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, urged caution as the Federal Reserve considers raising interest rates before the end of the year. Waters touted the importance of the Dodd-Frank Wall Street Reform Act in ensuring… Read more »

Congresswoman Maxine Waters (D-CA), the Ranking Democrat on the House Committee on Financial Services, is raising serious objections to what she characterized as a “harmful” Senate proposal to expand the Moving to Work (MTW) Program at the Department of Housing and Urban Development (HUD). In a letter addressed to leaders on the House and Senate Appropriations Committees, Ranking Member… Read more »

Leading Democrats on the Senate Banking and House Financial Services Committees today urged the Obama Administration to reconsider a proposal that would make it easier for lenders that have engaged in criminal behavior to keep accessing taxpayer-backed mortgage insurance. Sen. Sherrod Brown (D-OH), the Banking Committee’s senior Democrat, Rep. Maxine Waters (D-CA), the senior Democrat on… Read more »

This Thursday, July 16, 2015, at 2:30 p.m., Congresswoman Maxine Waters(D-CA), Ranking Member of the Committee on Financial Services, will convene leaders from Muslim, Christian and Jewish communities to highlight the moral and religious objections that faith leaders have raised in response to predatory payday and small-dollar lending practices in communities across America. The… Read more »

Complaints about illiquidity are prompting talk about reforms that are simplistic and even dangerous. For months everyone in financial markets has been talking about liquidity. Some say regulation has killed it, and the answer is to roll back financial reform. The reality is not so simple, and that prescription is dangerous. The marketplace is rapidly evolving. We must address future… Read more »

Today, four leading Democratic members of Congress hosted Chief Investment Officers (CIOs) from some of the largest federal pension plans and senior executives from the nation’s leading minority and women-owned asset management firms for a half-day summit to discuss the underutilization of these firms in the management of federal retirement plan assets. Congresswoman Maxine Waters… Read more »

At a hearing to commemorate the five year anniversary of the Dodd-Frank Wall Street Reform Act, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, issued a strong rebuke to Republican attacks on the landmark law, recounting the devastation of the crisis, the success of the law thus far, and documenting Republicans’ efforts to return to the practices that… Read more »

Today, several leading Democrats on the Financial Services Committee urged two federal agencies to “immediately” begin rulemaking to implement a key civil rights provision of the Dodd-Frank Wall Street Reform Act. In a letter led by Committee Ranking Member Maxine Waters (D-CA), 13 lawmakers urged Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and Federal Reserve… Read more »

Following today’s announcement by the U.S. Department of Housing and Urban Development (HUD) of a final rule that will provide communities with data, tools and guidance to help them meet long-standing fair housing obligations, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, praised the measure as critical to address the effects of the segregation and… Read more »

The International Monetary Fund has called for the US to defend and strengthen its Dodd-Frank financial reforms, adding fuel to the intense debate over how to balance stability and growth on Wall Street. In its first comprehensive assessment of the American financial system in five years, the IMF said the US needed to toughen regulation to ward off a repeat of the last financial… Read more »

Mere hours before the Export-Import Bank’s charter is set to expire at midnight, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined Democratic Whip Steny Hoyer (D-MD), Monetary Policy and Trade Subcommittee Ranking Member Gwen Moore (D-WI) and Congressman Denny Heck (D-WA) in expressing their disappointment about the Republican-driven… Read more »

As the House of Representatives leaves town for a week-long recess without taking up legislation to extend the Export-Import Bank’s charter just days before it is set to shut down, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “Today, Speaker Boehner and House Republicans have chosen once again to govern by… Read more »

Following the Supreme Court’s decision to uphold the doctrine of disparate impact under the Fair Housing Act, which allows courts to hold defendants liable for the discriminatory effects of its actions, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised the decision. The standard was challenged under the case entitled Texas Department of… Read more »

Following a House panel’s approval of legislation to fund the Departments of Labor, Education, and Health and Human Services, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized Republicans for advancing legislation that would undermine a broad swath of the American people, from seniors and students to those investing in their retirement.… Read more »

With just one day remaining for Congress to act before the Export-Import Bank shuts down, a wide array of Democrats took to the House floor asking for unanimous consent to extend its charter by bringing up H.R. 1031 – a bill sponsored by Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, Monetary Policy and Trade Subcommittee Ranking Member Gwen Moore (D-WI), Reps.… Read more »

WASHINGTON — Too little, too late. That is how some consumer groups and lawmakers describe new federal guidelines meant to encourage banks and other financial companies to hire, promote and properly treat racial minorities and other historically disadvantaged groups. The guidelines, issued June 9 and mandated by the Dodd-Frank Act, provide a framework for financial institutions to… Read more »

Today, two leading Democratic Members of Congress are raising concerns with the release of final diversity assessment standards by six federal financial regulators, which were called for by the Dodd-Frank Wall Street Reform Act. In a joint statement Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee and chief architect of the provision, known as… Read more »

Today, with just five days for Congress to act before the Export-Import Bank shuts down, Democrats on the Financial Services Committee took to the House floor in an attempt to force a vote to bring legislation to reauthorize, reform and re-energize the Export-Import Bank up for a vote. Using a parliamentary procedure called the "previous question," Democrats are pressing for consideration… Read more »

Following a House panel’s approval of a financial services spending bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized Republicans for advancing legislation that would undermine consumer protection, weaken important Wall Street reforms and hurt regulators’ ability to protect our economy. She released the following statement: “This… Read more »

In February, federal prosecutors began a 90-day examination to determine whether to bring cases against individuals for their role in the 2008 financial crisis. The deadline for that inquiry passed last month, with the Justice Department failing to hold any individuals accountable for their crimes. Instead, the DOJ announced that it would allow five megabanks to plead guilty to felony… Read more »

During today’s full committee hearing to discuss the Financial Stability Oversight Council’s annual report with Treasury Secretary Jack Lew, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee applauded the critical work of the Council in identifying risks to the financial system and protecting American consumers and the overall stability of the economy.… Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised the Department of Housing and Urban Development (HUD) for its announcement to provide reverse mortgage servicers the discretion to allow surviving spouses to stay in their homes in instances where the borrower passes away. Ranking Member Waters has been a leader on this issue, in May… Read more »

During today’s full Committee hearing featuring Department of Housing and Urban Development (HUD) Secretary Julian Castro, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, highlighted the critical importance of HUD and underscored the need to provide robust funding for the agency’s programs. In opening remarks, the top Democrat noted that… Read more »

With just ten days left for Congress to act before the Export-Import Bank shuts down, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, took to the House floor to call on House Republican leadership to bring renewal legislation to a vote. Stressing the importance of the agency to creating and sustaining American jobs in every corner of the… Read more »

Following the House’s passage of a measure to fund the nation’s housing programs, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, blasted Republicans for undercutting important housing programs that protect our most vulnerable populations. Waters also expressed her disappointment with GOP efforts to bury the debate on the housing title of the… Read more »