This week, Congresswoman Maxine Waters (D-CA), the top Democrat of the House Financial Services Committee, was recognized with the 2024 Trailblazer Award by the Financial Services Professionals organization. This prestigious award acknowledges Members of Congress who have demonstrated exceptional dedication to fostering the advancement of Black professionals within the financial services sector.
Throughout her tenure, Congresswoman Waters has been at the forefront of initiatives aimed at promoting diversity and inclusion, while advocating for equitable access to financial opportunities for underserved communities nationwide and in her district of Los Angeles.
As the first Black and first woman Chair of the House Financial Services Committee and now the top Democrat on this Committee, expanding diversity and inclusion in the financial services industry has been a key priority for Rep. Waters. Some notable achievements include:
Establishing Congress’ first-ever Subcommittee on Diversity and Inclusion in 2019. This Subcommittee held 18 hearings and released three major reports to expose inequities in America’s housing and financial services systems, tackle the widening racial-wealth gap, and push corporate America to take diversity and inclusion seriously.
Establishing the Office of Minority and Women Inclusion at America’s financial regulators to oversee and facilitate diversity and inclusion efforts.
Successfully codifying the Minority Business Development Agency during the last Congress. This marked a significant milestone in supporting the growth and competitiveness of minority-owned businesses.
Convening hearings with the nation's biggest banks and compelling them to address their efforts in promoting racial equity, resulting in significant policy reforms within their institutions.
Securing a $60 billion set-aside for community financial institutions, including minority depository institutions and community development financial institutions, to provide vital support to underserved small businesses during the pandemic.
Passing the Minority Business Resiliency Act of 2021 (H.R. 2689) into law through the Infrastructure Investment and Jobs Act, ensuring the continued promotion and administration of programs aiding the development of minority-owned enterprises.
