Press Releases

Waters and San Nicolas Call on Treasury and the Fed to Stop Excluding Territories from Receiving COVID-19 Relief

| Posted in Press Releases
Tags: COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Michael San Nicolas (D-GU), Vice Chair of the House Financial Services Committee, sent a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell urging them to ensure territories are not excluded from the federal government’s COVID-19 response efforts. In ... Read more »

Committee Democrats Working Around the Clock to Combat COVID-19

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Lawmakers may not be on Capitol Hill due to the COVID-19 pandemic, but Financial Services Committee Democratic Members are working around the clock to protect families, small businesses, and the economy. To date, Committee Democrats have sent more than 148 letters, introduced 50 legislative measures, and hosted over 61 stakeholder discussions to examine and address the impact of COVID-19. The Fina... Read more »

Committee to Hold Bipartisan Virtual Roundtable with Financial Regulators

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced that on Wednesday, May 13, Consumer Protection and Financial Institutions Subcommittee Chairman Gregory Meeks (D-NY) and Ranking Member Blaine Luetkemeyer (R-MO) will host a virtual roundtable discussion entitled, “Update from Prudential Regulators.” Panelists for the virtual roundtable in... Read more »

Waters, Heck and Brown Introduce Legislation to Provide Emergency Rental Assistance During COVID-19 Crisis

| Posted in Press Releases
Tags: COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, Congressman Denny Heck (D-WA), and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, announced the introduction of the Emergency Rental Assistance and Rental Market Stabilization Act of 2020, legislation to create a $100 billion emergency ren... Read more »

Committee Democrats At Work: Rep. San Nicolas Works to Ensure Funding is Available for Territories and Local Governments During COVID-19 Crisis

| Posted in Press Releases

In March, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. This legislation executes t... Read more »

Committee Democrats At Work: Rep. Lawson Pushes for Moratorium on Debt Collection During COVID-19 Crisis

| Posted in Press Releases

In March, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. This legislation executes t... Read more »

Waters and Subcommittee Chairs Hold Mortgage Servicers Accountable During COVID-19

| Posted in Press Releases

On Monday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee; Congressman Gregory Meeks (D-NY), Chair of the Subcommittee on Consumer Protection and Financial Institutions; Congressman Wm. Lacy Clay (D-MO), Chair of the Subcommittee on Housing, Community Development, and Insurance; and Congressman Al Green (D-TX), Chair of the Subcommittee on Oversight and In... Read more »

Waters Calls for Administration to Put Small Business Owners Over Predatory Payday Lenders

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Treasury Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza, calling attention to the irreparable harm predatory payday lenders have caused America’s consumers and urging Administration officials to deny them access to Paycheck Protection Program (PPP) loans. “Ma... Read more »

Committee Democrats At Work: Rep. Tlaib Leads Legislative Effort to Support State, Territory, and Local Governments During COVID-19 Crisis

| Posted in Press Releases
Tags: COVID-19

In March, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. This legislation executes t... Read more »

Committee Democrats At Work: Rep. Heck Pushes For Rental Assistance During COVID-19 Crisis

| Posted in Press Releases

In March, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. This legislation executes t... Read more »

Chairwoman Waters, Top Democrats Call on Treasury, Small Business Administration to Expand Paycheck Protection Program Opportunities for CDFIs and MDIs

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Today, House Financial Services Committee Chairwoman Maxine Waters joined with House Speaker Nancy Pelosi, Senate Democratic Leader Charles Schumer, House Small Business Committee Chairwoman Nydia Velázquez, Senate Small Business and Entrepreneurship Committee Ranking Member Benjamin Cardin, and Housing and Urban Affairs Committee Ranking Member Sherrod Brown, in sending a letter to U.S. Treasury ... Read more »

Waters Statement on Passage of Interim COVID-19 Relief Package

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Today, the House of Representatives passed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, by a vote of 388-5-1. Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congresswoman Nydia Velázquez (D-NY), Chairwoman of the House Committee on Small Business, led efforts to ensure much-needed reforms were included in H.R. 266 to i... Read more »

Waters Statement on Bipartisan Deal to Fund Paycheck Protection Program, Assist Small Businesses, and Ensure Full Participation by CDFIs and MDIs

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Tags: COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, made the following statement regarding the bipartisan agreement on legislation to provide $370 billion in funding to assist small businesses struggling as a result of the coronavirus pandemic. “I applaud Speaker Pelosi and Leader Schumer for their leadership and their work to secure $370 billion in add... Read more »

