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Ranking Member Waters Announces First Wave of Legislation from Committee Democrats in Response to Recent Bank Failures

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the introduction of a first wave of Committee Democratic bills to respond to the recent failures of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank, which were the 2nd, 3rd, and 4th largest bank failures in U.S. history. This first wave includes legislation…

Ranking Member Waters Urges Chair McHenry to Immediately Convene Hearing Examining Impact of Artificial Intelligence on Housing, Financial Services and Consumers

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to Congressman Patrick McHenry (R-NC), Chair of the Committee, urging McHenry to immediately convene a hearing to explore the implications of generative Artificial Intelligence (AI) on housing and financial services. In the letter, Ranking Member Waters sounds the alarm on…

Ranking Member Waters Delivers Opening Statement During Full Committee CFPB Hearing: “This Attack on the CFPB is Yet Another Destructive Effort by Republicans to Undermine All Types of Government Programs…”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee hearing entitled, “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” Remarks as prepared for delivery: Good morning, and welcome Director Chopra. I am so pleased that we’re here this…

Ranking Member Waters Delivers Opening Statement During Full Committee Hearing on Digital Assets: “…Our Securities Laws—Which Have Worked For Every Other Industry For 90 years—Can Also Work For Crypto Firms.”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee hearing entitled, “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem.” Good afternoon. Last week, Republicans posted a bill that would rewrite our nation’s securities and commodities laws.…

Ranking Member Waters Delivers Opening Statement During Full Committee Hearing with Treasury Secretary Janet Yellen: “The Biden Administration and Democrats Have Shown What Happens When You Deliver Legislation That Puts Working Families First.”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee hearing entitled, “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.” Good morning. I’d like to welcome Secretary Yellen before our Committee today. I want to…

Ranking Member Waters Delivers Opening Statement at Full Committee FHFA Hearing

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “FHFA Oversight: Protecting Homeowners and Taxpayers.” Good morning, all. I’m pleased to welcome Director Sandra L. Thompson before our Committee this morning.  Earlier this month, the Federal Housing…

Ranking Member Waters Urges First Citizens Bank to Support Housing for Vulnerable California Communities by Honoring Silicon Valley Bank’s Community Benefits Plan

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to First Citizens Bank following its acquisition of Silicon Valley Bank (SVB) on March 26th. In the letter, Waters urges First Citizens to ensure the continued implementation of SVB’s $11.2 billion Community Benefits Plan, which SVB agreed to in 2021 and is aimed at providing…

Ranking Member Waters Delivers Opening Statement During Full Committee Hearing on Oversight of Prudential Regulators: “Committee Democrats Are the Only Ones Working Around the Clock to Get Answers for the American People and Hold the Bank CEOs to Task”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “Oversight of Prudential Regulators.” Good morning, everyone. First, I’d like to welcome our banking and credit union regulators who are here to testify before our Committee today. On the heels of the collapse of…

Ranking Member Waters Urges Chair McHenry to Immediately Schedule Hearing with CEOs of Recently Failed Banks

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to Chairman Patrick McHenry (R-NC) urging the Chair to act quickly to schedule a hearing with the CEOs of Silicon Valley Bank, Signature Bank and First Republic. In the letter, Ranking Member Waters highlights a series of concerns with the role that these CEOs played in the…

Ranking Member Waters Delivers Opening Statement During Full Committee Markup: “If This Committee Really Wanted to Support Small Businesses’ Access to Capital, We Should Be Doing Everything in Our Power to Avoid a Debt Default…”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee Markup. Last month our nation’s economy was rocked by two of the largest bank failures in U.S. history – Silicon Valley Bank and Signature Bank. These failures harmed small businesses everywhere. But we are not here…

Ranking Member Waters Announces Democratic Subcommittee Vice Ranking Members for 118th Congress

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic Committee members selected to be Vice Ranking Members for the 118th Congress: Congresswoman Sylvia Garcia, Texas – Vice Ranking Member of the Full Committee Congressman Sean Casten, Illinois – Vice Ranking Member of the…

Ranking Member Waters Delivers Opening Statement at Full Committee SEC Hearing: “... I Can’t Believe That This Committee is Rushing to Take Off More Guardrails When We Should Be Adding Them.”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “Oversight of the Securities and Exchange Commission.” As prepared for delivery Good morning and welcome, Chair Gensler.  Right now, our financial system is still recovering from the sudden collapse of…

