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  • Waters Applauds Court Ruling Upholding Fiduciary Rule
    Posted in Press Releases on February 9, 2017 | Preview rr
    Tags: Department of Labor

    Today, in reaction to a court ruling from a Texas federal judge upholding the U.S. Department of Labor’s fiduciary rule, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I'm pleased to see that for the third time our courts have upheld the Department of Labor's fiduciary duty rule so that hardworking Americans planning for retirement get the protection they deserve from unscrupulous and self-serving financial advisers. Even... Read more

  • Waters: Our Plan would be Committed to Providing Greater Opportunity for Every American
    Posted in Press Releases on February 7, 2017 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act, CFPB, Markup

    Today at the House Committee on Financial Services markup of its Oversight Plan, Ranking Member Maxine Waters (D-CA) underscored Democratic priorities for the 115th session of Congress: As Prepared For Delivery Thank you, Mr. Chairman. To begin, let me say that I appreciate that there was an attempt to present this oversight plan in a straightforward and clear manner. The oversight plan – which is designed to discuss the issues this Committee will examine throughout the 115th Congress – does not... Read more

  • ICYMI: Committee Republicans Vote Down Rules to Hold Trump Administration Accountable
    Posted in Press Releases on February 4, 2017 | Preview rr
    Tags: Full Committee, Markup

    When the House Financial Services Committee met for the first time in the 115th Congress to consider its rules, Ranking Member Maxine Waters (D-CA) led Democrats in trying to force Committee Republicans to hold the Trump Administration accountable. Throughout the markup, Financial Services Democrats offered an array of amendments aimed to increase transparency and accountability and prevent conflicts of interest. Not surprisingly, all of these amendments were opposed by Republican Members. Commi... Read more

  • Waters: Trump's Changes to Wall Street Rules Will Lead to Another Crisis
    Posted in Press Releases on February 3, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, Department of Labor

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today on President Trump’s executive orders to delay the Department of Labor’s conflict of interest rule and roll back financial reforms put it place after the financial crisis of 2008. “These latest actions from the Trump administration should show the American public that Trump and his cabinet of billionaires is putting the interests of Wall Street above the needs of the ... Read more

  • Waters Encourages Chairman Hensarling to Apply His Pattern of Aggressive Oversight to the Trump Administration
    Posted in Press Releases on February 2, 2017 | Preview rr
    Tags: Markup

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, encouraged Chairman Jeb Hensarling (R-TX) to apply the same level of aggressive oversight to the Trump Administration as he did with the Obama Administration. During the Committee’s first meeting in the 115th Congress to consider its rules, Ranking Member Waters underscored her concern regarding the lack of transparency amongst Republican Committee Members, similar to the Trump Administration. Below... Read more

  • Waters Strongly Opposes Republican Effort to Reduce Transparency and Increase Corruption
    Posted in Press Releases on February 1, 2017 | Preview rr
    Tags: International

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke strongly against H.J. Res. 41, a Congressional Review Act resolution designed to roll back important anti-corruption rules. H.J. Res. 41 would repeal Section 1504 of Dodd-Frank, which requires oil, gas, and mining companies to publicly disclose payments made to foreign governments for access to their natural resources. This disclosure helps fight corruption in the extractive industries sector,... Read more

  • Waters Announces the Democratic Vice Ranking Member, Subcommittee Ranking Members, and Subcommittee Assignments
    Posted in Press Releases on January 31, 2017 | Preview rr
    Tags: Subcommittee on Housing and Insurance, Subcommittee on Financial Institutions & Consumer Credit, Subcommittee on Monetary Policy & Trade, Subcommittee on Oversight & Investigations, Subcommittee on Capital Markets, Securities, and Investment

    Today, Ranking Member Maxine Waters (D-CA) and Democrats on the House Committee on Financial Services elected their Vice Ranking Member and their Subcommittee Ranking Members. Members also selected their Subcommittee assignments for the 115th Congress.‎ The Democratic Caucus created the Vice Ranking Member position to provide more representation of the diversity of the Democratic Caucus, and strengthen its fight on behalf of hard-working Americans. Congressman Daniel T. Kildee (MI-05) was electe... Read more

  • Waters Leads Democrats in Calling for Diversity in the Leadership of the Federal Reserve Banks
    Posted in Press Releases on January 31, 2017 | Preview rr
    Tags: Federal Reserve

