Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) notice of proposed rulemaking entitled, “Personal Financial Data Rights,” which if finalized would implement Section 1033 of the Dodd-Frank Act regarding consumer data rights and market competition. The… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Senate’s vote to block the Consumer Financial Protection Bureau’s (CFPB) small business lending data collection rule. The CFPB has long been supported by Congresswoman Waters and is the only federal agency dedicated to protecting consumers from a… Read more »

This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, accepted the 2023 Community Development Financial Institutions (CDFI) Congressional Champion Awards from the Opportunity Finance Network. This award honors Members of Congress who have been leaders in support of the CDFI industry.       “It’s an honor to receive… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Biden Administration’s latest action to crack down on junk fees and bring down costs for American consumers. “I applaud President Biden, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, and Federal Trade Commission (FTC)… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Service Committee released this statement following oral arguments this week in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA), regarding the constitutionality of the agency’s independent funding structure. “As the Solicitor General made clear… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee hearing entitled, “Oversight of the Securities and Exchange Commission.” Good morning. The Chairman just indicated that his patience is running thin, mine is thinner with the opposite side of the aisle and extreme MAGA… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic-led and bipartisan bills that passed during this week’s full Committee markup. H.R. 5523, the “Financial Access Improvements Act” led by Ranking Member Maxine Waters (D-CA). This bill would add optional components to the State Department’s… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee markup. When I was Chairwoman of this Committee last Congress, this Committee came together after Russia’s unprovoked invasion of Ukraine, to craft bipartisan legislation aimed at protecting Ukraine and holding Russia… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences.” Here we go again. Instead of marking up sensible bills that have bipartisan… Read more »

In a new opinion piece published today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, reflects on the 15th anniversary of the 2008 financial crisis and the lasting impact it had on families everywhere. Specifically, Congresswoman Waters emphasizes the particular importance of the anniversary of this crisis as the Supreme Court gears up to… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee hearing on Financial Institutions entitled, “Implementing Basel III: What’s the Fed’s Endgame?" We certainly did receive  a wake-up call this Spring with the failures of Silicon Valley Bank, Signature Bank, and First… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee hearing entitled, “Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States.” Good morning. My Democratic colleagues and I have… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Senate’s confirmation of Federal Reserve Governor Lisa Cook to continue serving on the Board of Governors of the Federal Reserve System (Fed) for a full term, Dr. Adriana Kugler to serve on the Fed’s Board of Governors, and Governor Phillip Jefferson… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the United States Department of the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Representatives Al Green (D-TX), Juan Vargas (D-CA), Ayanna Pressley (D-MA), Rashida Tlaib (D-MI), Nikema Williams (D-GA), Ritchie Torres (D-NY), and Steven Horsford (D-NV) sent a letter to the Director of the Federal Housing Finance Agency (FHFA), urging the agency to use its full… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Federal Trade Commission (FTC) as it continues its review of the proposed acquisition of Black Knight by Intercontinental Exchange, and negotiates a settlement agreement. In the letter, Ranking Member Waters reiterates the concerns she shared as then-Chair in her… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Government Accountability Office (GAO) expressing concerns about instances in which the use of Artificial Intelligence (AI) and other housing and property technology (PropTech), such as automated valuation models (AVMs), online housing platforms, tenant screening… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement on the week of the one-year anniversary of the Inflation Reduction Act. “A year ago this week, Democrats successfully passed the Inflation Reduction Act (IRA) into law. After just one year, we’ve seen the tremendous impact this landmark legislation has had on… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the release of the Biden Administration’s Executive Order and Advanced Notice for Proposed Rulemaking regarding Outbound Investments. “I welcome the Biden Administration’s latest actions to restrict outbound investments to China, but more needs to be… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following PayPal’s launch of its U.S. dollar-denominated stablecoin. “I am deeply concerned that PayPal has chosen to launch its own stablecoin while there is still no Federal framework for regulation, oversight, and enforcement of these assets. PayPal, with… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the CEOs of the nation’s Fortune 100 financial services companies urging them to continue their diversity and inclusion practices, particularly following threats from Republican Attorneys General pressuring them to divest from these practices, which Congresswoman Waters… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following Fitch Ratings’ decision to downgrade the United States’ long-term foreign currency issuer default rating to AA+ from AAA. “Let’s be clear: the radical and unjustifiable actions of extreme MAGA Republicans are creating the excuses for market… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement in response to the letter sent by 13 Republican Attorneys General to the CEOs of the nation’s Fortune 100 companies pressuring them to root out diversity and inclusion in their companies. “While Committee Republicans continue their efforts to dismantle… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee markup considering a package of anti-investor ESG bills, along with a rushed and problematic stablecoins bill. Thank you, Chairman McHenry. Good morning. Today, this Committee is being forced by the extreme MAGA wing of… Read more »

Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the U.S. Federal Reserve’s launch of its “FedNow” service, which is a new service that allows banks and credit unions to sign up to facilitate instant payments so they can offer customers a much quicker way to send and receive money. “I applaud the Federal… Read more »