Department of the Treasury

Waters Denounces Confirmation of Foreclosure King Steven Mnuchin as Treasury Secretary

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement today in response to the U.S. Senate’s confirmation of Steven Mnuchin as Secretary of the U.S. Department of the Treasury: “I am extremely disappointed in Senate Republicans for clearing the way for yet another Wall Street insider to take a critical leadership position in the... Read more »

Does He or Doesn’t He? Mnuchin’s Confirmation Hearing Raises Questions

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following Steven Mnuchin’s confirmation hearing to become Treasury Secretary before the Senate Finance Committee: “What we saw during yesterday’s hearing has only increased my concerns about how the incoming Trump Administration is going to effectively govern. The confir... Read more »

Waters Calls for HUD, DOJ to Release OneWest Investigation Documents

| Posted in Press Releases

Following her statement denouncing President-elect Trump’s nomination of Steve Mnuchin as Treasury Secretary, Congresswoman Maxine Waters (D-CA) called on the Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) to immediately release documents pertaining to investigations into any fraudulent or discriminatory activities committed by Mnuchin’s bank, OneWest. Congre... Read more »

Waters: California Foreclosure King Mnuchin’s Actions Disqualify Him from Being Treasury Secretary

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released the following statement in response to a memo leak documenting widespread misconduct at OneWest, a bank that was headed by President-elect Trump’s Treasury nominee, Steve Mnuchin. The leaked memo exposes the bank’s violation of notice and waiting period statues, which subsequently forced struggling ... Read more »

Waters: H.R. 6392 is First Step in Trump Agenda to Deregulate Wall Street

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 6392, a bill that would let President-elect Trump’s Wall Street-friendly administration deregulate 27 of the largest banks in the country. “H.R. 6392 would repeal Dodd-Frank’s $50 billion threshold, above which banks are subject to closer regulatory scrutiny, and preven... Read more »

Waters: Mnuchin Got Rich Off Foreclosure Crisis

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on reports that President-elect Trump will nominate Steven Mnuchin to serve as the next Treasury Secretary: “Donald Trump ran a campaign on anti-Wall Street rhetoric, but appointing a former hedge fund manager, Goldman Sachs executive, and bank CEO as Treasury Secretary shows h... Read more »

Waters, Ranking Financial Services Democrats Call On Inspectors General to Hold Trump Administration Accountable

| Posted in Press Releases

Today, top Democrats on the House Financial Services Committee sent a letter to Inspectors General at federal financial services agencies, the Department of Housing and Urban Development, and the Department of Justice, calling on them to root out any potential conflicts of interests in President-elect Donald Trump’s administration. Led by Ranking Member Maxine Waters (D-CA), the letter was also si... Read more »

Waters Opposes Bill to Undermine Iran Nuclear Deal, Warns of Global Risks Under Trump

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, spoke on the House floor opposing H.R. 5711, a bill that would undermine the Iran nuclear deal, thereby jeopardizing both U.S. and global security. “I am particularly concerned that this bill comes at a time of deep global uncertainty about U.S. foreign policy," Waters said. "We have a President-elect whose ... Read more »

Waters, Moore Urge World Bank to Adopt International Labor Standards

| Posted in Press Releases

As a massive overhaul of the World Bank’s long-standing social and environmental safeguard policies moves to its final stage, two leading House members on international development issues expressed concern over the Bank’s proposed safeguards on worker rights. In a letter to Treasury Secretary Jacob J. Lew, Reps. Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and Gw... Read more »

Waters Opening Statement at Full Committee Hearing on the State of the International Financial System

| Posted in Press Releases

At today’s Financial Services Committee hearing with Treasury Secretary Jack Lew, Ranking Member Maxine Waters (D-CA) lauded the efforts of U.S. Treasury officials and Democratic congressional leaders on the recent ratification of the International Monetary Fund (IMF) quota reform package, after a 5-year delay due to Republican obstruction. Waters delivered these remarks during today’s hearing on ... Read more »

Waters Commends FSOC’s Actions to Prevent Another Crisis

| Posted in Press Releases

During a hearing where members of the Financial Stability Oversight Council, or FSOC, appeared before the full Committee, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, underscored the need for a coordinating regulatory body in the wake of the financial crisis and highlighted its work to provide stability to investors, consumers and our national economy.... Read more »

Rep. Waters, Tri-Caucus Release Staff Report on Federal Financial Services Agencies’ Workforce Diversity Efforts

| Posted in Press Releases

Federal financial services agencies have yet to reflect the racial and ethnic diversity of the American population in their workforces – this according to a Democratic Financial Services Committee staff report released during a press conference today led by Rep. Maxine Waters (D-CA), Ranking Member of the Financial Services Committee. Senior Democratic Members in attendance included the Chairs of ... Read more »

