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 Waters Challenges Hensarling to Negotiate on Export-Import Bank

 

Democrats Unite as GOP Fractures

WASHINGTON, D.C. – In the aftermath of a divisive Export-Import Bank hearing for the Republican Party, Congresswoman Maxine Waters (D-CA) called on Financial Services Committee Chairman Jeb Hensarling (R-TX) to heed the calls of his Republican caucus and strike a deal on the Bank.

“It is clear from yesterday’s hearing that not only does a majority of the House of Representatives support renewing the Export-Import Bank’s charter, but so does a majority of Chairman Hensarling’s own Committee,” said Rep. Waters, Ranking Member of the Financial Services Committee.

“I was heartened to hear so many Republicans talk about the Bank’s positive impact on job creation, economic growth and American competitiveness. I welcome the opportunity to work together to preserve the Bank for the long term – including any reforms that may be necessary. Following yesterday’s hearing, I wonder if Chairman Hensarling’s own position is beginning to soften.”

Yesterday’s hearing showed widespread bipartisan support for the renewal of the Bank, with several Republicans publically siding against Chairman Hensarling in touting its importance.

The Chairman’s own comments on the Bank appeared to be a departure from his previous statements that it is time to “exit the Ex-Im,” stating at the hearing “now I will admit that Republicans may disagree on whether Ex-Im should be reformed or allowed to expire, and I certainly hope this hearing will help illuminate that decision. But we are united in believing we cannot reauthorize the status quo.”

On a pivotal day for the Bank, the demonstrated support was encouraging. In addition to positive statements by Republicans on the Committee,  Senate Minority Leader Mitch McConnell expressed his support for a floor vote on the Bank’s renewal. This comes following news that 41 Republicans signed a letter calling on House leaders to take action on a multi-year reauthorization of the bank, including five Republicans on the Committee.

Also yesterday, Texas Governor Rick Perry expressed his support for the Bank’s renewal, saying “To unilaterally disarm by not reauthorizing the Ex-Im Bank puts American companies at a disadvantage in their ability to compete in the global marketplace, will cost jobs and will drive up prices for American made goods.”

Extending the Bank’s charter has also seen an outpouring of support from small businesses, labor, manufacturing and business. And legislation introduced yesterday by Reps. Denny Heck (D-WA) and William Lacy Clay (D-MO) already has 202 Democratic cosponsors.

Waters added, “With the Export-Import Bank’s expiration less than three months away, now is the time for pragmatic, serious conversations about extending the Bank’s charter. It’s time for Republican leadership to put the extremist rhetoric aside and take real action to support American job creators against foreign competitors. We have the support, and we have the votes. By stalling, all we are doing is hurting job creation and penalizing American businesses with continued uncertainty.” 

 

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In The News

Spending Bill Should Omit Changes to CFPB, Waters Says, American Banker
Wednesday, July 9, 2014

Waters blasts GOP opposition to bank, The Hill
Wednesday, June 25, 2014

House Democrats push for Ex-Im Bank, Politico
Tuesday, June 24, 2014

Waters blasts McCarthy over change in Ex-Im stance, The Hill
Tuesday, June 24, 2014

Waters Presses CFTC on Overseas Derivatives, American Banker
Friday, June 13, 2014

Waters: CFTC should look closely at foreign derivative deals, The Hill
Friday, June 13, 2014

G.A.O. Report Sees Deeper Bank Flaws in Foreclosures, New York Times
Monday, April 28, 2014

Senators strike deal on terrorism insurance extension, The Hill
Thursday, April 10, 2014

How Waters' Bill Could Shift GSE Debate, American Banker
Tuesday, April 1, 2014

Waters offers her own housing overhaul, The Hill
Thursday, March 27, 2014

Waters Releases GSE Reform Bill to Unwind Fannie, Freddie, American Banker
Thursday, March 27, 2014

Proposed Housing Bill Would Create a Co-op of Mortgage Lenders, New York Times
Wednesday, March 26, 2014

What Jeb Hensarling doesn’t know from compromise, Politico
Tuesday, March 11, 2014

GOP, Waters reach deal on flood bill, The Hill
Tuesday, March 4, 2014

Divided Republicans turn to Rep. Waters, The Hill
Wednesday, February 26, 2014

Lawmaker Urges U.S. Regulators to Scrutinize Mortgage Servicers, New York Times
Wednesday, February 19, 2014

House Dems push for hearing on Ex-Im Bank reauthorization, The Hill
Friday, February 7, 201