    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) called for intentional efforts to identify and select diverse candidates to replace retiring Federal Reserve Bank of Richmond President Jeffrey M. Lacker. Waters was joined by Financial Services Committee Democrats, Democrats serving in the Fifth Federal Reserve District, and Rep. John ... Read more

  • Waters: Another Dangerous EO from our Erratic President
    Posted in Press Releases on January 30, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, released a statement following Donald Trump’s implementation of yet another Executive Order (EO), this time rolling back important financial safeguards through a 2-for-1 gimmicky ploy: Sadly, every day brings another dangerous edict from President Trump and yesterday was no different. Trump unilaterally and arbitrarily signed another EO, prohibiting Federal agencies from proposing any new regulation ... Read more

  • Rex Tillerson and the Repeal of Section 1504
    Posted in Press Releases on January 30, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, International

    Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, released a statement following the introduction of Rep. Bill Huizenga’s (R-MI) resolution to repeal Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank): Today, the compulsive Republican Party took the first step in repealing the hard work of Democrats to make companies more accountable to American taxpayers. Section 1504 of Dodd-Frank was specifically designed t... Read more

  • CBC Warns Trump Against Removing CFPB Director Richard Cordray
    Posted in Press Releases on January 24, 2017 | Preview rr
    Tags: CFPB

    Following their joint op-ed published in The Hill, members of the Congressional Black Caucus (CBC), led by Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Cedric Richmond (D-LA), Chairman of the Congressional Black Caucus, penned a letter to President Donald Trump, warning him against removing Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), prior to the expiration of his term in July 2018. In the lette... Read more

  • Waters Condemns the Trump Administration for Betraying Homebuyers
    Posted in Press Releases on January 20, 2017 | Preview rr
    Tags: FHA, HUD

    Today Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the Department of Housing and Urban Development’s (HUD) announcement indefinitely suspending a reduction to the Federal Housing Administration (FHA) annual mortgage insurance premiums: “Just one hour after being sworn in, President Trump betrayed American homebuyers. Today, the Trump Administration declared its plan to indefinitely suspend President... Read more

  • Does He or Doesn’t He? Mnuchin’s Confirmation Hearing Raises Questions
    Posted in Press Releases on January 20, 2017 | Preview rr
    Tags: Department of the Treasury

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following Steven Mnuchin’s confirmation hearing to become Treasury Secretary before the Senate Finance Committee: “What we saw during yesterday’s hearing has only increased my concerns about how the incoming Trump Administration is going to effectively govern. The confirmation hearings this week have made several things abundantly clear, but there is one commonality th... Read more

  • Statement by Ranking Member Maxine Waters on the Resignation of Export-Import Bank Chairman and President Fred P. Hochberg
    Posted in Press Releases on January 19, 2017 | Preview rr
    Tags: Export-Import Bank

    “As the Obama Administration comes to a close, we must acknowledge the noble men and women who dedicated themselves to serving this Administration. Fred Hochberg, one of the most distinguished business leaders in our nation’s history, served with distinction, compassion, and a commitment to creating jobs and supporting our economic recovery. “Over the course of more than 80-years, the Export-Import Bank has successfully fulfilled its mission of creating U.S. jobs by supporting the export of U.S.... Read more

  • CBC Op-Ed: Trump Must Keep CFPB Director Richard Cordray
    Posted in Press Releases on January 18, 2017 | Preview rr
    Tags: CFPB

    In an op-ed published today in The Hill, House Democrats of the Congressional Black Caucus, led by Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Cedric Richmond (D-LA), Chairman of the Congressional Black Caucus, published an op-ed demanding President-elect Donald Trump reject any attempts to remove the Director of the Consumer Financial Protection Bureau (CFPB), Richard Corday, prior to the expiration of his term in July 2018. I... Read more

  • Waters Applauds US-EU Covered Agreement
    Posted in Press Releases on January 13, 2017 | Preview rr
    Tags: International

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today in response to an announcement from the U.S. Treasury Department that representatives from the United States and European Union successfully reached an agreement on international insurance and reinsurance rules, resulting in a covered agreement, as established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act): “Thanks to the Dodd... Read more

  • Waters Dismisses Carson as a Viable Secretary of HUD
    Posted in Press Releases on January 13, 2017 | Preview rr
    Tags: HUD

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued a statement following Dr. Ben Carson’s confirmation hearing to serve as Secretary of the Department of Housing and Urban Development (HUD): “Yesterday's confirmation hearing continues the common thread that ties together the incoming Trump Administration: a fundamental lack of experience, as well as a total misunderstanding of the agencies that they have been nominated to lead and the people ... Read more

