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Waters Opening Statement at Full Committee Hearing on the Treasury Department’s and Federal Reserve’s Pandemic Response
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.”
Welcome back, Secretary Yellen and Chair Powell.
As this pandemic continues, the Biden Administration and Congressional Democrats continue to work around the clock to get essential relief to individuals, families, and small businesses across the country.
Following the catastrophic failure of the Trump Administration to tackle the pandemic crisis, the Biden Administration and Democrats in Congress swiftly moved to enact the American Rescue Plan, which provided $1.9 trillion to address the impacts of COVID-19. The legislation included billions in funding to support individuals and families, including renters, homeowners, and people experiencing homelessness, as well as small businesses during this crisis. We are also working together to put President Biden’s Build Back Better agenda into action by making long overdue investments into the nation’s housing programs, childcare, education, workforce and other critical aspects of our economy all while being completely paid for.
Democrats are also working to address the past failures of the Trump Administration’s approach to the pandemic. For example, we are working with Secretary Yellen and the Treasury Department to correct administratively burdensome requirements initiated by Republicans that made it harder for renters and landlords to obtain relief in the earlier versions of the Emergency Rental Assistance program....
Read Chairwoman Waters’ full opening statement HERE.
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Subcommittee Hearings
Representative Joyce Beatty (D-OH) delivers her opening statement at this week’s Subcommittee on Diversity and Inclusion hearing on eliminating barriers and increasing opportunity for justice-involved individuals.
Dolfinette Martin, Housing Director of Operation Restoration, testified at this week’s Diversity and Inclusion Subcommittee hearing about her challenges securing stable and safe housing.
Representative Ed Perlmutter (D-CO) delivers his opening statement at this week’s Subcommittee on Consumer Protection and Financial Institutions hearing examining how bank industry consolidation impacts employees, consumers, and small businesses.
Tweets of the Week
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Member Spotlight
| Congressman David Scott (D-GA) |
Congressman David Scott (D-GA) serves on the Subcommittee on Consumer Protection and Financial Institutions and the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets.
Representative Scott asks questions at this week’s Subcommittee on Consumer Protection and Financial Institutions hearing.
WATCH a video clip of Representative Scott’s remarks and questions on Twitter.
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Weekend Reads
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October Committee Calendar
- October 5 at 12:00 PM ET: The full Committee will convene for a virtual hearing entitled, “Oversight of the U.S. Securities and Exchange Commission: Wall Street’s Cop Is Finally Back on the Beat.”
- October 12 at 12:00 PM ET: The Subcommittee on Housing, Community Development and Insurance will convene for a virtual hearing entitled, “Zoned Out: Examining the Impact of Exclusionary Zoning on People, Resources, and Opportunity.”
- October 13 at 12:00 PM ET: The Task Force on Artificial Intelligence will convene for a virtual hearing entitled, “Beyond I, Robot: Ethics, Artificial Intelligence, and the Digital Age.”
- October 14 at 12:00 PM ET: The Subcommittee on Oversight and Investigations will convene for a virtual hearing entitled, “Cashed Out: How a Cashless Economy Impacts Disadvantaged Communities and Peoples.”
- October 20 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “The State of the International Financial System and U.S. Participation in the International Financial Institutions.”
- October 21 at 10:00 AM ET: The full Committee will convene for a hybrid markup.
- October 26 at 10:00 AM ET: The Subcommittee on Investor Protection, Entrepreneurship and Capital Markets will convene for a hybrid hearing entitled, “Taking Stock of ‘China, Inc.’: Examining Risks to Investors and the U.S. Posed by Foreign Issuers in U.S. Markets.”
- October 27 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “Bringing Consumer Protection Back: A Semi-Annual Review of the Consumer Financial Protection Bureau.”
All hearings are livestreamed on https://democrats-financialservices.house.gov/live/.
For virtual hearings, all Members and witnesses participate remotely with no in-person participation in the hearing room. Hybrid hearings will take place in 2128 Rayburn House Office Building with a virtual option for all Members and witnesses to participate remotely.
Committee activities are finalized once an official notice is issued by the House Financial Services Committee.
Visit https://democrats-financialservices.house.gov/calendar/ for the most up-to-date Committee schedule.
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Chairwoman’s Corner
Waters Applauds Rohit Chopra’s Confirmation as Director of CFPB
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB).
“There is no better person to lead the Consumer Financial Protection Bureau at this time than Rohit Chopra, who helped establish the foundation for the CFPB in the aftermath of the 2008 financial crisis. In 2011, he joined the agency and served as the first Student Loan Ombudsman, working tirelessly to protect student borrowers. More recently, as a Commissioner on the Federal Trade Commission, he has fought for consumers against predatory actors and helped to scrutinize anti-competitive industries, like Big Tech.
“At a time when consumers need a strong watchdog, Mr. Chopra will be an advocate for working families. So, I congratulate Mr. Chopra on his confirmation and as Chairwoman of the Financial Services Committee, I look forward to working with him closely to better protect consumers.”
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