Ranking Member Maxine Waters (D-CA) and Representatives Keith Ellison (D-MN), Emanuel Cleaver (D-MO), and Michael Capuano (D-MA) are calling for a joint Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) investigation in response to the Seattle Times and Buzzfeed News’ investigative series concerning allegations of discriminatory lending and collection practices… Read more »

In response to a Democratic staff report highlighting shortcomings in personnel diversity policies and practices at seven major financial regulators, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, along with senior members of the panel and members of the Tri-Caucus, released the agencies’ responses to the report’s recommendations for enhancing… Read more »

Following the vote by the Federal Open Market Committee (FOMC) to raise the federal funds rate target by 25 basis points, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, cautioned policymakers to carefully consider the adverse impact that further rate increases would entail for low income Americans and minority communities. Ranking Member… Read more »

In response to recent violent attacks in San Bernardino, CA and abroad, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, has re-introduced legislation to heighten accountability on financial institutions to improve anti-money laundering and counter-terrorism safeguards. By holding bank executives personally liable and increasing penalties for… Read more »

During a hearing where members of the Financial Stability Oversight Council, or FSOC, appeared before the full Committee, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, underscored the need for a coordinating regulatory body in the wake of the financial crisis and highlighted its work to provide stability to investors, consumers and our national… Read more »

As the House completed votes on final passage of H.R. 22, and with it the four-year reauthorization of the Export-Import Bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, hosted a press conference to mark the long-awaited renewal of the export credit agency. Waters discussed the many ways she and other supporters have worked to achieve… Read more »

During floor consideration of H.R. 3189, the so-called FORM Act, Congresswoman Maxine Waters (D-CA), Ranking Member of Financial Services Committee, urged rejection of the bill, which seeks to hamstring the Federal Reserve’s ability respond to variable market conditions, limit its independence, and undercut its efforts to fulfill its dual mandate. H.R. 3189 also adds an additional… Read more »

During general debate on the Portfolio Lending and Mortgage Access Act, H.R. 1210, on the House floor today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led opposition to the measure, which would allow the largest banks in the country to make the sorts of predatory and risky loans that left the American economy on the brink of collapse.… Read more »

Delivering remarks on the House floor in opposition to H.R. 1737 today, Congresswoman Maxine Waters (D-CA), Ranking Member of Committee on Financial Services, denounced efforts to undermine policies to root out longstanding discriminatory lending practices in auto financing. Waters specifically pointed to the consequences of the bill, which would nullify critical guidance to prevent… Read more »

Following the release of the results of the most recent independent actuarial analysis, which indicate that the Mutual Mortgage Insurance Fund (MMIF) has reached its Congressionally mandated capital reserve ratio, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded FHA’s efforts to both strengthen the MMIF and expand access to homeownership… Read more »

In response to a solicitation by House Financial Services Committee Chairman Jeb Hensarling (R-TX) for the public to offer ideas on alleviating poverty and housing affordability in light of the Department of Housing and Urban Development’s (HUD) 50th anniversary, Ranking Member Maxine Waters (D-CA), outlined a number of existing, proven approaches that already are helping to improve HUD’s… Read more »

United States Senators Elizabeth Warren (D-Mass.), Chris Murphy (D-Conn.), and Senate Committee on Health, Education, Labor and Pensions (HELP) Ranking Member Patty Murray (D-Wash.), along with House Committee on Financial Services Ranking Member Maxine Waters (D-Calif.), House Committee on Education and the Workforce Ranking Member Bobby Scott (D-Va.), and 12 other congressional leaders… Read more »

Financial Services Committee Democrats, led by Ranking Member Maxine Waters (D-CA), participated in a Subcommittee field hearing, requested by Democrats, held today at the Port of New Orleans to commemorate the 10-year anniversary of Hurricane Katrina and review Federal efforts to support the City’s recovery. Several officials participated in the day’s events, including Housing and… Read more »

Following passage today of H.R. 22, the DRIVE Act, by a vote of 371 – 54, which included a hard-fought, long-term reauthorization of the Export-Import Bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, praised colleagues, exporters, workers and business owners, and a broad coalition of advocacy groups on their tireless efforts to revive the… Read more »

Federal financial services agencies have yet to reflect the racial and ethnic diversity of the American population in their workforces – this according to a Democratic Financial Services Committee staff report released during a press conference today led by Rep. Maxine Waters (D-CA), Ranking Member of the Financial Services Committee. Senior Democratic Members in attendance included the… Read more »

In advance of testimony by Chair Janet Yellen to discuss the Federal Reserve Board’s implementation of Dodd- Frank rules, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, pointed out the importance of the Fed’s supervisory role in preventing large banks and firms like AIG from ever destabilizing the American financial system again. The top… Read more »

On Thursday, November 5, 2015 at 10:00 a.m., Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, will join representatives and chairs of the tri-caucus to unveil a report, highlighting federal financial services agencies’ current compliance with federal diversity provisions, trends in performance review evaluations and workforce diversity throughout… Read more »

Following the release of a new Department of Education rule this week, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, joined Committee on Education and the Workforce Ranking Member Rep. Bobby Scott (D-VA) and Rep. Peter Welch (D-VT) in expressing their support for critical protections that would put an end to financial companies steering college… Read more »

In remarks on the House floor today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led Democrats in opposition to H.R. 1090, the so-called Retail Investor Protection Act, a measure that would stall the Department of Labor’s rulemaking establishing critical consumer protections from conflicted investment advice. The top Democrat outlined the… Read more »

In an effort to address a rapid decline in the availability of affordable housing, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today introduced the Project Based Voucher Improvement Act. The bill would allow public housing authorities (PHAs) increased flexibility to develop new units of housing to serve vulnerable populations, including the… Read more »

In opening remarks during a hearing in observance of the 50th anniversary of the U.S. Department of Housing and Urban Development (HUD), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, outlined the accomplishments of the agency and the impact HUD has had in the lives of America’s most vulnerable individuals and families. Waters also focused… Read more »

The leading Democrats on the Senate Banking and House Financial Services Committees today voiced their strong objections to Republican efforts to use must-pass government funding legislation to repeal, undermine, or delay financial reforms and consumer protections. In a letter to Congressional leaders, Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) said they will oppose… Read more »

In advance of a Committee hearing on the 50th anniversary of the Department of Housing and Urban Development (HUD), Congresswoman Maxine Waters (D-CA), Ranking Member of the U.S. House of Representatives’ Committee on Financial Services, joined by Committee colleagues Rep. Emanuel Cleaver (D-MO), Ranking Member of the Subcommittee on Housing… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Democrat on the Financial Services Committee in the U.S. House of Representatives, offered the following statement for the record in response to a special meeting of the Los Angeles County Board of Supervisors earlier today with Mayor Eric Garcetti and U.S. Department of Housing and Urban Development Secretary Juliàn Castro to address the City… Read more »

In advance of a hearing to examine the effectiveness of the Department of Housing and Urban Development in light of its 50th anniversary, Ranking Member Maxine Waters (D-CA), will lead a group of Financial Services Committee Members on a tour of the N Street Village – a homeless service provider for low-income and homeless women in Washington, D.C. – to highlight the critical need for… Read more »