Ranking Member Waters Delivers Opening Statement at First Full Committee Hearing on Recent Bank Failures: “It’s Also Important to Know How We Got Here —Deregulation.”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “The Federal Regulators' Response to Recent Bank Failures.” Good morning. I’d like to thank Chairman McHenry for working with me in a bipartisan way on investigating the failures of Silicon Valley Bank and…

WITNESS ADDED: Waters, McHenry Announce First Hearing on Silicon Valley Bank and Signature Bank Failures

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Today, the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), and the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held at 10:00 AM ET on March 29, 2023. This will be the first of…

Waters, Brown Commend Federal Regulators for Protecting Banking System

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve, Treasury Department and the Federal Deposit Insurance Corporation (FDIC), announced new actions regarding Silicon…

Ranking Member Waters Delivers Opening Statement at Full Committee Hearing with Chair Powell: “Republicans Have Completely Ignored the Biggest Economic Threat to Businesses, Consumers and Our Economy – Defaulting on Our Debt.”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Good morning, Chair Powell. Since your last visit, our country, under the leadership of President Biden, has made major progress to improve economic…

Ranking Member Waters Announces Passage of Democratic Legislation During Full Committee Markup, Shares Amendments for Problematic Republican Data Privacy Bill

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced the following Democratic-led bills that passed during the Committee’s first markup, and shared the list of amendments that Committee Democrats offered in response to Republican’s data privacy bill. The following Democratic-led bills passed during this week’s full Committee…

Ranking Member Waters Urges MBDA to Ensure $100 Million Small Business Grant Program Reaches Underserved Businesses, Extend Today’s Deadline

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent the following letter to the Under Secretary of Commerce for the Minority Business Development Agency (MBDA), Donald Cravins, Jr., regarding the agency’s Capital Readiness Program. In the letter, Waters calls on the Under Secretary to take the necessary steps to ensure that…

Ranking Member Waters' Statement on Supreme Court’s Decision to Hear CFPB Constitutionality Case

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Supreme Court’s announcement that it will review the Fifth Circuit’s ruling in the case of Consumer Financial Protection Bureau v. Community Financial Services Association of America. “The Consumer Financial Protection Bureau is a popular and…

Ranking Member Waters Delivers Opening Statement at Full Committee Markup

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a full Committee Markup.  Today, we are marking up bills that both Committee Democrats and Republicans have worked on together to reach agreement. Notably, most of these bills aim to hold the Chinese government accountable. With that…

Waters Delivers Opening Statement at Full Committee Hearing Combating the Economic Threat from China

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, delivered the following statement at a full Committee hearing entitled, “Combating the Economic Threat from China.” Thank you, Mr. Chairman. As we discuss how to bolster our economy and to counter threats from China, I’d like to start by saying that if House Republicans continue…

Ranking Member Waters Calls on Chair McHenry to Immediately Convene Hearing Examining Looming Debt Default, Unprecedented Threat of Financial and Economic Downfall

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee sent a letter to Chairman Patrick McHenry (R-NC) urging the Chair to move promptly to convene a hearing to discuss how Congress will act to protect the creditworthiness of the United States, along with the dire and lasting economic consequences that will follow if Congress fails to do so.…

Waters Delivers Opening Statement at Full Committee Organizational Meeting

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services, delivered the following opening statement at the full Committee organizational meeting where the Committee approved the Subcommittee leadership and membership, the Committee Rules, and the oversight plan for the 118th Congress: Today, we will be formally establishing our subcommittee leadership and…

Ranking Member Waters Testifies in Front of Rules Committee Calling Out Real Threat to U.S. Democracy, Economy: House Republicans

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Committee on Financial Services, delivered the following testimony in front of the Rules Committee on the resolution entitled, “Denouncing the Horrors of Socialism.” Thank you. Chairman Cole, Ranking Member McGovern and Members of the Committee, the American public is going to wonder why Republicans are wasting our time…

Ranking Member Waters Applauds White House’s Blueprint for A Renters Bill of Rights, Calls for Inclusion of Hard-Fought COVID Protections Led by Committee Democrats

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Following the White House’s release of a Renter’s Bill of Rights Blueprint, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “I applaud the Biden Administration’s historic release of its blueprint for a Renters Bill of Rights. As housing prices have skyrocketed by nearly 20% during the pandemic, many U.S.…

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