Today, at a Terrorism and Illicit Finance Subcommittee hearing entitled “Illicit Use of Virtual Currency and the Law Enforcement Response,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement: As Prepared for Delivery Thank you for scheduling today’s hearing to examine the illicit uses of virtual currency and the law enforcement response. It is alarming how virtual currencies, especially newer ones, are being used to finance ter... Read more

On Wednesday, October 25, 2017, House Financial Services Committee Democrats will lead an additional hearing to examine the massive data breach that occurred at Equifax, and to consider and discuss ideas for ensuring the integrity of our country’s consumer reporting system and safeguarding consumer data. The hearing, referred to as a “Minority Day Hearing,” is the second hearing before the Financial Services Committee during the 115th Congress where Democrats can select the panel of witnesses. E... Read more

At today’s Financial Services committee hearing on data security breaches, Ranking Member Maxine Waters (D-CA) cautioned lawmakers to ensure that any Congressional effort to set national enforcement and notification standards provide a strong federal minimum, ensure flexibility for states to build on those minimum standards and avoid hamstringing their ability to adapt and strengthen them as new technologies emerge. Waters underscored the importance of this issue, and called for a bipartisan app... Read more

Following President Obama’s announcement of a new initiative designed to provide consumers with more tools to assist victims of identity theft, improve the government’s payment security, and accelerate the transition to stronger security technologies, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement of support: “I hope the steps announced today will accelerate the private sector’s adoption of stronger security measures for payment ... Read more

Two state attorneys general say they have been in contact with J.P. Morgan Chase & Co. about a recent cyberattack in which the personal information for 76 million households was compromised. Among the issues being scrutinized is whether the bank alerted customers quickly enough about the breach, according to people familiar with the matter. The office of Connecticut Attorney General George Jepsen has contacted the bank since its disclosure earlier this year, a spokeswoman for the attorney genera... Read more

The top Democrat on the House Financial Services Committee is calling for Congress to pass cybersecurity legislation in response to the massive security breach at JPMorgan Chase. “The massive data breach announced yesterday at JPMorgan Chase serves as a pressing reminder that more must be done to strengthen data security across the financial system and protect consumers’ sensitive financial and other personally identifiable information," Rep. Maxine Waters (D-Calif.) said in a statement. JPMorga... Read more

Following yesterday’s announcement that the recent data breach at JP Morgan compromised contact information for about 76 million households and 7 million small businesses, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, today released the following statement, expressing concern and calling on Committee Republicans to make the issue an immediate priority: “The massive data breach announced yesterday at JP Morgan Chase serves as a pressing reminder that more ... Read more