News List

Democratic Lawmakers Call on FTC to Review Marketing Practices of Consumer Reporting Agencies

| Posted in Press Releases

A coalition of Democratic lawmakers on the House Financial Services Committee today called on the Federal Trade Commission (FTC) to review the online marketing practices of nationwide Consumer Reporting Agencies, or CRAs. Specifically of concern are the offers of purported “free” services that often put consumers at risk of inadvertently purchasing expensive products and services, such as credit m... Read more »

Waters Congratulates CDFI Fund Director Donna Gambrell for her Years of Service

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA) Ranking Member of the House Financial Services Committee, today congratulated Donna Gambrell, Director of the Community Development Financial Institutions Fund (CDFI Fund), on her 37 years of public service. Gambrell recently announced her retirement, effective on December 28, 2013. Waters released the following statement: “For six years, Donna Gambrell has usher... Read more »

Waters Encouraged by Improvements at FHA

| Posted in Press Releases
Tags: FHA

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to the release of the Federal Housing Administration’s fiscal year 2013 Annual Report: “Although the Federal Housing Administration is not completely out of the woods, today’s numbers show crucial improvements in its solvency and stability. FHA’s Mutual Mortgage Insuranc... 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 Touts Fed’s Effectiveness, Cautions Congress on “Reform”

| Posted in Press Releases

Today, at a hearing to examine the mandates of the Federal Reserve, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, underscored the success of the Fed in stabilizing markets and reducing unemployment in the wake of the financial crisis. She also cautioned lawmakers seeking to make legislative changes to the Fed or its mandate that Congress should allow it to finali... Read more »

Waters Statement on Insurance Modernization Report

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, today commented on the release of the U.S. Department of the Treasury’s Federal Insurance Office (FIO) report to Congress on “How to Modernize and Improve the System of Insurance Regulation in the United States.” The FIO was created by the Dodd-Frank Wall Street Reform Act of 2010, and makes recommendatio... Read more »

Waters: Cassidy Flood Insurance Bill Provides No Assistance to Those Already Hurting

| Posted in Press Releases

In reaction to legislation introduced by Rep. Bill Cassidy (R-LA), Congresswoman Maxine Waters (D-CA) the top Democrat on the Financial Services Committee and co-author of the Biggert-Waters flood insurance bill, today expressed her strong opposition to the measure. “Time and again, I have made clear that I am committed to resolving the problems that have resulted from the implementation of the Bi... Read more »

Waters Statement on Volcker Rule

| Posted in Press Releases

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement following the approval of the “Volcker Rule,” which bans proprietary trading by banks. “A seminal component of the 2010 Wall Street Reform Act was the inclusion of the ‘Volcker Rule,’ designed to stop banks from using taxpayer-backed customer deposits for trades intended to only ... Read more »

Waters Statement on Confirmation of Mel Watt as Director of FHFA

| Posted in Press Releases
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... Read more »

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

| Posted in Press Releases
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... Read more »

Waters Statement on SEC Agenda

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in reaction to the agenda of the Securities and Exchange Commission (SEC), which was released last week. “While I’m pleased to see the SEC will be dealing with a number of important issues next year, including derivatives regulation and measures to increase investor protec... Read more »

Waters Opposes Legislation to Weaken CFPB

| Posted in Press Releases

At a Financial Services Committee markup of six bills designed to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee, blasted the measures as efforts to weaken CFPB’s ability to be an effective, independent advocate for consumers. Waters highlighted the CFPB’s remarkable record of success in just over two years, pointing t... Read more »

Waters Calls on Congress to Address the National Flood Insurance Program

| Posted in Press Releases

Today, at a hearing to examine the National Flood Insurance Program (NFIP), Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, asked FEMA administrator Craig Fugate tough questions about its implementation of the NFIP, and why he had not notified lawmakers of dramatic rate increases that many are experiencing as a result of changes to the Program. Waters also di... Read more »

Top House Democratic Lawmakers Urge Senate to Preserve Extractive Revenue Disclosure Law

| Posted in Press Releases

As the House and Senate work to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico, three leading House Democratic lawmakers called on Senate Majority Leader Harry Reid (D-NV) to reject House Republican efforts to waive a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act t... Read more »

