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  • Trump’s 100 Days: Broken Promises to Main Street, Giveaways to Wall Street
    Posted in Press Releases on April 29, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act

    After just 100 days in office, President Trump has undermined the economic security of the middle class and hardworking Americans by beginning to roll back financial regulations and putting reckless policies in place. The list below recounts Trump’s broken promises, threatening consumers, investors, and the economy at large: On the first day of his administration, Trump suspended a reduction to Federal Housing Administration (FHA) mortgage insurance premiums, which would have saved homeowners $5... Read more

  • ICYMI: Wave of Opposition to the Wrong Choice Act
    Posted in Press Releases on April 29, 2017 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act

    This week, Committee Democrats led a Minority Day Hearing on the many problems with Chairman Hensarling’s Wrong Choice Act, a bill that would repeal the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and put America on the road to another financial crisis. The hearing, which featured testimony from Senator Elizabeth Warren and other experts and community advocates, comes amid a wave of opposition to the bill. To date, over 130 groups have submitted lette... Read more

  • Waters Slams the Wrong Choice Act During Historic Minority Day Hearing
    Posted in Press Releases on April 28, 2017 | Preview rr

    Today, at the historic Minority Day Hearing of the House Financial Services Committee, Ranking Member Maxine Waters (D-CA) delivered the following statement: As Prepared for Delivery Thank you, Mr. Chairman, and thank you to the witnesses for joining us today, especially Senator Elizabeth Warren, who created the idea of the Consumer Financial Protection Bureau, and gave the force behind making it a reality. Earlier this week, the Majority held a hearing during which their witnesses shared so man... Read more

  • Media Advisory: Committee Democrats to Hold Hearing on the Wrong Choice Act
    Posted in Press Releases on April 27, 2017 | Preview rr

    On Friday, April 28, 2017, House Financial Services Committee Democrats will lead an additional hearing on H.R. 10, also known as the Wrong Choice Act. The hearing, referred to as a “Minority Day Hearing,” is the first hearing before the Financial Services Committee under the 115th Congress where Democrats can select the panel of witnesses. This hearing is historic in that the parliamentary maneuver Democrats successfully used to convene this hearing has not succeeded in the Committee in 20 year... Read more

  • Waters Pushes for Greater Anti-Money Laundering Oversight
    Posted in Press Releases on April 27, 2017 | Preview rr
    Tags: Money Laundering, International, Subcommittee on Terrorism and Illicit Finance

    Today, at a Terrorism and Illicit Finance hearing entitled “Safeguarding the Financial System from Terrorist Financing,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following statement: As Prepared for Delivery Thank you, Mr. Chairman. One of the key issues this subcommittee will be looking at is the adequacy of current information-sharing authorities and the degree to which they strike the right balance between security and civil libe... Read more

  • Waters Introduces Bill to Prohibit Trump from Exempting Big Oil from Russia Sanctions
    Posted in Press Releases on April 26, 2017 | Preview rr
    Tags: International

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined by lead cosponsors Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, and Congressman Ed Perlmutter (D-CO), Ranking Member of the Subcommittee on Terrorism and Illicit Finance, introduced the “No Russia Exemptions for Oil Production Act” (the No REX Act), which prohibits the Trump Administration from providing special licenses to companies to engage in ... Read more

  • Committee Democrats Call for an Additional Hearing on the Wrong Choice Act
    Posted in Press Releases on April 26, 2017 | Preview rr

    Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act, House Financial Services Committee Democrats, led by Ranking Member Maxine Waters (D-CA), submitted a letter to the Chairman requesting an additional hearing in order to thoroughly analyze how the legislation would impact consumers, investors, and the American economy. "Following the worst financial crisis since the Great Depression, this Committee held 41 public hearings related to financial reform ... Read more

  • Waters: Dodd-Frank Rollback Bill Would Result in Disaster
    Posted in Press Releases on April 26, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, SEC, FSOC, Federal Reserve, FDIC

    Today, at the only scheduled committee hearing to review Chairman Hensarling's Wrong Choice Act 2.0, a bill that would destroy the most important parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman, and thank you to the witnesses for being here today. There is only one explanation for why we are here d... Read more

  • Waters: On Sanctions Waivers, Trump’s Word Not Enough
    Posted in Press Releases on April 22, 2017 | Preview rr

