FHFA

Waters Slams Trump Administration’s Harmful, Rushed Actions to Limit Activities of GSEs, Bail Out Hedge Funds

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement in response to changes that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency (FHFA) Director Mark Calabria made to Treasury’s ownership stake in the government sponsored enterprises, Fannie Mae and Freddie Mac. “It is simply unacceptable that Treasury... Read more »

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... Read more »

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 ... Read more »

Waters Urges Calabria to Halt Efforts to Release the GSEs from Conservatorship, Calls for Testimony Before Committee

| Posted in Press Releases
Tags: FHFA

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, sent a letter to Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), urging him to fully engage with Congress, halt all efforts to raise the capital requirements for Fannie Mae and Freddie Mac and halt all efforts to release them from conservatorship. The letter also requests that ... Read more »

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

| Posted in Press Releases

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... Read more »

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... Read more »

Waters Statement on the Federal Housing Finance Agency’s Inadequate Response to the COVID-19 Pandemic

| 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 hearing entitled, “Prioritizing Fannie’s and Freddie’s Capital over America’s Homeowners and Renters? A Review of the Federal Housing Finance Agency’s Response to the COVID-19 Pandemic.” Today, this Committee convenes for a hearing to conduct oversigh... Read more »

Chairwoman Waters Announces September Hearing Schedule

| Posted in Press Releases

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... Read more »

Waters Calls on FHFA to Scrap Unnecessary Refinance Penalty

| Posted in Press Releases
Tags: FHFA

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the Financial Services Committee, issued the following statement following the Federal Housing Finance Agency’s (FHFA) announcement that it would delay its recently announced adverse market fee for refinance mortgages: “Just two weeks ago, Director Calabria approved an outrageous penalty, in the middle of a pandemic and an economic recession... Read more »

Waters, Clay, and Heck Request Housing Finance Regulator Pause Rulemaking Increasing Capital for Fannie Mae and Freddie Mac

| Posted in Press Releases
Tags: FHFA

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, Congressman Wm. Lacy Clay (D-MO), Chair of the Subcommittee on Housing, Community Development and Insurance, and Congressman Denny Heck (D-WA), sent a letter to Dr. Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), urging the agency to prioritize economic recovery amid the COVID-19 pand... Read more »

Waters, Clay and Vargas Urge HUD and FHFA to Amend Policies that are Reducing Access to Mortgage Credit for People of Color

| Posted in Press Releases
Tags: HUD, FHFA

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, Congressman Wm. Lacy Clay (D-MO), Chair of the Subcommittee on Housing and Insurance, and Congressman Juan Vargas (D-CA), sent a letter to Ben Carson, Secretary of the U.S. Department of Housing and Urban Development (HUD), and Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), ca... Read more »

House Passes Four Bipartisan Financial Services Bills

| Posted in Press Releases

Yesterday, the U.S. House of Representatives passed bipartisan financial services bills to protect servicemembers from predatory debt collectors, improve the availability of affordable housing and mortgage credit, and address concerns that China is trapping developing nations in a cycle of predatory debt. The bills passed include: The Fair Debt Collection Practices for Servicemembers Act (H.R. 500... Read more »

Waters Slams Trump’s Record on Housing, Outlines Long-Standing Democratic Housing Finance Reform Principles at Hearing with Mnuchin, Carson and Calabria

| 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, “The End of Affordable Housing? A Review of the Trump Administration’s Plans to Change Housing Finance in America.” As Prepared for Delivery Today we are here to discuss the impact of the Trump Administration’s housing finance reform pl... Read more »

Waters and Brown Call on Otting to Detail His Plans for FHFA

| Posted in Press Releases
Tags: GSE, OCC, FHFA

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 Joseph Otting, Comptroller of the Currency, following President Trump’s appointment of Otting to serve as Acting Director of the Federal Housing Finance Agency (FHFA). Ch... Read more »

Waters Statement at Federal Housing Finance Agency Oversight Hearing

| Posted in Press Releases
Tags: GSE, FHFA

Today, at a hearing entitled, “Oversight of the Federal Housing Finance Agency’s role as conservator and regulator of the Government Sponsored Enterprises,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, gave the following statement: As Prepared for Delivery Thank you very much, Mr. Chairman. We are here today for a hearing on oversight of the Federal... Read more »

At Subcommittee Hearing, Water’s Presses ICE Official on Agency’s Role in Human Rights Abuses Occurring on the Border

| Posted in Press Releases

Today, at a Terrorism and Illicit Finance Subcommittee hearing entitled “Illicit Use of Virtual Currency and the Law Enforcement Response,” Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following statement: As Prepared for Delivery Thank you for scheduling today’s hearing to examine the illicit uses of virtual currency and the law enforcement r... Read more »

Waters Introduces Bill to Improve Protections for Homeowners Facing Foreclosure

| Posted in Press Releases
Tags: GSE, FHA, FHFA

The bill comes on the heels of Ranking Member Waters’ bill to prevent foreclosures on FHA Borrowers. A decade after the devastating foreclosure crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, continues the fight to ensure hardworking Americans can remain in their homes by introducing H.R. 6102, the Homeowner Mortgage Servicing Fairness Act o... Read more »

Waters Commends Mel Watt for Continued Funding of the National Housing Trust Fund and the Capital Magnet Fund

| Posted in Press Releases
Tags: GSE, FHFA

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, released a statement in response to the release of Fannie Mae’s fourth quarter and full-year 2017 earnings report, and the Federal Housing Finance Agency’s (FHFA) decision for Fannie Mae and Freddie Mac to proceed with the allocation of funding to the Housing Trust Fund and Capital Magnet Fund in 2018... Read more »

Waters Opening Statement at Hearing with FHFA Director Watt

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, gave the following opening statement at a full committee hearing entitled “Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency.” As Prepared for Delivery Today we welcome back our former colleague and my good friend, Federal Housing Finance Agency Director Me... 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, Committee Democrats Push for Strong ‘Clawback’ Rule After Wells Fargo Scandal

| Posted in Press Releases

In light of more than 2 million fraudulent deposit and credit card account openings at Wells Fargo, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, and 10 Committee Democrats urged financial regulators to strengthen a proposed “clawback” rule regarding when a financial institution must revoke senior executives’ bonuses. In their letter, the Members unders... Read more »

Waters, Tri-Caucus Announce Diversity Report Next Steps, Responses from Federal Financial Services Regulators

| Posted in Press Releases

In response to a Democratic staff report highlighting shortcomings in personnel diversity policies and practices at seven major financial regulators, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, along with senior members of the panel and members of the Tri-Caucus, released the agencies’ responses to the report’s recommendations for enhancing diversity ... 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 »

Racial Disparities Present at Most Bank Regulators, Democrats Allege

| Posted in In Case You Missed It

The Consumer Financial Protection Bureau is not alone in having racial disparities in its performance reviews, according to a report issued Thursday by the Democrats on the House Financial Services Committee. The report found that all seven bank, credit union and market regulators displayed significant disparities in employee evaluations, particularly among African-Americans who received lower-tha... Read more »



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