Waters Calls on Megabank CEOs to Serve Millennials Struggling with Student Debt
Washington, DC, April 10, 2019
Today, at a full Committee hearing with the CEOs of seven of the nation’s largest financial institutions, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, called for megabanks to craft a solution to help Americans saddled with student loan debt to achieve economic goals such as homeownership.
“I’m going to ask you in all that you do to think about all that student debt,” Chairwoman Waters said. “I know that you sold the debt and you’re not involved with student loans anymore but we have a whole population of millennials who are out there, who are still the victims of the debt that was incurred because they were trying to get an education. I’m asking you if you can come up with a creative product of some kind to deal with this population of millennials who can’t buy a home, who can’t get married, who can’t buy an automobile, who don’t have insurance.…I don’t know what it is, I don’t know how you’re going to do it, but I’d like you to think about it and next year when you come, I hope that you can give us some answers.”
See a clip of her remarks below.