OCC

Waters Applauds OCC, FDIC, and Federal Reserve Efforts to Undo Damage from Trump-Era Community Reinvestment Act Rule

| Posted in Press Releases
Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Office of the Comptroller of the Currency’s decision to rescind the 2020 Community Reinvestment Act rule and work with the Federal Deposit Insurance Corporation and the Federal Reserve to draft a new rule. “Civil rights laws like the Community Reinvestment Act...

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...

Waters Applauds Senate Action to Protect Consumers from Trump-Era Predatory Lending Practices

| Posted in Press Releases
Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Senate’s passage of S.J. Res 15, sponsored by Senator Chris Van Hollen (D-MD) and U.S. Senate Committee on Banking, Housing, and Urban Affairs Chairman Senator Sherrod Brown (D-OH), which would overturn the Office of the Comptroller of the Currency’s (OCC) so-...

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

| Posted in Press Releases

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 Statement on OCC Action to Halt Proposal to Force Banks to Serve Gun Manufacturers and Fossil Fuel Companies

| Posted in Press Releases
Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Office of the Comptroller of the Currency’s (OCC) decision to pause the publication of a final rule that would place our financial system at risk and force banks to serve gun manufacturers and fossil fuel companies. “I am pleased that the OCC has halted the pu...

Waters and 22 Committee Democrats Urge OCC to Withdraw Proposal to Force Banks to Serve Gun Manufacturers and Fossil Fuel Companies

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Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and 22 other Financial Services Committee Democratic Members sent a letter to Brian Brooks, Acting Comptroller of the Currency, urging him to withdraw an Office of the Comptroller of the Currency (OCC) Notice of Proposed Rulemaking (NPRM) that would increase systemic risks to the financial system an...

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

| Posted in Press Releases

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

| Posted in Press Releases

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 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 Blasts Senate Republicans’ Vote to Abet Redlining By Blocking Resolution Reversing Harmful Community Reinvestment Act Rule

| Posted in Press Releases
Tags: OCC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, issued the following statement after H.J. Res 90, a Congressional Review Act resolution introduced by Chairwoman Waters and Congressman Gregory Meeks (D-NY), Chair of the Subcommittee on Consumer Protection and Financial Institutions, to reverse the harmful Community Reinvestment Act rule finalized ...

Waters’ and Meeks’ Resolution to Reverse the OCC’s Harmful Rule Undermining the Community Reinvestment Act Passes the House

| Posted in Press Releases
Tags: OCC

Today, H.J. Res 90, a Congressional Review Act resolution of disapproval to nullify the OCC’s harmful Community Reinvestment Act rule introduced by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Gregory Meeks (D-NY), Chair of the Subcommittee on Consumer Protection and Financial Institutions, passed the U.S. House of Representatives. See b...

Waters and Meeks Introduce Congressional Review Act Resolution to Reverse Harmful Rule to Weaken the Community Reinvestment Act

| Posted in Press Releases
Tags: OCC, FDIC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Gregory Meeks (D-NY), Chair of the Subcommittee on Consumer Protection and Financial Institutions, introduced a Congressional Review Act resolution to reverse the harmful Community Reinvestment Act (CRA) rule recently finalized by the Office of the Comptroller of the Currency. Chairwoma...

Waters Blasts Acting Comptroller Brooks’ Letter Pressuring State and Local Governments to End Measures to Combat COVID-19

| Posted in Press Releases
Tags: OCC, COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement regarding a letter that Acting Comptroller of the Currency Brian Brooks sent to the National League of Cities, the U.S. Conference of Mayors, and the National Association of Governors regarding efforts to combat COVID-19. “With this inappropriate letter pressuring city a...

Waters Statement on OCC Rule on Interest on Transferred Loans

| Posted in Press Releases
Tags: OCC, COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, issued the following statement regarding the Office of the Comptroller’s issuance of a final rule on interest rates on transferred loans: “It is shameful that on his first day on the job, new Acting Comptroller Brian Brooks is already following in Comptroller Otting’s footsteps in working to undermi...

