Federal Reserve

Waters Opening Statement at Hearing on Oversight of Prudential Regulators

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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 virtual hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” Welcome, Chairman Harper and Acting Comptroller Hsu, and welcome back Chairman McWilliams and Vic...

Committee Passes Legislation to Advance Racial Equity, Protect Consumers, and Improve Disclosures by Public Companies

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Today, the House Financial Services Committee passed eight bills, including legislation to advance racial and economic justice, promote equity in the financial system, ensure consumers are not exposed to abusive debt collection practices, and provide key material information to investors. The bills passed by the Committee include. The Shareholder Political Transparency Act (H.R. 1087), a bill by R...

House Financial Services Committee Passes Waters Bill on Racial and Economic Equity, Warren and Gillibrand Introduce Senate Companion

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Today, the Financial Services Committee passed legislation introduced by Chairwoman Maxine Waters (D-CA) to require the Federal Reserve to use its existing authorities to close racial employment and wage gaps and report on how the gaps change over time. Senator Elizabeth Warren (D-MA) and Senator Kirsten Gillibrand (D-NY) introduced companion legislation in the Senate to address the inequities tha...

Waters Delivers Opening Statement at Full Committee Markup

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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 hybrid markup. Good morning. Today, we are here to mark up a series of important measures. I am very pleased that, following the Committee’s hearing in March on racial justice and racial equity, today the Committee will be considering several bills by...

Waters at Hearing with Yellen and Powell: We Must Ensure That There is a Sustained and Equitable Recovery

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening statement at a full Committee virtual hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” I’d like to welcome Secretary Yellen and Chair Powell. I am very pleased that, with Democrats’ passage of President Biden’s American Re...

Waters Urges Regulators Not to Weaken Big Bank Leverage and Capital Requirements

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Federal Reserve Chair Jerome Powell, Federal Reserve Vice Chair Randal Quarles, Federal Deposit Insurance Corporation Chair Jelena McWilliams, and Acting Comptroller of the Currency Blake Paulson, urging their agencies to stop prioritizing the wishes of Wall Street over the public g...

Waters Announces Updates to March Hearing Schedule

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following updates to the hearing schedule for the month of March: March 10 at 10:00 AM ET: The full Committee will convene for a virtual hearing entitled, “Justice for All: Achieving Racial Equity Through Fair Access to Housing and Financial Services.” March 11 at 10:00 AM ET: The Subc...

Waters to Powell: The Fed Must Use All of the Tools at Its Disposal to Ensure an Equitable and Swift Recovery

| 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 virtual hearing entitled, “Monetary Policy and the State of the Economy.” Welcome back, Chair Powell. Since your last testimony before this Committee, the COVID-19 pandemic has continued to have a devastating impact all across the country. Over 500,00...

Waters, Neal Joint Statement on Dangerous GOP Senate Provision in Coronavirus Negotiations 

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Today, House Committee on Financial Services Chairwoman Maxine Waters (D-CA) and Ways and Means Committee Chairman Richard E. Neal (D-MA) issued the following statement as Senate Republicans demanded the inclusion of a dangerous provision from Senator Pat Toomey (R-PA) in COVID-19 relief legislation that would hamstring the new Administration’s ability to recover from the economic crisis by elimin...

Waters Provides Recommendations to President-Elect Biden on Trump Actions to Reverse

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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...

Waters Demands Regulators Cease and Desist from Finalizing Midnight Rules Until President-Elect Biden Assumes Presidency

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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 ...

Waters Calls Out Mnuchin for Prematurely Ending Essential Emergency Lending Programs

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following statement at a full Committee hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” Today the Committee convenes to conduct oversight over the Treasury Department’s and Federal Reserve’s pandemic response. This pandemic continues to have a...

Waters Applauds Selection of Yellen as Treasury Secretary Nominee

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, applauded President-elect Biden’s historic announcement that he will nominate Janet Yellen to serve as Secretary of the U.S. Department of the Treasury. “Janet Yellen will make an exceptional Treasury Secretary who I know will work diligently to tackle this pandemic crisis and ensure that individual...

Waters, House Chairs Seek Accounting of Political Appointees Burrowing into Career Positions at Dozens of Agencies

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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...

Waters Announces December Hearing Schedule

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following hearing schedule for the month of December: December 2 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” All hearings are livestreamed on https://financialservices.h...

Waters Blasts the Trump Administration’s Move to Shut Down Key CARES Act Facilities Put in Place to Support Economy During the Pandemic

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services Committee, blasted the Trump Administration for the announcement that it is attempting to shut down key emergency lending programs created by the CARES Act to support the economy during the COVID-19 pandemic: “It is clear that Trump and Mnuchin are willing to spitefully destroy the economy and make i...

Waters to Regulators: President-Elect Biden Has a Mandate to Protect Consumers and End Trump's Wall Street First Agenda

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee gave the following statement at a full Committee hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions during the Pandemic.” On November 3, America decisively rejected President Trump, his harmful policies, and his...

Waters, House Committee Chairs Send Dozens of Letters Directing White House and Federal Agencies to Preserve Documents

| Posted in Press Releases

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...

Waters at Oversight Hearing on Pandemic Response: The Trump Administration Has Utterly Failed in Its Economic Response to This Virus

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following statement at a full Committee hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” Welcome back, Chair Powell and Secretary Mnuchin. Since you last testified before this Committee in June, the coronavirus crisis has continued to have a c...

Chairwoman Waters Announces September Hearing Schedule

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following virtual and hybrid hearings for the month of September: September 8 at 12:00 PM – The Subcommittee on Diversity and Inclusion will convene for a virtual hearing entitled, “Holding Financial Regulators Accountable for Diversity and Inclusion: Perspectives from the Offices of M...

Waters, Warren and Gillibrand Introduce Legislation Requiring the Fed to Close Racial Employment and Wage Gaps

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee Subcommittee on Financial Institutions and Consumer Protection, and Senator Kirsten Gillibrand (D-NY), introduced legislation to require the Federal Reserve to use its existing authorities to clo...

Waters at Hearing with Powell and Mnuchin on Pandemic Response: We Cannot Endure Another Unequal Crisis or Unequal Recovery

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following opening statement at a full Committee hearing entitled, “Oversight of the Treasury Department's and Federal Reserve's Pandemic Response.” Secretary Mnuchin, Chair Powell, welcome back. The pandemic continues to have a terrible impact. More than 126,000 people have lost their lives...

Waters Sends Letter to Energy Secretary Condemning Redlining Comments, Pushing Back Against Preferential Treatment for Oil and Gas Sector

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Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Energy Secretary Dan Brouillette regarding comments he made inappropriately comparing decisions by commercial banks not to finance drilling in the Arctic National Wildlife Refuge to redlining. The letter also addresses Brouillette’s assertion that the Trump Administration is working...

Waters Announces Addition to the June Committee Calendar

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following addition to the June Committee calendar: June 30 at 12:30 PM: The full Committee will hold a hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.” This hearing will convene in a “hybrid” format, which provides for remote Member pa...

Waters at Hearing with Fed Chair: Communities of Color Suffering Disproportionately During Pandemic Crisis

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following opening statement at today’s hearing, “Monetary Policy and the State of the Economy.” Chair Powell, the law that required the Federal Reserve Chair to testify before Congress twice each year was established in 1978. However, no Fed Chair has ever testified before this Committee wi...



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