    In response to a Trump Administration statement denying that they will issue waivers to the sanctions on Russia to authorize oil drilling, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “For months, I have sounded the alarm about Trump, his associates, their many suspicious ties to Russia and oil and gas companies, and their long game of getting sanctions on Russia lifted to line the pockets of their cronies. “The denial o... Read more

  • Waters Statement on Reports that ExxonMobil Applied for Waiver from U.S. Sanctions on Russia
    Posted in Press Releases on April 21, 2017 | Preview rr
    Tags: Money Laundering, Subcommittee on Terrorism and Illicit Finance

    WASHINGTON - In response to reports that ExxonMobil has requested special permission from the U.S. Treasury Department’s Office of Foreign Assets Control to be exempted from U.S. sanctions imposed in response to Russia’s aggression in Ukraine and its violations of international law, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “It is deeply disturbing that ExxonMobil is now seeking a waiver from the sanctions which the ... Read more

  • Waters Statement on Trump’s Executive Orders to Help Out Wall Street
    Posted in Press Releases on April 21, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act

    WASHINGTON - Today, in response to a pair of Trump Administration executive actions aimed at deregulating the financial services sector, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement. “Here we go again. When it comes time for Trump to put up or shut up on his promises to hardworking Americans, all he puts up are giveaways to his buddies on Wall Street that come at the expense of the nation’s economic security and stabilit... Read more

  • Waters Applauds Consumer Bureau for Tackling Ocwen’s Predatory Loan Practices
    Posted in Press Releases on April 21, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB

    WASHINGTON – In response to the Consumer Financial Protection Bureau’s (Consumer Bureau) lawsuit against Ocwen Financial Corporation for years of incompetent handling of mortgage accounts, Congresswoman Maxine Waters (D-CA), issued the following statement: “Enough is enough when it comes to Ocwen’s history of repeated, abusive treatment of homeowners. Their behavior is simply inexcusable, especially since homeowners don’t have the right to choose their own mortgage servicer. The executives at O... Read more

  • Waters Leads Call for Diverse Candidates in Search for Next Federal Reserve President
    Posted in Press Releases on April 18, 2017 | Preview rr
    Tags: Federal Reserve, Subcommittee on Monetary Policy & Trade

    WASHINGTON - In a letter to Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, and Margaret Lewis, Chair of the Federal Reserve Bank of Richmond Board of Directors, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, called for their commitment to replacing Federal Reserve Bank of Richmond President Jeffrey M. Lacker with an individual whose interests align with those of the American public. The lawmakers noted that one quarter of ... Read more

  • Waters: Ex-Im Opponent Scott Garrett is the Wrong Choice to Lead the Ex-Im Bank
    Posted in Press Releases on April 18, 2017 | Preview rr
    Tags: Export-Import Bank, Subcommittee on Monetary Policy & Trade

    WASHINGTON - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement opposing the pending nomination of former Representative Scott Garrett, a staunch opponent of the Ex-Im Bank, to serve as its next president: “Despite all the claims Trump made over the course of his campaign, the selection of former right-wing Representative Scott Garrett to serve as the next president of the Export-Import Bank again makes clear that he ... Read more

  • Waters: Gutting Dodd-Frank is still the Wrong Choice for America
    Posted in Press Releases on April 12, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Volcker Rule

    Today, in response to the release of details of the updated version of the “Financial Choice Act,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “The so-called Financial Choice Act is a piece of legislation that will essentially kill the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was designed to prevent another financial crisis. Republicans and Donald Trump have once aga... Read more

  • Waters Leads Fight to Defend the Flood Insurance Program, Policyholders
    Posted in Press Releases on April 7, 2017 | Preview rr
    Tags: Flood Insurance

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, delivered three letters to House appropriators in support of her ongoing effort to fight for those who have fallen victim to natural flood disasters. The letters call for a rejection of any fees on the National Flood Insurance Program’s (NFIP) policyholders in order to pay for President Trump’s U.S.-Mexico border wall, the forgiveness of NFIP’s debt, and increased funding for our nation’s flood maps. In... Read more

  • Waters Calls For Increased Funding for Federal Housing Programs in Fiscal Year 2018
    Posted in Press Releases on April 7, 2017 | Preview rr
    Tags: HUD, Budget, Homelessness

