At a Financial Services Committee markup of six bills designed to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee, blasted the measures as efforts to weaken CFPB’s ability to be an effective, independent advocate for consumers.
Waters highlighted the CFPB’s remarkable record of success in just over two years,… Read more »
Today, at a hearing to examine the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, asked FEMA administrator Craig Fugate tough questions about its implementation of the NFIP, and why he had not notified lawmakers of dramatic rate increases that many are experiencing as a result of changes to the Program.… Read more »
As the House and Senate work to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico, three leading House Democratic lawmakers called on Senate Majority Leader Harry Reid (D-NV) to reject House Republican efforts to waive a provision in the Dodd-Frank Wall Street Reform and Consumer… Read more »
Waters, Warren, Cummings Call on OCC, Fed to Release Information on Mortgage Servicing Settlement
strongIn the absence of a long-promised public report, leading Democratic Members of Congress have called on federal regulators to disclose critically important information related to the Independent Foreclosure Review (IFR) process for 14 mortgage servicers and the $9.3 billion settlement… Read more »
WASHINGTON — Democratic lawmakers on Monday urged regulators to keep their promise to release a report by the end of the year that details an independent review of millions of borrowers who faced foreclosure.
In a letter to Federal Reserve Board Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry, Sen. Elizabeth Warren, Rep. Maxine Waters and Rep. Elijah Cummings said a… Read more »
A trio of top Democrats are urging federal regulators to release details about their decision to end a foreclosure review process in favor of a nearly $10 billion settlement.
Reps. Maxine Waters(Calif.) and Elijah Cummings (Md.) along with Sen. Elizabeth Warren (Mass.) sent a letter on Monday that "in the absence of a long-promised public report" about the Independent Foreclosure… Read more »
Financial Services Committee Holds Markup of Five Bills
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following remarks as part of a Committee markup on five pieces of legislation aimed to assist small businesses and provide relief to small financial institutions.
In her statement, Waters applauded the… Read more »
Financial Services Subcommittee Holds Hearing on TRIA Program
Today, at a Committee on Financial Services’ Housing and Insurance Subcommittee hearing, Ranking Member Maxine Waters (D-CA) called for the quick, clean and long-term renewal of the Terrorism Risk Insurance Act, known as TRIA.
At the hearing, entitled “The Future of Terrorism Insurance: Fostering Private Market Innovation to… Read more »
Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, has been named a 2013 “Woman of Influence” by HousingWire, a leading news outlet covering the U.S. housing economy, spanning mortgage lending, servicing, investments and real estate operations.
Waters was recognized for her efforts to ensure American families are provided adequate consumer… Read more »
Outlines priorities for new sovereign debt restructuring framework
Today, at a Capitol Hill briefing on “Responsible Lending and Borrowing and the Impact of Holdout Creditors for the Extreme Poor,” Congresswoman Maxine Waters, in a statement, called for the establishment of a formal, institutionalized, and politically recognized mechanism for restructuring the debt of bankrupt… Read more »
Calls for principal reduction, more equal access to market
After several critical years in the wake of the housing meltdown, the market recovery is continue to take shape.
However, the recovery could be much stronger if housing reform sees immediate action, specifically the pursuit of more widespread principal reduction, which would provide the best return for taxpayers, argues Rep.… Read more »
Upon news of the passing of D. Michael ‘Mickey’ Collins, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement.
“I am deeply saddened to hear of the passing of D. Michael ‘Mickey’ Collins. From 1999 until earlier this year, Mickey was a tireless advocate at the Federal Deposit Insurance Corporation (FDIC) for diversity in the… Read more »
Congresswoman Maxine Waters, D-Calif., is not one to shy from a fight. And when it comes to supporting minority rights to affordable housing and responsible lending, Waters can get downright vicious.
Take the CFPB’s extensive regulatory changes coming in January. It’s going to be tough enough to get rolling on the new marching orders. But to Waters, it’s just the start.
“The… Read more »
Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in reaction to the failure of the U.S. Senate to invoke cloture on Melvin L. Watt as Director of the Federal Housing Finance Agency.
“I am extremely disappointed that the U.S. Senate has blocked the nomination of Mel Watt to head the Federal Housing Finance Agency. Mel… Read more »
The nomination of Rep. Mel Watt to be the regulator for housing finance giants Fannie Mae and Freddie Mac failed a key procedural vote Thursday because of strong Republican opposition..
President Obama nominated Watt, a veteran Democrat from North Carolina, in May to be director of the Federal Housing Finance Agency.
But attempts to bring his nomination to a vote by the full Senate… Read more »
At a press conference calling on the U.S. Senate to confirm Melvin L. Watt as Director of the Federal Housing Finance Agency, Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in strong support.
“I am pleased that the U.S. Senate is moving forward with the nomination of Representative Mel Watt to head the Federal… Read more »
Congresswoman Maxine Waters (D-CA) and Former Representatives Barney Frank today released the statements in opposition to H.R. 992, the Swaps Regulatory Improvement Act. Waters led opposition on the House Floor and expressed her concerns about weakening of Dodd-Frank reforms before regulators have completed them.
Waters stated:
“The financial crisis of 2008 wreaked untold havoc on the… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing on the Federal Housing Administration’s reserves shortfall:
As prepared for delivery:
Thank you, Mr. Chairman.
Commissioner Galante, I am very pleased you have appeared before this committee today.
I would like to applaud… Read more »
On the one year anniversary of Superstorm Sandy, a broad, bipartisan coalition of over 80 Members of the House of Representatives have introduced a legislative solution to fix the National Flood Insurance Program (NFIP) and ensure changes are implemented affordably.
The legislation, led by Representatives Maxine Waters (D-CA), Michael Grimm (R-NY) and Cedric Richmond (D-LA), calls for a… Read more »
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today released the following statement regarding her opposition to H.R. 2374, the Retail Investor Protection Act. Waters led opposition on the House Floor and expressed her concerns about how the deceptively-titled legislation would undermine protections for those trying to save for retirement.… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, has announced a bipartisan legislative solution to fix the National Flood Insurance Program (NFIP) and ensure changes are implemented affordably. In essence, the legislation calls for a four-year delay to the program and requires FEMA to complete an affordability study and propose regulations that… Read more »
WASHINGTON — With the leading House Republican plan to overhaul the mortgage finance market stuck in limbo, several Democrats have begun work on alternative proposals that could further divide support for the GOP bill.
Rep. Jeb Hensarling, chairman of the House Financial Services Committee, introduced his legislation to unwind Fannie Mae and Freddie Mac and remove a government backstop… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to news that the U.S. Export-Import Bank generated a profit of more than $1 billion in fiscal year 2013, which was reported on Wednesday:
“I am very pleased with yesterday’s news that the Export-Import Bank has delivered more than $1 billion in revenue… Read more »
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to news that the Commodities Future Trading Commission will be forced to furlough personnel for as many as 14 days in 2014 because of cutbacks in funding due to the sequester:
“I’m deeply troubled, though not surprised, to learn that the Commodity… Read more »
In the wake of massive money laundering scandals at U.S. banks that allowed terrorist, drug and other illicit money to flow through the economy, two leading Democratic lawmakers introduced two measures to crack down on misconduct and help clean up the system.
Rep. Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Rep. Carolyn Maloney (D-NY), the… Read more »
