As the U.S. Senate prepares to vote on the nomination of Congressman Mel Watt (D-NC) to be Director of the Federal Housing Finance Agency (FHFA), the Democratic members of the House Committee on Financial Services have expressed their strong support for his nomination and urged his immediate confirmation.
In a letter to Senate leaders Harry Reid (D-NV) and Mitch McConnell (R-KY), Watt’s… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in reaction to the agenda of the Securities and Exchange Commission (SEC), which was released last week.
“While I’m pleased to see the SEC will be dealing with a number of important issues next year, including derivatives regulation and measures to increase… Read more »
At a Financial Services Committee markup of six bills designed to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee, blasted the measures as efforts to weaken CFPB’s ability to be an effective, independent advocate for consumers.
Waters highlighted the CFPB’s remarkable record of success in just over two years,… Read more »
Today, at a hearing to examine the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, asked FEMA administrator Craig Fugate tough questions about its implementation of the NFIP, and why he had not notified lawmakers of dramatic rate increases that many are experiencing as a result of changes to the Program.… Read more »
As the House and Senate work to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico, three leading House Democratic lawmakers called on Senate Majority Leader Harry Reid (D-NV) to reject House Republican efforts to waive a provision in the Dodd-Frank Wall Street Reform and Consumer… Read more »
Waters, Warren, Cummings Call on OCC, Fed to Release Information on Mortgage Servicing Settlement
strongIn the absence of a long-promised public report, leading Democratic Members of Congress have called on federal regulators to disclose critically important information related to the Independent Foreclosure Review (IFR) process for 14 mortgage servicers and the $9.3 billion settlement… Read more »
Financial Services Committee Holds Markup of Five Bills
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following remarks as part of a Committee markup on five pieces of legislation aimed to assist small businesses and provide relief to small financial institutions.
In her statement, Waters applauded the… Read more »
Financial Services Subcommittee Holds Hearing on TRIA Program
Today, at a Committee on Financial Services’ Housing and Insurance Subcommittee hearing, Ranking Member Maxine Waters (D-CA) called for the quick, clean and long-term renewal of the Terrorism Risk Insurance Act, known as TRIA.
At the hearing, entitled “The Future of Terrorism Insurance: Fostering Private Market Innovation to… Read more »
Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, has been named a 2013 “Woman of Influence” by HousingWire, a leading news outlet covering the U.S. housing economy, spanning mortgage lending, servicing, investments and real estate operations.
Waters was recognized for her efforts to ensure American families are provided adequate consumer… Read more »
Outlines priorities for new sovereign debt restructuring framework
Today, at a Capitol Hill briefing on “Responsible Lending and Borrowing and the Impact of Holdout Creditors for the Extreme Poor,” Congresswoman Maxine Waters, in a statement, called for the establishment of a formal, institutionalized, and politically recognized mechanism for restructuring the debt of bankrupt… Read more »
Upon news of the passing of D. Michael ‘Mickey’ Collins, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement.
“I am deeply saddened to hear of the passing of D. Michael ‘Mickey’ Collins. From 1999 until earlier this year, Mickey was a tireless advocate at the Federal Deposit Insurance Corporation (FDIC) for diversity in the… Read more »
Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in reaction to the failure of the U.S. Senate to invoke cloture on Melvin L. Watt as Director of the Federal Housing Finance Agency.
“I am extremely disappointed that the U.S. Senate has blocked the nomination of Mel Watt to head the Federal Housing Finance Agency. Mel… Read more »
At a press conference calling on the U.S. Senate to confirm Melvin L. Watt as Director of the Federal Housing Finance Agency, Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in strong support.
“I am pleased that the U.S. Senate is moving forward with the nomination of Representative Mel Watt to head the Federal… Read more »
Congresswoman Maxine Waters (D-CA) and Former Representatives Barney Frank today released the statements in opposition to H.R. 992, the Swaps Regulatory Improvement Act. Waters led opposition on the House Floor and expressed her concerns about weakening of Dodd-Frank reforms before regulators have completed them.
Waters stated:
“The financial crisis of 2008 wreaked untold havoc on the… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing on the Federal Housing Administration’s reserves shortfall:
As prepared for delivery:
Thank you, Mr. Chairman.
Commissioner Galante, I am very pleased you have appeared before this committee today.
I would like to applaud… Read more »
On the one year anniversary of Superstorm Sandy, a broad, bipartisan coalition of over 80 Members of the House of Representatives have introduced a legislative solution to fix the National Flood Insurance Program (NFIP) and ensure changes are implemented affordably.
The legislation, led by Representatives Maxine Waters (D-CA), Michael Grimm (R-NY) and Cedric Richmond (D-LA), calls for a… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today released the following statement regarding her opposition to H.R. 2374, the Retail Investor Protection Act. Waters led opposition on the House Floor and expressed her concerns about how the deceptively-titled legislation would undermine protections for those trying to save for retirement.… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, has announced a bipartisan legislative solution to fix the National Flood Insurance Program (NFIP) and ensure changes are implemented affordably. In essence, the legislation calls for a four-year delay to the program and requires FEMA to complete an affordability study and propose regulations that… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to news that the U.S. Export-Import Bank generated a profit of more than $1 billion in fiscal year 2013, which was reported on Wednesday:
“I am very pleased with yesterday’s news that the Export-Import Bank has delivered more than $1 billion in revenue… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to news that the Commodities Future Trading Commission will be forced to furlough personnel for as many as 14 days in 2014 because of cutbacks in funding due to the sequester:
“I’m deeply troubled, though not surprised, to learn that the Commodity… Read more »
In the wake of massive money laundering scandals at U.S. banks that allowed terrorist, drug and other illicit money to flow through the economy, two leading Democratic lawmakers introduced two measures to crack down on misconduct and help clean up the system.
Rep. Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Rep. Carolyn Maloney (D-NY), the… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement following the House of Representatives vote on legislation to raise the debt limit and end the government shutdown.
“I’m pleased that Congress has finally voted to end this unnecessary government shutdown and debt limit crisis. However, I remain concerned that the… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, hosted a bipartisan panel discussion on the implications of a U.S. debt limit default on the American economy and global financial markets.
The panel, entitled “On the Brink: Implications of U.S. Default on the Economy and Global Financial Markets” painted a bleak picture about how… Read more »
Waters leads 30 Democrats in House Resolution
Today, leading Democratic lawmakers called on financial institutions to work proactively with their customers facing financial distress as a result of the shutdown of the Federal Government. Fourteen days into the shutdown, many employees have now seen their first diminished paycheck, leaving them facing short-term financial hardship and… Read more »
As the keynote speaker today at the launch of a civil society report on global financial governance, Congresswoman Maxine Waters discussed the challenges of globalization, the importance of the international financial institutions, and the problem of growing inequality in both advanced and some emerging market countries.
In a speech that touched upon a range of issues related to… Read more »
