Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, issued the following statement regarding her approval by the House Democratic Caucus to chair the House Committee on Financial Services for the 117th Congress.
“I am deeply honored to have been approved by the House Democratic Caucus to again serve as Chairwoman of the House Financial Services Committee for the 117th Congress. I thank our Caucus for their support and look forward to another term leading the Committee and fighting for America’s consumers, investors, renters, and homeowners.
“As Chairwoman of the Committee for the last two years, I have advanced an agenda to protect consumers and investors, and to ensure our financial and housing systems work for everyone. In the 117th Congress, I plan to build upon the successes of this Congress and continue to prioritize consumers, investors, and small businesses, closely aligning our agenda with President-elect Biden’s plans.”
“Under my leadership next Congress, the Committee will work with the Biden Administration on passing crucial legislation to provide comprehensive COVID-19 economic relief, including needed emergency rental assistance. We will work to promote economic justice by removing discriminatory barriers in our housing systems, strengthening fair lending laws, reinvesting in communities and institutions of color, and making diversity and inclusion a reality on Wall Street and within corporate America. We will prioritize ending payday lending, expanding public and affordable housing, ending homelessness, and reforming our housing finance system.
“The Committee will also work to ensure financial technology is used responsibly and fairly, and expand access to banking services for all Americans, including those operating legitimate cannabis businesses. We will work to reform our nation’s broken credit reporting system; and restore and strengthen the centerpiece of Dodd-Frank: the Consumer Financial Protection Bureau. In addition, we will work to reform our nation’s flood insurance program, while recognizing the realities of climate change and the importance of keeping premiums low. We will ensure accountability on Wall Street by repealing Trump’s deregulatory actions and holding bad actors responsible for wrongdoing. We will also work to mitigate and reverse climate change by advancing efforts to invest in green housing, disclosing corporate climate risks, and addressing climate risks to financial stability. Although the next Congress poses enormous challenges, Democrats must be bold in our vision for how to restore Americans’ trust in our government and democracy.”