Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement on yet another attempt by prudential regulators to weaken the Volcker Rule. “Just weeks after the passing of Paul Volcker, prudential regulators are once again working overtime to weaken a regulation that he fought tirelessly for by allowing banks to gamble… 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, 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 House Financial Services Committee, released the following statement in response to the Committee Chairman’s dangerous plan to roll back the Wall Street Reform and Consumer Protection Act: “This is just another attempt by the majority to gut administration policies that have helped millions of Americans. The Dodd-Frank law was… Read more »

Democrats, led by Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee garnered 154 “no” votes against H.R. 37, a controversial Republican package of 11 bills that will roll back certain portions of the Wall Street Reform Act. Last week, House Democrats defeated Republican efforts to fast track the same measure through a process known as suspension of the… Read more »

During a debate that did not begin until well into the evening, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, led House Democratic members in strong opposition to H.R. 37, a harmful package of 11 bills that will roll back certain portions of the Wall Street Reform Act. The legislation contains harmful provisions that undermine Dodd-Frank,… Read more »

Today, after leading the effort to oppose House Republicans’ renewed attack on the Dodd-Frank Wall Street Reform Act, Ranking Member Maxine Waters (D-CA), praised Democrats for standing strong to oppose, and ultimately defeat, the measure. Republicans attempted to move a package of 11 bills that contained controversial changes to provisions relating to derivatives and Volcker rule.… Read more »

As the House was preparing to consider a measure on Monday that would give the Federal Reserve flexibility in regulating the capital standards for insurance firms, the financial services industry campaigned for passage. But because the bill ( S 2270 ), which passed in the Senate was packaged with three others with broader changes in financial regulation, House Financial Services… Read more »

At today’s Financial Services Committee Hearing entitled, “Assessing the Impact of the Dodd-Frank Act Four Years Later” Ranking Member Maxine Waters (D-CA) issued a strong rebuke to Republican attacks on the landmark law, recounting the devastation of the crisis, the success of the law thus far, and documenting Republicans’ efforts to return to the practices that brought the economy to… Read more »

  At today’s Financial Services Committee hearing featuring the five agencies charged with promulgating the Volcker Rule, Congresswoman Maxine Waters (D-CA), top Democrat on the Committee, commended regulators for working to put forth a strong rule that will ensure a more stable financial system. Passed as part of the Wall Street Reform Act, the Volcker Rule ensures taxpayer dollars… Read more »

  Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, touted the importance of the recently-released Volcker Rule for ensuring taxpayer dollars are no longer used to protect banks from risky trading losses. In a statement delivered in a hearing of the full Financial Services Committee on the measure, Waters underscored that a strongly… Read more »

  Following the release of an interim rule by regulators making changes to a provision of the “Volcker Rule” related to the treatment of investments in Collateralized Debt Obligations (CDOs) backed by Trust Preferred Securities (TruPS), Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement supporting the decision to provide… Read more »

As regulators contemplate changes to a provision of the “Volcker Rule” related to the treatment of investments in Collateralized Debt Obligations (CDOs) backed by Trust Preferred Securities (TruPS), 22 Democratic members of the Financial Services Committee have expressed their support for providing important regulatory relief to the community banking sector while preserving strong… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement following the approval of the “Volcker Rule,” which bans proprietary trading by banks. “A seminal component of the 2010 Wall Street Reform Act was the inclusion of the ‘Volcker Rule,’ designed to stop banks from using taxpayer-backed customer deposits for trades… Read more »

Congresswoman Maxine Waters (D-CA) and Former Representatives Barney Frank today released the statements in opposition to H.R. 992, the Swaps Regulatory Improvement Act. Waters led opposition on the House Floor and expressed her concerns about weakening of Dodd-Frank reforms before regulators have completed them. Waters stated: “The financial crisis of 2008 wreaked untold havoc on the… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered  the following statement at today's full Committee hearing with Treasury Secretary Lew:   Thank you very much Mr. Chairman.  I am very pleased to welcome Secretary Lew to his first appearance before the Financial Services Committee to deliver the annual… Read more »