In the face of a Republican agenda that seeks to erode consumer protection and undermine Wall Street reform, Democratic members of the Financial Services Committee have called for a renewed focus on a legislative goal that is proven to preserve and create U.S. jobs by helping American businesses compete internationally for opportunities to export goods and services.
In a letter to… Read more »
For the second straight day, House Republicans rejected a Democratic procedural motion to bring bipartisan legislation that would delay the implementation of flood insurance increases up for a vote.
Again using a parliamentary procedure to order the "previous question," Republicans blocked an effort to bring H.R. 3370, the bipartisan Homeowner Flood Insurance Affordability Act, to the… Read more »
At today’s Financial Services Committee hearing featuring the five agencies charged with promulgating the Volcker Rule, Congresswoman Maxine Waters (D-CA), top Democrat on the Committee, commended regulators for working to put forth a strong rule that will ensure a more stable financial system.
Passed as part of the Wall Street Reform Act, the Volcker Rule ensures taxpayer dollars… Read more »
At today’s hearing to review the Treasury Department’s Federal Insurance Office’s (FIO) Report on Modernizing Insurance Regulation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, applauded the Office for its efforts to oversee the insurance marketplace and protect consumers. She also called for improved access to insurance in underserved… Read more »
Waters Calls for Immediate Passage of Legislation to Delay Flood Insurance Rate Hikes
Today, House Republicans rejected a Democratic procedural motion to bring bipartisan legislation that would delay the implementation of flood insurance increases up for a vote.
Using a parliamentary procedure called the "previous question," House Republicans blocked an effort to bring H.R. 3370, the… Read more »
Waters Calls for Immediate Action by the House
Following Senate passage of bipartisan, bicameral legislation to fix the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement:
“This is a huge step toward providing much needed relief for our nation’s homeowners. Yet the… Read more »
Today, Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, commended Consumer Financial Protection Bureau (CFPB) Director Richard Cordray for the Bureau’s significant accomplishments in protecting our nation’s consumers and service members who have been victimized by unscrupulous corporations and financial institutions.
At today’s full committee hearing… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, lauded tonight’s Senate vote to move forward with debate on the Homeowner Flood Insurance Affordability Act, bipartisan legislation introduced in the House and Senate to fix the National Flood Insurance Program (NFIP).
The Senate voted 86-13 on the procedural motion, which would delay increases… Read more »
Last week, a diverse group of insurance experts, policyholders and industry professionals joined with Members of Congress to discuss the importance of the Terrorism Risk Insurance Act (TRIA), an important federal program which, for more than a decade, has created jobs and ensured our largest venues, businesses and employers have affordable access to terrorism insurance coverage.
Enacted… Read more »
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, touted the importance of the recently-released Volcker Rule for ensuring taxpayer dollars are no longer used to protect banks from risky trading losses. In a statement delivered in a hearing of the full Financial Services Committee on the measure, Waters underscored that a strongly… Read more »
Financial Services Committee Ranking Member Maxine Waters discusses data breaches at Target and Neiman Marcus as well as reports that other retailers, whose names have not been disclosed, have been hacked. Waters led a call by Financial Services Committee Democrats for Republicans to hold hearings on the data breach.
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Following the release of an interim rule by regulators making changes to a provision of the “Volcker Rule” related to the treatment of investments in Collateralized Debt Obligations (CDOs) backed by Trust Preferred Securities (TruPS), Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement supporting the decision to provide… Read more »
As the nation commemorates the 50th anniversary of President Johnson’s call for a “War on Poverty,” Democratic members of the Financial Services Committee are calling on Republican Leadership to explore strategies that can further reduce or eliminate the number of impoverished children and families living in the United States.
In a letter to Committee Chairman Jeb Hensarling (R-TX), the… Read more »
As Janet Yellen prepares to assume leadership of the Federal Reserve Board of Governors, a number of prominent Democrats on the Financial Services Committee have called on her to ensure the Fed’s policymaking and regulatory agenda take into account the unique challenges facing our nation’s community banks.
In a letter to Yellen, the current Vice Chair, 14 Democratic Committee members… Read more »
Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement regarding the omnibus appropriations legislation.
“While this agreement is an improvement from the harmful funding levels called for by the sequester, I’m disappointed that the omnibus appropriations legislation fails to adequately fund our financial regulators,… Read more »
House Democrats on the Financial Services Committee are pushing for congressional hearings on tackling poverty and income inequality.
In a letter sent to Chairman Jeb Hensarling (R-Texas) on Monday, all 27 Democrats on the finance panel pushed for committee hearings on how Congress can “improve wages, housing adequacy and affordability and increased access to the financial… Read more »
On Wednesday, January 15, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, will moderate a bipartisan panel discussion on the reauthorization of the Terrorism Risk Insurance Act (TRIA), which for nearly 12 years has provided the nation’s largest venues, businesses and employers with affordable access to terrorism insurance coverage. This panel,… Read more »
A group of 17 Democrats from the House Financial Services Committee Monday called for a full committee hearing to address problems stemming from and related to the recent Target data breach that could have affected up to 110 million consumers.
The 17 Democrats drafted a letter to House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, requesting a hearing to… Read more »
In the wake of the massive Target data breach that compromised more than 40 million credit and debit card accounts as well as the personally identifiable information of as many as 70 million consumers, Democratic members of the Financial Services Committee have called for an inquiry into the problem.
In a letter to Financial Services Committee Chairman Jeb Hensarling (R-TX), 17 Democrats… Read more »
As regulators contemplate changes to a provision of the “Volcker Rule” related to the treatment of investments in Collateralized Debt Obligations (CDOs) backed by Trust Preferred Securities (TruPS), 22 Democratic members of the Financial Services Committee have expressed their support for providing important regulatory relief to the community banking sector while preserving strong… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement upon the confirmation of Janet Yellen as Chairman of the Board of Governors of the Federal Reserve.
“In confirming Janet Yellen, the U.S. Senate has not only made history, but has put in place a Federal Reserve leader… Read more »
A coalition of Democratic lawmakers on the House Financial Services Committee today called on the Federal Trade Commission (FTC) to review the online marketing practices of nationwide Consumer Reporting Agencies, or CRAs. Specifically of concern are the offers of purported “free” services that often put consumers at risk of inadvertently purchasing expensive products and services, such as… Read more »
Congresswoman Maxine Waters (D-CA) Ranking Member of the House Financial Services Committee, today congratulated Donna Gambrell, Director of the Community Development Financial Institutions Fund (CDFI Fund), on her 37 years of public service. Gambrell recently announced her retirement, effective on December 28, 2013.
Waters released the following statement:
“For six years, Donna… Read more »
Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to the release of the Federal Housing Administration’s fiscal year 2013 Annual Report:
“Although the Federal Housing Administration is not completely out of the woods, today’s numbers show crucial improvements in its solvency and stability. FHA’s Mutual… Read more »
At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters discussed the issue of growing income inequality and called for action by increasing the minimum wage, extending unemployment insurance, and providing trade adjustment and other assistance for those in the U.S. clustered in the low-skill end, who are disadvantaged by globalization. She… Read more »
