Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, gave the following remarks at today’s Subcommittee on Oversight and Investigations hearing to discuss “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau.” At the hearing, Waters continued to underscore the seriousness of the allegations at the CFPB, and again called… Read more »

Following the House Appropriations Committee’s approval of a measure to fund the nation’s housing programs, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, blasted Republicans for undercutting important housing programs that protect our most vulnerable populations. The legislation, known as the Transportation, Housing and Urban Development and Related… Read more »

Following today’s report by the Consumer Financial Protection Bureau (CFPB) finding that consumers’ credit scores may be overly penalized for medical debt, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, welcomed the Bureau’s findings and called upon Committee Chairman Jeb Hensarling to hold a hearing on the issue, and on legislation Waters has introduced… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, reiterated her strong support for the Export-Import Bank and the quick renewal of its charter. Waters’ comments come in reaction to remarks made by Committee Chairman Jeb Hensarling during a speech today at the conservative Heritage Foundation, in which he once again expressed his longstanding… Read more »

At today’s full Committee hearing on the Financial Stability Oversight Council’s (FSOC) designation process,  Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, discussed the importance of the FSOC process in giving Congress and regulators the comprehensive view of the entire market necessary to identify and mitigate systemic risks. Waters also reminded… Read more »

Today, Rep. Maxine Waters, Ranking Member of the House Committee on Financial Services, announced the appointment of Charla Ouertatani as the Committee’s Staff Director. Ms. Ouertatani has held several positions under Rep. Waters during her seven years on Capitol Hill, including Deputy Staff Director, Deputy Chief of Staff/Legislative Director, Staff Director of the Housing and Insurance… Read more »

Ranking Member Supports HUD’s Fair Housing Rule As a longstanding supporter of efforts to prohibit housing discrimination and promote fair housing choice, today Congresswoman Maxine Waters (D-CA), top Democrat on the Financial Services Committee, called on the Department of Housing and Urban Development (HUD) to assert that continued investment in high-poverty, high-minority… Read more »

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters expressed her disappointment that House Republicans have refused to ratify the International Monetary Fund (IMF) quota reform package, she underscored its importance, and laid out the harmful impact delaying these reforms will have on global stability. Waters delivered these remarks… Read more »

At today’s full Committee markup on a number of pieces of legislation related to capital markets and financial institutions, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, laid out a number of concerns with the measures being considered. Waters criticized the capital markets bills for eroding  transparency and investor protections, while also… Read more »

Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, today announced changes in the Democratic membership of the Financial Services’ subcommittees. Changes were necessary due to the departure of former Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency, and the appointment of Rep. Steven Horsford (D-NV) to the Committee. Ranking Members of the… Read more »

At today’s full Committee hearing on “Oversight of the SEC's Agenda, Operations, and FY 2015 Budget Request” Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, praised Securities and Exchange Commission (SEC) Chair Mary Jo White for the Commission’s  progress implementing the Dodd Frank Wall Street Reform Act. She also underscored the need to accomplish… Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement in response to today’s GAO report on the Independent Foreclosure Review (IFR).  The study was conducted as the result of a 2012 request by Congresswoman Waters, Senator Robert Menendez (D-NJ) and Reps. Brad Miller (D-NC) and Luis Gutierrez (D-IL). Waters released… Read more »

A new government report suggests that errors made by banks and their agents during foreclosures might have been significantly higher than was previously believed when regulators halted a national review of the banks’ mortgage servicing operations. When banking regulators decided to end the independent foreclosure review last year, most banks had not completed the examinations of their… Read more »

Following the news that members of the Senate Banking Committee have reached an agreement on legislation to reauthorize the Terrorism Risk Insurance Act (TRIA), Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, applauded their progress and lamented the lack of action in the House of Representatives.  Waters has been outspoken in her support for a TRIA’s… Read more »

A bipartisan group of senators has struck a deal to extend a government insurance program for terrorist attacks. Under the proposal, the Terrorism Risk Insurance Act (TRIA) would be extended for another seven years, but private companies would shoulder a larger share of the costs if a terrorist attack occurred, according to an aide familiar with the deal. The program is set to expire… Read more »

At today’s press conference to discuss, among other issues, the need for action to reauthorize the Export-Import Bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, underscored the importance of a quick renewal of the Bank’s charter to create and sustain American jobs.   At the press conference, Waters and Financial Services Committee member… Read more »

At today’s Financial Services Committee hearing with regulatory officials to discuss “government red tape,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, applauded regulators for putting the financial system on more stable footing after the worst economic crisis in a generation, and criticized the majority for continuing to push an… Read more »

Urges speedy reauthorization of Bank’s charter At a Panel Discussion sponsored today by Congresswoman Maxine Waters (D-CA) on the importance of the Export-Import Bank, the Congresswoman underscored the importance of a quick reauthorization of the Bank’s charter to create and sustain American jobs.   The event featured the perspectives of a diverse array of business owners, large and… Read more »

On Tuesday, April 8, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, will host a panel discussion on the importance to U.S. workers and economic growth of a timely reauthorization of the Export-Import Bank. Since the announcement of the panel, Committee Republicans have incorrectly asserted that a hearing on this year’s Ex-Im reauthorization… Read more »

At today’s Financial Services’ Subcommittee on Oversight and Investigations hearing to discuss allegations of discrimination and retaliation at the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA) and Congressman Al Green (D-TX) expressed serious concern over the revelations of the witnesses and underscored the need for senior Bureau officials to come before… Read more »

WASHINGTON — Rep. Maxine Waters' plan to let banks control a sole entity to issue government-backed mortgage securities is dead-on-arrival, but her proposal still significantly alters the housing reform debate. A different housing finance bill in the Senate — which envisions private-market competition for securitizing loans — has greater bipartisan support and is scheduled for a… Read more »

Lawmakers call for hearing to be cancelled Following the announcement that the Consumer Financial Protection Bureau (CFPB) and the National Treasury Employees Union (NTEU) will not participate in a House Financial Services Subcommittee on Oversight and Investigations hearing to discuss ongoing claims of a single employee, two key Democratic members have raised concerns about the… Read more »

Today, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released a comprehensive legislative proposal to reform the housing finance market. Known as the Housing Opportunities Move the Economy (HOME) Forward Act of 2014, the legislation ends Fannie Mae and Freddie Mac, and creates a new, cooperative-owned securities issuer. For months, Waters has been… Read more »

A top House Democrat has offered her own take on overhauling the mortgage market, introducing legislation as Congress begins to move toward comprehensive legislation. Rep. Maxine Waters (D-Calif.) unveiled her spin on the bipartisan priority Thursday, dubbing it the Housing Opportunities Move the Economy Forward Act. “Reforming a 10 trillion dollar housing finance market is an… Read more »

WASHINGTON — Rep. Maxine Waters, D-Calif., unveiled a new plan Thursday to overhaul the housing finance market, entering what's becoming a crowded field of proposals to restructure the mortgage system. The discussion draft, titled the Housing Opportunities Move the Economy Forward Act, would unwind Fannie Mae and Freddie Mac, like many of the competing plans in both the House and… Read more »