Top Democrats Demand Answers on Independent Foreclosure Review Process

| Posted in Press Releases

Waters, Warren, Cummings Call on OCC, Fed to Release Information on Mortgage Servicing Settlement strongIn the absence of a long-promised public report, leading Democratic Members of Congress have called on federal regulators to disclose critically important information related to the Independent Foreclosure Review (IFR) process for 14 mortgage servicers and the $9.3 billion settlement that abrupt... Read more »

Democrats Call on Regulators to Report on Foreclosure Review

| Posted in In Case You Missed It

WASHINGTON — Democratic lawmakers on Monday urged regulators to keep their promise to release a report by the end of the year that details an independent review of millions of borrowers who faced foreclosure. In a letter to Federal Reserve Board Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry, Sen. Elizabeth Warren, Rep. Maxine Waters and Rep. Elijah Cummings said a public, deta... Read more »

Congressional Democrats Press for Details of Foreclosure Review Program

| Posted in In Case You Missed It

A trio of top Democrats are urging federal regulators to release details about their decision to end a foreclosure review process in favor of a nearly $10 billion settlement. Reps. Maxine Waters(Calif.) and Elijah Cummings (Md.) along with Sen. Elizabeth Warren (Mass.) sent a letter on Monday that "in the absence of a long-promised public report" about the Independent Foreclosure Review (IFR) proc... Read more »

Waters Remarks on Regulatory Relief and Capital Markets Legislation

| Posted in Press Releases

Financial Services Committee Holds Markup of Five Bills Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, delivered the following remarks as part of a Committee markup on five pieces of legislation aimed to assist small businesses and provide relief to small financial institutions. In her statement, Waters applauded the bipartisan manner in which the... Read more »

Waters Calls for Renewal of Terrorism Risk Insurance Program

| Posted in Press Releases

Financial Services Subcommittee Holds Hearing on TRIA Program Today, at a Committee on Financial Services’ Housing and Insurance Subcommittee hearing, Ranking Member Maxine Waters (D-CA) called for the quick, clean and long-term renewal of the Terrorism Risk Insurance Act, known as TRIA. At the hearing, entitled “The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpa... Read more »

Waters named HousingWire 2013 Woman of Influence

| Posted in Press Releases

Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, has been named a 2013 “Woman of Influence” by HousingWire, a leading news outlet covering the U.S. housing economy, spanning mortgage lending, servicing, investments and real estate operations. Waters was recognized for her efforts to ensure American families are provided adequate consumer protections, as well a... Read more »

Waters Calls for New International Financial Architecture

| Posted in Press Releases

Outlines priorities for new sovereign debt restructuring framework Today, at a Capitol Hill briefing on “Responsible Lending and Borrowing and the Impact of Holdout Creditors for the Extreme Poor,” Congresswoman Maxine Waters, in a statement, called for the establishment of a formal, institutionalized, and politically recognized mechanism for restructuring the debt of bankrupt nations. Waters, the... Read more »

Maxine Waters Places Housing Reform on Chopping Block

| Posted in In Case You Missed It

Calls for principal reduction, more equal access to market After several critical years in the wake of the housing meltdown, the market recovery is continue to take shape. However, the recovery could be much stronger if housing reform sees immediate action, specifically the pursuit of more widespread principal reduction, which would provide the best return for taxpayers, argues Rep. Maxine Waters,... Read more »

Waters Statement on Passing of Former FDIC Diversity Chief Mickey Collins

| Posted in Press Releases
Tags: FDIC

Upon news of the passing of D. Michael ‘Mickey’ Collins, Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement. “I am deeply saddened to hear of the passing of D. Michael ‘Mickey’ Collins. From 1999 until earlier this year, Mickey was a tireless advocate at the Federal Deposit Insurance Corporation (FDIC) for diversity in the workforce... Read more »

2013 Women of Influence

| Posted in In Case You Missed It

Congresswoman Maxine Waters, D-Calif., is not one to shy from a fight. And when it comes to supporting minority rights to affordable housing and responsible lending, Waters can get downright vicious. Take the CFPB’s extensive regulatory changes coming in January. It’s going to be tough enough to get rolling on the new marching orders. But to Waters, it’s just the start. “The rule should not be the... Read more »

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... Read more »



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