Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full committee hearing this week entitled, “When Banks Leave: The Impacts of De-Risking on the Caribbean and Strategies for Ensuring Financial Access.” The hearing kicked off with a historic testimony from Barbados Prime Minister, Mia Amor Mottley, on the harmful effects of de-risking and important solutions to consider. Prime Minister Mottley’s testimony in front of the House Financial Services Committee marked the first time in nearly 40 years that a Prime Minister had testified before Congress, and underscores the urgency the Committee, under the leadership of Chairwoman Waters, is approaching this situation.

Here is Chairwoman Waters’ opening statement.

Here is a clip from Prime Minister Mia Mottley’s testimony.

See photos below:

The Prime Minister’s testimony was followed by a panel of experts who shared their perspectives on de-risking in the region and offered critical solutions.

Yesterday’s hearing follows the roundtable organized by Chairwoman Waters and Prime Minister Mottley earlier this year aimed at identifying solutions to combat de-risking in the Caribbean. Watch the full hearing here.

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