Today, at a full Committee hearing on the effects of H.R. 1, the Republican tax scam legislation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement: Thank you, Mr. Chairman. Since we are taking the time today to discuss the effects of H.R. 1, the Republican tax scam, I’d like to make it very clear what is really in this law. The tax scam contains massive giveaways to the nation’s largest banks. An Americans for Tax Fairness an... Read more

Today, in response to the House Committee on Appropriations markup of the fiscal year 2019 Financial Services and General Government Appropriations bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The Trump Administration and Congressional Republicans are shameless in their attempts to rollback consumer protections and this bill is yet another attempt to undermine Wall Street reform and dismantle the Consumer Fi... Read more

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full Committee markup to consider the Majority's Views and Estimates on the Budget for FY 2019: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, Committee Democrats are committed to advancing policies that create shared prosperity and economic opportunities for all, ensure fairness in our economy, protect consumers from predatory practices, and suppor... Read more

Today, in response to the Trump Administration’s release of its full budget request to Congress for Fiscal Year 2019, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Trump’s budget proposal would harm American consumers, hurt our nation’s communities and wipe out financial reforms that are in place to prevent another financial crisis. “Trump proposes to eliminate the Consumer Financial Protection Bureau’s independent fun... Read more

In response to House Republicans’ budget resolution to dismantle Wall Street reform, gut the Consumer Financial Protection Bureau, eliminate the procedures that safely liquidate failing mega-banks and stop future taxpayers bailouts, and ultimately bring back the same risky and predatory Wall Street practices and products that led to the Great Recession, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Because most America... Read more

Last week, House Financial Services Committee Ranking Member Maxine Waters (D-CA), Vice Ranking Member Dan Kildee (D-MI) and Housing and Insurance Subcommittee Ranking Member Emanuel Cleaver (D-MO), hosted a roundtable discussion on how the Trump Administration’s full budget request would create suffering for whole communities; increase poverty, hunger and homelessness; and reduce economic development opportunities across the nation. The panel, which featured both urban and rural community leade... Read more

Today, in response to the Trump Administration’s release of its full budget request to Congress for Fiscal Year 2018, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Donald Trump has once again revealed who he really is, with a cruel and senseless budget that abandons Main Street and the vulnerable. “The Trump budget mirrors efforts by Congressional Republicans to roll back Wall Street reform and take us back to the bad ... Read more

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, which oversees federal housing programs, urged her colleagues to meet the housing needs of the country’s most vulnerable populations during the federal appropriations process for fiscal year 2018. The Ranking Member proposed funding increases for a variety of federal housing programs, including the Department of Housing and Urban Development’s (HUD) McKinney-Vento Homeless Assistance Grants (McKinney-Ve... Read more

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the statement below in response to President Trump’s budget blueprint: “This a dangerous budget, but we only know part of it. Trump’s massive cuts to housing and economic development programs would put millions of Americans and their communities at risk. But this is only part of the story: Trump’s budget is silent on the future of Wall Street’s cop, the Securities and Exchange Commission, and the ... Read more

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, rebuked Committee Republicans for putting forth budget views that fail to address issues of wealth inequality, the racial wealth gap, homelessness, affordable housing, consumer protection, and investor protection. As Prepared for Delivery Thank you, Mr. Chairman. Today, this Committee will consider Views and Estimates on the Budget for Fiscal Year 2018. This is important work, as our Committee has juris... Read more

The leading Democrats on the Senate Banking and House Financial Services Committees today urged Congressional leaders to reject any attempts to use must-pass government funding legislation to repeal, weaken, or delay financial reforms and consumer protections. In a letter to Senate and House leaders, Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) said they will oppose ideological policy riders to year-end funding legislation aimed at rolling back protections of the Dodd-Frank Wall Stree... Read more

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on Republicans’ continuing resolution (CR) that would fund the government until December: “Republicans have proposed a continuing resolution to fund our government and services to the American people that is simply unacceptable. This CR is an insult to the people of Flint, Mich., where thousands of children have been poisoned by lead in their drinking water and many st... Read more

