Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 5143 as the next bill in the Trump agenda that would benefit Wall Street at the expense of financial stability.
“This week’s gift is less oversight of the largest insurers in the U.S., which will put us at risk for another AIG,” Waters said, noting the… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 6392, a bill that would let President-elect Trump’s Wall Street-friendly administration deregulate 27 of the largest banks in the country.
“H.R. 6392 would repeal Dodd-Frank’s $50 billion threshold, above which banks are subject to closer regulatory… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on reports that President-elect Trump will nominate Steven Mnuchin to serve as the next Treasury Secretary:
“Donald Trump ran a campaign on anti-Wall Street rhetoric, but appointing a former hedge fund manager, Goldman Sachs executive, and bank CEO as Treasury… Read more »
The leading Democrats on the Senate Banking and House Financial Services Committees today urged Congressional leaders to reject any attempts to use must-pass government funding legislation to repeal, weaken, or delay financial reforms and consumer protections.
In a letter to Senate and House leaders, Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) said they will oppose… Read more »
Last week, a panel of conservative judges from the D.C. Circuit Court challenged the structure of the Consumer Financial Protection Bureau, which is the only federal agency solely dedicated to protecting consumers’ financial interests. Here’s a look at what that decision really means:
Don't disarm consumer protection: Our view, USA Today
“Despite all their complaints about the new… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today in response to an announcement by Wells Fargo & Company saying that Chairman and Chief Executive Officer John G. Stumpf would retire from the company, effective immediately:
“Given Mr. Stumpf’s failure of oversight at Wells Fargo, I believe it is more… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the DC Circuit Court of Appeals’ decision today regarding the structure of the Consumer Financial Protection Bureau (CFPB):
“The CFPB is a critical part of the Dodd-Frank Act and has returned nearly $12 billion to more than 27 million consumers by going after fraud… 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 »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, derided Republicans’ reckless plan to repeal Wall Street Reform during Committee consideration of H.R. 5983.
In her opening statement, Waters noted that “nearly all the rules we enacted to make banks safer and stronger would be repealed, and replaced by a phony choose-your-own regulatory regime… Read more »
Opposition to Chairman Hensarling’s “Wrong Choice Act” continues to mount:
From Advocacy Groups:
Hensarling Plan Would Dramatically Weaken Financial Regulation, Americans for Financial Reform
Most Americans approve of the reforms in Dodd-Frank and want to see financial regulation made tougher, not weaker … In addition to repealing many of the reform measures adopted in response… 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 a Financial Services Committee hearing today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, denounced Republicans’ deregulatory agenda that puts the needs of special interests above working Americans.
Waters noted that Chairman Hensarling’s legislation, the “Wrong Choice Act,” to gut Dodd-Frank would make “radical changes to our… Read more »
Tomorrow, the House Financial Services Committee will hold a hearing on Chairman Hensarling’s plan to gut Wall Street Reform. Here’s why repealing Dodd-Frank is the Wrong Choice for consumers, investors, and the entire financial system:
… Read more »
It’s been eight years since the financial crisis devastated our economy and six years since Democrats passed the Dodd-Frank Wall Street Reform Act to get us back on the road to recovery. As Ranking Member of the House Financial Services Committee, I’m proud that our efforts have led to financial system that is safer, fairer, and stronger.
Under the Obama Administration, we’ve had 76… Read more »
Last night, the House of Representatives passed a harmful Republican spending bill, H.R. 5485, which would underfund the nation’s financial services regulators for fiscal year 2017 and put consumer protection and financial stability at risk. Despite Democratic efforts to improve the bill through the amendment process, Republicans pushed through this legislation, which would make it harder… Read more »
Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) – the leading Democrats on the Senate Banking and House Financial Services Committees – issued the following statement after the U.S government removed GE Capital’s designation as “systemically important” to the financial system. The Financial Stability Oversight Council (FSOC), which includes the Treasury Department and Federal… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement on legislation Chairman Hensarling unveiled yesterday to repeal critical parts of the Dodd-Frank Act, which would make financial markets less safe and put consumers at risk:
“Chairman Hensarling’s plan to kill Wall Street Reform puts special interests ahead of… 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 »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, denounced Chairman Jeb Hensarling’s proposal to weaken our country’s financial and consumer protections:
“Today, just steps from Wall Street, Chairman Hensarling unveiled a special interest wish list that would deregulate the financial sector to the detriment of consumers and investors. In the… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, issued the following statement on the Consumer Financial Protection Bureau’s efforts to protect consumers from abusive lending practices:
“The CFPB has taken an important step today to rein in payday lenders that prey on financially vulnerable Americans. These loans often come with… Read more »
During floor consideration of H.R. 3340, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, urged rejection of the bill, which would undermine the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) by subjecting their funding to Congressional appropriations and interfering with their research.
The OFR and the… 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 »
