Congresswoman Maxine Waters (D-CA) was re-elected unanimously last Friday, by the Democratic Caucus to serve as Ranking Member of the Committee on Financial Services for her third term. She released the following statement:
“I am honored to have been re-elected to lead the House Financial Services Committee in the 115th Congress. We face many challenges in the years ahead, with President-elect Trump threatening to dismantle Dodd-Frank, putting our financial stability and consumer protections at risk. It is more important now than ever for Democrats to fight for what they believe in, and I will continue to lead that fight for American consumers and our most vulnerable populations.”
Waters first joined the Committee in 1991 and served as chair or ranking member on every subcommittee since then. She was elected Ranking Member of the full Committee in the 113th Congress. She has lead efforts on major initiatives affecting the financial services and housing communities, including playing a key role in the drafting of the Dodd-Frank Wall Street Reform and Consumer Protection Act, authoring provisions specifically designed to help consumers, women, and minorities; authoring legislation to establish the Neighborhood Stabilization Program, which provided $7 billion to rehabilitate and resell abandoned and foreclosed properties; reauthorizing the Export-Import Bank and Terrorism Risk Insurance program; and working across the aisle to enact reasonable regulatory relief for small banks and credit unions as well as on bipartisan legislation to improve the nation’s affordable housing programs.
In the 114th Congress, Waters has introduced legislation that would end homelessness in America, reform the broken credit reporting system in the U.S., and forgive the National Flood Insurance Program’s debt ahead of its reauthorization in 2017.
