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 »

Following the House Appropriations Committee’s approval of a measure to fund the nation’s housing programs, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, blasted Republicans for undercutting important housing programs that protect our most vulnerable populations. The legislation, known as the Transportation, Housing and Urban Development and Related… Read more »

Following today’s report by the Consumer Financial Protection Bureau (CFPB) finding that consumers’ credit scores may be overly penalized for medical debt, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, welcomed the Bureau’s findings and called upon Committee Chairman Jeb Hensarling to hold a hearing on the issue, and on legislation Waters has introduced… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, reiterated her strong support for the Export-Import Bank and the quick renewal of its charter. Waters’ comments come in reaction to remarks made by Committee Chairman Jeb Hensarling during a speech today at the conservative Heritage Foundation, in which he once again expressed his longstanding… Read more »

At today’s full Committee hearing on the Financial Stability Oversight Council’s (FSOC) designation process,  Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, discussed the importance of the FSOC process in giving Congress and regulators the comprehensive view of the entire market necessary to identify and mitigate systemic risks. Waters also reminded… Read more »

Today, Rep. Maxine Waters, Ranking Member of the House Committee on Financial Services, announced the appointment of Charla Ouertatani as the Committee’s Staff Director. Ms. Ouertatani has held several positions under Rep. Waters during her seven years on Capitol Hill, including Deputy Staff Director, Deputy Chief of Staff/Legislative Director, Staff Director of the Housing and Insurance… Read more »

Ranking Member Supports HUD’s Fair Housing Rule As a longstanding supporter of efforts to prohibit housing discrimination and promote fair housing choice, today Congresswoman Maxine Waters (D-CA), top Democrat on the Financial Services Committee, called on the Department of Housing and Urban Development (HUD) to assert that continued investment in high-poverty, high-minority… Read more »

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters expressed her disappointment that House Republicans have refused to ratify the International Monetary Fund (IMF) quota reform package, she underscored its importance, and laid out the harmful impact delaying these reforms will have on global stability. Waters delivered these remarks… Read more »

At today’s full Committee markup on a number of pieces of legislation related to capital markets and financial institutions, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, laid out a number of concerns with the measures being considered. Waters criticized the capital markets bills for eroding  transparency and investor protections, while also… Read more »

Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, today announced changes in the Democratic membership of the Financial Services’ subcommittees. Changes were necessary due to the departure of former Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency, and the appointment of Rep. Steven Horsford (D-NV) to the Committee. Ranking Members of the… Read more »