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Waters Opening Statement at Committee Organizational Meeting and Markup to Adopt Committee Rules

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee organizational meeting and markup to consider a resolution to adopt the Committee’s rules for the 117th Congress. 

As Prepared for Delivery

Today marks the first official meeting of the Committee on Financial Services in the 117th Congress. 

Today we will consider a resolution to adopt the Committee’s rules for the 117th Congress. These rules are nearly identical to the rules from the 116th Congress with the exception of a few technical changes that were needed to conform to the House rules for the 117th Congress, and to establish new sizes and ratios for the Subcommittees of the Committee.  

Today the Committee will also consider a resolution, appointing Members to each of our subcommittees. I am very pleased to congratulate our subcommittee Chairs. For the 117th Congress, 

  • Congressman Brad Sherman will chair the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets; 
  • Congressman Ed Perlmutter will chair the Subcommittee on Consumer Protection and Financial Institutions; 
  • Congressman Emanuel Cleaver will chair the Subcommittee on Housing, Community Development, and Insurance; 
  • Congressman Jim Himes will chair the Subcommittee on National Security, International Development and Monetary Policy; 
  • Congresswoman Joyce Beatty will chair the Subcommittee on Diversity and Inclusion; and 
  • Congressman Al Green will chair the Subcommittee on Oversight and Investigations.

I would also like to take a few moments to briefly introduce and give a warm welcome to each of our new Democratic members.    

First, I would like to welcome Congressman Ritchie Torres, representing New York’s 15th Congressional District. He previously served as a Member of the New York City Council for the 15th district and was an advocate for public housing and protecting consumers from predatory lending. In addition, Mr. Torres was influential in successfully opening the first homeless shelter for young LGBTQ+ people in the Bronx.  

Next, it is my pleasure to welcome Congresswoman Nikema Williams representing Georgia’s 5th Congressional District. Ms. Williams previously served as a Member of the Georgia State Senate for the 39th District and dedicated her work during her time in the state legislature to fighting for working families, voting rights, and fair representation. Ms. Williams is an alumna of Talladega College, a Historically Black College, and is a member of the Alpha Kappa Alpha Sorority.  

Last and certainly not least, it is my pleasure to welcome Congressman Jake Auchincloss who represents Massachusetts’s 4th Congressional District. Mr. Auchincloss is a Marine Veteran who previously served as a city councilmember for the City of Newton. During his tenure, he focused his policy agenda on supporting progressive immigration and housing policies, as well as sustainable transportation.  

The Democratic Members of the Committee come from diverse backgrounds and bring a wide range of perspectives and ideas. I am looking forward to working with this impressive group of Members, both new and returning, to build back better in the new Congress.   

With that, I look forward to the adoption of the Committee rules and to the appointment of Members to subcommittees. This Congress, this Committee will continue to focus on responding to the COVID-19 pandemic crisis, and continue our work to ensure that the financial system is fair and that consumers and investors are protected. I look forward to working with Members on both sides of the aisle on common sense solutions to benefit hardworking Americans and protect vulnerable families.

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