Several House Committee Ranking Members submitted letters to their respective Chairmen requesting that their committees do not waive their jurisdiction over H.R. 10, also known as the Wrong Choice Act. The Wrong Choice Act, a wide-reaching financial services bill, makes financial markets less safe, puts consumers at risk, and undermines critical safeguards in the Dodd-Frank Wall Street… 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 »

Last week, House Financial Services Committee Democrats led the Committee’s first Minority Day Hearing in 20 years in order to protect the economic security of hardworking Americans from a bill that prioritizes Wall Street over Main Street. The hearing, which featured testimony from Senator Elizabeth Warren and 10 other expert witnesses, reviewed Chairman Hensarling’s Wrong Choice Act, a… Read more »

After just 100 days in office, President Trump has undermined the economic security of the middle class and hardworking Americans by beginning to roll back financial regulations and putting reckless policies in place. The list below recounts Trump’s broken promises, threatening consumers, investors, and the economy at large: On the first day of his administration, Trump suspended a… 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 »

Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act 2.0, a bill that would destroy the most important parts 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,… Read more »

WASHINGTON - Today, in response to a pair of Trump Administration executive actions aimed at deregulating the financial services sector, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement. “Here we go again. When it comes time for Trump to put up or shut up on his promises to hardworking Americans, all he puts up… Read more »

WASHINGTON – In response to the Consumer Financial Protection Bureau’s (Consumer Bureau) lawsuit against Ocwen Financial Corporation for years of incompetent handling of mortgage accounts, Congresswoman Maxine Waters (D-CA), issued the following statement: “Enough is enough when it comes to Ocwen’s history of repeated, abusive treatment of homeowners. Their behavior is simply… Read more »

Today, in response to the release of details of the updated version of the “Financial Choice Act,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The so-called Financial Choice Act is a piece of legislation that will essentially kill the most important aspects of the Dodd-Frank Wall Street Reform and Consumer… Read more »

WASHINGTON --  Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded the Consumer Financial Protection Bureau’s enforcement action against Experian, a prominent credit reporting agency, and called for comprehensive legislative improvements to consumer reporting law. “I have long advocated for an overhaul of our nation’s credit… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, launched a new webpage dedicated to tracking President Trump’s destructive actions against consumers, investors, and the economy. As the Trump Administration continues to threaten the livelihood of millions of Americans with reckless policies and proposals, Waters has pledged her commitment… Read more »

Today, at a full Committee markup of six legislative proposals relating to our nation’s capital markets, Representative 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. Today, we will consider a set of legislative proposals designed to improve our nation’s capital… Read more »

In the House Financial Services Committee markup to consider its Budget Views and Estimates for Fiscal Year 2018, Ranking Member Maxine Waters (D-CA) and Committee Democrats urged Committee Republicans to join them in holding the Trump Administration accountable and supporting amendments that would help middle class families and the most vulnerable populations. Throughout the markup,… 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 »

Today, in response to a series of bills introduced by Senate Republicans to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following statement: “Republicans are wasting no time in their shameful efforts to dismantle the Consumer Financial Protection Bureau. In the time… 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 »

Surrounded by Republican members of the House Committee on Financial Services, today President Trump signed into law H.J. Res 41, which eliminates a bipartisan rule that made it harder for oil, gas, and mining companies to engage in bribery and corruption in developing nations. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following… Read more »

Richard Cordray deserves to stay director of CFPB. While bankers and their congressional allies fume that a consumer protection agency created after the financial crisis has amassed too much power, the agency keeps on doing what it does so well: putting money back in the pockets of people who’ve been mistreated by big banks, credit card issuers or other financial players. In its… 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 »

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today on President Trump’s executive orders to delay the Department of Labor’s conflict of interest rule and roll back financial reforms put it place after the financial crisis of 2008. “These latest actions from the Trump administration should show the American… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, released a statement following Donald Trump’s implementation of yet another Executive Order (EO), this time rolling back important financial safeguards through a 2-for-1 gimmicky ploy: Sadly, every day brings another dangerous edict from President Trump and yesterday was no different.… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, released a statement following the introduction of Rep. Bill Huizenga’s (R-MI) resolution to repeal Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank): Today, the compulsive Republican Party took the first step in repealing the hard work of Democrats… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke strongly against two bills pushed by Republicans to effectively roll back postcrisis financial regulation. Ranking Member Waters acknowledged the bills on the House floor today as another attempt by the majority to gut policies that have helped millions of Americans. H.R. 78, the… 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 »