CFPB

Chairwoman Waters on Why Tim Sloan’s Departure from Wells Fargo Is Long Overdue

| Posted in Press Releases
Tags: CFPB, SEC, OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, released the following statement in response to an announcement by Wells Fargo & Company that Tim Sloan would step down as CEO, President, and Board member, effective immediately. “I agree with Tim Sloan that it is best that he steps down. Tim Sloan has a 31-year history at Wells Fargo, and oversaw the... Read more »

Committee Passes Bills to End Homelessness, Benefit Consumers and Investors and Help Small Businesses and Financial Institutions

| Posted in Press Releases

This week, the House Financial Services Committee, held a markup of five bills to crack down on foreign corruption, uphold consumer protections, increase access to the financial system, protect retirement savers, and address the national homelessness crisis. See the legislation below. HR 389, Kleptocracy Asset Recovery Rewards Act, legislation that establishes a rewards program to incentivize indi... Read more »

Waters Opening Statement at Markup of Five Bills

| Posted in Press Releases

Today, at a full Committee markup, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following opening statement. As Prepared for Delivery Today, this Committee convenes for a markup of five overdue bills. As I have said before, under my leadership, this Committee will be focused on fairness and policies to benefit consumers, investors, small busines... Read more »

Waters Calls on Consumer Bureau Director to Explain Anti-Consumer Actions

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hearing entitled, “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau.” Today, this Committee convenes for a hearing on the Semiannual Report of the Consumer Financial Protection Bureau. Testifying today before t... Read more »

Waters and Committee Democrats Stand Up for America’s Consumers

| Posted in Press Releases
Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Committee Democrats announced the reintroduction of H.R. 1500, the Consumers First Act, a bill to block the Trump Administration’s anti-consumer agenda and reverse their past efforts to undermine the mission of the Consumer Financial Protection Bureau (Consumer Bureau). “I consider the Consumer ... Read more »

Waters Pens Open Letter to CFPB Employees

| Posted in Press Releases
Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to the dedicated public servants of the Consumer Financial Protection Bureau (Consumer Bureau), to address the challenges they have faced in the last two years and assure them that she will use the full range of the Committee’s oversight authorities to prevent any efforts to weaken the Co... Read more »

Waters and Green Request Documents from Consumer Bureau on Recent Settlements

| Posted in Press Releases
Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, wrote to Consumer Financial Protection Bureau Director Kathy Kraninger to request documents relating to recent settlements that do not require companies that have violated the law to provide redress to con... Read more »

Waters Blasts CFPB Giveaway to Predatory Payday Loan Sharks

| Posted in Press Releases
Tags: CFPB

Today, in response to the Consumer Financial Protection Bureau’s announcement that it is reconsidering its 2017 Payday, Small-Dollar, and Car Title rule that would put a stop to abusive payday loans, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement: “I am deeply troubled by the Consumer Bureau’s proposal to gut a much-needed r... Read more »

Chairwoman Waters: It’s a New Day

| Posted in Press Releases

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

| Posted in Press Releases

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 Urges Regulators to Protect Americans Experiencing Financial Hardship Due to Trump Shutdown

| Posted in Press Releases

On Thursday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, wrote a letter to Federal Reserve Chairman Jerome Powell, Federal Deposit Insurance Corporation Chairman Jelena McWilliams, Consumer Financial Protection Bureau Director Kathy Kraninger, Comptroller of the Currency Joseph Otting, and National Credit Union Administration Chairman Mark McWatters... Read more »

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

| Posted in Press Releases

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 Puts Mulvaney on Notice

| Posted in Press Releases
Tags: CFPB

WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, sent a letter to Office of Management and Budget Director Mick Mulvaney, informing him that she expects his full and complete cooperation with the Committee’s oversight of the Consumer Financial Protection Bureau’s actions during his tenure at the agency, and that he may be c... Read more »

Waters, Heck and 21 Committee Democrats Call on CFPB Director to Resume Protection of Military Servicemembers

| Posted in Press Releases
Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Congressman Denny Heck (D-WA) and 21 Committee Democrats sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), urging her to recommit the Consumer Bureau to fulfilling its supervisory role over consumer protection laws, including the Military L... Read more »

Waters Statement on the CFPB’s Weak Settlement with State Farm Bank

| Posted in Press Releases
Tags: CFPB

Following the announcement that the Consumer Financial Protection Bureau (Consumer Bureau) settled with State Farm Bank, FSB, over the misuse of consumer credit information without imposing a civil penalty, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “To cap off his harmful tenure at the Consumer Bureau, Mick Mulvan... Read more »

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

| Posted in Press Releases

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 Proposal to Weaken Enforcement at the Consumer Bureau

| Posted in Press Releases
Tags: CFPB

Today, following a Consumer Financial Protection Bureau (Consumer Bureau) proposal to weaken its “no-action letter” policy and reduce enforcement, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement: “I am very concerned by the Consumer Bureau proposal, issued in the last days of Mick Mulvaney’s leadership, to significantly loosen... Read more »

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

| Posted in Press Releases

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, Heck and 21 Committee Democrats Call on CFPB Director to Resume Protection of Military Servicemembers

| Posted in Press Releases
Tags: CFPB, HUD

WASHINGTON, D.C. -Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, Congressman Denny Heck and 21 Committee Democrats sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), urging her to recommit the Consumer Bureau to fulfilling its supervisory role over consumer protection laws, including the... Read more »

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

| Posted in Press Releases

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 Introduces Legislation to Put Consumers First

| Posted in Press Releases
Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, announced the introduction of H.R. 6972, the Consumers First Act, a bill to block the Trump Administration’s anti-consumer agenda and reverse their efforts, led by Mick Mulvaney, Director of the Office of Management and Budget, to dismantle the Consumer Financial Protection Bureau. This legislat... Read more »

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

| Posted in Press Releases

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

| Posted in Press Releases

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 and Hensarling Unveil Bipartisan Capital Markets Reform Legislation

| Posted in Press Releases

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 Introduces Bill to Restore Fair Housing Protections Eliminated by Secretary Carson

| Posted in Press Releases
Tags: CFPB, HUD

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, introduced H.R. 6220, the Restoring Fair Housing Protections Eliminated by HUD Act of 2018, a bill to restore several fair housing protections that Ben Carson, Secretary of the Department of Housing and Urban Development (HUD), has eliminated. “The Department of Housing and Urban Development (HU... Read more »



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