Today, at a full Committee hearing to examine draft legislation to reauthorize the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters (D-CA)¸ Ranking Member of the Committee on Financial Services, urged Committee Members to work on a bipartisan long-term reauthorization package: As Prepared for Delivery Thank you, Mr. Chairman and welcome to all of our witnesses,… Read more »

On the first day of the House Financial Services Committee markup of H.R. 10, also known as the Wrong Choice Act, Committee Democrats fought throughout the day and into the night to protect hardworking Americans from the catastrophic damage the bill would cause. The Wrong Choice Act undermines and outright repeals critical safeguards in the Dodd-Frank Wall Street Reform and Consumer… Read more »

Today, at a full Committee markup of the Wrong Choice Act, a bill that repeals the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, this is one of the… Read more »

This week, Committee Democrats led a Minority Day Hearing on the many problems with Chairman Hensarling’s Wrong Choice Act, a bill that would repeal the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and put America on the road to another financial crisis. The hearing, which featured testimony from Senator Elizabeth Warren and other experts and… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at today's full committee hearing on the Consumer Financial Protection Bureau's (Consumer Bureau) Semi-Annual Reports to Congress with Director Richard Cordray: As Prepared for Delivery Thank you, Mr. Chairman. And thank you, Director Cordray, for joining… Read more »

Today, at a Monetary Policy and Trade Subcommittee entitled “Examining Results and Accountability at the World Bank,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you. I would like to welcome our witnesses here today to discuss one of the very important issues within our… Read more »

In a letter to Chairman Hensarling, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congressman Ed Perlmutter (D-CO), Ranking Member of the Subcommittee on Terrorism and Illicit Finance, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on… Read more »

Today, in response to the U.S. Department of Labor’s proposal to delay the implementation of its fiduciary rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am deeply disappointed that the Trump Administration has decided to once again put Wall Street ahead of Main Street by delaying a crucial protection… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, rebuked Committee Republicans for putting forth budget views that fail to address issues of wealth inequality, the racial wealth gap, homelessness, affordable housing, consumer protection, and investor protection. As Prepared for Delivery Thank you, Mr. Chairman. Today, this… Read more »

In a letter to Chairman Hensarling, Subcommittee Chairman Pearce, Subcommittee Chairman Barr, Subcommittee Chairman Huizenga, Subcommittee Chairman Luetkemeyer, Subcommittee Chairman Duffy, and Subcommittee Chairman Wager, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the Committee on… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, delivered the following opening statement at today’s full committee hearing to receive the Monetary Policy and State of the Economy report from Federal Reserve Chair Janet Yellen: As Prepared for Delivery Thank you Mr. Chairman, and thank you Chair Yellen for testifying today. Each… Read more »

Today at the House Committee on Financial Services markup of its Oversight Plan, Ranking Member Maxine Waters (D-CA) underscored Democratic priorities for the 115th session of Congress: As Prepared For Delivery Thank you, Mr. Chairman. To begin, let me say that I appreciate that there was an attempt to present this oversight plan in a straightforward and clear manner. The… Read more »

When the House Financial Services Committee met for the first time in the 115th Congress to consider its rules, Ranking Member Maxine Waters (D-CA) led Democrats in trying to force Committee Republicans to hold the Trump Administration accountable. Throughout the markup, Financial Services Democrats offered an array of amendments aimed to increase transparency and accountability and… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a statement following the announcement of the newly appointed Democratic Members to the Committee, who will serve for the 115th Congress: “Democrats are now the last line of defense to fight the onslaught of Wall Street Reform rollbacks and deregulatory bills the Republicans will try to… Read more »

Today, Congresswoman Maxine Waters (D-CA) was re-elected unanimously by the Democratic Caucus to serve as Ranking Member of the Committee on Financial Services for her third term. She released the following statement: “I am honored to have been re-elected to lead the House Financial Services Committee in the 115th Congress. We face many challenges in the years ahead, with… Read more »

In her opening statement at a full committee hearing on the unauthorized accounts at Wells Fargo, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, urged Chairman and CEO John Stumpf to tell the truth about the fraudulent activity that occurred and take full responsibility. “We still do not have the information we need to understand how this… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, stressed the need for robust regulatory oversight of financial institutions in her opening statement at a hearing today with Federal Reserve Chair Janet Yellen. “The Dodd-Frank Act has required regulators to increase capital and liquidity standards, reduce interconnection in the financial… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, discussed the importance of the Financial Stability Oversight Council (FSOC) in keeping our financial system safe at a hearing today with Treasury Secretary Jacob J. Lew on the FSOC’s annual report to Congress. “With Wall Street reform, we created the FSOC to look across the entire financial… Read more »

Today, the House Financial Services Committee held a hearing on the Republican plan to gut the Dodd-Frank Act. Committee Democrats and the Democratic witness, Georgetown University Law Professor Adam Levitin, explained how this plan would benefit special interests and expose us to another financial crisis. “The Choice Act is a bad choice, is a recipe for financial disaster. It… Read more »

In opening remarks during today’s semi-annual Humphrey-Hawkins hearing with Federal Reserve Chair Janet Yellen, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, lauded the Federal Reserve Chair’s cautious approach to raising rates and her work to increase economic inclusion. Waters touted the actions taken by the Fed, the Administration and… Read more »

In opening remarks during a Financial Services Committee markup today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, pushed back against Republican efforts to dismantle Wall Street reforms, including much-needed investor and consumer protections. Waters noted that while she supports some of the measures under consideration, she is dismayed by broader Republican… Read more »

Today, Democrats on the Financial Services Committee voted against Republican attempts to weaken consumer protection and Wall Street reform in effort to produce illusory budget savings as part of the Majority’s failed budget process. The party-line votes were as follows: H.R. 1486, the Taking Account of Bureaucrats’ Spending Act (33-20): The bill would repeal the current… Read more »

At a Financial Services Committee markup of two bills designed to undercut the Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, denounced the measures as efforts to disarm our financial regulators and weaken reforms established after the 2008 crisis. Waters criticized both… Read more »

In opening remarks during today’s full Committee hearing with Consumer Financial Protection Bureau Director Richard Cordray, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised the agency’s work to diligently protect consumers and ensure fairness in the financial system, even in the face of Republican efforts to undermine, eliminate and render… Read more »

In opening remarks during today’s semi-annual Humphrey-Hawkins hearing with Federal Reserve Chair Janet Yellen, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended the progress made under the leadership of the Federal Reserve, Democrats in Congress, and the Obama administration, but noted that “significant work remains” to elevate the… Read more »