Member Spotlight

Congressman Al Green (D-TX)

Congressman Al Green (D-TX) is the Chair of the Subcommittee on Oversight and Investigations. Representative Green also serves on the Subcommittee on Consumer Protection and Financial Institutions and the Subcommittee on Housing, Community Development and Insurance.

Weekend Reads

DSNews | House Passes Measure to Increase Financial Equity and Inclusion for All
The New York Times | Interest Rates Rise Around the World, as War and High Inflation Grind On
The New York Times | Federal Reserve Takes Swing at Inflation With Largest Rate Increase Since 1994
The Hill | Dems eye marijuana bill as vehicle for justice measures
The Washington Post | We’re still not in a recession despite the stock market drop
The Hill | Home equity in US hits record $27.8 trillion

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Waters Announces Updates to June Committee Schedule

This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following updates to the schedule for the month of June:

POSTPONED - Subcommittee on Consumer Protection and Financial Institutions will convene for a hybrid hearing entitled, “Better, Together: Examining the Unified Proposed Rule to Modernize the Community Reinvestment Act.”
RESCHEDULED - Wednesday, June 22 at 10:00 AM ET (and subsequent days if necessary): The full Committee will convene for a hybrid markup.
Thursday, June 23 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “Monetary Policy and the State of the Economy.”
Tuesday, June 28 at 12:00 PM ET: The Subcommittee on Oversight and Investigations will convene for a virtual hearing entitled, “Where Have All the Houses Gone? Private Equity, Single Family Rentals, and America’s Neighborhoods.”
Wednesday, June 29 at 12:00 PM ET: The full Committee will convene for a virtual hearing entitled, “Boom and Bust: Inequality, Homeownership, and the Long-Term Impacts of the Hot Housing Market.”
Thursday, June 30 at 12:00 PM ET: The Task Force on Financial Technology will convene for a virtual hearing entitled, “Combatting Tech Bro Culture: Understanding Obstacles to Investments in Diverse-Owned Fintechs.”

Waters Leads Committee Democrats on House Passage of Historic Racial Equity Bill to Provide Overdue Mortgage Assistance, Lending and New Opportunities to Communities of Color

This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the passage of her bill H.R. 2543, The Financial Services Racial Equity, Inclusion, and Economic Justice Act, in the House by a vote of 215-207. Congresswoman Waters, the first woman and African American to chair the Committee on Financial Services, led Committee Democrats on a historic piece of legislation on racial equity in mortgages, lending, and investments. The bill holds banks, corporations, and financial institutions accountable for denying access to capital to millions. Chairwoman Waters was assisted by Congressman Al Green (D-TX), when she could not be present.”

“This indeed was history in the making, this legislation will change the lives of millions. Too often we have seen families denied mortgages, loans, and rules by government agencies that were established to ensure fairness and equity in financial services. The lack of fairness in lending have prevented communities of color from homeownership, small business development, fair pricing, and protection by the government. As banks close in small towns and cities across this country, low-income communities and communities of color are cut off from access to capital. Two years ago, we witnessed pledges made by banks and corporations in the aftermath of the murder of George Floyd, pledges that promised diversity at the highest levels and capital to promote equity. However, to this day many of those pledges remain unfulfilled.

“So, I am so pleased that the House passed my landmark bill, H.R. 2543, ‘The Financial Services Racial Equity, Inclusion, and Economic Justice Act,’ a bill that includes provisions led by myself and Members of my Committee, including Representatives Meeks, Green, Cleaver, Beatty, Garcia of Texas, Torres, and Auchincloss…”

Read Chairwoman Waters’ full statement HERE.

Chairwoman’s Corner