In advance of final votes today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led efforts to oppose the so-called “Mortgage Choice Act,” (H.R. 685) a measure that would weaken vital consumer protections for low-income Americans looking to purchase a home, exponentially increase mortgage costs, and undo the critical work of the Consumer… Read more »
Leading opposition to final passage of the “Preserving Access to Manufactured Housing Act” on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, criticized the measure for rolling back critical borrower protections put in place by the Consumer Financial Protection Bureau, undercutting the Dodd-Frank Wall Street Reform Act and… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today delivered testimony in front of the House Rules Committee, stating her strong opposition to two measures, the “Preserving Access to Manufactured Housing Act,” (H.R. 650) and the “Mortgage Choice Act,” (H.R. 685) . In her testimony, the top Democrat described the consequences of enacting these… Read more »
During opening remarks at a Financial Services Committee markup of nearly a dozen legislative proposals today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, outlined a number of areas where Democrats are willing to with Republicans to find bipartisan compromise.
However, the Ranking Member also stressed that while Democrats are willing to work with their… Read more »
Today, Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl Grijalva (D-AZ) and Keith Ellison (D-MN) joined Financial Services Committee Ranking Member Maxine Waters (D-CA) in calling on the Securities and Exchange Commission (SEC) to finalize its rule requiring publicly-traded corporations to publicly disclose the ratio of the compensation for their CEO to the compensation of… Read more »
Following the release of a report she requested, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, reacted to findings related to diversity and inclusion at the Consumer Financial Protection Bureau (CFPB). Last year, Waters led eight other Democratic members of the Subcommittee on Oversight and Investigations in requesting reports by Inspectors… Read more »
As the House of Representatives considered legislation weakening Wall Street’s cash-strapped regulators, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, delivered sharp remarks rebuking H.R. 50, the Unfunded Mandates Information and Transparency Act of 2015.
Dubbing it as ‘anti-consumer,’ Waters criticized the burdensome, time-consuming rulemaking… 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 »
Following President Obama’s State of the Union address, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, praised the President for underscoring the importance of the Wall Street Reform Act and making clear he will veto any legislative effort to undermine it.
Waters, a tireless advocate for protection the law, also praised the President for… Read more »
Democrats, led by Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee garnered 154 “no” votes against H.R. 37, a controversial Republican package of 11 bills that will roll back certain portions of the Wall Street Reform Act. Last week, House Democrats defeated Republican efforts to fast track the same measure through a process known as suspension of the… Read more »
“If it were done,” says Macbeth as he contemplates killing Duncan — his kinsman, his houseguest, his king — “ . . . ’twere well it were done quickly.” A similar judgment seems to inform the newly empowered congressional Republicans’ rush to roll back the modest regulations that the Dodd-Frank Act imposed on Wall Street banks. Deregulating Wall Street is distasteful stuff that can claim… Read more »
During a debate that did not begin until well into the evening, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, led House Democratic members in strong opposition to H.R. 37, a harmful package of 11 bills that will roll back certain portions of the Wall Street Reform Act.
The legislation contains harmful provisions that undermine Dodd-Frank,… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, gave the following testimony before the House Rules Committee on H.R. 37, a package of 11 bills designed to undermine the Dodd-Frank Wall Street Reform Act. She also spoke out against H.R. 185 which, among other provisions, places onerous cost-benefit analysis requirements on federal… Read more »
Today, after leading the effort to oppose House Republicans’ renewed attack on the Dodd-Frank Wall Street Reform Act, Ranking Member Maxine Waters (D-CA), praised Democrats for standing strong to oppose, and ultimately defeat, the measure.
Republicans attempted to move a package of 11 bills that contained controversial changes to provisions relating to derivatives and Volcker rule.… Read more »
The top Democrat on the House Financial Services Committee, Congresswoman Maxine Waters (D-CA), today took her opposition to a provision that could bring back an era of Wall Street bailouts to the House floor. In a fiery speech, Waters expressed her concerns with a Wall Street-authored provision that repeals important taxpayer protections against reckless bank activity enacted as part of… Read more »
Following reports of the possible inclusion of a provision to roll back key taxpayer protections against derivatives trading in the soon to be released government funding package, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Service Committee, expressed her extreme disappointment with efforts to undermine the Dodd-Frank Act.
She released the following… Read more »
Today on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, criticized House Republican leadership and committee Chairman Jeb Hensarling (R-TX) for a bad faith negotiation on the renewal of the Terrorism Risk Insurance Act (TRIA).
Waters, a strong supporter of TRIA, objected to the troubling process by which unrelated… Read more »
Following the passage of H.R. 5421, the Financial Institution Bankruptcy Act of 2014, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, made clear her position that this technical change to the federal bankruptcy code does not mean we should revisit or fundamentally change the important protections enacted under the Dodd-Frank Wall Street Reform Act.… Read more »
Today, eight Democratic members of House Committees on Financial Services and Oversight and Government Reform (OGR) called on the Securities and Exchange Commission (SEC) to send a strong message that corporate practices to deter whistleblowers from reporting violations of securities laws will not be tolerated.
In a letter to SEC Chair Mary Jo White, Financial Services Ranking Member… Read more »
In 2008 we saw the consequences of the risky, irresponsible lending and financial practices resulting from the false ideology that financial markets can somehow properly police themselves. Lax mortgage standards and an unhealthy amount of risk taken by financial institutions and other market participants led to an economy that was not rooted in reality.
The result was a series of… Read more »
Following the news that the U.S. District Court for the District of Columbia largely rejected a challenge to the way the Commodity Futures Trading Commission applies its derivatives rules overseas, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, released the following statement:
“Today, proponents of… Read more »
Key Development: The House bill would clarify language in section 171 of the Dodd-Frank Act, delineating the Federal Reserve Board's authority over large insurance companies, but also additional measures that could harm its chances in the Senate.
Next Step: Insurance companies favor the bill but the broader measures are not universally supported and aren't expected to advance in the… Read more »
WASHINGTON, DC – Citing abuse of the legislative process by House Republicans, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, voiced her strong opposition to two measures that came before the House tonight.
Waters expressed her frustration with the circumventing of the legislative process to bring large and controversial measures to the floor… Read more »
As the House was preparing to consider a measure on Monday that would give the Federal Reserve flexibility in regulating the capital standards for insurance firms, the financial services industry campaigned for passage.
But because the bill ( S 2270 ), which passed in the Senate was packaged with three others with broader changes in financial regulation, House Financial Services… Read more »
The House on Tuesday is expected to pass a bipartisan regulatory change that’s a top priority for the insurance industry, but the Senate is not expected to accept the legislative package in its current form and the issue will likely have to be settled during a post-election “lame duck” session.
While the insurance provision is supported by Republicans and Democrats in both chambers,… Read more »
