Today, in response to a report revealing that Wells Fargo opened an additional 1.4 million fraudulent bank accounts and 528,000 unauthorized online bill pay enrollments without their customers’ knowledge or permission, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“Wells Fargo’s misdeeds are egregious, and they… Read more »
Following the announcement that Elizabeth Duke will replace Stephen Sanger as Chairman of the Board of Directors of Wells Fargo, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“This superficial change in leadership at Wells Fargo isn't enough to restore the trust and confidence of the American public. While… Read more »
Today, in response to reports that Wells Fargo forced more than 800,000 car loan borrowers to purchase unnecessary car insurance, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:
“The constant drip drop of fraudulent activities coming out of Wells Fargo is absolutely outrageous. Wells Fargo has repeatedly preyed… Read more »
At today’s Financial Services Committee hearing with Treasury Secretary Steven Mnuchin, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, called for Secretary Mnuchin to address several matters of concern, including a May 23 letter from Committee Democrats requesting information regarding the financial dealings of President Trump, his family… Read more »
Yesterday, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined House Minority Leader Nancy Pelosi and Senator Elizabeth Warren to discuss the negative impact on consumers if Republicans overturn the Consumer Financial Protection Bureau’s rule to prohibit forced arbitration. Her remarks are below:
Thank you so very much, Leader Pelosi. I… Read more »
Today, in response to the House passage of H.J. Res 111, a harmful Republican resolution that repeals the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:
“Forced arbitration benefits large corporations and… Read more »
Today, during floor debate on H.J.Res 111, a Republican Joint Resolution to repeal the Consumer Financial Protection Bureau’s rule to protect consumers by restricting forced arbitration clauses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement:
As Prepared for Delivery
H.J.Res 111 is an affront to… Read more »
Today, House Democrats, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, alongside Congressman Tim Walz (D-MN), Ranking Member of the Committee on Veterans' Affairs, and Congressman Denny Heck (D-WA), Financial Services Committee Member, introduced legislation that would protect the financial wellbeing of servicemembers and their families… Read more »
Today, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released a Democratic staff report documenting the successes of the Consumer Financial Protection Bureau (Consumer Bureau). In the report, Democratic Committee staff discuss the devastating effects of the 2008 financial crisis that led to the creation of the Consumer Bureau, the types of consumer… Read more »
Today, in response to a Republican resolution to use the Congressional Review Act to block the Consumer Financial Protection Bureau’s recently issued mandatory arbitration rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“The Consumer Bureau’s forced arbitration rule ensures that consumers are not required to… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, applauded the Consumer Financial Protection Bureau’s (Consumer Bureau) issuance of a final rule to prohibit mandatory arbitration clauses in contracts for consumer financial products. Ranking Member Waters made the following statement:
“I applaud the Consumer Financial Protection… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, blasted the FY 2018 Financial Services and General Government (FSGG) Appropriations bill, which includes many elements of the Wrong Choice Act, the Republican deregulatory measure to roll back Wall Street reform.
“The Financial Services and General Government Appropriations bill has been… Read more »
In another attempt to undermine the important work of the Consumer Financial Protection Bureau (Consumer Bureau or CFPB), Republicans on the House Committee on Financial Services issued a 13-page staff report that attempted to redirect blame away from Wells Fargo for their massive fraudulent account scandal and onto the Consumer Bureau. The report falsely accuses the Consumer Bureau of… Read more »
In an op-ed published today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, discussed the numerous ways in which the Consumer Financial Protection Bureau (Consumer Bureau) continues to fight for hardworking Americans who have been harmed by illegal, predatory financial schemes, and the ways in which President Trump and Congressional… Read more »
Today, in response to the Trump Administration’s release of its full budget request to Congress for Fiscal Year 2018, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:
“Donald Trump has once again revealed who he really is, with a cruel and senseless budget that abandons Main Street and the vulnerable.
“The… Read more »
On the first day of the House Financial Services Committee markup of H.R. 10, also known as the Wrong Choice Act, Committee Democrats fought throughout the day and into the night to protect hardworking Americans from the catastrophic damage the bill would cause. The Wrong Choice Act undermines and outright repeals critical safeguards in the Dodd-Frank Wall Street Reform and Consumer… Read more »
Today, at a full Committee markup of the Wrong Choice Act, a bill that repeals the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement:
As Prepared for Delivery
Thank you, Mr. Chairman.
Mr. Chairman, this is one of the… Read more »
Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act 2.0, a bill that would destroy the most important parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement:
As Prepared for Delivery
Thank you,… Read more »
WASHINGTON – In response to the Consumer Financial Protection Bureau’s (Consumer Bureau) lawsuit against Ocwen Financial Corporation for years of incompetent handling of mortgage accounts, Congresswoman Maxine Waters (D-CA), issued the following statement:
“Enough is enough when it comes to Ocwen’s history of repeated, abusive treatment of homeowners. Their behavior is simply… Read more »
Today, in response to the release of details of the updated version of the “Financial Choice Act,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“The so-called Financial Choice Act is a piece of legislation that will essentially kill the most important aspects of the Dodd-Frank Wall Street Reform and Consumer… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at today's full committee hearing on the Consumer Financial Protection Bureau's (Consumer Bureau) Semi-Annual Reports to Congress with Director Richard Cordray:
As Prepared for Delivery
Thank you, Mr. Chairman. And thank you, Director Cordray, for joining… Read more »
Following the D.C. Circuit granting the Consumer Financial Protection Bureau’s (Consumer Bureau) petition for rehearing en banc in the PHH case, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 40 Democratic Members filed an amicus brief today with the D.C. Circuit Court of Appeals in support of the Consumer Bureau’s independent… Read more »
WASHINGTON -- Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded the Consumer Financial Protection Bureau’s enforcement action against Experian, a prominent credit reporting agency, and called for comprehensive legislative improvements to consumer reporting law.
“I have long advocated for an overhaul of our nation’s credit… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Timothy J. Sloan, Chief Executive Officer of Wells Fargo & Company, expressing serious concern with the repeated refusal of four top Wells Fargo executives, including Sloan, to be interviewed by Democratic Committee staff in furtherance of the Committee’s ongoing… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded the Consumer Financial Protection Bureau for a new report detailing a range of significant issues in credit reporting and its oversight work in the area, and called for comprehensive reforms to improve the nation’s credit reporting system.
“Credit reporting is an area where I have… Read more »
