Today, the U.S. House of Representatives passed H.R. 3624, the Outsourcing Accountability Act of 2019, legislation that would hold public companies accountable for protecting American jobs by requiring them to annually disclose the total number of workers they employ in each state and foreign country, as well as the percentage change from the previous year. According to the Economic Policy Instit... Read more »
Today, the U.S. House of Representatives passed H.R. 1815, the SEC Disclosure Effectiveness Testing Act, a bill to require the Securities and Exchange Commission (SEC) to test any new disclosure intended for retail investors under the SEC’s proposed regulation best interest. It would also require the SEC to review and test its existing disclosures for retail investors, such as trading confirmation... Read more »
Today, at a press conference to discuss the reauthorization of the Terrorism Risk Insurance Act (TRIA), Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening remarks. As Prepared for Delivery I am very pleased to be here with my colleagues to discuss the reauthorization of the Terrorism Risk Insurance Act (TRIA) The Terrorism Risk I... Read more »
Today, at a hearing entitled “Who Is Standing Up for Consumers? A Semi-Annual Review of the Consumer Financial Protection Bureau,” Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, gave the following opening statement: Good morning. Today, we are here to receive the semi-annual report of the Consumer Financial Protection Bureau and hear testimony from its Direc... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, released a Majority staff report entitled, “Settling for Nothing: How Kraninger’s CFPB Leaves Consumers High and Dry.” According to the report, Trump-appointed leadership, including Director Kathleen Kraninger, have failed consumers by undermining the Consumer Financial Protection Bureau’s (Consumer Burea... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced that Facebook Chairman and CEO Mark Zuckerberg will testify before the Committee at an October 23 hearing. Zuckerberg will be the sole witness at the hearing, which is entitled, “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” In July, Chairwoman Wate... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several Committee hearings for the month of October: Wednesday, October 16 at 10:00 AM: The full Committee will convene a hearing entitled, “Who Is Standing Up for Consumers? A Semi-Annual Review of the Consumer Financial Protection Bureau.” Wednesday, October 16 at 2:00 PM: The Subcommittee ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several Committee hearings for the month of October: Wednesday, October 16 at 10:00 AM: The full Committee will convene a hearing entitled, “Who is Standing Up for Consumers? A Semi-Annual Review of the Consumer Financial Protection Bureau.” Wednesday, October 16 at 2:00 PM: The Subcommittee ... Read more »
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 the Appraisal Subcommittee (ASC) Chairman Arthur Lindo requesting answers about ASC’s decision to grant a waiver of appraiser certification and licensing to the state of North Dakota.... Read more »
Today, the U.S. House of Representatives passed H.R. 1595, the SAFE Banking Act, legislation sponsored by Congressmen Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers (R-OH) and Warren Davidson (R-OH), Members of the House Financial Services Committee, to make reforms that will ensure that state-authorized and regulated Cannabis businesses are not forced to operate with cash only. The legisl... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement on the need for comprehensive federal cannabis reforms. “I am very pleased that the SAFE Banking Act, which makes reforms to ensure that state-authorized and regulated Cannabis businesses are not forced to operate with cash only, an issue which Representatives Perlmutter... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee hearing with Securities and Exchange Commission (SEC) Chairman Jay Clayton and Commissioners Robert Jackson, Hester Peirce, Elad Roisman and Allison Herren Lee. As Prepared for Delivery Good morning. I want welcome back Chairman Clayton, and welc... Read more »
On Thursday, the U.S. House of Representatives passed nine financial services bills that protect whistleblowers, support home buyers, advance technologies to thwart bad actors, protect government employees and others affected by a government shutdown, in addition to creating several commemorative coins and medals, including: H.R. 3625, the PCAOB Whistleblower Protection Act of 2019, a bill that wo... Read more »
Today, the House Financial Services Committee passed 12 bills to benefit consumers, investors, and vulnerable families, including six bipartisan measures. The legislation passed by the Committee included: The Investor Protection and Capital Markets Fairness Act (H.R.4344), a bill by Representative Ben McAdams (D-UT), that would substantially strengthen the authority of the Securities and Exchange ... Read more »
Today, following the release of a Federal Deposit Insurance Corporation (FDIC) proposal to eliminate the requirement that banks collect initial margin when transacting with their affiliates, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement: “The rollback of this important safeguard has been on Wall Street’s wishlist since the ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee hearing entitled, “Examining Private Market Exemptions as a Barrier to IPOs and Retail Investment.” Good morning. I’d like to thank Chair Maloney for holding this hearing on an important and growing part of our financial system—the private securi... Read more »
On Tuesday, the U.S. House of Representatives passed the following bills offered by House Financial Services Committee Members, and managed on the House floor by Congressman Michael San Nicolas (D-GU), Vice Chairman of the House Financial Services Committee. H.R. 2852, Homebuyer Assistance Act of 2019, a bill that would make it easier for homebuyers to buy a home with a Federal Housing Administrat... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee hearing entitled, “A $1.5 Trillion Crisis: Protecting Student Borrowers and Holding Student Loan Servicers Accountable.” As Prepared for Delivery Good morning. Today this Committee convenes for a hearing to examine the student loan debt crisis. I... Read more »
Today, in response to the Trump Administration’s release of a housing finance reform proposal, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement: “Reforming our system of housing finance is a proposition that has very serious implications for millions of Americans, including those aspiring to become homeowners as well as rente... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement after the Congressional delegation she led to Europe and the Middle East concluded its trip. Congressman Michael San Nicolas (D-GU), Vice Chair of the House Financial Services Committee, Congresswoman Sylvia Garcia (D-TX), and Congressman Lance Gooden (R-TX), joined the d... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement after a bipartisan Congressional delegation to Europe and the Middle East that she is leading concluded with a visit to Qatar. “Today, my colleagues and I depart Doha, Qatar, after meeting with the Minister of Finance, the Governor of the Qatar Central Bank, and the CEO o... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement after a bipartisan Congressional delegation that she is leading concluded its visit to Cyprus. “I have long been concerned by the deficiencies both domestically and abroad in safeguarding the financial system from money laundering and other forms of illicit finance. This ... Read more »
Following up on full Committee hearings in March and April where Committee Democrats asked megabank CEOs hard-hitting questions on issues including their alarming CEO-to-worker pay ratio despite making record profits in recent years, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Committee Democrats asked megabanks for more information on their CEO co... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement after a bipartisan Congressional delegation that she is leading concluded its visit to Germany. “Since the beginning of this Congress, the Financial Services Committee has taken a close look at the U.S. sanctions regime and efforts to combat terrorism and illicit financin... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement regarding the delegation she is leading to Europe and the Middle East during the Congressional recess. “Last month, the House Financial Services Committee held a hearing to examine Facebook’s proposed cryptocurrency, Libra, and its impact on consumers, investors, national... Read more »
