Chairwoman Waters Announces September Hearing Schedule

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following virtual and hybrid hearings for the month of September:

• September 8 at 12:00 PM – The Subcommittee on Diversity and Inclusion will convene for a virtual hearing entitled, “Holding Financial Regulators Accountable for Diversity and Inclusion: Perspectives from the Offices of Minority and Women Inclusion.”
  
  
• September 10 at 12:00 PM – The full Committee will convene for a virtual hearing entitled, “The Need for Financial Aid to America’s States and Territories During the Pandemic: Supporting First Responders, Assisting Schools in Their Efforts to Safely Educate, and Preventing Mass Layoffs.”
  
  
• September 16 at 12:00 PM – The full Committee will convene for a virtual hearing entitled, “Prioritizing Fannie’s and Freddie’s Capital over America’s Homeowners and Renters? A Review of the Federal Housing Finance Agency’s Response to the COVID-19 Pandemic.”
  
  
• September 17 at 12:00 PM – The Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets will convene for a virtual hearing entitled, “Insider Trading and Stock Option Grants: An Examination of Corporate Integrity in the Covid-19 Pandemic.”
  
  
• September 22 at 10:30 AM – The full Committee will convene for a hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.”
  
  
• September 24 at 12:00 PM – The Subcommittee on National Security, International Development, and Monetary Policy will convene for a hybrid hearing entitled, “An Examination of the Administration’s Implementation of Statutory Reforms to the Committee on Foreign Investment in the United States.”
  
  
• September 29 at 12:00 PM – The Task Force on Financial Technology will convene for a virtual hearing entitled, “License to Bank: Examining the Legal Framework Governing Who Can Lend and Process Payments in the Fintech Age.”
  

All hearings will be livestreamed on https://democrats-financialservices.house.gov/live/.

See the full text of the release here.

Chairwoman Waters Calls on FHFA to Scrap Unnecessary Refinance Penalty

On Wednesday, Chairwoman Maxine Waters, issued the following statement following the Federal Housing Finance Agency’s (FHFA) announcement that it would delay its recently announced adverse market fee for refinance mortgages:.

“Just two weeks ago, Director Calabria approved an outrageous penalty, in the middle of a pandemic and an economic recession, that would apply to homeowners looking to use today’s historically low mortgage rates to refinance their mortgages and reduce their mortgage payments. Now, after bipartisan backlash, Director Calabria is attempting to save face by delaying the penalty until December 1st and then only providing very narrow exemptions moving forward. While this delay will buy homeowners looking to refinance some time, at the end of the day, the vast majority of homeowners will still pay the penalty and homeowners in higher cost areas like Los Angeles will disproportionately be excluded from the narrow exemptions provided. I am calling on Director Calabria to terminate this penalty altogether, not just delay it.”

See the full text of the statement here.

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