Missing Citigroup Checks Spur Lawmaker to Call for Investigation

| Posted in In Case You Missed It

Citigroup Inc.’s failure to pay 24,000 people owed money as part of a settlement with the government over foreclosure abuses has prompted a U.S. lawmaker to call for an investigation into whether banks missed other borrowers. Maxine Waters, the senior Democrat on the House Financial Services Committee, sent a letter Friday to the inspectors general of the Federal Reserve and the Treasury Departmen... Read more »

Waters: Consequences of Failing to Approve IMF Quota Reform Package are Serious

| Posted in Press Releases

At today’s Financial Services Committee hearing with Treasury Secretary Jack Lew, Ranking Member Maxine Waters (D-CA) continued to express her disappointment with the Republican refusal to ratify the International Monetary Fund (IMF) quota reform package. In her remarks, Waters underscored the importance of approving the package, and laid out the harmful impact delaying these reforms will have on ... Read more »

Leading House Members Urge Administration to Elevate Financial Stability in Trade Talks with E.U.

| Posted in Press Releases

This week, Democratic leaders of the House Financial Services Committee and the Congressional Progressive Caucus expressed concern that a trade deal currently under negotiation between the U.S. and the European Union could restrict the ability of Congress to enact measures aimed at promoting growth and stability and protecting the rights of consumers. In a letter led by Congresswoman Maxine Waters... Read more »

Waters Touts Importance of Wall Street Watchdog

| Posted in Press Releases

At today’s full committee hearing to discuss the Financial Stability Oversight Council (FSOC) with Treasury Secretary Jack Lew, Congresswoman Maxine Waters (D-CA) highlighted the important work of the Council in identifying systemic risk and protecting American homeowners, consumers, and the economy. Specifically, the Ranking Member of the Committee on Financial Services reminded FSOC’s critics th... Read more »

Waters Discusses Republican Refusal to Ratify IMF Quota Reform Package

| Posted in Press Releases

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters expressed her disappointment that House Republicans have refused to ratify the International Monetary Fund (IMF) quota reform package, she underscored its importance, and laid out the harmful impact delaying these reforms will have on global stability. Waters delivered these remarks during today’s... Read more »

Waters Statement on GSE Repayment of Taxpayer Funds

| Posted in Press Releases

Today, Government Sponsored Enterprise (GSE) Fannie Mae announced it has earned a fourth quarter profit of $6.5 billion in 2013 and will repay $7.2 billion to the U.S. Department of the Treasury in March. The payment will mean the company has returned $121.1 billion back to the taxpayers –returning even more than the $116.1 billion it received after being taken over by the government in 2008. Thi... Read more »

Waters Discusses Growing Income Inequality

| Posted in Press Releases

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters discussed the issue of growing income inequality and called for action by increasing the minimum wage, extending unemployment insurance, and providing trade adjustment and other assistance for those in the U.S. clustered in the low-skill end, who are disadvantaged by globalization. She delivered t... Read more »

Waters: Debt Ceiling is Non-Negotiable

| Posted in Press Releases

With only 13 days until the nation reaches its debt limit, and in the aftermath of the Department of Treasury’s report on the impact of defaulting on our debt, Congresswoman Maxine Waters (D-CA) today called on Republicans to stop threatening the nation’s economy to move their ideological priorities. She released the following statement: “As if the consequences of a government shutdown are not bad... 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 »

Ranking Member Waters Joins Sen. Blumenthal, Rep. Capps to Urge Obama Administration to Protect Surviving Spouses from Foreclosure

| Posted in Press Releases

Today, Ranking Member Maxine Waters (D-Calif.), joined U.S. Senator Richard Blumenthal (D-Conn.) and Lois Capps (D-Calif.), in sending a letter to eight executive agencies urging them to protect surviving spouses from foreclosure. This segment of the homeowner population – often women in their later years – faces unique circumstances that unfairly deprive them of opportunities to avoid losing thei... Read more »

Ranking Member Waters' Opening Statement at Today's Hearing with Treasury Secretary Lew

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following statement at today's full Committee hearing with Treasury Secretary Lew: Thank you very much Mr. Chairman. I am very pleased to welcome Secretary Lew to his first appearance before the Financial Services Committee to deliver the annual report of the Financial Stability Oversight Council a... Read more »

Waters’ Opening Statement at Mark-up on Derivatives Legislation

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, made the following statement at a meeting of the Committee held today to mark up legislation addressing the nation’s derivatives markets: Mr. Chairman, thank you for holding this mark-up this morning on a broad package of bills related to a wide-range of issues facing this Committee. Let me open this mark-up dis... Read more »

Waters Calls for Action on “Living Wills”

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today sent a letter to Treasury Secretary Jack Lew, Chairman of the Financial Stability Oversight Council (FSOC), seeking to elicit his views on the progress of the “living wills” provision of the Wall Street Reform and Consumer Protection Act of 2010. The provision requires the nation’s largest bank holding com... Read more »



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