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 WEEKLY ROUNDUP
November 21, 2021

        

Waters Applauds House Passage of the Build Back Better Act

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, applauds the House passage of H.R. 5376, the Build Back Better Act, a historic piece of legislation that will provide unprecedented and long overdue investments in our nation’s housing infrastructure.

“After decades of disinvestment in our nation’s affordable housing programs, years of insisting that housing is infrastructure, and months of tough negotiations, the House has persevered today. I am immensely proud that the House has voted to pass the Build Back Better Act, and that this bill is now with the Senate for what I hope to be an imminent and easy vote in favor of the American people. We have worked tirelessly to secure more than $150 billion in housing investments in this bill, which will create or preserve more than one million homes that are affordable and accessible to families in need…"

Read Chairwoman Waters’ full statement HERE.


Build Back Better Act Makes Historic Investments in Nation’s Housing Infrastructure


                                                                     
Tweets of the Week





Member Spotlight

Congressman Bill Foster (D-IL)

Congressman Bill Foster (D-IL) is the Chair of the Task Force on Artificial Intelligence. Rep. Foster also serves on the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets and the Subcommittee on Consumer Protection and Financial Institutions. The Investor Choice Act, a bill by Rep. Foster to prohibit broker-dealers, investment advisers, and issuers from including pre-dispute binding mandatory arbitration clauses in their customer agreements, passed the Committee this week.

 

Weekend Reads


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Committee Passes Legislation to Protect Retail Investors, Promote Fair Hiring Opportunities at Markup

The House Financial Services Committee passed six bills to protect investors, ensure fair employment opportunities for justice-involved individuals, and reform credit union governance, as working families across this country struggle to rebuild their savings after the pandemic.

  • H.R. 5911, the Fair Hiring in Banking Act is a bill introduced by Representative Joyce Beatty (D-OH). The bill passed the Committee by a voice vote.

  • H.R. 2620, the Investor Choice Act is a bill introduced Representative Bill Foster (D-IL). The bill passed the Committee by a vote of 27-23.

  • H.R. 5914, the Empowering States to Protect Seniors from Bad Actors Act is a bill introduced by Representative Josh Gottheimer (D-NJ). The bill passed the Committee by a voice vote.

  • H.R. 5910, the Holding SPACs Accountable Act is a bill introduced by Representative Michael San Nicolas (D-Guam). The bill passed the Committee by a vote of 27-23.

  • H.R. 5913, the Protecting Investors from Excessive SPACs Fees Act is a bill introduced by Representative Brad Sherman (D-CA). The bill passed the Committee by a vote of 29-23.

  • H.R. 2311, the Credit Union Governance Modernization Act is a bill introduced by Representative Tom Emmer (R-MN), and co-sponsored by Representative Ed Perlmutter (D-CO). The bill passed the Committee by a voice vote.


Upcoming Hearing Dates

  • Wednesday, December 1 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.”

  • Tuesday, December 7 at 10:00 AM ET: The Subcommittee on Oversight and Investigations will convene for a hybrid hearing entitled, “Ensuring Equitable Delivery of Disaster Benefits to Vulnerable Communities and Peoples: An Examination of GAO’s Findings of the CDBG Program”

  • Wednesday, December 8 at 10:00 AM ET: The full Committee will convene for a hybrid hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”

  • Thursday, December 9 at 11:00 AM ET: The Subcommittee on Diversity and Inclusion will convene for a hybrid hearing entitled, “A Review of Diversity and Inclusion Performance at America’s Large Investment Firms.”

All hearings are livestreamed on https://financialservices.house.gov/live/.

Hybrid hearings will take place in 2128 Rayburn House Office Building with a virtual option for all Members and witnesses to participate remotely.

Committee activities are finalized once an official notice is issued by the House Financial Services Committee.

Visit https://financialservices.house.gov/calendar/ for the most up-to-date Committee schedule.


Chairwoman’s Corner

Chairwoman Waters Delivers Floor Speech in Support of Housing Investments in the Build Back Better Act

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following floor speech supporting historic housing investments and urging passage of the Build Back Better Act:

Thank you very much, and I thank Chairman Yarmuth for his hard work. Madam Speaker, I rise in support of the Build Back Better Act, which will make historic investments across the country. We’re in the middle of a housing crisis, and I’ve worked hard for funding to assist with this crisis that we have in housing. And as Chairwoman of the Financial Services Committee, I’ve considered this my responsibility.

It is not lost on me that more than 580,000 people experience homelessness on any given night, and millions of families are, at this very moment, sacrificing their next meal to pay the pay rent. And more have been kept out of their dream of homeownership. With more than $151 billion for housing in this bill, Democrats are helping families achieve housing stability and housing affordability.

Housing is infrastructure. The Build Back Better Act provides the largest investment in America’s housing infrastructure in history. This investment is critical to creating a fair and equitable nation where everyone can thrive.

If this bill goes to the Senate, in it, we have $10 billion for first-generation homebuyers. We have $25 billion in Section 8 rental assistance. We have $25 billion in HOME Program and CDBG and Housing Trust Fund to build more affordable units. And so, I would ask for support of this very significant legislation. It is indeed a game-changer. And so, I urge my colleagues to vote YES on the Build Back Better Act.

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Sent from the Committee on Financial Services

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