Last night, the House of Representatives passed a harmful Republican spending bill, H.R. 5485, which would underfund the nation’s financial services regulators for fiscal year 2017 and put consumer protection and financial stability at risk. Despite Democratic efforts to improve the bill through the amendment process, Republicans pushed through this legislation, which would make it harder for financial regulators to protect consumers, investors, and the entire financial system. The bill “so grav... Read more

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, rebuked Committee Republicans for putting forth budget views that ignore the significant progress that has been made since the 2008 crisis. Waters highlighted that the Republican budget failed to provide real solutions that will address the problems of the racial wealth gap, homelessness, consumer protection, investor protection and a stable financial system. She released the following statement, which ... Read more

Today, as the House of Representatives considered the Republican budget proposal on the House Floor, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, waged a devastating critique of the proposal as harmful to our nation’s economic stability, to our housing market and to American consumers. Waters criticized the shortsightedness of a Republican budget that would invite a return to the risky days that led to the crisis, by repealing important prohibitions aga... Read more

Over the course of a two-day markup of Republican fiscal year 2016 budgetary priorities in the financial services sector, Financial Services Committee Democrats fought back against a Republican effort to eliminate taxpayer protections and undermine the social safety net. Led by Ranking Member Maxine Waters (D-CA), Democrats fiercely opposed rampant mischaracterizations of critical federal agencies and initiatives, including the Consumer Financial Protection Bureau, Section 8 public housing progr... Read more

In a highly charged meeting of the Financial Services Committee to consider the fiscal year 2016 “Budget Views and Estimates” Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, chastised Committee Republicans for putting forth a budget that fails to provide real solutions that will address the problems of income inequality, the racial wealth gap, slow wage growth, unemployment and a secure social safety net. She released the following statement, which can be ... Read more

The top Democrat on the House Financial Services Committee, Congresswoman Maxine Waters (D-CA), today took her opposition to a provision that could bring back an era of Wall Street bailouts to the House floor. In a fiery speech, Waters expressed her concerns with a Wall Street-authored provision that repeals important taxpayer protections against reckless bank activity enacted as part of the Dodd-Frank Wall Street Reform Act. The provision was jammed into the must-pass government funding package... Read more

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today gave the following opening statement at today’s full committee markup of five bills intended to promote economic growth and the majority’s Budget Views and Estimates for fiscal year 2015. Her remarks are below. ) As prepared for delivery: Thank you Mr. Chairman. Promoting economic growth and reducing income inequality are critically important to ensure opportunity for every American. Today we are ... Read more

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement on the Republican-imposed government shutdown. “The irresponsibility of the Republican Party cannot be overstated. As we slowly emerge from the worst economic crisis in over 70 years, I am saddened that ideological extremism has led to another self-inflicted wound that could have dire consequences for our fragile recovery. Even a short shutdown threatens job creation, harms small ... Read more

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, joined by Representative Michael E. Capuano and 65 of their Democratic House colleagues, has released a letter to key Members of the House Committee on Appropriations urging adequate funding for critical community development and housing programs in the Fiscal Year 2014 Transportation, Housing and Urban Development (THUD) appropriations bill. The letter to THUD Appropriations Subcommittee Chairman Tom Latham a... Read more

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, joined by Representative Carolyn Maloney and 51 other Members of Congress, has released a letter to key Members of the House Committee on Appropriations calling for full funding of the Securities and Exchange Commission (SEC) at the amount requested by the Obama administration for fiscal year 2014. The SEC is responsible for ensuring that the nation’s capital markets are fair, orderly and efficient, and that i... Read more

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today made the following statement on the House Floor: Thank you Mr. Speaker, and I thank Mr. Van Hollen for yielding me time. Today I rise in strong opposition to the Republican’s Budget, a budget that makes absurd claims to reducing the deficit by repealing crucial government authority to protect our economy—lest we forget that Lehman’s disorderly bankruptcy sparked the worst financial crisis since the Great... Read more

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, led committee Democrats today in calling for an open debate on the effects of sequestration, requesting that all Committee members put aside theoretical discussions of “Budget Views and Estimates.” The complete text of her opening statement follows. Thank you, Mr. Chairman. The Committee is supposed to meet today to discuss its views on the federal government’s budget for fiscal year 2014. However, given the l... Read more