Reserve, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, expressed serious concerns with the proposal’s impact on the Fed’s  ability to promote growth, stabilize the economy and take decisive action to avoid an economic collapse. Citing… Read more »

As the House of Representatives moves toward consideration of a financial services spending bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized Republicans for attempting to use an appropriations measure to make controversial legislative changes that would undermine consumer protection, weaken important Wall Street reforms and hurt… Read more »

WASHINGTON, D.C. – In the aftermath of a divisive Export-Import Bank hearing for the Republican Party, Congresswoman Maxine Waters (D-CA) called on Financial Services Committee Chairman Jeb Hensarling (R-TX) to heed the calls of his Republican caucus and strike a deal on the Bank. “It is clear from yesterday’s hearing that not only does a majority of the House of Representatives support… Read more »

In response to the Department of Housing and Urban Development’s (HUD) solicitation of comment on its controversial “Promise Zones” program, Congresswoman Maxine Waters (D-CA-43) expressed her deep concerns with the proposed selection process and called on the Department to ensure that it does not leave our nation’s hardest hit communities behind. In a letter to HUD Secretary… Read more »

At today’s full committee hearing to discuss the future of the Export-Import Bank,Congresswoman Maxine Waters (D-CA) blasted Republicans for giving in to the extremist element of the Republican party in pushing to end the Bank. The Ranking Member of the Financial Services Committee underscored the importance of the Bank to American jobs, small businesses and the economy, as well as… Read more »

Following the release of a report from the Federal Housing Finance Agency (FHFA) Office of Inspector General (OIG) urging officials to take legal action against servicers and insurers over practices related to force-placed insurance, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, praised the FHFA for investigating the issue, and raised… Read more »

 In the aftermath of a divisive Export-Import Bank hearing for the Republican Party,Congresswoman Maxine Waters (D-CA) called on Financial Services Committee Chairman Jeb Hensarling (R-TX) to heed the calls of his Republican caucus and strike a deal on the Bank. “It is clear from yesterday’s hearing that not only does a majority of the House of Representatives support renewing… Read more »

At today’s full committee hearing to discuss the Financial Stability Oversight Council (FSOC) with Treasury Secretary Jack Lew, Congresswoman Maxine Waters (D-CA) highlighted the important work of the Council in identifying systemic risk and protecting American homeowners, consumers, and the economy. Specifically, the Ranking Member of the Committee on Financial Services… Read more »

In response to statements made by Rep. Kevin McCarthy regarding his newfound opposition to the Export-Import Bank, a critical lifeline for countless American businesses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, blasted the newly-elected leader’s reversal of position on the Bank’s future. The comments come just one day before the… Read more »

As the House of Representatives considers a bill to renew the Commodities Futures Trading Commission (CFTC), Congresswoman Maxine Waters (D-CA), criticized provisions that would hamstring regulators’ ability to regulate the complex and important derivatives marketplace. The Ranking Member of the Committee on Financial Services criticized the provisions as a multifaceted Republican… Read more »

In today’s full committee markup, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, voiced her strong opposition to Republican measures to radically change the Terrorism Risk Insurance Act (TRIA) and undercut the Financial Stability Oversight Council (FSOC). On TRIA, Waters blasted Republicans for drafting legislation that jeopardizes a… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended Consumer Financial Protection Bureau (CFPB) Director Richard Cordray for the Bureau’s significant accomplishments in protecting our nation’s consumers and service members who have been victimized by unscrupulous corporations and financial institutions. At today’s full… Read more »

In the wake of recent reports that U.S. banks are restructuring overseas derivatives transactions to sidestep critical protections enacted under the Wall Street Reform Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, has called on the top U.S. derivatives regulator to “thoroughly investigate” the removal of U.S. guarantees from arrangements… Read more »

Following the release of the Securities and Exchange Commission’s (SEC) new anticipated agenda, which includes a commitment to propose a rule on extractive industry transparency within the next ten months,  a coalition of 58 Democratic House members yesterday called on the Commission to initiate the rulemaking on a faster, more definite timeline. The rule is mandated by Section 1504… Read more »

As the House of Representatives considers a funding bill for the nation’s agriculture programs, Congresswoman Maxine Waters (D-CA) took a strong stand against Republican efforts to weaken the important role of the Commodity Futures Trading Commission (CFTC) in protecting American consumers and the economy itself.  The Ranking Member of the Financial Services Committee and… Read more »

Following the House of Representatives’ approval of a measure to fund the nation’s housing and transportation programs, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, blasted Republicans for undercutting a number of important programs that protect our nation’s seniors, veterans, families and persons with disabilities. Waters criticized House… Read more »

The House of Representatives has adopted a measure authored by Congresswoman Maxine Waters (CA-43) that would halt the closure of the Department of Housing and Urban Development’s (HUD) multifamily field office in Los Angeles. The measure, which was adopted during debate over a housing and transportation funding bill, prohibits HUD from using funds appropriated to relocate… Read more »

In today’s full Committee markup, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, blasted Republicans for continuing to waste the Committee’s time and resources on measures that weaken important consumer protections, undo transparency and accountability measures for Wall Street’s biggest actors and carve out major exceptions for large public… Read more »

Following the U.S. Senate’s confirmation of three new Commissioners to the Commodities Futures Trading Commission (CFTC), Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, applauded the chamber’s action on these long-overdue nominees. The action by the Senate now gives the CFTC a full, five-member commission. She released the following… Read more »

Following the Senate Banking Committee’s markup of legislation to reauthorize the Terrorism Risk Insurance Act (TRIA), Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, applauded the committee’s progress and called on House Republicans to swiftly act to renew the program.  Waters released the following statement. “The Senate Banking… Read more »

At a time when student debt has reached record levels, and studies show those with excessive debt may be unable to gain access to credit for important purposes like a home purchase, Congresswoman Maxine Waters (CA-43) is taking steps to ensure that predatory financial products are not taking additional dollars out of the pockets of our nation’s graduates. In the midst of graduation season… Read more »

Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, gave the following remarks at today’s Subcommittee on Oversight and Investigations hearing to discuss “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau.” At the hearing, Waters continued to underscore the seriousness of the allegations at the CFPB, and again called… Read more »