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 »

As many employees prepare to miss their first paycheck as a result of the Federal Government shutdown, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, lauded the action of five federal financial services agencies that today called on financial institutions to work with customers that have been affected.  In a letter to the heads of the… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in anticipation of the nomination of Janet Yellen as Chairman of the Board of Governors of the Federal Reserve. “President Obama’s choice in nominating Janet Yellen to lead the Fed is both historic and important for our nation’s economy. Ms. Yellen’s experience as… Read more »

In a speech on the floor of the House of Representatives, Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today highlighted the serious consequences of the U.S. defaulting on its debt. Waters also urged Republicans to stop using the debt ceiling to push extremist ideology, calling for a vote on a clean debt-limit increase. She delivered the following… Read more »

With only 13 days until the nation reaches its debt limit, and in the aftermath of the Department of Treasury’s report on the impact of defaulting on our debt, Congresswoman Maxine Waters (D-CA) today called on Republicans to stop threatening the nation’s economy to move their ideological priorities. She released the following statement: “As if the consequences of a government shutdown… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement in reaction to a Consumer Financial Protection Bureau (CFPB) report on the early success of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The report finds that protections under the Act benefitted consumers by reducing unfair and excessive… Read more »

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement on the Republican-imposed government shutdown. “The irresponsibility of the Republican Party cannot be overstated. As we slowly emerge from the worst economic crisis in over 70 years, I am saddened that ideological extremism has led to another self-inflicted wound that… Read more »

Bipartisan letter backed by 73 Member of Congress In a bipartisan letter, 73 Members of the House of Representatives called on Speaker John Boehner and Minority Leader Nancy Pelosi to take immediate action to address affordability issues surrounding the National Flood Insurance Program. Spearheaded by Congresswoman Maxine Waters (D-CA), top Democrat on the Financial Services Committee and… Read more »

On the eve of a multi-state rally to “Stop the Exorbitant Rise in Flood Insurance Premiums,” Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, released the following statement: “I am outraged by the increased costs of flood insurance premiums that have resulted from the Biggert-Waters Act. I certainly did not intend for these types of outrageous… Read more »

Democratic lawmakers in the House and Senate today expressed deep concern over financial arrangements between colleges and banks that could steer financially-strapped students into fee-laden debit cards that increase the costs of college. In letters sent to some of the nation’s largest banks, the legislators ask bank executives to explain the scope of any such arrangements, how much money… Read more »

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to reports of a likely shortfall in capital reserve funds at the Federal Housing Administration: “During the worst of the crisis, when the private sector virtually left the market, the Federal Housing Administration stepped up and provided the liquidity that… Read more »

Letters in Support of extending TRIA     House Financial Services Committee Holds First in a Series of Hearings on TRIA Program   Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing on the Terrorism Risk Insurance Act, known as TRIA. TRIA was enacted in… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in response to actions by U.S. and UK regulators to levy a nearly $1 billion fine against JP Morgan. “Today’s announcement of fines levied against JP Morgan validates Congress’ decision to provide our regulators with broad authority to regulate derivatives… Read more »

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement upon the announcement of the continuation of the Federal Reserve’s asset purchase program known as “quantitative easing.” “I am a strong supporter of the actions that Chairman Ben Bernanke and members of the Federal Open Market Committee (FMOC) have taken over the last… Read more »

House Financial Services Committee Reviews Agency’s Semi-Annual Report Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing to discuss “The Semi-Annual Report of the Consumer Financial Protection Bureau (CFPB).” The hearing featured CFPB Director Richard Corday. Ranking… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement expressing her continued commitment to the people of the Gulf Region, many of whom are still dealing with the aftermath of Hurricane Katrina. “On the eighth anniversary of the landfall of Hurricane Katrina, I stand with the people of the Gulf Region in remembrance… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to President Barack Obama’s speech outlining his plan for housing finance reform in Phoenix. “I’m pleased that the President is making housing finance reform a top priority, and has outlined an approach that is consistent with our recently-released… Read more »

Financial Services Committee Ranking Member Maxine Waters, today joined by 37 of her fellow Democrats, delivered a letter urging President Obama to nominate Janet Yellen, current Vice Chairman of the Board of Governors of the Federal Reserve System, to replace Ben Bernanke as Chairman of the Federal Reserve when his term expires. The letter notes that Vice Chairman Yellen has… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee released the following statement in response to committee passage of the inaptly-named “Protecting American Taxpayers and Homeowners Act” or “PATH Act” (H.R. 2767). H.R. 2767 is a Republican bill that would unwind Fannie Mae and Freddie Mac and remove any government support from the secondary mortgage… Read more »