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

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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...

Waters, Committee Democrats Push for Strong ‘Clawback’ Rule After Wells Fargo Scandal

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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...

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 ...

Waters Commends FSOC’s Actions to Prevent Another Crisis

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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....

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 ...

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...

*** MEDIA ADVISORY*** Waters, Tri-Caucus to Release Committee Democratic Staff Report on Diversity at Financial Services Agencies

| Posted in Press Releases

On Thursday, November 5, 2015 at 10:00 a.m., Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, will join representatives and chairs of the tri-caucus to unveil a report, highlighting federal financial services agencies’ current compliance with federal diversity provisions, trends in performance review evaluations and workforce diversity throughout these age...

Waters Commends FHFA's Action Protecting Homeowners from Fraud and Abuse

| Posted in Press Releases
Tags: FHFA

Following the release of newly drafted non-bank servicer requirements today, Congresswoman Member Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, commended the Federal Housing Finance Agency for taking positive steps toward establishing protections to prevent American homeowners and taxpayers from falling victim to fraud and abuse. Waters, a strong advocate for safe...

At Hearing, Waters Commends FHFA Director For Expanding Housing Opportunities

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In advance of testimony by Federal Housing Finance Agency (FHFA) Director Mel Watt before the House Financial Services Committee, Ranking Member Maxine Waters (D-CA) commended the Agency’s efforts to ensure that America’s housing market remains affordable and works for everyone. At a hearing to receive an “An Update from the Director of the Federal Housing Finance Agency,” which is charged with ov...

Waters Lauds Action to Support Housing Trust Fund

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Tags: FHFA

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, praised today’s announcement by Federal Housing Finance Agency (FHFA) Director Mel Watt that he will finally fund the Housing Trust Fund, a permanent federal fund that focuses on providing support to states to build, preserve and ultimately increase the supply of affordable rental housing for extremely lo...

Waters Applauds Inspector General’s Investigation of Force-Placed Insurance

| Posted in Press Releases
Tags: FHFA

Following the release of a report from the Federal Housing Finance Agency (FHFA) Office of Inspector General (OIG) urging officials to take legal action against servicers and insurers over practices related to force-placed insurance, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, praised the FHFA for investigating the issue, and raised concerns about the report’s ...

Waters Calls on Regulators to Ensure Mortgage Servicers Continue to Protect Homeowners

| Posted in Press Releases
Tags: CFPB, OCC, HUD, FHFA

Following widespread concern over the actions of a number of independent mortgage servicers, Congresswoman Maxine Waters (D-CA), top Democrat on the Financial Services Committee, has called on government regulators to take action that will protect homeowners from abuses that have led to stalled modifications, excess fees and even foreclosure. In a letter to Comptroller of the Currency Thomas Curry...

Waters Statement on Confirmation of Mel Watt as Director of FHFA

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Tags: FHFA

Following the confirmation of Congressman Mel Watt (D-NC) as Director of the Federal Housing Finance Agency, Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in strong support. “I am elated that after months of uncertainty and obstruction, the U.S. Senate has finally confirmed Congressman Mel Watt to head the Federal Housing Fin...

Democratic Members Of The Financial Services Committee Urge Confirmation Of Mel Watt

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Tags: FHFA

As the U.S. Senate prepares to vote on the nomination of Congressman Mel Watt (D-NC) to be Director of the Federal Housing Finance Agency (FHFA), the Democratic members of the House Committee on Financial Services have expressed their strong support for his nomination and urged his immediate confirmation. In a letter to Senate leaders Harry Reid (D-NV) and Mitch McConnell (R-KY), Watt’s 27 Committ...

Waters Statement on Senate Blockage of Mel Watt to Lead FHFA

| Posted in Press Releases
Tags: GSE, FHFA

Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in reaction to the failure of the U.S. Senate to invoke cloture on Melvin L. Watt as Director of the Federal Housing Finance Agency. “I am extremely disappointed that the U.S. Senate has blocked the nomination of Mel Watt to head the Federal Housing Finance Agency. Mel has over fo...

Republicans Block Nomination of Mel Watt to be Key Housing Regulator

| Posted in In Case You Missed It
Tags: GSE, FHFA

The nomination of Rep. Mel Watt to be the regulator for housing finance giants Fannie Mae and Freddie Mac failed a key procedural vote Thursday because of strong Republican opposition.. President Obama nominated Watt, a veteran Democrat from North Carolina, in May to be director of the Federal Housing Finance Agency. But attempts to bring his nomination to a vote by the full Senate failed Thursday...

Waters Calls on Senate to Confirm Mel Watt as Director of FHFA

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Tags: FHFA

At a press conference calling on the U.S. Senate to confirm Melvin L. Watt as Director of the Federal Housing Finance Agency, Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in strong support. “I am pleased that the U.S. Senate is moving forward with the nomination of Representative Mel Watt to head the Federal Housing Finance ...

Waters Applauds Watt's Testimony, Calls for Senate Prompt Action on His Nomination

| Posted in Press Releases
Tags: FHFA

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, offered the following statement today in response to the Senate Banking Committee hearing on the nomination of Congressman Melvin L. Watt to be Director of the Federal Housing Finance Agency. Ranking Member Waters previously endorsed Congressman Watt’s nomination stating that he is an individual that is “accepti...

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...

Maxine Waters Commends the Nomination of Mel Watt to lead the FHFA

| Posted in Press Releases
Tags: FHFA

Congresswoman Maxine Waters offered the following statement today in response to news that President Barack Obama will nominate Congressman Melvin L. Watt to be Director of the Federal Housing Finance Agency. It is with high regard and great respect that I endorse the nomination of Representative Mel Watt to head the Federal Housing Finance Agency. We are at a crossroads in our economic recovery, ...

Waters Commends Change in FHFA Policy Regarding Force-Placed Insurance

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Tags: FHFA

Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, today commended a proposal by the Federal Housing Finance Agency (FHFA) that would ban the payment of lucrative commissions and reinsurance fees to banks in return for their purchase of “force-placed” insurance. Currently, mortgage servicers are permitted to require homeowners to purchase property and casual...

Ranking Member Waters’ Opening Statement at Hearing on the Federal Housing Finance Agency

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today made the following opening statement at the full committee hearing on the Federal Housing Finance Agency (FHFA). The FHFA is conservator of the Government Sponsored Enterprises, Fannie Mae and Freddie Mac. Edward DeMarco, Acting Director of the FHFA, will appear before the committee as a witness today. Tha...

Waters Raises Questions about FHFA Decision to Stop Force-Placed Insurance Reform

| Posted in Press Releases
Tags: FHFA

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released a letter to Edward DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA) raising questions about FHFA’s recent decision to prohibit Fannie Mae from moving forward with a plan to save taxpayers and borrowers from unnecessarily high costs related to force-placed insurance (FPI). FPI ...

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