During general debate on H.R. 5424 on the House floor today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, led opposition to the measure, which would roll back Dodd-Frank’s much-needed oversight and transparency measures for private equity funds, hedge funds, and others in the shadow banking industry.
In her remarks, Waters lamented that the… Read more »
During floor consideration of H.R. 2357, Congresswoman Maxine Waters (D-CA), Ranking Member of Committee on Financial Services, urged rejection of the bill, which would harm American investors and small businesses and thwart regulators’ abilities to police the markets against fraud.
In her remarks, Ranking Member Waters criticized House Republicans for “prioritizing a bill that would… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, today introduced a bill, H.R. 5953, to forgive the $23 billion in debt at the National Flood Insurance Program (NFIP) and place the program on a path toward solvency and affordability ahead of its reauthorization in fiscal 2017.
The NFIP provides flood insurance to more than 5 million households… Read more »
In the wake of historic flooding in the Baton Rouge, La., area, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services and long-time friend to the Louisiana area, visited the disaster-affected region. Rep. Waters met with local officials as well as affected residents to review the damage, assess the federal government’s response thus far, and understand… Read more »
Today, in the face of the historic flooding in Louisiana, a trio of House Democratic lawmakers called on Republican leadership of the Financial Services Committee to hold a field hearing in Baton Rouge, Louisiana, to examine the government’s response to the recent flooding in that area, and to better inform the Committee as it prepares to consider the reauthorization of the National Flood… Read more »
Following historic flooding in Louisiana and the President’s disaster declaration leaving open the possibility that the state may have to cover 25 percent of public assistance funds, Congresswoman Maxine Waters (D – CA), Ranking Member of the Committee on Financial Services sent a letter to President Obama and called on him to use his authority to provide relief for the state and require… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in the wake of historic flooding in Baton Rouge, Louisiana:
“As the devastating flooding in Baton Rouge, Louisiana demonstrates, too many Americans receive outdated and incorrect signals from the National Flood Insurance Program (NFIP). Only a small fraction of… Read more »
Today, 65 House Democrats, led by Reps. Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services; John Conyers, Jr. (D-MI), Ranking Member of the Committee on the Judiciary; and Henry C. “Hank” Johnson, Jr. (D-GA), Ranking Member of the Subcommittee on Regulatory Reform, Commercial and Antitrust Law, sent a letter to the Consumer Financial Protection Bureau expressing… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the sixth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, highlighting the successes of the Consumer Financial Protection Bureau as it celebrates five years of working for consumers:
“In the six years since we enacted Wall Street… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on Senate passage of H.R. 3700, “The Housing Opportunity Through Modernization Act of 2015,” that will make improvements to federal housing programs:
“I am pleased that Congress has come together to improve some of our most important federal housing programs. The… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, sent a letter urging the Department of Justice to pursue prosecution of HSBC employees over alleged financial crimes related to money laundering.
Waters opposed the approach the Justice Department took in 2012 when allegations surfaced that HSBC failed to prevent money laundering by… Read more »
As the House considered H.R. 4992, the so-called “United States Financial System Protection Act,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, called out Republicans for rushing a harmful bill to the floor on the last day of session as part of their “reckless and politically driven ‘Iran week’ agenda.”
In floor remarks opposing the bill,… Read more »
In opening remarks during a Financial Services Committee markup today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, expressed concern with legislation that would violate or undermine the U.S.’s commitments under the Iran nuclear deal.
“We are considering two pieces of legislation today that would have serious consequences for our ability to uphold the Iran… Read more »
In opening remarks at a House Financial Services Committee hearing today with Secretary of Housing and Urban Development Julián Castro, Ranking Member Maxine Waters (D-CA) criticized Republicans for “hijacking a very important topic in order to launch attacks on the Secretary, and the Department, rather than substantively examine the issues impacting working people in this country.” … Read more »
Today, the House Financial Services Committee held a hearing on the Republican plan to gut the Dodd-Frank Act. Committee Democrats and the Democratic witness, Georgetown University Law Professor Adam Levitin, explained how this plan would benefit special interests and expose us to another financial crisis.
“The Choice Act is a bad choice, is a recipe for financial disaster. It… Read more »
In opening remarks during a Financial Services Committee hearing today, Congresswoman Maxine Waters (D-CA), the Committee’s Ranking Member, denounced Republicans’ deregulatory agenda that puts the needs of special interests above working Americans.
Waters noted that Chairman Hensarling’s legislation, the “Wrong Choice Act,” to gut Dodd-Frank would make “radical changes to our… Read more »
Tomorrow, the House Financial Services Committee will hold a hearing on Chairman Hensarling’s plan to gut Wall Street Reform. Here’s why repealing Dodd-Frank is the Wrong Choice for consumers, investors, and the entire financial system:
… Read more »
Today, Congressman Frank Pallone, Jr. (NJ-06), Congresswoman Maxine Waters (CA-43), and 21 of their colleagues sent a bipartisan letter asking that FEMA fulfill its legal obligation to provide oversight of the private insurance companies that participate in the National Flood Insurance Program (NFIP).
In the wake of Superstorm Sandy and other recent disasters, FEMA and NFIP have… 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… Read more »
Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) – the leading Democrats on the Senate Banking and House Financial Services Committees – issued the following statement after the U.S government removed GE Capital’s designation as “systemically important” to the financial system. The Financial Stability Oversight Council (FSOC), which includes the Treasury Department and Federal… Read more »
As a massive overhaul of the World Bank’s long-standing social and environmental safeguard policies moves to its final stage, two leading House members on international development issues expressed concern over the Bank’s proposed safeguards on worker rights.
In a letter to Treasury Secretary Jacob J. Lew, Reps. Maxine Waters (D-CA), Ranking Member of the House Financial Services… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement on legislation Chairman Hensarling unveiled yesterday to repeal critical parts of the Dodd-Frank Act, which would make financial markets less safe and put consumers at risk:
“Chairman Hensarling’s plan to kill Wall Street Reform puts special interests ahead of… Read more »
Yesterday, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, spoke at a press conference about the harms caused by predatory payday loans and the need for strong rules to protect victims from abusive practices.
Waters spoke alongside advocates from consumer, civil rights and faith-based groups to urge the Consumer Financial Protection Bureau to… Read more »
In opening remarks during today’s semi-annual Humphrey-Hawkins hearing with Federal Reserve Chair Janet Yellen, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, lauded the Federal Reserve Chair’s cautious approach to raising rates and her work to increase economic inclusion. Waters touted the actions taken by the Fed, the Administration and… Read more »
State-level regulation of the payday lending industry is insufficient in protecting consumers, a House Financial Services Committee Democratic staff report revealed, underscoring the need for strong federal consumer protections.
Because of the history of abuse in payday lending, many states have attempted to restrict these kinds of loans in order to protect consumers. However, the report… Read more »