Waters Blasts Otting’s Departing Act to Weaken CRA During COVID-19 Pandemic

| Posted in Press Releases
Tags: OCC, COVID-19

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, made the following statement in response to the Office of the Comptroller of the Currency’s (OCC) issuance of a final rule weakening the implementation of the Community Reinvestment Act (CRA): “It is simply outrageous that in the midst of the Coronavirus pandemic and on his way out the door, Comptrolle...

Committee Holds Bipartisan Virtual Roundtable with Prudential Regulators

| Posted in Press Releases

Yesterday, the Consumer Protection and Financial Institutions Subcommittee held a virtual roundtable with prudential regulators entitled, “Update from Prudential Regulators.” The virtual roundtable panelists included: The Honorable Rodney Hood, Chairman, National Credit Union Administration The Honorable Jelena McWilliams, Chairman, Federal Deposit Insurance Corporation The Honorable Joseph Otting...

Committee to Hold Bipartisan Virtual Roundtable with Financial Regulators

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced that on Wednesday, May 13, Consumer Protection and Financial Institutions Subcommittee Chairman Gregory Meeks (D-NY) and Ranking Member Blaine Luetkemeyer (R-MO) will host a virtual roundtable discussion entitled, “Update from Prudential Regulators.” Panelists for the virtual roundtable in...

Committee Democrats Call on Regulators to Suspend CRA and Other Rulemakings Unrelated to COVID-19

| Posted in Press Releases

This week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, led a letter to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, urging them to prioritize a strong response to the COVID-19 pandemic and suspend efforts to revise the Community Reinvestment Act (CRA) and any unrelated rulemak...

Waters Leads Letters Calling on Regulators and Financial Institutions to Protect Americans and the Financial System from Impact of Coronavirus

| Posted in Press Releases

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...

Waters to Wells Fargo CEO: The Bank You Inherited is Essentially a Lawless Organization

| Posted in Press Releases

Following the release of a Majority staff report entitled, “The Real Wells Fargo: Board & Management Failures, Consumer Abuses, and Ineffective Regulatory Oversight,” Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, convened a full Committee hearing with Charles W. Scharf, Chief Executive Officer (CEO) and President of Wells Fargo & Company. See the Chai...

In Advance of Wells Fargo Hearings, Waters and Green Release Investigative Report Exposing Failures of Megabank’s Management, Board, and Regulators

| Posted in Press Releases

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, released a Majority staff report entitled, “The Real Wells Fargo: Board & Management Failures, Consumer Abuses, and Ineffective Regulatory Oversight.” This report is a result of a one-year Committee inves...

Waters Wins Extension of Comment Period for CRA Rule

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, made the following statement in response to the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) announcement that the comment period for the agencies’ proposed Community Reinvestment Act (CRA) rule will be extended by 30 days, giving the public 90 days t...

Otting Finally Appears Before Committee to Explain Harmful Community Disinvestment Proposal

| 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 hearing entitled, “The Community Reinvestment Act: Is the OCC Undermining the Law’s Purpose and Intent?” As Prepared for Delivery Today this Committee convenes for a hearing to conduct oversight of the Office of the Comptroller of the Cur...

Waters Opens Investigation of Potential Astroturfing Efforts to Influence OCC and FDIC Community Reinvestment Act Rulemaking; Demands Agencies Explain Efforts to Ensure Legitimacy of Proposed CRA Rule

| Posted in Press Releases
Tags: OCC, FDIC

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent letters to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC), requesting information on the regulators’ systems and policies for receiving and reviewing comments during the Community Reinvestment Act (CRA) rulemaking pro...

Chairwoman Waters Announces Updates to Committee Schedule

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several updates to the Committee schedule: January 14 at 10:00 AM – The full Committee will convene for a hearing entitled, “On the Brink of Homelessness: How the Affordable Housing Crisis and the Gentrification of America Is Leaving Families Vulnerable.” January 14 at 2:00 PM – The Subcommit...



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