Last week, the Subcommittee on Housing, Community Development, and Insurance convened a field hearing entitled, “A Matter of Life and Death: Improving Fire Safety in Federally Assisted Housing.” The field hearing took place at the Hall of Fame Roscoe Brown Student Center Playhouse, Bronx Community College and focused on the Subcommittee legislation put forth in response to the January 9, 2022 Twin Parks North West apartment building fire in Bronx, New York.
Watch the full hearing HERE.
Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau
This week, the full Committee convened a hearing entitled, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.” This hearing reviewed the CFPB’s most recent report and other activities since October 2021, when CFPB Director Rohit Chopra last testified before the Committee.
Read Chairwoman Waters’ full statement HERE.
Oversight of the Financial Crimes Enforcement Network
This week, the full Committee convened a hybrid hearing entitled, “Oversight of the Financial Crimes Enforcement Network.” Established in 1990, FinCEN is a bureau within the U.S. Department of the Treasury that is responsible for “safeguard[ing] the financial system from illicit use, combat[ing] money laundering and its related crimes including terrorism, and promot[ing] national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence.
Watch the full Committee hearing HERE.
What’s in Your Digital Wallet? A Review of Recent Trends in Mobile Banking and Payments
This week, the Task Force on Financial Technology convened a hybrid hearing entitled, “What’s in Your Digital Wallet? A Review of Recent Trends in Mobile Banking and Payments.” This hearing examined trends in mobile banking and payments, the current landscape of digital wallets, and their impact on users.
Watch the Task Force hearing HERE.
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Chairwoman’s Corner
Waters Statement on Appointment to Conference Committee for America COMPETES Act
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement after being named a Member of the House who will go to conference with the Senate over the House’s America COMPETES Act of 2022:
“I am pleased to be appointed by Speaker Pelosi as a member of the conference committee for the America COMPETES Act of 2022. This bipartisan, bicameral piece of legislation strengthens the competitiveness of the U.S. economy and businesses, requires the federal government to work with Congress to ensure the safety and security of America’s and our allies’ economies, and counters anti-competitive actions taken by China.
“My Committee colleagues and I have authored several provisions that are key to achieving these goals. Among other things, this includes provisions that would leverage U.S. interests in multilateral development banks to respond to predatory loan arrangements of China, provide debt relief to developing countries, strengthen anti-money laundering authorities at the Treasury Department and bolster the U.S. response to the COVID-19 pandemic..”
Read Chairwoman Waters’ full statement HERE.
