Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, praised today’s announcement by Federal Housing Finance Agency (FHFA) Director Mel Watt that he will finally fund the Housing Trust Fund, a permanent federal fund that focuses on providing support to states to build, preserve and ultimately increase the supply of affordable rental housing for… Read more »

Following reports of the possible inclusion of a provision to roll back key taxpayer protections against derivatives trading in the soon to be released government funding package, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Service Committee, expressed her extreme disappointment with efforts to undermine the Dodd-Frank Act. She released the following… Read more »

Today on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, criticized House Republican leadership and committee Chairman Jeb Hensarling (R-TX) for a bad faith negotiation on the renewal of the Terrorism Risk Insurance Act (TRIA). Waters, a strong supporter of TRIA, objected to the troubling process by which unrelated… Read more »

As Congress works to pass legislation that will continue funding federal agencies for next year, fourteen representatives of the Greater Los Angeles Area have called on House appropriators to use that process to halt the closure of the Department of Housing and Urban Development’s (HUD) Multifamily field office in Los Angeles. In a letter to House appropriators led by Congresswoman… Read more »

Two prominent members of the Financial Services Committee, Ranking Member Maxine Waters (D-CA) and Congressman Stephen Lynch (D-MA), are calling on the Securities and Exchange Commission (SEC) to study the North American Securities Administrators Association’s (NASAA) new Coordinated Review program, and not “undermine crucial investor protections by preempting the states’… Read more »

Today, in a press conference at the U.S. Capitol, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, led members of the Democratic caucus in calling for a long-term renewal of the Terrorism Risk Insurance Act, which is set to expire at the end of 2014. The Ranking Member was joined by key members of Democratic House leadership, Leader Nancy Pelosi… Read more »

This week, Democratic leaders of the House Financial Services Committee and the Congressional Progressive Caucus expressed concern that a trade deal currently under negotiation between the U.S. and the European Union could restrict the ability of Congress to enact measures aimed at promoting growth and stability and protecting the rights of consumers. In a letter led by Congresswoman… Read more »

Today, as the House of Representatives considered the Native American Housing Assistance and Self-Determination Reauthorization Act of 2014 (H.R. 4329), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed serious concerns about the legislation, which would reauthorize the Native American Housing Assistance and Self-Determination Act (NAHASDA).… Read more »

Following the passage of H.R. 5421, the Financial Institution Bankruptcy Act of 2014, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, made clear her position that this technical change to the federal bankruptcy code does not mean we should revisit or fundamentally change the important protections enacted under the Dodd-Frank Wall Street Reform Act.… Read more »

U.S. leadership critical to preserving global economic order As the 113th Congress prepares to adjourn, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, is calling on Committee Chairman Jeb Hensarling (R-TX) to take action to affirm U.S. support for international entities that support projects to combat hunger, poverty and inequality in the world’s… Read more »

Following today’s release of the Federal Housing Administration’s actuarial report, the Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following remarks: “Today’s announcement makes clear that FHA is on the right track, and is appropriately recovering from its unprecedented work keeping our housing market afloat during the worst… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, released the following statement in reaction to the announcement that the Department of Labor (DOL) will grant a hearing  to examine its proposal to waive sanctions imposed on Credit Suisse. Credit Suisse recently pled guilty for conspiring to aid tax evasion. In October, Waters joined… Read more »

At today’s Financial Services Committee Hearing focused on Terrorist Financing and the Islamic State, Ranking Members Maxine Waters (D-CA) discussed the seriousness of the threat from ISIL and the challenges to curtailing its current, largely internal funding stream. However, the Ranking Member also underscored importance of strengthening our counter-terrorism and anti-money laundering… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, today released the following statement in support of the Consumer Financial Protection Bureau’s (CFPB) newly proposed federal consumer protections for prepaid cards. Waters praised the action, citing an increased reliance on alternatives by the unbanked and underbanked. The Ranking Member also… Read more »

Today, eight Democratic members of House Committees on Financial Services and Oversight and Government Reform (OGR) called on the Securities and Exchange Commission (SEC) to send a strong message that corporate practices to deter whistleblowers from reporting violations of securities laws will not be tolerated. In a letter to SEC Chair Mary Jo White, Financial Services Ranking Member… Read more »

Following President Obama’s announcement of a new initiative designed to provide consumers with more tools to assist victims of identity theft, improve the government’s payment security, and accelerate the transition to stronger security technologies, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement of support: “I hope… Read more »

Today, two key lawmakers on the House Financial Services Committee unveiled a bipartisan discussion draft of legislation to renew and reform the charter of the Export-Import Bank (Ex-Im Bank), an agency that supports hundreds of thousands of jobs and levels the playing field so that American businesses are able to compete successfully in global markets. Rep. Gary Miller (R-CA),… Read more »

Today, three prominent members of the House of Representatives expressed serious concern with, and called for a hearing to examine, a proposal by the Department of Labor to waive sanctions imposed on Credit Suisse stemming from its guilty plea for conspiring to aid tax evasion for over two decades.  In a strongly-worded letter to Labor Secretary Thomas Perez, Reps. Maxine Waters… Read more »

Following yesterday’s announcement that the recent data breach at JP Morgan compromised contact information for about 76 million households and 7 million small businesses, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, today released the following statement, expressing concern and calling on Committee Republicans to make the issue an immediate… Read more »

Today, a trio of House Democratic lawmakers called on Republican leadership of the Financial Services Committee to hold a hearing to review the culture and management practices within the Federal Reserve Bank of New York. Citing a September 26 media report that indicated a risk averse culture where the Federal Reserve was deferential to the very entities it was charged with… Read more »

Following the House of Representatives vote on a spending measure that extends government funding through December 11th, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, expressed disappointment with a provision to extend the Export-Import Bank’s Charter for only nine months, and explained how it is an unfortunate step toward its possible demise. She… Read more »

Following the news that the U.S. District Court for the District of Columbia largely rejected a challenge to the way the Commodity Futures Trading Commission applies its derivatives rules overseas, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, released the following statement: “Today, proponents of… Read more »

Today, Congresswoman Maxine Waters (D-CA-43), Ranking Member of the Financial Services Committee, expressed support for the Consumer Financial Protection Bureau's announcement that it would take legal action against Corinthian Colleges, Inc. for its predatory lending practices. Upon hearing the news, Rep. Waters reiterated her support for an unqualified ability for all students… Read more »

WASHINGTON, DC – Citing abuse of the legislative process by House Republicans, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, voiced her strong opposition to two measures that came before the House tonight. Waters expressed her frustration with the circumventing of the legislative process to bring large and controversial measures to the floor… Read more »

WASHINGTON, D.C. – At today’s subcommittee hearing to examine our nation’s credit reporting system, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, commented on the release of her proposal to comprehensively reform our nation’s consumer reporting system.  She gave the following statement: “Chair Capito, I’d like to thank you and Chairman… Read more »