Consumer Protection
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The "Holding Individuals Accountable and Deterring Money Laundering Act" highlights some lawmakers' dissatisfaction with recent money-laundering penalties and provides a new roadmap for strengthening enforcement.
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in anticipation of the nomination of Janet Yellen as Chairman of the Board of Governors of the Federal Reserve.
"President Obama's choice in nominating Janet Yellen to lead the Fed is both historic and important for our nation's economy. Ms. Yellen's experience as a former Chair of the Council of Economic Advisers, Regional Fed Bank President, and Vice-Chair of the Federal Reserve make her one of the most qualified people ever to be nominated.
In a speech on the floor of the House of Representatives, Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today highlighted the serious consequences of the U.S. defaulting on its debt. Waters also urged Republicans to stop using the debt ceiling to push extremist ideology, calling for a vote on a clean debt-limit increase. She delivered the following remarks.
As prepared for delivery:
With only 13 days until the nation reaches its debt limit, and in the aftermath of the Department of Treasury's report on the impact of defaulting on our debt, Congresswoman Maxine Waters (D-CA) today called on Republicans to stop threatening the nation's economy to move their ideological priorities. She released the following statement:
"As if the consequences of a government shutdown are not bad enough, Republicans are now threatening to hold the full faith and credit of the United States hostage to advance their ideological agenda.
Congresswoman Maxine Waters authored the following opinion editorial for the American Banker:
In 2008 we saw the consequences of the risky, irresponsible lending and financial practices resulting from the false ideology that financial markets can somehow properly police themselves. Lax mortgage standards and an unhealthy amount of risk taken by financial institutions and other market participants led to an economy that was not rooted in reality.
A majority of the Democratic women serving in the House of Representatives are urging President Barack Obama to nominate Janet Yellen as chair of the Federal Reserve, putting additional pressure on the president to reject economist Larry Summers, who is rumored to be the frontrunner.
Financial Services Committee Ranking Member Maxine Waters, today joined by 37 of her fellow Democrats, delivered a letter urging President Obama to nominate Janet Yellen, current Vice Chairman of the Board of Governors of the Federal Reserve System, to replace Ben Bernanke as Chairman of the Federal Reserve when his term expires.
Congresswoman Maxine Waters and Senator Elizabeth Warren authored the following opinion editorial for The American Banker
It has been only three years since the passage of the Dodd-Frank Act and five years since the 2008 financial crisis, but memories in Washington can be short.
House Democrats, led by Financial Services Committee Ranking Member Maxine Waters, today released a "set of critical core principles" they believe should be part of legislative efforts to address the future of housing finance reform. Since the beginning of the 113th Congress, Democrats on the Financial Services Committee have held a series of briefings, roundtables, and caucuses on housing finance reform. As a result of this work, Committee Democrats have developed principles to guide their consideration of any housing finance reform proposals.
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement today in response to the Senate's vote to confirm Richard Cordray as the director of the Consumer Financial Protection Bureau (CFPB):
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