Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following reports that Elon Musk has taken over the Consumer Financial Protection Bureau (CFPB) and is rapidly advancing plans to eliminate the agency. These plans were further confirmed when Musk tweeted yesterday, “CFPB RIP.” “Make no mistake, unelected… Read more »

With the Trump Administration and co-President Musk now targeting the CFPB, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, issued this fact sheet to educate co-President Musk, Members of Congress, and the American public on the critical importance of the Consumer Financial Protection Bureau (CFPB). What Is DOGE Doing at the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, Congressman Bill Foster (D-IL), Ranking Member of the Subcommittee on Financial Institutions and Monetary Policy, Speaker Emerita Nancy Pelosi (D-CA), and 78 House Democrats, sent a letter to Acting Consumer Financial Protection Bureau (CFPB) Director, Scott Bessent. In the letter, the… Read more »

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, “Making Community Banking Great Again.” As Prepared for Delivery Good morning. Today, we are here to discuss how to strengthen community banks and credit unions, vital institutions that are… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Donald Trump’s latest decision to fire the Director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra. Director Chopra’s term is not set to end until 2026. Congresswoman Waters recently released a fact sheet exposing President… Read more »

As President-elect Trump prepares to take office, one of his top priorities is to fund tax breaks for wealthy corporations and billionaires by gutting or eliminating critical government programs and services for Americans. To lead the charge, he’s tapped his co-President and the richest man on the planet, Elon Musk. Musk has relentlessly targeted agencies critical to a functioning… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) rule that will prohibit medical debt from being included in a consumer’s credit report used by a lender and prohibit lenders from using medical information in their lending decisions. “I applaud the… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement in response to the Consumer Financial Protection Bureau’s (CFPB) final rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions. “I applaud the Consumer Financial Protection Bureau, led by Director Rohit Chopra, for this… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) latest proposal to regulate data brokers, which hold massive amounts of personal information on millions of consumers. If finalized, this rule will ensure data brokers follow longstanding privacy rules… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s latest action to supervise widely used payment apps provided by Big Tech and other nonbank companies and ensure they are held accountable for protecting personal data, responding to fraud, and stopping illegal… Read more »

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.” Thank you very much, Mr. Chairman. And first, let me say to Director Rohit Chopra, thank you for your patience this morning. I… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, penned an opinion piece for the American Banker, following the Supreme Court’s ruling in Consumer Financial Protection Bureau v. Community Financial Services Association to uphold the constitutionality of the CFPB’s funding structure. In the op-ed, Congresswoman Waters highlights the… Read more »

The top Democrat on the House Financial Services Committee, Congresswoman Maxine Waters (D-CA); the Chairman of the House Financial Services Committee, Congressman Patrick McHenry (R-NC); U.S. Senator Mike Crapo (R-ID); and, U.S. Senator Mark Warner (D-VA) sent a letter to federal financial regulators urging them to implement their respective obligations under the Financial Data… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Supreme Court’s decision today to uphold the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding structure. The CFPB has long been supported by Congresswoman Waters and is the only federal agency dedicated to protecting… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a Financial Institutions and Monetary Policy Subcommittee hearing entitled, “Agency Audit: Reviewing CFPB Financial Reporting & Transparency.” Thank you. Today, this Subcommittee could have been examining ways to strengthen consumer… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a Digital Assets, Financial Technology and Inclusion Subcommittee hearing entitled, “Bureaucratic Overreach or Consumer Protection? Examining the CFPB's Latest Action to Restrict Competition in Payments.” Thank you very much Mr. Chair.… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) finalized rule to cut excessive credit card late fees, and reduce the typical fee from $32 to $8. The CFPB has long been supported by Congresswoman Waters and is the only federal agency dedicated to… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement in response to the Consumer Financial Protection Bureau’s (CFPB) proposed rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions. The CFPB has long been supported by Congresswoman Waters and is the only federal agency… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement on the House floor in opposition of Senate Joint Resolution 32, a Republican-led resolution that would hurt small businesses by overturning a Consumer Financial Protection Bureau (CFPB) rule to support small businesses by improving transparency and… Read more »

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.” Good morning. I’d like to welcome Director Rohit Chopra back to our Committee and applaud the excellent work the CFPB has done… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following testimony at Rules Committee in response to Senate Joint Resolution 32, which is a Republican-led resolution aimed at overturning a Consumer Financial Protection Bureau rule to support small businesses by improving transparency and fairness in small business… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s proposed rule that would subject digital payments apps to the same supervisory examinations the bureau conducts on banks and credit unions. “I applaud the Consumer Financial Protection Bureau (CFPB) under… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Consumer Financial Protection Bureau’s (CFPB) notice of proposed rulemaking entitled, “Personal Financial Data Rights,” which if finalized would implement Section 1033 of the Dodd-Frank Act regarding consumer data rights and market competition. The… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Senate’s vote to block the Consumer Financial Protection Bureau’s (CFPB) small business lending data collection rule. The CFPB has long been supported by Congresswoman Waters and is the only federal agency dedicated to protecting consumers from a… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Biden Administration’s latest action to crack down on junk fees and bring down costs for American consumers. “I applaud President Biden, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, and Federal Trade Commission (FTC)… Read more »