Consumer Protection
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WASHINGTON — Too little, too late.
That is how some consumer groups and lawmakers describe new federal guidelines meant to encourage banks and other financial companies to hire, promote and properly treat racial minorities and other historically disadvantaged groups.
In February, federal prosecutors began a 90-day examination to determine whether to bring cases against individuals for their role in the 2008 financial crisis.
As ranking member of the House Committee on Financial Services, I've spent the years since the financial crisis trying to provide relief to Americans devastated by the plague of home foreclosures.
It’s been challenging work. Programs the government put in place to aid borrowers often were insufficient, hard to understand and needlessly complex. Though the process created many problems, one silver lining is that we’ve learned important lessons about how government can more effectively help individuals victimized by predatory practices in the financial marketplace.
Originally appeared on Medium.
Pamela Hunt started working when she was just 14 years old. She’s now a 55-year-old home health care worker in Ledyard, Connecticut, and is the mother of eight children. Like so many Americans, she boldly decided to go back to school after long desiring a career change.
Waters Statement on the President's Budget Request
WASHINGTON, D.C. – Following the release of President Obama's fiscal year 2016 budget request, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, and member of the Democratic Steering & Policy Committee, applauded the President for including a number of important spending increases for HIV/AIDS programs, Alzheimer's research and for the government agencies that are charged with policing Wall Street.
WASHINGTON, D.C. – On Tuesday, the Root Magazine listed Rep. Maxine Waters (CA-43) as number two on its list of “People to Watch in 2015,” acknowledging her efforts as the Ranking Democrat on the House Committee on Financial Services and for her leadership in “tackling” economic issues important to moderate and middle income Americans.
Waters Applauds CFPB Action Against Corinthian Colleges
WASHINGTON, DC – Today, Congresswoman Maxine Waters (D-CA-43), Ranking Member of the Financial Services Committee, expressed support for the Consumer Financial Protection Bureau's announcement that it would take legal action against Corinthian Colleges, Inc. for its predatory lending practices.
Citing the countless Americans who have experienced heartbreak, frustration and devastation as a result of incomplete or erroneous information on their credit reports, today Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released a proposal that would make sweeping reforms to our nation's consumer reporting system.
As the House of Representatives considers the harmful Republican financial services and general government funding proposal, Congresswoman Maxine Waters (D-CA), Ranking Democrat on the Financial Services Committee, offered three amendments designed to provide adequate resources to our financial regulators.
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