Federal Reserve

Chairwoman Waters Applauds Long-Overdue Fed Decision on Real-Time Payments

| Posted in Press Releases

WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued the following statement on the Federal Reserve’s decision to modernize its interbank payments system into a real-time gross settlement (RTGS) service, which will allow our nation’s consumers to have immediate access to funds deposited into their bank accounts. “The Federal Res... Read more »

Waters and Brown Call on Regulators to Protect Taxpayers and Stability of the Financial System

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System; Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC); and Josep... Read more »

Waters Opening Statement at Markup

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following opening statement at a full committee markup: As Prepared for Delivery Good morning. Today we will mark up a set of bills on a range of issues, including credit reporting, housing, diversity and inclusion, and investor protection. I have long said that our credit reporting sy... Read more »

Waters Asks Fed Chair: If You Got a Call From the President and He Said I’m Firing You, What Would You Do?

| Posted in Press Releases

Today, during the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, posed a question to Chairman Powell regarding what his response would be if President Trump called him and told him he was fired. See the exchange below. ### Read more »

Waters at Fed Hearing: Federal Reserve Independence is Essential

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell. As Prepared for Delivery Today, this Committee convenes for a hearing on monetary policy and the state of the economy. Chairman Po... Read more »

Chairwoman Waters Announces July Hearings

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several Committee hearings for the month of July: Wednesday, July 10 at 10:00 AM — The full Committee will convene a hearing entitled, “Monetary Policy and the State of the Economy.” Wednesday, July 10 at 2:00 PM — The Subcommittee on Investor Protection, Entrepreneurship and Capital Markets ... Read more »

Waters to Prudential Regulators: We Will Not Tolerate Actions that Threaten the Stability of Our Financial System

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement a full Committee hearing on the safety, soundness and accountability of financial institutions with Rodney Hood, Chairman of the National Credit Union Administration (NCUA); Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC); Joseph Otti... Read more »

Waters Writes to Prudential Regulators on Proposed SunTrust/BB&T Merger

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, calling on them to postpone any final decisions on the SunTrust and BB&T merger application until after the Committee has co... Read more »

Waters Supports Consistent Congressional Review of Fed Supervision Efforts

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following floor statement on H.R.974, the Federal Reserve Testimony Clarification Act, bipartisan legislation that clarifies who at the Board of Governors of the Federal Reserve System will testify before Congress on the status of the Federal Reserve’s supervisory efforts. As Prepared for Delivery Mr... Read more »

Waters to Fed Chair: It is Critical that the Federal Reserve Remain Vigilant in Protecting this Economy

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell. Chairman Powell, welcome back to the Committee. I am concerned about some of the actions of President Trump and his Administration... 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 Statement at Hearing with Vice Chairman for Supervision of the Federal Reserve

| Posted in Press Releases

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, Perlmutter and 17 Other Democrats Call on Fed to Maintain Capital Requirements for Megabanks

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, and Congressman Ed Perlmutter (D-CO), Ranking Member of the House Committee on Financial Services Subcommittee on Terrorism and Illicit Finance, led a letter signed by 19 Members of Congress urging the Federal Reserve to maintain strong capital requirements for Global Systemically Important Bank... Read more »

Waters to Fed Chair: Trump’s Policies Threaten Economic Gains Put in Motion During the Obama Administration

| Posted in Press Releases

Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: Thank you, Mr. Chairman, and welcome Chairman Powell. Mr. Chairman, I am very concerned about the impact of the reckless economi... 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 Statement on Federal Reserve’s Approval to Reward Wells Fargo Executives

| Posted in Press Releases

Today, in response to the Federal Reserve’s approval of Wells Fargo's capital plan to increase dividend payments by 10 percent and spend up to $24.5 billion on stock buybacks, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “I am troubled by the Federal Reserve’s recent decision to approve Wells Fargo’s capital plan to ... Read more »

Waters and 42 Democrats Call for Diverse Candidates in Search for Next President of Federal Reserve Bank of San Francisco

| Posted in Press Releases

In a letter to Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, and Alex Mehran, Chair of the Federal Reserve Bank of San Francisco’s Search Committee, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services and 42 Democratic Members of Congress called for a transparent and inclusive search process to identify candidates to re... Read more »

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

| Posted in Press Releases

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 Thank you, Mr. Chairman, and welcome, Vice... Read more »

Waters Statement on the Selection of John Williams as New York Fed President

| Posted in Press Releases

Following the announcement that John Williams will serve as the next president of the Federal Reserve Bank of New York, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, made the following statement: “John Williams is an accomplished economist with a long history in public service. His wealth of experience as a leading monetary policy expert will play... Read more »

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

| Posted in Press Releases

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 in Opposition to Bill that Eases Rules for Megabanks and Predatory Lenders

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following floor statement in opposition to H.R. 4607, a bill that directs regulators, including the Consumer Financial Protection Bureau, to dismantle rules considered inconvenient by the financial services industry despite the harm it may cause consumers or the economy. As Prepared for Deliv... Read more »

At Powell Hearing, Waters Warns of Republican Efforts to Undermine the Fed and Diminish Its Ability to Support American Workers

| Posted in Press Releases

Today, at the semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy with Federal Reserve Chairman Jerome Powell, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement: As Prepared for Delivery Thank you, Mr. Chairman and welcome, Chairman Powell. I look forward to your testimony today on monetar... Read more »

Waters Leads Call for Diverse Candidates in Search for Next President of Federal Reserve Bank of New York

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services and 25 Democratic Members of Congress sent a letter to the Chairman of the Board of Governors of the Federal Reserve System and Co-Chairs of the Federal Reserve Bank of New York’s Search Committee, calling for their commitment to a transparent and inclusive search process to identify candidates to repl... Read more »

Waters Applauds Yellen’s Action to Penalize Wells Fargo for Widespread Consumer Abuses

| Posted in Press Releases

Today, in response to the announcement that the Federal Reserve Board has moved to restrict the growth of Wells Fargo until it sufficiently improves its governance and controls, and that the bank will replace three current board members by April and a fourth board member by the end of the year, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the foll... Read more »

Waters Thanks Janet Yellen for Her Exceptional Service as Chair of the Federal Reserve

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement regarding Janet Yellen, Chair of the Board of Governors of the Federal Reserve System (Federal Reserve). Her term ends on February 3, 2018. “Janet Yellen has led the Federal Reserve with extraordinary distinction and served as a tireless champion for the interests of Ameri... Read more »



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