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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 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 Urges First Citizens Bank to Support Housing for Vulnerable California Communities by Honoring Silicon Valley Bank’s Community Benefits Plan

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Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to First Citizens Bank following its acquisition of Silicon Valley Bank (SVB) on March 26th. In the letter, Waters urges First Citizens to ensure the continued implementation of SVB’s $11.2 billion Community Benefits Plan, which SVB agreed to in 2021 and is aimed at providing…

Ranking Member Waters’ Statement on Failure of First Republic

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Tags: FDIC

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following news that the California Department of Financial Protection and Innovation (DFPI) seized First Republic and was sold by the Federal Deposit Insurance Corporation (FDIC) early Monday morning: “I commend the Federal Deposit Insurance Corporation (FDIC)…

Ranking Member Waters Delivers Opening Statement at First Full Committee Hearing on Recent Bank Failures: “It’s Also Important to Know How We Got Here —Deregulation.”

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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 Regulators' Response to Recent Bank Failures.” Good morning. I’d like to thank Chairman McHenry for working with me in a bipartisan way on investigating the failures of Silicon Valley Bank and…

Ranking Member Waters Urges FDIC to Ensure California Communities Remain Supported Through Silicon Valley Bank’s Housing, Community Reinvestment Plan

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Tags: FDIC

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency take steps to ensure the continued implementation of the Silicon Valley Bank’s (SVB) Community Benefits Plan (CBP) – which the bank agreed to in 2021 and is aimed at providing housing, small business, and…

Waters, McHenry Announce First Hearing on Silicon Valley Bank and Signature Bank Failures

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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…

Ranking Member Waters Announces Legislation in Progress to Strengthen Administration’s Authorities on Clawbacks and Penalties, Urges Regulators to Finish Rules and Use Existing Authorities to Hold Executives Accountable Following Bank Failures

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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…

Waters, Brown Commend Federal Regulators for Protecting Banking System

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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…

Ranking Member Waters’ Statement Following the Closure of Silicon Valley Bank

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Tags: FDIC

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Deposit Insurance Corporation’s closure of Silicon Valley Bank. “I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history. I am closely monitoring and convening Committee members with…

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…

Chairwoman Waters Congratulates Acting Chair Marty Gruenberg on Nomination as FDIC Chair

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Tags: FDIC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services released this statement following the Biden administration’s nomination of Martin Gruenberg to be chairman of the Federal Deposit Insurance Corporation (FDIC): “I want to congratulate Acting Chair Martin Gruenberg on his nomination by President Biden to serve as chairman of the Federal…

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…

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