Today, the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), and the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held on March 29, 2023. This will be the first of multiple hearings… Read more »

Following the Biden Administration’s call to Congress to strengthen authorities for clawbacks, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the United States Federal Reserve System, Federal Deposit Insurance Corporation and the Securities and Exchange Commission announcing that she is crafting legislation to enhance… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve, Treasury Department and the Federal Deposit Insurance Corporation (FDIC), announced new actions regarding Silicon… Read more »

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement at a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Good morning, Chair Powell. Since your last visit, our country, under the leadership of President Biden, has made major progress to improve economic… Read more »

Following news that Wells Fargo will be dramatically shrinking its home lending business and narrowing its focus to mortgage lending for existing customers and borrowers in communities of color, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement: “After a string of abusive practices, years of breaking the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released a report highlighting the historic and transformational work that Committee Democrats achieved under her leadership for both the 116th and 117th Congresses. During a global pandemic, a worsening housing crisis and a widening racial-wealth gap, Committee Democrats have consistently… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Chair of the Federal Trade Commission, Lina Khan, urging robust review of the proposed acquisition of Black Knight, a software, data, and analytics company by the Intercontinental Exchange (ICE), a leading global provider of data, technology, and market infrastructure. In the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” As it stands, America’s workers, small businesses, and communities are feeling the impacts of persistent inflation, an… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement at a full Committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.”  Good morning, everyone. I would like to welcome Vice Chair Barr, Acting Chairman… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of November:  Tuesday, November 15 at 10 a.m. ET: The Subcommittee on Housing, Community Development, and Insurance will convene for a hybrid hearing entitled, “Persistent Poverty in America: Addressing Chronic Disinvestment in… Read more »

Following the Federal Reserve’s recent decision to increase the federal funds rate by 0.75 percent to a target range of 3.75 percent to 4 percent – marking the sixth consecutive rate hike and the fourth consecutive super-sized rate hike in just the past eight months – today Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Federal… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led a letter with 76 Democratic Members of the U.S. House of Representatives to the leaders of the Board of Governors of the Federal Reserve System (Fed), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC). The letter urges the regulators to consider… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to regulators last week, urging them to investigate recent allegations that Wells Fargo denied Black refinancing applicants when interest rates were at their lowest and hosted “mock” interviews with diverse candidates to pad diversity… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at the semiannual full Committee hearing entitled, “Monetary Policy and the State of the Economy.” Welcome back, Chair Powell, and congratulations on your confirmation as Chair of the Fed. Since you last came before the Committee, Americans continue to… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement following the confirmation of four nominees to the Federal Reserve’s Board of Governors: “For years I have said that the leaders of the Federal Reserve must represent the diversity of the public they serve. Considerable progress toward this was made this… Read more »

This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Congresswoman Alma Adams (D-NC), and Congresswoman Joyce Beatty (D-OH), released an op-ed on the need to confirm President Biden’s nominees to the Federal Reserve. See the full piece on The Hill or below. Senate Republicans must end their block of well qualified Federal Reserve… 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, “Monetary Policy and the State of the Economy.” I want to start by reiterating that I join with President Biden and our allies in condemning Russia’s shameful, premeditated, and unprovoked invasion of Ukraine. I stand in… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released a statement applauding the Boston Federal Reserve board for its selection of the first Black woman to serve as the president of a regional Federal Reserve Bank. “I applaud the Boston Federal Reserve board of directors for announcing Dr. Susan Collins as the next president of the… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Mark Warner (D-VA) sent a letter to Federal Reserve Chair Jerome Powell to urge the Federal Reserve to provide guidance as soon as possible to Subchapter S and Mutual bank Emergency Capital Investment Program (ECIP) recipients on concerns they raised. Chairwoman Waters led… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released a statement applauding President Biden’s nomination of Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson to key leadership roles within the Federal Reserve. “I am pleased that President Biden has decided to nominate Sarah Bloom Raskin to be Vice Chair for Supervision of the Board… 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 Financial Services Committee, released the following statement regarding President Biden’s imminent decision to name top leadership positions at the Federal Reserve: “President Biden is expected to announce his nominees soon for Federal Reserve Chair and other key leadership roles on the Board of Governors. Taken… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” Welcome back, Secretary Yellen and Chair Powell. As this pandemic continues, the Biden Administration and Congressional Democrats… Read more »

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a Subcommittee on National Security, International Development and Monetary Policy hybrid hearing, entitled, “Lending in a Crisis: Reviewing the Federal Reserve’s Emergency Lending Powers During the Pandemic and Examining Proposals to Address Future Economic… Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of September: September 10 at 12:00 PM ET: The full Committee will convene for a virtual hearing entitled: “Protecting Renters During the Pandemic: Reviewing Reforms to Expedite Emergency Rental Assistance.” September… Read more »