Dodd–Frank Wall Street Reform and Consumer Protection Act

Chairwoman Waters: It’s a New Day

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Following her first policy speech as Chairwoman of the House Financial Services Committee, Congresswoman Maxine Waters (D-CA), sat down for a brief discussion where she outlined her plans as Chairwoman in the 116th Congress and addressed a wide range of important issues, including consumer protection, affordable housing, diversity and inclusion, working across the aisle, and the racial wealth gap.... Read more »

Waters Outlines Agenda in First Policy Speech as Committee Chairwoman

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following remarks during her first policy speech in the 116th Congress: As Prepared for Delivery Thank you for the very warm welcome, and to the Center for American Progress for holding this event. CAP’s research and policy work are highly respected and a valued resource for Members of... Read more »

Waters Chosen by House Democrats to Be First Woman and African American to Chair Financial Services Committee

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Today, Congresswoman Maxine Waters (D-CA) released the following statement after being approved by the Democratic Caucus to serve as the first woman and the first African American Chair of the House Financial Services Committee: “I am honored to have been selected by my colleagues to be the first Chairwoman of the House Financial Services Committee in the 116th Congress. Since 1995, I have served ... Read more »

Waters Statement on FOIA Release Revealing Unpublished Consumer Bureau Analysis on Bank Fees Charged to Students

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Today, in response to a Freedom of Information Act (FOIA) disclosure revealing a previously unreleased Consumer Financial Protection Bureau (Consumer Bureau) analysis on excessive account fees charged to students by large banks, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “It is deeply troubling that a previously unpublis... Read more »

Waters Statement on her Nomination as Financial Services Committee Chairwoman by Democratic Steering and Policy Committee

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Following her historic nomination by the House Democratic Steering and Policy Committee as the first woman and African American to chair the House Committee on Financial Services, Congresswoman Maxine Waters (D-CA), issued the following statement: “I am honored to have been nominated by the Democratic Steering and Policy Committee to serve as Chairwoman of the House Financial Services Committee in... Read more »

Waters Statement on the Confirmation of Kathy Kraninger to Head the CFPB

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Following the U.S. Senate confirmation of OMB Associate Director Kathy Kraninger to serve as Director of the Consumer Financial Protection Bureau (Consumer Bureau), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement: “The Consumer Financial Protection Bureau was specifically designed by Congress to be an independent watchdog fo... Read more »

Waters Statement at Hearing with Vice Chairman for Supervision of the Federal Reserve

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full Committee hearing on the Federal Reserve’s supervision and regulation of the financial system with Randal Quarles, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System. As Prepared for Delivery Mr. Chairman, this is the first hearing si... Read more »

Waters Leads Call for Committee to Investigate Failures to Protect Student Loan Borrowers at the CFPB

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services and 12 Members of Congress, sent a letter to Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, urging him to use the full range of the Committee’s oversight authorities to conduct a formal investigation into allegations raised by Seth Frotman, former Assistant... Read more »

Waters Statement on the 10th Anniversary of the 2008 Financial Crisis

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Today, in commemoration of the 10th anniversary of the 2008 financial crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The 2008 financial crisis was the worst financial disaster since the Great Depression, inflicting widespread, devastating costs on millions of American families,” said Ranking Member Waters. “Al... Read more »

Waters Statement on Bipartisan Legislation to Help Small Businesses and Protect Investors

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, gave the following floor statement in support of S.488, the JOBS and Investor Confidence Act of 2018, a bipartisan bill that facilitates access to capital for small businesses, increases protections for consumers and investors, fights the scourge of drug and human trafficking, and promotes finan... Read more »

Waters and Hensarling Unveil Bipartisan Capital Markets Reform Legislation

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Jeb Hensarling (R-TX), Chairman of the House Committee on Financial Services, announced that they have reached an agreement on a package of strong, bipartisan capital-formation legislation to help America’s small businesses and entrepreneurs and to protect investors. The package,... Read more »

Waters Statement on FY19 Financial Services Funding Bill

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Today, in response to the House Committee on Appropriations markup of the fiscal year 2019 Financial Services and General Government Appropriations bill, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “The Trump Administration and Congressional Republicans are shameless in their attempts to rollback consumer protection... Read more »

Waters Statement on Mulvaney’s Reorganization of the Consumer Financial Protection Bureau

