Money Laundering

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 and Committee Democrats Press Mnuchin on Suspicious Activity Reports Related to Trump Associates

| Posted in Press Releases

WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Dan Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigation... Read more »

Committee Dems Introduce Resolution of Inquiry to Follow Trump Money Trail

| Posted in Press Releases

Throughout the controversy surrounding the Trump Administration’s suspicious and undisclosed financial dealings and business partnerships, House Financial Services Committee Democrats have remained committed to following the money trail. Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the Committee ... Read more »

Waters and House Committee Democrats Introduce Resolutions of Inquiry to Hold the Trump Administration Accountable

| Posted in Press Releases

WASHINGTON - Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, joined Democratic Leader Nancy Pelosi and other House Democratic Committee leaders to highlight House Republicans’ failure to investigate and conduct adequate oversight of the Trump Administration. At the press conference, Ranking Member Waters stressed the urgency behind investigating th... Read more »

Committee Dems to Deutsche Bank: Do Not Withhold Information from Congress on Trump and Russia

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel T. Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight and Investigations, and Congressman E... Read more »

Committee Dems Request Information from Deutsche Bank on Russia Money Laundering Scheme and Trump Accounts

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, Congressman Daniel Kildee (D-MI), Vice Ranking Member of the Committee on Financial Services, Congresswoman Gwen Moore (D-WI), Ranking Member of the Subcommittee on Monetary Policy and Trade, Congressman Al Green (D-TX), Ranking Member of the Subcommittee on Oversight & Investigations, and Congressman... Read more »

Waters Pushes for Greater Anti-Money Laundering Oversight

| Posted in Press Releases

Today, at a Terrorism and Illicit Finance hearing entitled “Safeguarding the Financial System from Terrorist Financing,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following statement: As Prepared for Delivery Thank you, Mr. Chairman. One of the key issues this subcommittee will be looking at is the adequacy of current information-shari... Read more »

Waters Statement on Reports that ExxonMobil Applied for Waiver from U.S. Sanctions on Russia

| Posted in Press Releases

WASHINGTON - In response to reports that ExxonMobil has requested special permission from the U.S. Treasury Department’s Office of Foreign Assets Control to be exempted from U.S. sanctions imposed in response to Russia’s aggression in Ukraine and its violations of international law, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following state... Read more »

On House Floor, Waters Warns that Iran Reporting Bill Could Destabilize Nuclear Deal

| Posted in Press Releases

Delivering remarks on the House floor in opposition to H.R. 5461 today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, denounced the “Iranian Leadership Asset Transparency Act” as an attempt to threaten the viability of the Iran nuclear deal. In her remarks, Waters noted that this bill is the “latest in a series of Republican efforts aimed at undermining... Read more »

Waters Moves to Sharpen Bank Vigilance in Response to Recent Attacks in California and Abroad

| Posted in Press Releases

In response to recent violent attacks in San Bernardino, CA and abroad, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, has re-introduced legislation to heighten accountability on financial institutions to improve anti-money laundering and counter-terrorism safeguards. By holding bank executives personally liable and increasing penalties for willful and n... Read more »

Financial Services Democrats Challenge GOP Views on Inequality Issues

| Posted in Press Releases

Over the course of a two-day markup of Republican fiscal year 2016 budgetary priorities in the financial services sector, Financial Services Committee Democrats fought back against a Republican effort to eliminate taxpayer protections and undermine the social safety net. Led by Ranking Member Maxine Waters (D-CA), Democrats fiercely opposed rampant mischaracterizations of critical federal agencies... Read more »

Waters Expresses “Outrage” at HSBC Swiss Bank Violations

| Posted in Press Releases

In response to recent revelations that HSBC, the second largest commercial bank in the world, committed numerous violations of U.S. and international tax and finance laws, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed her concern at the continued lack of accountability for the individuals associated with providing financial services for some of t... Read more »

Waters Statement on Terrorist Financing and the Islamic State

| Posted in Press Releases

At today’s Financial Services Committee Hearing focused on Terrorist Financing and the Islamic State, Ranking Members Maxine Waters (D-CA) discussed the seriousness of the threat from ISIL and the challenges to curtailing its current, largely internal funding stream. However, the Ranking Member also underscored importance of strengthening our counter-terrorism and anti-money laundering laws, parti... Read more »

Leading House Democrats Iintroduce Bills To Deter Money Laundering and Hold Executives Responsible

| Posted in Press Releases

In the wake of massive money laundering scandals at U.S. banks that allowed terrorist, drug and other illicit money to flow through the economy, two leading Democratic lawmakers introduced two measures to crack down on misconduct and help clean up the system. Rep. Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Rep. Carolyn Maloney (D-NY), the ranking member o... Read more »

Waters, Maloney Bills Crack Down On Money Laundering

| Posted in In Case You Missed It

WASHINGTON — Senior House Democrats introduced legislation Thursday designed to give regulators additional authority to go after bank executives at institutions involved in money laundering scandals. The two bills, by Reps. Maxine Waters, D-Calif., the top Democrat on the House Financial Services Committee, and Carolyn Maloney, D-N.Y., come on the heels of HSBC's landmark $1.9 billion settlement w... Read more »

New Anti-Money Laundering Bill Targets Bank Executives

| Posted in In Case You Missed It

A House Democrat plans to introduce a bill Wednesday that would toughen anti-money laundering laws by placing an emphasis on penalties for executives and giving a Treasury Department bureau greater enforcement powers. The “Holding Individuals Accountable and Deterring Money Laundering Act” highlights some lawmakers’ dissatisfaction with recent money-laundering penalties and provides a new roadmap ... Read more »

US Congress Moves to Tighten Money Laundering Laws

| Posted in In Case You Missed It

Efforts to fight money laundering and empty shell companies would be strengthened by two bills introduced in the US Congress on Wednesday, by giving federal regulators enhanced powers to hold bank executives personally responsible for misdeeds. The move in the US House of Representatives comes after banks had to pay at least $5bn in fines and settlements to resolve allegations of laundering money ... Read more »

Waters Statement on Government Shutdown

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement on the Republican-imposed government shutdown. “The irresponsibility of the Republican Party cannot be overstated. As we slowly emerge from the worst economic crisis in over 70 years, I am saddened that ideological extremism has led to another self-inflicted wound that could have di... Read more »

Waters Calls for Aggressive Prosecution of Financial Institutions Involved in Drug Money Laundering

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, lit up a committee hearing Wednesday by calling for aggressive prosecution of financial institutions involved in the laundering of illegal drug money. The hearing, held by the Oversight and Investigations Subcommittee of the House Committee on Financial Services, focused on the question of whether large financia... Read more »

Ranking Member Waters Commends Enforcement Actions by DOJ Encourages Further Steps

| Posted in Press Releases

Congresswoman Maxine Waters, ranking member of the House Financial Services Committee, today released a letter to Attorney General Eric Holder commending recent work by the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and banking regulators in investigating and prosecuting wrongdoing related to LIBOR manipulation, money laundering and violations of the Bank Secrecy... Read more »



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