In a highly charged meeting of the Financial Services Committee to consider the fiscal year 2016 “Budget Views and Estimates” Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, chastised Committee Republicans for putting forth a budget that fails to provide real solutions that will address the problems of income inequality, the racial wealth gap, slow… Read more »

In advance of testimony by Federal Housing Finance Agency (FHFA) Director Mel Watt before the House Financial Services Committee, Ranking Member Maxine Waters (D-CA) commended the Agency’s efforts to ensure that America’s housing market remains affordable and works for everyone. At a hearing to receive an “An Update from the Director of the Federal Housing Finance Agency,” which is… Read more »

Ranking Member Maxine Waters (D-CA) today announced subcommittee assignments for the Democratic Members of the House Financial Services Committee. The Ranking Members of each subcommittee were chosen through a selection process based on seniority, with the confirmation of all Committee members. Positions on each subcommittee were secured through an open-bidding process in which all… Read more »

In remarks at the Financial Services Committee markup of its Oversight Plan, which is required by House rules to outline Committee work during the 114th session of Congress, Ranking Member Maxine Waters underscored some of her top priorities for the coming two years. Acknowledging a modest departure from the more contentious oversight plan of the 113th Congress, the Ranking Member… Read more »

Today, as the House Financial Services Committee met for the first time in the 114th Congress to consider its rules, Ranking Member Maxine Waters (D-CA) criticized a proposal by Chairman Jeb Hensarling (R-TX) to dramatically change the Committee’s rules. Of the many proposed changes, the most egregious include providing unilateral authority to the Chairman to issue and authorize… 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 »

At today’s Financial Services Committee Hearing entitled, “Assessing the Impact of the Dodd-Frank Act Four Years Later” Ranking Member Maxine Waters (D-CA) issued a strong rebuke to Republican attacks on the landmark law, recounting the devastation of the crisis, the success of the law thus far, and documenting Republicans’ efforts to return to the practices that brought the economy to… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, announced that former Chairman Barney Frank (D-MA) will return to Congress this Wednesday to testify at a hearing to assess “the Impact of the Dodd-Frank Act Four Years Later.” “For 20 years, Barney Frank and I worked together closely on the Financial Services Committee, but… Read more »

As Federal Reserve Chair Janet Yellen returned to testify before the House Financial Services Committee today, Congresswoman Maxine Waters (D-CA), the Ranking Democrat, laid out the significant challenges that lie ahead for the Fed, underscored the need to continue the unfinished business of Wall Street Reform and criticized Republican efforts to undermine the independence of… Read more »

At today’s full committee hearing to discuss legislation purported to “reform” the Federal Reserve, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, expressed serious concerns with the proposal’s impact on the Fed’s  ability to promote growth, stabilize the economy and take decisive action to avoid an economic collapse. Citing… 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 »

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 »

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 »

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 hearing on “Oversight of the SEC's Agenda, Operations, and FY 2015 Budget Request” Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, praised Securities and Exchange Commission (SEC) Chair Mary Jo White for the Commission’s  progress implementing the Dodd Frank Wall Street Reform Act. She also underscored the need to accomplish… Read more »

At today’s Financial Services Committee hearing with regulatory officials to discuss “government red tape,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, applauded regulators for putting the financial system on more stable footing after the worst economic crisis in a generation, and criticized the majority for continuing to push an… Read more »

In today’s Financial Services Committee hearing on “Why Debt Matters,” Ranking Member Maxine Waters (D-CA), underscored the importance of promoting growth and reducing income inequality through short-term increases in discretionary fiscal stimulus in order to reduce the nation’s debt and deficit.  In her remarks, Waters criticized austerity measures such as the Sequester for… Read more »

A politically fraught fight over flood insurance has prompted a split between the House Republican leadership and a top committee chairman, forcing senior GOP lawmakers to bargain for votes instead with liberal Rep. Maxine Waters (Calif.), the panel’s top Democrat. GOP leaders have struggled to gain enough support to pass a House alternative to flood insurance legislation the Senate… Read more »

As Federal Reserve Chair Janet Yellen made her first appearance before Congress, Congresswoman Maxine Waters (D-CA), top Democrat on the House Financial Services Committee, congratulated Yellen on her historic appointment and record of accomplishment. Waters also praised Yellen’s support for bold action to stabilize the economy and underscored her belief that more needs to be done to… Read more »

  At today’s Financial Services Committee hearing featuring the five agencies charged with promulgating the Volcker Rule, Congresswoman Maxine Waters (D-CA), top Democrat on the Committee, commended regulators for working to put forth a strong rule that will ensure a more stable financial system. Passed as part of the Wall Street Reform Act, the Volcker Rule ensures taxpayer dollars… Read more »

Today, Congresswoman Maxine Waters, 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 committee hearing… Read more »

  Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, touted the importance of the recently-released Volcker Rule for ensuring taxpayer dollars are no longer used to protect banks from risky trading losses. In a statement delivered in a hearing of the full Financial Services Committee on the measure, Waters underscored that a strongly… 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 »

WASHINGTON — With the leading House Republican plan to overhaul the mortgage finance market stuck in limbo, several Democrats have begun work on alternative proposals that could further divide support for the GOP bill. Rep. Jeb Hensarling, chairman of the House Financial Services Committee, introduced his legislation to unwind Fannie Mae and Freddie Mac and remove a government backstop… Read more »