Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released a statement applauding President Biden’s nomination of Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson to serve as Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury.

“I applaud President Biden for his decision to nominate CFTC Commissioner Kristin Johnson to serve as Assistant Secretary for Financial Institutions at the Treasury Department following my letter recommending the Commissioner to the post. As President Biden continues to build on the historic success of our nation’s economy, it’s clear that Commissioner Johnson is the best person to help lead the effort on financial institutions at Treasury. During her tenure at the CFTC and throughout her career, Commissioner Johnson has not only demonstrated a breadth of experience on these issues, but also a deep commitment to promoting financial stability, advocating for strong consumer protections, supporting community financial institutions including community development financial institutions and minority depository institutions that provide financial access to underserved communities, and holding bad actors accountable for activities that harm consumers.

“Additionally, as we continue to navigate the complexities of emerging technologies like Artificial Intelligence, Commissioner Johnson’s leadership and expertise will help to ensure we are developing rules that mitigate algorithmic biases. Moreover, as I have always said: diversity is key to a strong economy, and I am extremely confident that Commissioner Johnson’s perspective as a woman of color will help to provide invaluable guidance as we work to build an economy that works for everyone.

“I urge the Senate to move swiftly to confirm Commissioner Johnson's nomination so that she can help the Administration continue this crucial work without delay."

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