Dems on Financial Services push for poverty hearings, The Hill
Tuesday, January 14, 2014

Top House Democrats Call for Investigative Hearing on Target Breach, American Banker
Monday, January 13, 2014

Top Democrats Demand Answers on Independent Foreclosure Review Process Democrats Call on Regulators to Report on Foreclosure Review, American Banker
Monday, November 18, 2013

Congressional Democrats press for details of foreclosure review program, The Hill
Monday, November 18, 2013

13 Women of Influence, HousingWire Magazine
Friday, November 1, 2013

Maxine Waters places housing reform on chopping block, HousingWire
Monday, November 4, 2013

Republicans block nomination of Mel Watt to be key housing regulator, Los Angeles Times
Thursday, October 31, 2013

Rep. Maxine Waters rolls out aggressive national flood insurance repair program, HousingWire
Monday, October 28, 2013

New GSE Proposals Could Splinter House GOP, American Banker
Friday, October 25, 2013

CFTC to Furlough Workers After Collecting $1.7 Billion, Bloomberg
Thursday, October 24, 2013

Waters, Maloney Bills Crack Down On Money Laundering, American Banker
Thursday, October 24, 2013

House Dems push for tough rules against money laundering,I
Thursday, October 24, 2013

Congressional bill could end ‘too big to jail’ for bankers, South Florida Business Journal
Thursday, October 24, 2013

New Anti-Money Laundering Bill Targets Bank Executives, The Wall Street Journal
Wednesday, October 23, 2013

US Congress moves to tighten money laundering laws, Financial Times
Wednesday, October 23, 2013

New effort to reform US mortgage banks, Financial Times
Thursday, October 17, 2013

Lawmakers’ resolution asks financial institutions to aid federal workers, Washington Post
Monday, October 14, 2013

Waters lines up panel on default consequences, The Hill
Monday, October 14, 2013

Lawmakers sound alarm on reducing loan limits, HousingWire
Friday, October 11, 2013

Group begins campaign to stop Janet Yellen's confirmation as Fed chair, Los Angeles Times
Friday, October 11, 2013

Waters to Release Rival GSE Bill, American Banker
Monday, September 10, 2013

Yellen Nomination Sparks Hope for 'More Transparency, Credit Union Times
Wednesday, October 9, 2013
 

The Mellowing of Maxine Waters, New York Times
Saturday, May 11, 2013 

U.S. Rethinks Use of Consultants in Reviews of Foreclosure Abuses, The Wall Street Journal
Wednesday, April 11, 2013 

Government Watchdog Faults Regulators Over Foreclosure Review, New York Times
Wednesday, April 3, 2013 

GAO finds shortcomings in foreclosure review process, criticizes regulators, The Hill
Wednesday, April 3, 2013

Waters calls for funds to rehab foreclosed property, The Hill
Friday, March 22, 2014 

House Dems reintroduce measure to bolster housing finances, The Hill
Thursday, March 14, 2014
 

Fighting "Too Big To Jail", US News and World Report
Friday, March 8, 2013

Waters Growing 'Impatient' with Implementation of Dodd-Frank Diversity Standards, American Banker
Tuesday, March 5, 2013

Rep. Waters: Regulator Needs Plan on ‘Forced’ Insurance, The Wall Street Journal 
Thursday, February 28, 2013

Banks Face Setback as FHFA Bans Force-Placed Commissions, American Banker
Thursday, February 28, 2013
 

House Banking Panel Clashes Over Future of FHA, American Banker
Wednesday, February 6, 2013

Maxine Waters Urges Congress To Investigate Foreclosure Settlement, Huffington Post
Tuesday, February 5, 2013 

Waters Requests Hearing On Latest Mortgage Settlement, American Banker
Tuesday, February 5, 2013
 

Waters pressing for hearing on end of foreclosure review program, The Hill
Tuesday, February 5, 2013
 

Warren, Waters Seek Answers on Mortgage Servicer Settlement, American Banker
Thursday, January 31, 2013

Elizabeth Warren, Elijah Cummings, Maxine Waters Call For More Transparency On Failed Foreclosure Reviews, Huffington Post
Thursday, January 31, 2013

Hensarling, Waters Already at Odds Over TBTF,  American Banker
Friday, January 25, 2013

Waters to defend Dodd-Frank from efforts to weaken the law, BankCreditNews.com
Friday, January 18, 2013

AIG Backs Off Suit Over Bailout After Public Outrage, International Business Times
Wednesday, January 9, 2013

 

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