Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following addition to the June Committee calendar:
June 30 at 12:30 PM: The full Committee will hold a hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” This hearing will convene in a “hybrid” format, which provides for… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following opening statement at today’s hearing, “Monetary Policy and the State of the Economy.”
Chair Powell, the law that required the Federal Reserve Chair to testify before Congress twice each year was established in 1978. However, no Fed Chair has ever testified before this… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, and Steven Mnuchin, Secretary of the U.S. Department of the Treasury, following up on conversations to ensure that the Federal Reserve and Treasury programs and facilities to respond to the… Read more »
Yesterday, the Consumer Protection and Financial Institutions Subcommittee held a virtual roundtable with prudential regulators entitled, “Update from Prudential Regulators.”
The virtual roundtable panelists included:
The Honorable Rodney Hood, Chairman, National Credit Union Administration
The Honorable Jelena McWilliams, Chairman, Federal Deposit Insurance… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced that on Wednesday, May 13, Consumer Protection and Financial Institutions Subcommittee Chairman Gregory Meeks (D-NY) and Ranking Member Blaine Luetkemeyer (R-MO) will host a virtual roundtable discussion entitled, “Update from Prudential Regulators.”
Panelists for the… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, urging him to address concerns regarding the implementation of programs and facilities authorized by the CARES Act.
In the letter, the Chairwoman outlined numerous issues including the Federal… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, sent a letter to Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin urging them to ensure the stability of the housing market in the face of the Coronavirus… Read more »
Following the announcement by the Federal Reserve that it will “temporarily and narrowly modify the growth restriction on Wells Fargo so that it can provide additional support to small businesses,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement:
“The economic crisis resulting from the coronavirus pandemic is a… Read more »
This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led a letter to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, urging them to prioritize a strong response to the COVID-19 pandemic and suspend efforts to revise the Community Reinvestment Act (CRA) and any… Read more »
Following reports that Wells Fargo & Company has requested that the Federal Reserve remove an asset cap imposed in response to widespread consumer abuses and compliance breakdowns, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, wrote a letter to Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, requesting… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement regarding the Federal Reserve’s (Fed) recent actions to increase liquidity to the financial system in response to the pandemic coronavirus (COVID-19) crisis:
“The global spread of the novel coronavirus has adversely impacted the lives of millions of Americans,… 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 »
Following the release of a Majority staff report entitled, “The Real Wells Fargo: Board & Management Failures, Consumer Abuses, and Ineffective Regulatory Oversight,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full Committee hearing with Charles W. Scharf, Chief Executive Officer (CEO) and President of Wells Fargo &… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, released a Majority staff report entitled, “The Real Wells Fargo: Board & Management Failures, Consumer Abuses, and Ineffective Regulatory Oversight.”
This report is a result of a… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, made the following statement in response to the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) announcement that the comment period for the agencies’ proposed Community Reinvestment Act (CRA) rule will be extended by 30 days, giving the public… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell.
As Prepared for Delivery
I'd like to welcome back Chairman Powell
As I discussed at our last hearing with you, I… 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, announced that she plans to lead a delegation of the Committee in attending a public meeting of the Federal Deposit Insurance Corporation’s (FDIC) Board of Directors, which consists of FDIC Chairman Jelena McWilliams, Comptroller of the Currency Joseph Otting, Consumer Financial Protection… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, and Congressman Gregory Meeks (D-NY), Chairman of the House Subcommittee on Consumer Protection and Financial Institutions, led a letter to Jerome H. Powell, Chairman of the Board of… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions?”
As Prepared for Delivery
Good morning. Today we are here to conduct oversight of… Read more »
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to heads of the Federal Reserve, Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), and… Read more »
WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement on the Federal Reserve’s decision to modernize its interbank payments system into a real-time gross settlement (RTGS) service, which will allow our nation’s consumers to have immediate access to funds deposited into their bank… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System; Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC);… Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following opening statement at a full committee markup:
As Prepared for Delivery
Good morning. Today we will mark up a set of bills on a range of issues, including credit reporting, housing, diversity and inclusion, and investor protection.
I have long said that our… Read more »
