Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the 2018 midterm election results, which will give Democrats the majority in the U.S. House of Representatives next Congress:
“With a Democratic majority in the House, and a mandate from the American public, the Financial Services Committee will get to work making sure the financial system is fair for all Americans. As the senior Democrat on the Financial Services Committee, I would be honored to lead the Committee next year with the support of my Democratic colleagues.
“If I am selected by my colleagues to serve as Chair of the Committee, I will prioritize protecting consumers and investors from abusive financial practices, making sure that there are strong safeguards in place to prevent another financial crisis, expanding and supporting affordable housing opportunities and tackling the homelessness crisis, encouraging responsible innovation in financial technology, promoting diversity and inclusion in the financial services sector, and ensuring that hardworking Americans and small businesses have fair access to the financial system and opportunities to thrive.
“For the last two years, Republicans in Congress have served as accomplices to Trump and have completely neglected Congress’ oversight responsibilities, enabling corruption and destructive policies to run rampant. It is critical that we bring accountability to the Trump Administration and the regulatory agencies under the Committee's jurisdiction. That includes ensuring that the Consumer Financial Protection Bureau can be allowed to resume its essential role of protecting consumers from harmful practices without interference from the Trump Administration.
“I believe in hearing a range of views on the issues facing the Committee, which are complex and consequential for all Americans. I will continue to maintain an open door policy, to hear the perspectives and concerns of all stakeholders, including representatives of the financial services industry, as well as groups that represent America’s consumers and investors. And, I will continue to work both with my Democratic colleagues and my colleagues across the aisle on commonsense solutions that benefit hardworking Americans and strengthen our economy.”