At today’s Financial Services Committee Hearing focused on Terrorist Financing and the Islamic State, Ranking Members Maxine Waters (D-CA) discussed the seriousness of the threat from ISIL and the challenges to curtailing its current, largely internal funding stream. However, the Ranking Member also underscored importance of strengthening our counter-terrorism and anti-money laundering… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, today released the following statement in support of the Consumer Financial Protection Bureau’s (CFPB) newly proposed federal consumer protections for prepaid cards. Waters praised the action, citing an increased reliance on alternatives by the unbanked and underbanked. The Ranking Member also… Read more »
Today, eight Democratic members of House Committees on Financial Services and Oversight and Government Reform (OGR) called on the Securities and Exchange Commission (SEC) to send a strong message that corporate practices to deter whistleblowers from reporting violations of securities laws will not be tolerated.
In a letter to SEC Chair Mary Jo White, Financial Services Ranking Member… Read more »
A decision by Congress to extend the Export-Import Bank only temporarily is raising concern among business owners who say they rely on the credit agency to lower the risks of exporting.
Congress extended the agency’s charter through the middle of next year as part of a compromise between supporters of the agency and those who want to eliminate it. Generally, lawmakers reauthorize the… 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… Read more »
Today, two key lawmakers on the House Financial Services Committee unveiled a bipartisan discussion draft of legislation to renew and reform the charter of the Export-Import Bank (Ex-Im Bank), an agency that supports hundreds of thousands of jobs and levels the playing field so that American businesses are able to compete successfully in global markets.
Rep. Gary Miller (R-CA),… Read more »
Two federal lawmakers from California unveiled bipartisan legislation Tuesday to reauthorize the embattled Export-Import Bank for five years, proposing changes to its operations in hopes of addressing concerns of conservative critics.
Among the reforms are an enhanced reserve fund to cover losses on loans the bank makes to foreign buyers of U.S. goods, as well as codifying the position… Read more »
A pair of senior lawmakers are proposing the first bipartisan legislation in the House this year to reauthorize the Export-Import Bank and impose new requirements intended to protect taxpayers.
Rep. Maxine Waters of California, the top Democrat on the House Financial Services Committee, and Rep. Gary Miller of California, the panel’s vice chairman, will propose Tuesday extending the… Read more »
Two senior House lawmakers on Tuesday introduced bipartisan legislation that would provide a five-year reauthorization of the Export-Import Bank.
Reps. Gary Miller (R-Calif.), vice chairman of the House Financial Services Committee, and Maxine Waters (D-Calif.), the top Democrat on the panel, teamed up on the House's first bipartisan draft legislation that would provide the bank with a… Read more »
The U.S. Labor Department faces Capitol Hill pressure to think twice before letting Credit Suisse Group AG (CSGN) continue managing pension-fund assets after it helped Americans evade taxes.
Congressional Democrats Maxine Waters, Stephen F. Lynch and George Miller sent a letter to the department yesterday asking it to “seriously consider” whether the bank deserves a waiver it… Read more »
Three House Democrats are urging the Labor Department to reconsider its proposed waiver of sanctions on Credit Suisse following its guilty plea over tax evasion charges.
Reps. Maxine Waters (Calif.), ranking member of the Financial Services Committee, George Miller (Calif.), ranking member of the Education and the Workforce Committee and Stephen Lynch (Mass.) called for a “thorough and… Read more »
House Democrats today called for a hearing to question whether the Labor Department should allow Credit Suisse, the Swiss banking giant that settled tax evasion crimes with the government in May, to continue doing business in the United States.
Because Credit Suisse pleaded guilty, the bank needs a waiver from the Labor Department to continue its asset management services for pension… Read more »
Today, three prominent members of the House of Representatives expressed serious concern with, and called for a hearing to examine, a proposal by the Department of Labor to waive sanctions imposed on Credit Suisse stemming from its guilty plea for conspiring to aid tax evasion for over two decades.
In a strongly-worded letter to Labor Secretary Thomas Perez, Reps. Maxine Waters… Read more »
Credit-related mistakes can follow you link a stink you can’t wash off. Have an account go into collections, miss payments on your student loans, credit cards, mortgage, car loan, and that info can linger on your credit report for up to seven years, even if it’s just a fluke. This is particularly a problem with medical debt, where even someone with otherwise pristine credit is unable to… Read more »
A House Republican's effort to rally support for overhauling the Terrorism Risk Insurance Program fell flat, sources familiar with the matter told SNL on Nov. 5.
Trade groups and business organizations spanning the insurance, real estate and banking industries refused to formally back Rep. Randy Neugebauer's bill to reauthorize the program for five years and make significant changes to… 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… 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… 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… Read more »
Wall Street’s top regulator is coming under new criticism for failing to adequately police the banks under its supervision, years after the financial crisis.
Lawmakers are scrutinizing allegations that the Federal Reserve Bank of New York went easy on one of the most prominent banks under its watch, Goldman Sachs, despite concerns voiced by those inside the Fed that a deal Goldman was… Read more »
Three Democratic members of Congress joined their Senate colleagues in calling for a probe of Wall Street regulators.
The three members — Reps. Maxine Waters of California, Al Green of Texas and Keith Ellison of Minnesota — signed a letter Tuesday urging hearings on the Federal Reserve Bank of New York and whether it's too close with the banks it supervises.
They were responding to… Read more »
Democrats on the House Financial Services Committee are asking panel Republicans to hold a hearing into recent news reports concerning whether the Federal Reserve Bank of New York fired a bank examiner for refusing to back down from negative assessments of Goldman Sachs.
Rep. Maxine Waters and other Democrats wrote committee Chairman Jeb Hensarling and Oversight and Investigations… Read more »
Today, a trio of House Democratic lawmakers called on Republican leadership of the Financial Services Committee to hold a hearing to review the culture and management practices within the Federal Reserve Bank of New York.
Citing a September 26 media report that indicated a risk averse culture where the Federal Reserve was deferential to the very entities it was charged with… Read more »
WASHINGTON — The Export-Import Bank won a reprieve from Congress because its renewal was tucked into a must-pass bill funding the federal government. Next time, the bank will have to fight for survival on its own.
When the lender's charter comes up for reauthorization in June, it will be in a separate bill, and supporters say that's likely to imperil the 80-year-old institution. The… Read more »
Do you think you'd have a better chance to qualify for a home mortgage if negative items in your credit files were erased in four years rather than the current seven?
How about if your credit reports included information on your utility bills, rent, cable, mobile phone and other monthly payments? Wouldn't this give a nice jolt to your credit scores, assuming that you've paid these… Read more »
Businesses and other supporters of the Export-Import Bank cheered the nine-month extension given final approval by the Senate on Thursday night, but remain worried about the future of the embattled agency.
"Congress has left thousands of small, medium and large U.S. exporters and their workers in limbo until the middle of next year and this will likely negatively impact U.S. sales to… Read more »