Waters Urges Fed to Address Concerns Regarding COVID-19 Programs and Facilities Needed to Support Small Businesses and the Economy

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, urging him to address concerns regarding the implementation of programs and facilities authorized by the CARES Act. In the letter, the Chairwoman outlined numerous issues including the Federal Reserve’s narro... Read more »

Chairwoman Waters, Ranking Member Brown Call on Administration to Stabilize the Housing Market During the Coronavirus Pandemic

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, sent a letter to Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin urging them to ensure the stability of the housing market in the face of the Coronavirus pandemic. T... Read more »

Financial Services and Oversight Committee Chairs Seek Briefing on FDIC’s Readiness for Financial Crisis During Pandemic

| Posted in Press Releases
Tags: FDIC, COVID-19

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Congresswoman Carolyn B. Maloney (D-NY), Chairwoman of the Committee on Oversight and Reform, and Congressman Raja Krishnamoorthi (D-IL), Chairman of the Oversight Subcommittee on Economic and Consumer Policy, sent a letter to the Federal Deposit Insurance Corporation (FDIC) seeking information on the agency’... Read more »

Waters and Velázquez Write to Megabank CEOs to Express Strong Concerns About Small Business Access to Paycheck Protection Program

| Posted in Press Releases
Tags: COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congresswoman Nydia Velázquez (D-NY), Chairwoman of the House Small Business Committee, wrote to the Chief Executive Officers of Citigroup, JP Morgan Chase, Bank of America, and Wells Fargo to express strong concerns with a lack of access to the Paycheck Protection Program (PPP) for small businesse... Read more »

Waters Statement on Wells Fargo’s Asset Cap

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Following the announcement by the Federal Reserve that it will “temporarily and narrowly modify the growth restriction on Wells Fargo so that it can provide additional support to small businesses,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement: “The economic crisis resulting from the coronavirus pandemic is a unique and un... Read more »

Waters and Brown Call on Administration Officials to Step Up Efforts to Implement Defense Production Act

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Tags: COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, sent a letter to Mark Esper, Secretary of Defense, and Alex Azar, Secretary of Health and Human Services, urging them to focus the use of resources provided by Congress in H.R. 748, the Coronavi... Read more »

Chairwoman Waters Applauds World Bank Capital Increase Included In COVID-19 Stimulus Package

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After an agreement on a major World Bank Group reform package advocated for by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and memorialized in a letter from World Bank President David Malpass to Treasury Secretary Steven Mnuchin, Chairwoman Waters signaled her support to authorize the Secretary of Treasury to vote in favor of a $5.5 billion capital inc... Read more »

Committee Democrats Call on Regulators to Suspend CRA and Other Rulemakings Unrelated to COVID-19

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This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led a letter to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, urging them to prioritize a strong response to the COVID-19 pandemic and suspend efforts to revise the Community Reinvestment Act (CRA) and any unrelated rulemak... Read more »

Waters to Mnuchin and Carranza: Paycheck Protection Program Funds Must Not Be Used to Pay Private Equity or Other Funds

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza. “Any funds granted through [the paycheck protection program] must not be used to pay any debts or obligations to private funds, including management or consulting fees,” said Chairwoma... Read more »

Waters Calls on SEC and Treasury to Resist Efforts to Roll Back Protections for Non-Traditional Workers During COVID-19 Crisis

| Posted in Press Releases

On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Securities and Exchange Commission Chairman Jay Clayton and Treasury Secretary Steven Mnuchin, urging them to uphold safeguards put in place to protect non-traditional workers—such as contractors, freelancers, and those in the gig economy— during the Coronavirus pandemic. “Unsur... Read more »

During COVID-19 Crisis, Waters Calls on Treasury and SBA to Allow All Local, Community Financial Institutions to Participate in Program to Support Small Businesses

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Steven Mnuchin, Secretary of the U.S. Department of the Treasury, and Jovita Carranza, Administrator of the U.S. Small Business Administration (SBA), urging them to ensure all financial institutions, including community banks, credit unions, minority depository institutions, and Commun... Read more »

Committee Releases Answers to Frequently Asked Questions About the CARES Act

| Posted in Press Releases

Today, the House Financial Services Committee, led by Chairwoman Maxine Waters (D-CA), released a document with answers to frequently asked questions regarding financial services provisions in H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (CARES Act), legislation that was passed into law to provide relief to those who are impacted by the Coronavirus pandemic. This document was de... Read more »



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