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Waters, McHenry Send Bipartisan, Bicameral Letter to Regulators Urging Timely Implementation of the Financial Data Transparency Act

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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…

Maxine Waters, Ranking Member, Delivers Opening Statement During Hearing with Banking Regulators: “All Employees Deserve a Work Environment Where They Feel Safe, and it is Chair Gruenberg’s Responsibility to Make Sweeping Changes…”

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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, “Oversight of Prudential Regulators.” Thank you very much Mr. Chairman. Good morning. I’d like to thank our witnesses from the Federal Reserve, the FDIC and the OCC for coming before the Committee…

Maxine Waters, Ranking Member, Delivers Opening Statement During Full Committee Hearing: “Committee Democrats are Fighting Back…to Strengthen the Safety and Soundness of the Banking System, Protect Depositors, and Prevent Future Financial Crises.”

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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, “Importing Global Governance: Examining the Dangers of Ceding Authority Over American Financial Regulation.” Thank you very much Mr. Chairman. Good morning. Last week, we marked the one-year…

Ranking Member Waters Leads 15 Committee Democrats in Urging Banking Regulators to Quickly Revamp Bank Merger Review Procedures Following Proposed Capital One Merger with Discover

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Following Capital One’s recent announcement that they plan to purchase Discover, today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, led 15 House Democrats in a letter urging the U.S. Department of Justice and our nation’s banking regulators, including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance…

Ranking Member Waters Leads 41 House Democrats in Urging Banking Regulators to Quickly Finalize Rules to Strengthen Capital Requirements for Big Banks, Prevent Financial Crisis

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, leads 41 House Democrats in sending a letter to our nation’s banking regulators — specifically the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency — urging regulators to move quickly to finalize…

Maxine Waters, Ranking Member, Announces Receipt of Anti-Harassment Policy Plans from FDIC, Fed, OCC and NCUA

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, announced that the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (Fed), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA) have each responded to her request for information…

Ranking Member Waters Urges OCC to Drop Citibank’s Performance Rating for Intentionally Discriminating Against Armenian Americans

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Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Acting Comptroller of the Office of the Comptroller of the Currency (OCC) urging the OCC to consider taking additional actions to hold the bank accountable, including downgrading Citi’s Community Reinvestment Act (CRA) rating. The CRA is a crucial tool used by the…

Ranking Member Waters Delivers Opening Statement During Full Committee Hearing with Prudential Regulators: “After the Failures of Silicon Valley Bank, Signature Bank, and First Republic…It Was Our Nation’s Regulators and President Biden’s Treasury Department That Protected Our Nation’s Economy.”

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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, “Oversight of Prudential Regulators.” Good morning and thank you Mr. Chairman for holding this hearing, continuing the tradition that Democrats started in holding semi-annual hearings to provide…

Ranking Member Maxine Waters Applauds Final Rule to Strengthen Community Reinvestment Act

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Tags: OCC, FDIC

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Board of Governors of the Federal Reserve System (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency’s (OCC) final rule to strengthen the Community Reinvestment Act, which requires banks to lend…

Ranking Member Waters Delivers Opening Statement at Subcommittee Hearing: “…Republicans Are Focusing Exclusively On How Proposed Changes From Regulators Will Impact Wall Street, NOT Consumers…”

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences.” Here we go again. Instead of marking up sensible bills that have bipartisan…

Ranking Member Waters Delivers Opening Statement at Subcommittee Hearing on Increased Capital Requirements

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement at a Subcommittee hearing on Financial Institutions entitled, “Implementing Basel III: What’s the Fed’s Endgame?" We certainly did receive  a wake-up call this Spring with the failures of Silicon Valley Bank, Signature Bank, and First…

Ranking Member Waters Asks U.S. Financial Agencies to Examine Customer Identification Program to Modernize Rules, Ensure Consumer Protection and Combat Bad Actors

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the United States Department of the…

Ranking Member Waters’ Statement on Wells Fargo Announcement Confirming They Are Too Big to Manage

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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…

Waters Releases Report Celebrating Four Years of Historic Committee Achievements

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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…

Chairwoman Waters Calls on the FTC to Conduct Robust Review of the Proposed ICE Acquisition of Black Knight

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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…

ICYMI: Chairwoman Waters Presses Nation’s Regulators on FTX Collapse, Efforts to Protect Communities

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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…

Waters Delivers Opening Statement at Full Committee Hearing on Oversight of Prudential Regulators

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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…

Waters Announces November Committee Schedule

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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…

Chairwoman Waters and 76 House Democrats Urge Regulators to Strengthen Community Reinvestment Act Rules, End Redlining

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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…

Chairwoman Waters Calls on Regulators to Hold Wells Fargo Accountable for Continued Troubling Patterns and Practices of Anti-Consumer Behavior

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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…

Waters and Foster Urge Regulators to Ensure Algorithmic Bias Does Not Occur in Emerging Technology

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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;…

Waters Urges Federal Agencies and Bank Regulators to Strengthen and Enforce Foreclosure Protections for Homeowners

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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…

Waters Applauds OCC, FDIC, and Federal Reserve Efforts to Undo Damage from Trump-Era Community Reinvestment Act Rule

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Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Office of the Comptroller of the Currency’s decision to rescind the 2020 Community Reinvestment Act rule and work with the Federal Deposit Insurance Corporation and the Federal Reserve to draft a new rule. “Civil rights laws like the Community…

Waters Opening Statement at Hearing on Oversight of Prudential Regulators

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee virtual hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.”  Welcome, Chairman Harper and Acting Comptroller Hsu, and welcome back Chairman…

Waters Applauds Senate Action to Protect Consumers from Trump-Era Predatory Lending Practices

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Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Senate’s passage of S.J. Res 15, sponsored by Senator Chris Van Hollen (D-MD) and U.S. Senate Committee on Banking, Housing, and Urban Affairs Chairman Senator Sherrod Brown (D-OH), which would overturn the Office of the Comptroller of the Currency’s…

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