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Department of the Treasury

Ranking Member Waters Applauds FSOC’s Move to Reverse Harmful Trump-Era Guidance, Urges Further Action to Promote Financial Stability

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Service Committee, released this statement following the latest move by the Financial Stability Oversight Council (FSOC) – which sits within the U.S. Department of Treasury – to rescind former U.S. Treasury Secretary’s guidance on nonbank systemically important financial institutions (SIFIs). “When…

Ranking Member Waters Joins Bipartisan, Bicameral Letter Demanding Proposed Beneficial Ownership Rule Reflect Congressional Intent

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Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, joined a bipartisan, bicameral group of lawmakers in sending a letter to Treasury Secretary Janet Yellen and Financial Crimes Enforcement Network (FinCEN) acting Director Himamauli Das regarding the Treasury Department’s Notice of Proposed Rulemaking (NPRM) on Beneficial Ownership…

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…

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…

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…

Waters Announces Financial Services Suspension Victories

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Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced passage of the following bills under suspension of the rules: H.R. 6889, the “Credit Union Board Modernization Act” is a bill offered by Representative Juan Vargas (D-CA) that would reduce the minimum number of board of director meetings for Federal credit unions that are highly…

Waters Delivers Opening Statement at Annual Full Committee Hearing with Treasury Secretary Yellen on the State of the International Financial System

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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 hearing entitled, “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.”  I would like to welcome Treasury Secretary Janet Yellen who today is presenting testimony for the first…

Chairwoman Maxine Waters and Representative Jimmy Gomez Send Letter with 36 Members of Congress from California to Treasury Secretary Janet Yellen About Unused Emergency Rental Assistance

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Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Jimmy Gomez (D-CA) co-led a letter with 36 Members of California’s Congressional delegation to Treasury Secretary Janet Yellen urging the Department of the Treasury to reallocate unused Emergency Rental Assistance Program (ERA) funds to states with the highest need for such…

Waters Delivers Opening Statement at Full Committee Hearing on the President’s Working Group Report on Stablecoins

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Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee virtual hearing entitled, “Digital Assets and the Future of Finance: The President’s Working Group on Financial Markets’ Report on Stablecoins.” Today’s hearing is part of this Committee’s ongoing review of digital assets. This Committee has been…

Waters, Brown, Maloney Urge Treasury to Take Swift Action to Implement Law Cracking Down on Anonymous Shell Companies

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Today, Rep. Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Sen. Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Rep. Carolyn B. Maloney (D-NY), Chairwoman of the House Committee on Oversight and Reform, wrote a letter to Treasury Secretary Janet Yellen urging the Treasury Department to move swiftly on…

Waters Opening Statement at Full Committee Hearing on the Treasury Department’s and Federal Reserve’s Pandemic Response

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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 hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” Welcome back, Secretary Yellen and Chair Powell. As this pandemic continues, the Biden Administration and Congressional Democrats…

Waters Announces September 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 September: September 10 at 12:00 PM ET: The full Committee will convene for a virtual hearing entitled: “Protecting Renters During the Pandemic: Reviewing Reforms to Expedite Emergency Rental Assistance.” September…

Waters Statement on Supreme Court Decision to End CDC Eviction Moratorium

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, issued the following statement following a 6-3 Supreme Court decision that ended the Centers for Disease Control and Prevention (CDC) eviction moratorium. “Tonight, the Supreme Court, along partisan lines, decided that the CDC eviction moratorium in areas experiencing high rates of…

Waters Introduces Legislation to Extend Federal Eviction Moratorium to Keep Families Housed

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released a statement following the introduction of her legislation, the “Protecting Renters from Evictions Act, of 2021,” that would extend the eviction moratorium through the end of the year. “The current eviction moratorium expires in two days, on July 31, putting millions of people at…

Chairwoman Waters Meets with Secretary Yellen, Discusses Implementation of Rental Assistance

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, met with Treasury Secretary Janet Yellen to discuss a variety of important issues including the implementation of emergency rental assistance. “This morning, I met with Secretary Yellen to discuss my priorities and the many ways in which we can work together to ensure that our country is…

Waters and Warner Urge Extension of Emergency Capital Investment Program Application Deadline

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Mark Warner (D-VA) sent a letter to Treasury Secretary Janet Yellen urging the extension of the Emergency Capital Investment Program (ECIP) application deadline to ensure the highest level of participation from eligible community development financial institutions (CDFIs) and…

Waters at Hearing with Yellen and Powell: We Must Ensure That There is a Sustained and Equitable Recovery

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening statement at a full Committee virtual hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.”  I’d like to welcome Secretary Yellen and Chair Powell.  I am very pleased that, with Democrats’ passage of…

Waters Announces Updates to March Hearing Schedule

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following updates to the hearing schedule for the month of March: March 10 at 10:00 AM ET: The full Committee will convene for a virtual hearing entitled, “Justice for All: Achieving Racial Equity Through Fair Access to Housing and Financial Services.” …

Waters Applauds Treasury Effort to Help Vulnerable Countries Fight Pandemic Through Global Action

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, issued the following statement applauding the commitment by Treasury Secretary Janet Yellen to pursue a new allocation of Special Drawing Rights (SDRs) by the International Monetary Fund (IMF). “I am very pleased by Secretary Yellen’s decision to seek a multilateral agreement to support…

Waters Applauds Janet Yellen’s Confirmation as Treasury Secretary

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Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released the following statement on the confirmation of Janet Yellen as Secretary of the U.S. Department of the Treasury. “As Chairwoman of the House Financial Services Committee, I worked closely with Janet Yellen during her service as Chair of the Board of Governors of the Federal Reserve System…

Waters Slams Trump Administration’s Harmful, Rushed Actions to Limit Activities of GSEs, Bail Out Hedge Funds

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement in response to changes that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency (FHFA) Director Mark Calabria made to Treasury’s ownership stake in the government sponsored enterprises, Fannie Mae and Freddie Mac.  “It is simply…

Waters Provides Recommendations to President-Elect Biden on Trump Actions to Reverse

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to President-Elect Joseph R. Biden, providing recommendations on areas where the Biden Administration should immediately reverse the actions of the Trump Administration, and several actions that the Biden Administration can immediately take to coordinate the federal response…

Waters Demands Regulators Cease and Desist from Finalizing Midnight Rules Until President-Elect Biden Assumes Presidency

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, sent a letter to agencies within the Committee’s jurisdiction calling on them to cease and desist from finalizing any “midnight rulemakings” or other administrative actions until President-Elect Joseph R. Biden is sworn into office on January 20, 2021.  “On November 3, 2020, the American…

Waters Calls Out Mnuchin for Prematurely Ending Essential Emergency Lending Programs

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following statement at a full Committee hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” Today the Committee convenes to conduct oversight over the Treasury Department’s and Federal Reserve’s pandemic response. This pandemic…

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