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Today, in response to Director of the Office of Management and Budget Mick Mulvaney’s announcement that the Consumer Financial Protection Bureau (Consumer Bureau) will dramatically reorganize its operational structure, creating new offices and closing existing ones, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “This ... Read more »

Waters Statement on Regulators’ Enforcement Action Against Wells Fargo

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Today, in response to the announcement that the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency will each impose a $500 million penalty against Wells Fargo for its auto insurance and mortgage lending abuses, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Wells Fargo has a terrible trac... Read more »

Waters, Scott, Brown and Murray Statement on the SEC’s Fiduciary Rule Proposal

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services; Congressman Bobby Scott (D-VA), Ranking Member of the House Committee on Education and the Workforce; Senator Sherrod Brown (D-OH), Ranking Member of the Senate Banking Committee, and Senator Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor and Pensions Committee, made ... Read more »

Waters: H.R. 4061 Hamstrings Efforts to Rein in the Next AIG Before a Financial Crisis

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement on H.R. 4061, the so-called “Financial Stability Oversight Council Improvement Act. This bill would undermine efforts mandated in the Dodd-Frank Act to mitigate the risks posed to the economy by large nonbank firms, like AIG, Lehman Brothers and Bear Stearns. As Prep... Read more »

Waters Statement in Opposition to Bill That Weakens Stress Tests for Wall Street Banks

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement on H.R. 4293, another Dodd-Frank rollback bill that would make it easy for Wall Street banks to get a passing grade on their stress tests. H.R. 4293 would effectively weaken a critical tool that protects Americans by ensuring large banks are adequately capitalized an... Read more »

Waters Sends Letter to Bank of America on Ending Free “eBanking” Service

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, sent a letter to Brian Moynihan, Chairman and CEO of Bank of America, about the bank’s recent decision to eliminate free checking accounts for “eBanking” customers. Ranking Member Waters noted the potential impact of the decision on the unbanked population, which comes at a time of record bank profits... Read more »

Waters Statement in Opposition to Bill that Forces Regulators to Put Industry Profits over Consumer Protections

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 1116, the so-called “Taking Account of Institutions with Low Operation Risk Act of 2017” or the TAILOR Act, a bill that directs financial regulators to prioritize reducing costs for financial institutions, including megabanks, over protecting co... Read more »

Waters Statement on Senate Passage of Harmful Dodd-Frank Rollback Bill

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the passage of S. 2155, a harmful bank deregulation bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act: “As I have said before, this bill repackages harmful provisions from Financ... Read more »

Waters: S.2155 Is a Harmful Bill and House Republicans Are Determined to Make It Worse

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As the U.S. Senate debates S.2155, a bill that would roll back important reforms put in place by the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement: “As I have said before, this bill repackages harmful provisions from Financial Services Committee Chairman Jeb ... Read more »

At Markup of Budget Views, Waters Blasts Harmful Republican Agenda

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement at a full Committee markup to consider the Majority's Views and Estimates on the Budget for FY 2019: As Prepared for Delivery Thank you, Mr. Chairman. Mr. Chairman, Committee Democrats are committed to advancing policies that create shared prosperity and economic opportuni... Read more »

Waters Statement in Opposition to Bill that Rolls Back Post-Crisis Protections and Undermines Bank Stability

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4296, a bill to decrease operational risk capital requirements for the nation’s largest banks: As Prepared for Delivery Mr. Speaker, I rise in strong opposition to H.R. 4296. This bill is simply another rollback of rules put in place after the f... Read more »

Waters Floor Statement in Opposition to Bill Undermining Dodd-Frank Mortgage Protections

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Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 1153, the so-called Mortgage Choice Act of 2017: As Prepared for Delivery Thank you Madam Speaker. I rise today in opposition to H.R. 1153, the so-called “Mortgage Choice Act of 2017”. Unfortunately, this bill is yet another attempt to undermine... Read more »

Waters Applauds Court Decision Reaffirming the Independence of the Consumer Financial Protection Bureau

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Today, in response to a decision by the full U.S. Court of Appeals for the District of Colombia Circuit upholding the constitutionality of the structure of the Consumer Financial Protection Bureau (Consumer Bureau), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “Today, the full U.S. Court of Appeals for the District of Colo... Read more »



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