CFPB

Committee Passes Legislation to Crack Down on Predatory Debt Collectors and Support Veterans and Servicemembers

| Posted in Press Releases
Tags: CFPB, HUD

Today, the House Financial Services Committee passed eight bills to help veterans experiencing homelessness, protect servicemembers from harassment by debt collectors, and prevent predatory debt collection practices to help consumers and small businesses. See the Chairwoman’s opening statement here and the legislation below. The Ending Debt Collection Harassment Act of 2019 (H.R. 5021), a bill by ... Read more »

Waters to Kraninger: You Are Undermining Protections for Consumers

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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 »

Committee Staff Report Documents Trump-Appointees' Efforts to Leave Consumers High and Dry

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Tags: CFPB

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 »

Waters and 101 Members Blast CFPB Giveaways to Predatory Payday Lenders

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Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and 101 Members of Congress sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), calling on her to reconsider the Consumer Bureau’s final rule to delay the original August 19, 2019 compliance date for the 2017 Payday, Vehicle Title, and Certain Hi... Read more »

Waters Statement on CFPB Student Loan Ombudsman Announcement

| Posted in Press Releases

Following the announcement that Robert Cameron, former head of compliance and risk mitigation at the Pennsylvania Higher Education Assistance Agency (PHEAA/FedLoan Servicing), will serve as the Private Education Loan Ombudsman at the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement.... Read more »

Committee Chairs Request Information from Consumer Bureau on Efforts to Protect Student Loan Borrowers

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Tags: CFPB

Today, Financial Services Committee Chairwoman Maxine Waters (D-CA), Education and Labor Committee Chairman Bobby Scott (D-VA), and Oversight and Reform Committee Chairman Elijah Cummings (D-MD) sent a letter to Consumer Financial Protection Bureau Director Kathleen Kraninger requesting information and records concerning the CFPB’s efforts to protect consumers from unlawful student loan servicing ... Read more »

Waters, Velázquez and 63 Democrats Blast CFPB’s HMDA Rollback

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Tags: CFPB

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Congresswoman Nydia Velázquez (D-NY) and 63 Democratic Members of Congress sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (Consumer Bureau), demanding that she immediately rescind proposals that would limit critical lending information collected under the Home Mo... Read more »

House Passes Consumers First Act

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Today, the U.S. House of Representatives passed H.R. 1500, the Consumers First Act, legislation introduced by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, 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). The bill passed by a ... Read more »

Waters Floor Statement on Her Legislation to Put Consumers First

| Posted in Press Releases

Today, the U.S. House of Representatives will consider 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). See Congresswoman Maxine Waters’ (D-CA), Chairwoman of the House Committee on Financial Services, floor statement below. As Pr... Read more »

Waters Applauds Overdue Departure of Blankenstein from CFPB

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Tags: CFPB

Today, after the overdue announcement that Eric Blankenstein, Policy Associate Director for the Supervision, Enforcement and Fair Lending Division at the Consumer Financial Protection Bureau (Consumer Bureau), will be leaving the agency, Chairwoman Waters issued the following statement: “When Director Kraninger appeared before the Committee in March, I asked her about the past racist writings of t... Read more »

Waters: Buying A Car Should Be Fair, Transparent and Free of Discrimination

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Today, at a Subcommittee on Oversight and Investigations hearing entitled, “Examining Discrimination in the Auto Loan and Insurance Industries,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following opening statement. As Prepared for Delivery Thank you, Mr. Chairman. Buying a car is a significant purchase for many Americans and should be a fair... Read more »

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

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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

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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

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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

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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

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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 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

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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 »



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