At today’s full committee hearing to discuss the Financial Stability Oversight Council (FSOC) with Treasury Secretary Jack Lew, Congresswoman Maxine Waters (D-CA) highlighted the important work of the Council in identifying systemic risk and protecting American homeowners, consumers, and the economy. Specifically, the Ranking Member of the Committee on Financial Services… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended Consumer Financial Protection Bureau (CFPB) Director Richard Cordray for the Bureau’s significant accomplishments in protecting our nation’s consumers and service members who have been victimized by unscrupulous corporations and financial institutions. At today’s full… Read more »

In today’s full Committee markup, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, blasted Republicans for continuing to waste the Committee’s time and resources on measures that weaken important consumer protections, undo transparency and accountability measures for Wall Street’s biggest actors and carve out major exceptions for large public… Read more »

Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, gave the following remarks at today’s Subcommittee on Oversight and Investigations hearing to discuss “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau.” At the hearing, Waters continued to underscore the seriousness of the allegations at the CFPB, and again called… Read more »

Following today’s report by the Consumer Financial Protection Bureau (CFPB) finding that consumers’ credit scores may be overly penalized for medical debt, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, welcomed the Bureau’s findings and called upon Committee Chairman Jeb Hensarling to hold a hearing on the issue, and on legislation Waters has introduced… Read more »

At today’s Financial Services’ Subcommittee on Oversight and Investigations hearing to discuss allegations of discrimination and retaliation at the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA) and Congressman Al Green (D-TX) expressed serious concern over the revelations of the witnesses and underscored the need for senior Bureau officials to come before… Read more »

Lawmakers call for hearing to be cancelled Following the announcement that the Consumer Financial Protection Bureau (CFPB) and the National Treasury Employees Union (NTEU) will not participate in a House Financial Services Subcommittee on Oversight and Investigations hearing to discuss ongoing claims of a single employee, two key Democratic members have raised concerns about the… Read more »

Subcommittee on Oversight asks inspectors general to review workplace discrimination Democratic members of the Financial Services Committee Subcommittee on Oversight and Investigations have called on inspectors general at the Consumer Financial Protection Bureau (CFPB) and all other financial regulators to assess whether any personnel practices and policies have created an unfair or… Read more »

In today’s Financial Services Committee hearing on “Why Debt Matters,” Ranking Member Maxine Waters (D-CA), underscored the importance of promoting growth and reducing income inequality through short-term increases in discretionary fiscal stimulus in order to reduce the nation’s debt and deficit.  In her remarks, Waters criticized austerity measures such as the Sequester for… Read more »

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today gave the following opening statement at today’s full committee markup of five bills intended to promote economic growth and the majority’s Budget Views and Estimates for fiscal year 2015. Her remarks are below.  )  As prepared for delivery: Thank you Mr. Chairman. Promoting… Read more »

As part of a hearing to investigate data security following breaches at large commercial retailers, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, pointed to the emerging epidemic of cyber crimes and called on legislators to ensure the safety and security of critical consumer financial information. Waters raised concerns about the frequency of data… Read more »

Waters leads effort to oppose measure weakening CFPB Today, the Republican-led House of Representatives approved H.R. 3193, legislation that would undermine consumer protection by weakening the Consumer Financial Protection Bureau’s ability to be an effective, independent advocate for consumers. Democratic opposition was led by Congresswoman Maxine Waters (D-CA) Ranking Member of the… Read more »

Following widespread concern over the actions of a number of independent mortgage servicers, Congresswoman Maxine Waters (D-CA), top Democrat on the Financial Services Committee, has called on government regulators to take action that will protect homeowners from abuses that have led to stalled modifications, excess fees and even foreclosure. In a letter to Comptroller of the Currency… Read more »

Representative Maxine Waters of California is urging federal banking regulators to scrutinize the sale of billions of dollars of mortgage-servicing rights to a fleet of specialty firms, a move that comes amid mounting concerns that some of the most vulnerable homeowners are facing fresh abuses in battles to save their homes. For some Americans whose home values plummeted in the depths… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, commended Consumer Financial Protection Bureau (CFPB) Director Richard Cordray for the Bureau’s significant accomplishments in protecting our nation’s consumers and service members who have been victimized by unscrupulous corporations and financial institutions. At today’s full committee hearing… Read more »

At a Financial Services Committee markup of six bills designed to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee, blasted the measures as efforts to weaken CFPB’s ability to be an effective, independent advocate for consumers. Waters highlighted the CFPB’s remarkable record of success in just over two years,… Read more »

As many employees prepare to miss their first paycheck as a result of the Federal Government shutdown, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, lauded the action of five federal financial services agencies that today called on financial institutions to work with customers that have been affected.  In a letter to the heads of the… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement in reaction to a Consumer Financial Protection Bureau (CFPB) report on the early success of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The report finds that protections under the Act benefitted consumers by reducing unfair and excessive… Read more »

House Financial Services Committee Reviews Agency’s Semi-Annual Report Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing to discuss “The Semi-Annual Report of the Consumer Financial Protection Bureau (CFPB).” The hearing featured CFPB Director Richard Corday. Ranking… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement today in response to the Senate’s vote to confirm Richard Cordray as the director of the Consumer Financial Protection Bureau (CFPB): “It is with great pleasure that I congratulate Richard Cordray on his long overdue confirmation as Director of the CFPB. Under his… Read more »

Legislators Laud Consumer Agency’s Progress on Student Loan Debt Two senior Democratic lawmakers from the House- Congresswoman Maxine Waters (D-Calif.), Ranking Member on the Financial Services Committee, and Congressman George Miller (D-Calif.), the senior Democratic Member on the Education and the Workforce Committee, today released a joint letter to Director Richard Cordray commending… Read more »

Today, Ranking Member Maxine Waters (D-Calif.), joined U.S. Senator Richard Blumenthal (D-Conn.) and Lois Capps (D-Calif.), in sending a letter to eight executive agencies urging them to protect surviving spouses from foreclosure. This segment of the homeowner population – often women in their later years – faces unique circumstances that unfairly deprive them of opportunities to avoid… Read more »

Two senior Democratic lawmakers from the House – U.S. Rep. George Miller (D-Calif.), the senior Democrat on the Education and the Workforce Committee, and U.S. Rep. Maxine Waters (D-Calif.), Ranking Member on the Financial Services Committee – released the following joint statement today after the Consumer Financial Protection Bureau (CFPB) published a report highlighting ways in which… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today sent the attached letter to Chairman Jeb Hensarling, responding to his refusal to allow Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), to testify before the Committee.  Mr. Hensarling declared his intention to block Director Cordray in a letter released… Read more »

Ranking Member Waters opening statement at 4-16-2013 Financial Institutions Subcommittee Hearing titled, “Examining Community Bank Regulatory Burdens” I want to thank the witnesses for taking time to come talk to us today. I know it’s still a challenging time for community sized institutions such as yourselves and it can’t be easy to take time away from your businesses. And I want to… Read more »