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, which oversees federal housing programs, urged her colleagues to meet the housing needs of the country’s most vulnerable populations during the federal appropriations process for fiscal year 2018. The Ranking Member proposed funding increases for a variety of federal housing programs, including the Department of Housing and Urban Development’s (HUD) McKinney-Vento Homeless Assistance Grants (McKinney-Ve... Read more

  • Waters Slams Republicans’ Abusive Practices towards the Consumer Bureau
    Posted in Press Releases on April 6, 2017 | Preview rr

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in strong opposition to Chairman Hensarling’s abuse of his unilateral subpoena power and his excessive document requests from the Consumer Financial Protection Bureau (Consumer Bureau): “The Consumer Financial Protection Bureau has not only been faithfully compliant in responding to the Chairman’s endless requests for documents, but to date they’ve produced nearly 90,0... Read more

  • Waters Continues to Fight to End Homelessness in America
    Posted in Press Releases on April 6, 2017 | Preview rr
    Tags: HUD, Homelessness

    In response to the over 500,000 homeless Americans, including 120,000 homeless children, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, along with 14 Democratic Members of Congress, introduced groundbreaking legislation that outlines a strategic plan to end homelessness. The Ending Homelessness Act of 2017 represents the solution this country needs to effectively end homelessness in America. “Homelessness is a tragic reminder of the poverty that ... Read more

  • Waters Floor Statement in Support of the Supporting America’s Innovators Act
    Posted in Press Releases on April 6, 2017 | Preview rr

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor in support of H.R. 1219, the Supporting America’s Innovators Act, a bipartisan bill that would make it easier for more angel investors to finance startup companies and small businesses: As Prepared for Delivery H.R. 1219, the Supporting America’s Innovators Act, shows just how well we can work together to craft bipartisan solutions that support our nation’s innovators and th... Read more

  • Waters Statement at Hearing on the Consumer Bureau’s Semi-Annual Reports
    Posted in Press Releases on April 5, 2017 | Preview rr
    Tags: Full Committee, CFPB

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at today's full committee hearing on the Consumer Financial Protection Bureau's (Consumer Bureau) Semi-Annual Reports to Congress with Director Richard Cordray: As Prepared for Delivery Thank you, Mr. Chairman. And thank you, Director Cordray, for joining us again to discuss the numerous ways in which the Consumer Financial Protection Bureau continues to fight for hardw... Read more

  • Waters Blasts Trump Administration Delay of Fiduciary Rule
    Posted in Press Releases on April 4, 2017 | Preview rr

    Today, in response to the U.S. Department of Labor’s announcement that it will proceed with a 60-day delay of the fiduciary rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “I am extremely displeased that the Trump Administration has delayed the fiduciary rule, which would finally protect seniors and hardworking Americans saving for retirement from unscrupulous and self-serving financial advisors. With less than ... Read more

  • Vice Ranking Member Kildee’s Floor Statement Opposing H.R. 1343
    Posted in Press Releases on April 4, 2017 | Preview rr
    Tags: House Floor

    Today, Congressman Dan Kildee (D-MI), Vice Ranking Member of the House Committee on Financial Services, spoke on the House floor in opposition to H.R. 1343: As Prepared for Delivery H.R. 1343 eliminates important disclosures that private companies must provide to their employees in the event that they’re compensating those employees with stock. This bill would limit transparency. If companies want to pay their employees in stocks, they should have to disclose to their workers the risks associate... Read more

  • Waters and 40 Democratic Members Unite in Their Fight to Protect the Consumer Bureau
    Posted in Press Releases on March 31, 2017 | Preview rr
    Tags: CFPB

    Following the D.C. Circuit granting the Consumer Financial Protection Bureau’s (Consumer Bureau) petition for rehearing en banc in the PHH case, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and 40 Democratic Members filed an amicus brief today with the D.C. Circuit Court of Appeals in support of the Consumer Bureau’s independent structure and its constitutionality. “After extensively studying the roots of this crisis…Congress established a cons... Read more

  • Waters Statement on Wells Fargo “Needs to Improve” CRA Rating
    Posted in Press Releases on March 28, 2017 | Preview rr
    Tags: OCC

    Today, in response to the Office of the Comptroller of the Currency’s issuance of a “needs to improve” rating to Wells Fargo on their Community Reinvestment Act exam, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am pleased that the Office of the Comptroller of the Currency (OCC) is finally taking action to ensure that Wells Fargo is held accountable to its responsibilities and obligations under the Community Reinvestm... Read more



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