Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hearing entitled, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.”  Good morning. Today, we welcome Mr. Rohit Chopra, Director of the Consumer Financial Protection Bureau, before our… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement in response to the multistate settlement reached with Navient, one of the largest student loan servicers in the country, related to allegations of predatory lending and unfair student loan servicing practices that harmed borrowers nationwide: “Last week,… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Jelena McWilliams, Chairman of the FDIC, urging the FDIC Chairman to cite the legal authority she’s relying on in her attempt to block the FDIC Board Majority from seeking the public’s input on strengthening the bank merger review process. The letter also urges the FDIC… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee and Congressman Bill Foster (D-IL), Chair of the Task Force on Artificial Intelligence, sent a letter to Jerome Powell, Chairman of the Federal Reserve System; Todd Harper, Chairman of the National Credit Union Administration; Rohit Chopra, Director of the Consumer Financial Protection Bureau;… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hearing entitled, “Bringing Consumer Protection Back: A Semi-Annual Review of the Consumer Financial Protection Bureau.” Good Morning. Today, we welcome Mr. Rohit Chopra the newly confirmed Director of the Consumer Financial Protection… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB).  “There is no better person to lead the Consumer Financial Protection Bureau at this time than Rohit Chopra, who helped establish the foundation for… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent two letters to federal agencies and banking regulators urging them to strengthen foreclosure and mortgage servicing protections for borrowers and provide greater oversight to prevent unnecessary foreclosures during the pandemic. In a letter to the U.S. Department of Housing and Urban… Read more »

The House Financial Services Committee passed eleven bills to protect investors and reduce conflicts of interest born out of payment for order flow, support manufactured housing communities, fight for everyone’s right to vote, promote de novo depository institutions, and strengthen protections for the LIBOR transition.  The following bills passed the Committee en bloc #1 by a vote… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee sent a letter to Marcia Fudge, Secretary of the U.S. Department of Housing and Urban Development (HUD); Thomas Vilsack, Secretary of the U.S. Department of Agriculture (USDA); Denis McDonough, Secretary of the U.S. Department of Veterans Affairs (VA); Dave Uejio, Acting Director of the Consumer… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Consumer Financial Protection Bureau’s (CFPB) announcement that it will interpret the Equal Credit Opportunity Act (ECOA) to prohibit lending discrimination on the basis of sexual orientation or gender identity. “Over the past several years, the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to President-Elect Joseph R. Biden, providing recommendations on areas where the Biden Administration should immediately reverse the actions of the Trump Administration, and several actions that the Biden Administration can immediately take to coordinate the federal response… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, sent a letter to agencies within the Committee’s jurisdiction calling on them to cease and desist from finalizing any “midnight rulemakings” or other administrative actions until President-Elect Joseph R. Biden is sworn into office on January 20, 2021.  “On November 3, 2020, the American… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other House Committee Chairs sent a letter to 61 federal agencies requesting information on conversions of political appointees to civil service positions during the Trump Administration. “Protecting the nonpartisan expertise of the career civil service is essential to the safety and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other Committee Chairs across the House of Representatives sent letters directing the White House and more than 50 federal agencies within their jurisdictions to comply with federal record-keeping laws and preserve information responsive to congressional subpoenas and investigations.… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening statement at a full Committee hearing entitled, “Protecting Consumers During the Pandemic? An Examination of the Consumer Financial Protection Bureau.” As Prepared for Delivery I would like to welcome Director Kraninger to what I hope will be her last… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following additional hearings in the month of July: July 23 at 10:30 AM – The full Committee will convene for a hearing entitled, “The Heroes Act: Providing for a Strong Economic Recovery from COVID-19." This hearing will convene in a “hybrid” format, which provides… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement regarding the Supreme Court decision in Seila Law LLC v. Consumer Financial Protection Bureau. “This decision from the Supreme Court diminishes the independence of the Consumer Financial Protection Bureau (Consumer Bureau) by allowing the President to fire… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led six letters to Administration officials, prudential regulators, financial services organizations and credit reporting agencies expressing concerns about risks related to coronavirus disease 2019 (COVID-19) and the steps they are taking to prevent Americans and the financial system from… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, delivered the following opening statement at a full Committee hearing entitled, “Holding Wells Fargo Accountable: Examining the Role of the Board of Directors in the Bank’s Egregious Pattern of Consumer Abuses.” As Prepared for Delivery Today, we receive testimony from Elizabeth Duke and… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following opening statement during a full Committee hearing entitled, “Protecting Consumers or Allowing Consumer Abuse? A Semi-Annual Review of the Consumer Financial Protection Bureau.” As Prepared for Delivery Today, we welcome back Consumer Financial Protection Bureau… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several hearings for the month of February: February 5 at 10:00 AM – The full Committee will convene for a hearing entitled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.” February 5… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement regarding the Consumer Financial Protection Bureau’s policy statement on the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition of unfair, deceptive, or abusive acts or practices (UDAAP) in the consumer financial marketplace. “The Consumer… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement on the amicus brief filed this week by the U.S. House of Representatives in support of the constitutionality of the Consumer Financial Protection Bureau’s independent single-director structure. “The Consumer Financial Protection Bureau was created by the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Kathleen Kraninger, Director of the Consumer Financial Protection Bureau, expressing concerns regarding reports that a Trump Administration political appointee, Thomas G. Ward, is the lead candidate for the Enforcement Director position at the Consumer Bureau. “The… Read more »

Today, the House Financial Services Committee passed eight bills to help veterans experiencing homelessness, protect servicemembers from harassment by debt collectors, and prevent predatory debt collection practices to help consumers and small businesses. See the Chairwoman’s opening statement here and the legislation below. The Ending Debt Collection Harassment Act of 2019… Read more »