Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee virtual hearing entitled, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.” Today, this Committee convenes for part three of our series of hearings focused on market volatility related to Game... Read more »
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent letters to senior Members of the House Committee on Appropriations urging them to fund the Minority Business Development Agency, the Community Development Financial Institutions (CDFI) Fund, the Securities and Exchange Commission (SEC), and programs that support affordable housing and address homelessnes... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the May 6 full committee virtual hearing entitled: “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.” The Honorable Gary Gensler, Chairman, U.S. Securities and Exchange Commission Michael Bodson, Presiden... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Gary Gensler as Chairman of the Securities and Exchange Commission. “I congratulate Gary Gensler on his confirmation as Chairman of the Securities and Exchange Commission (SEC). “Gary Gensler has a proven track record as a tough regulator on Wa... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to President-Elect Joseph R. Biden, providing recommendations on areas where the Biden Administration should immediately reverse the actions of the Trump Administration, and several actions that the Biden Administration can immediately take to coordinate the federal response to COVID-1... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, sent a letter to agencies within the Committee’s jurisdiction calling on them to cease and desist from finalizing any “midnight rulemakings” or other administrative actions until President-Elect Joseph R. Biden is sworn into office on January 20, 2021. “On November 3, 2020, the American people spoke with ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other House Committee Chairs sent a letter to 61 federal agencies requesting information on conversions of political appointees to civil service positions during the Trump Administration. “Protecting the nonpartisan expertise of the career civil service is essential to the safety and security of... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and other Committee Chairs across the House of Representatives sent letters directing the White House and more than 50 federal agencies within their jurisdictions to comply with federal record-keeping laws and preserve information responsive to congressional subpoenas and investigations. “As the Tru... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton, urging the SEC to rescind harmful proposed amendments to rule 13-F and rule 13f-1 of the of the Securities and Exchange Act which would reduce transparency in capital markets. “I have encouraged the Securities and Exchange ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following floor statement in support of the Uyghur Forced Labor Disclosure Act of 2020, introduced by Representative Jennifer Wexton (D-VA), which passed on a bipartisan vote of 253-163. I rise in strong support of H.R. 6270, the Uyghur Forced Labor Disclosure Act of 2020, important legisla... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, Congressman Josh Gottheimer (D-NJ), Congressman Brad Sherman (D-CA), Chairman of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, Congressman Bill Foster (D-IL), Chairman of the Task Force on Artificial Intelligence, and Congressman Stephen F. Lynch (D-MA), Chairman of ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Jay Clayton, Chairman of the Securities and Exchange Commission (SEC), reiterating her call for the agency to halt rulemakings unrelated to the pandemic. “At the beginning of the crisis, I called on all of our financial regulators, including the Securities and Exchange Commission, t... Read more »
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 »
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 »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services; Congressman Eliot Engel (D-NY), Chairman of the House Committee on Foreign Affairs; Congressman Raúl Grijalva (D-AZ), Chairman of the House Committee on Natural Resources, Congressman Brad Sherman (D-CA), Chairman of the Financial Services Subcommittee on Investor Protection, Entrepreneurship, and C... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led six letters to Administration officials, prudential regulators, financial services organizations and credit reporting agencies expressing concerns about risks related to coronavirus disease 2019 (COVID-19) and the steps they are taking to prevent Americans and the financial system from being harmed... Read more »
Today, the House Financial Services Committee passed seven bills to benefit consumers, investors and the economy. The bills passed by the Committee include: H.R. 149, the Housing Fairness Act, a bill introduced by Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, which would authorize increased funding for the Department of Housing and Urban Development’s F... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, delivered the following opening statement at a full Committee markup to make housing more affordable and available, fight housing discrimination, and increase transparency and disclosures in the nation’s capital markets. As Prepared for Delivery In 2019, the Committee had a very productive year, and ad... Read more »
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, issued the following statement on the SEC’s proposed rules entitled, “Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice” and “Procedural Requirements and Resubmission Thresh... 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 heads of the Federal Reserve, Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), and Commodity Fu... 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 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 Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee. H. Res. 456, Emphasizing the Importance of State Regulators, a bipartisan resolution emphasizing the investor protection and education missions of ... Read more »
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement on the announcement of the Securities and Exchange Commission’s (SEC) final rule governing the standards of care owed by broker-dealers when providing retail investors with personalized investment recommendations: “The SEC’s final rule ignores the explicit will of Congres... Read more »
This week, the House Financial Services Committee, held a markup of five bills and two resolutions to promote responsible innovation through financial technology, crack down on money laundering and illicit finance, protect small businesses and investors, and uphold consumer protections. See the legislation below. HR 1988, the Protect Affordable Mortgages for Veterans Act of 2019, bipartisan legisl... Read more »
Today, the U.S. House of Representatives passed the following bipartisan bills, offered by House Financial Services Committee Members in recognition of Financial Literacy Month. H. Res. 327, Encouraging Greater Public-Private Sector Collaboration to Promote Financial Literacy for Students and Young Adults, a resolution to encourage financial planning efforts among students and young adults. This l... Read more »
