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Waters Statement on the National Defense Authorization Act for FY 21

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following statement regarding the inclusion of several Democratic financial services measures in the William (Mac) Thornberry National Defense Authorization Act (NDAA) for Fiscal Year 2021, for which she served as a conferee. Today, the House of Representatives approved the legislation with a vote of 335-78

Mr. Speaker, I rise in support of the William (Mac) Thornberry National Defense Authorization Act (NDAA) for Fiscal Year 2021, for which I served as a conferee.   

For several months, I have worked with my House and Senate counterparts to include ten measures authored by Democratic Members of the Financial Services Committee within the NDAA. These bills would help to protect the U.S. financial system, provide more remedies to investors who were deceived by corporate wrongdoers, expand access to housing assistance for our veterans, and direct the incoming Biden-Administration to use its full authority to help relieve the student debt crisis.  

For years, the issue of shell companies has been ignored by this Congress. This is why one of the first actions I took as chair of the Committee was to move legislation to prevent bad actors from using shell companies to hide their activities, a provision I have been fighting for, for over a decade, and I am very pleased it is included in the Conference agreement. I would also like to thank Mrs. Maloney of New York for her tireless work on this provision, and the Members and the many outside stakeholders for their work on all the measures included in the legislation.  

I am also pleased to see the Conference report reflect my work and progress ensuring that technologies procured for by the Department of Defense are ethically and responsibly screened for potential bias.   

On December 3, 2020, Chairwoman Waters issued a statement following the inclusion of ten Democratic financial services measures in the NDAA for FY 21. 

On November 19, 2020, Chairwoman Waters gave a statement after securing the inclusion of provisions on beneficial ownership, preventing money laundering, and combatting international corruption in the NDAA for FY 21.


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