  • Waters Strongly Opposes Republican Efforts to Dismantle Financial Regulation
    Posted in Press Releases on January 12, 2017 | Preview rr
    Tags: Dodd–Frank Wall Street Reform and Consumer Protection Act, SEC, CFTC, House Floor

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke strongly against two bills pushed by Republicans to effectively roll back postcrisis financial regulation. Ranking Member Waters acknowledged the bills on the House floor today as another attempt by the majority to gut policies that have helped millions of Americans. H.R. 78, the Securities and Exchange Commission (SEC) Regulatory Accountability Act Ranking Member Waters criticized and offered... Read more

  • Waters Applauds CFPB's Initiative in Investigating Consumer Harassment
    Posted in Press Releases on January 12, 2017 | Preview rr
    Tags: CFPB

    Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following a report published by the Consumer Financial Protection Bureau (CFPB/Bureau), demonstrating that over one-in-four consumers contacted by debt collectors felt threatened. This report is a result of the first-ever national survey of consumer experiences with debt collectors: “All Americans deserve a financial system that punishes predatory conduct, regardless o... Read more

  • Waters Congratulates Newly Appointed Democrat Committee Members
    Posted in Press Releases on January 10, 2017 | Preview rr
    Tags: Full Committee, Dodd–Frank Wall Street Reform and Consumer Protection Act

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a statement following the announcement of the newly appointed Democratic Members to the Committee, who will serve for the 115th Congress: “Democrats are now the last line of defense to fight the onslaught of Wall Street Reform rollbacks and deregulatory bills the Republicans will try to rush to President-elect Trump’s desk. But we are more than up to the challenge,” said Congresswoman Waters. “I w... Read more

  • Committee Democrats to Trump: Keep Cordray, Protect Consumers
    Posted in Press Releases on January 10, 2017 | Preview rr
    Tags: CFPB

    Today, Financial Services Committee Democrats, led by Congresswoman Maxine Waters (D-CA), demanded that President-elect Donald Trump reject any attempts to deregulate Wall Street by removing the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, prior to the expiration of his term in July 2018. In a letter to President-elect Trump, the Members said they will strongly oppose any action towards removing Director Cordray from his position as CFPB Director. In addition, th... Read more

  • Waters Praises Castro for FHA Premium Reductions
    Posted in Press Releases on January 9, 2017 | Preview rr
    Tags: FHA, HUD

    In response to the U.S. Department of Housing and Urban Development’s (HUD) notice earlier today announcing the reduction of annual insurance premiums on most mortgages insured by the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised HUD Secretary Julián Castro for his leadership in strengthening the FHA to carry out its mission to expand homeownership to low income borrowers, minority families, and first-time ho... Read more

  • GAO Report Underscores Waters’ Criticism of FEMA’s Compensation Methodology
    Posted in Press Releases on January 9, 2017 | Preview rr
    Tags: Flood Insurance, GAO

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement in response to a report published today by the U.S. Government Accountability Office (GAO) discussing the compensation paid to Write-Your-Own (WYO) companies that administer to the National Flood Insurance Program (NFIP). In 2014, Ranking Member Waters called on the GAO to study federal payments to WYO insurers and how they relate to actual expenses incurred by those insurers... Read more

  • Waters Calls for HUD, DOJ to Release OneWest Investigation Documents
    Posted in Press Releases on January 9, 2017 | Preview rr
    Tags: Department of the Treasury, HUD, Department of Justice

    Following her statement denouncing President-elect Trump’s nomination of Steve Mnuchin as Treasury Secretary, Congresswoman Maxine Waters (D-CA) called on the Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) to immediately release documents pertaining to investigations into any fraudulent or discriminatory activities committed by Mnuchin’s bank, OneWest. Congresswoman Waters underscored the urgency behind releasing these documents due to the conflict of inter... Read more

  • Waters: California Foreclosure King Mnuchin’s Actions Disqualify Him from Being Treasury Secretary
    Posted in Press Releases on January 6, 2017 | Preview rr
    Tags: Department of the Treasury

    Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement in response to a memo leak documenting widespread misconduct at OneWest, a bank that was headed by President-elect Trump’s Treasury nominee, Steve Mnuchin. The leaked memo exposes the bank’s violation of notice and waiting period statues, which subsequently forced struggling homeowners out of their homes, resulting in tens of thousands of foreclosures in California at the h... Read more



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