Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to the release of the Federal Housing Administration’s fiscal year 2013 Annual Report:
“Although the Federal Housing Administration is not completely out of the woods, today’s numbers show crucial improvements in its solvency and stability. FHA’s Mutual… Read more »
At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters discussed the issue of growing income inequality and called for action by increasing the minimum wage, extending unemployment insurance, and providing trade adjustment and other assistance for those in the U.S. clustered in the low-skill end, who are disadvantaged by globalization. She… Read more »
Today, at a hearing to examine the mandates of the Federal Reserve, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, underscored the success of the Fed in stabilizing markets and reducing unemployment in the wake of the financial crisis. She also cautioned lawmakers seeking to make legislative changes to the Fed or its mandate that Congress should allow it… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today commented on the release of the U.S. Department of the Treasury’s Federal Insurance Office (FIO) report to Congress on “How to Modernize and Improve the System of Insurance Regulation in the United States.” The FIO was created by the Dodd-Frank Wall Street Reform Act of 2010, and makes… Read more »
In reaction to legislation introduced by Rep. Bill Cassidy (R-LA), Congresswoman Maxine Waters (D-CA) the top Democrat on the Financial Services Committee and co-author of the Biggert-Waters flood insurance bill, today expressed her strong opposition to the measure.
“Time and again, I have made clear that I am committed to resolving the problems that have resulted from the implementation… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement following the approval of the “Volcker Rule,” which bans proprietary trading by banks.
“A seminal component of the 2010 Wall Street Reform Act was the inclusion of the ‘Volcker Rule,’ designed to stop banks from using taxpayer-backed customer deposits for trades… Read more »
Following the confirmation of Congressman Mel Watt (D-NC) 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 elated that after months of uncertainty and obstruction, the U.S. Senate has finally confirmed Congressman Mel Watt to head the… Read more »
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 »
