Consumer Protection
More on Consumer Protection
Victoria Finkle, American Banker
Anyone who has ever watched former Rep. Barney Frank at a hearing or give a speech knows that he is a tough act to follow.
But that is particularly true for Rep. Maxine Waters, who has inherited his mantle as leader of the Democrats on the House Financial Services Committee, a role Frank played for a decade.
Jon Prior and Patrick Reis, Politico
The Justice Department has filed civil charges against Standard & Poor's over mortgage securities it rated in the run-up to the 2008 financial crisis, setting up a high-profile showdown between the government and the much-maligned ratings industry.
In a lawsuit filed late Monday in the U.S. District Court for the Central District of California, the Justice Department alleges that S&P knowingly executed a scheme to defraud investors between September 2004 and October 2007 in its ratings of mortgage securities that were tied to subprime mortgages.
Congresswoman Maxine Waters, ranking member of the House Financial Services Committee, today released the following statement in response to the announcement by the Department of Justice that it has filed a civil suit against Standard & Poor's Rating Services (S&P):
Congresswoman Maxine Waters, ranking member of the House Financial Services Committee, today sent the attached letter to Jeb Hensarling, chairman of the committee, requesting that he hold a hearing about the abrupt end of the Independent Foreclosure Review (IFR) process:
On Jan. 7, the Office of the Comptroller of the Currency and the Federal Reserve Board announced a settlement in which 14 mortgage servicing companies agreed to replace the process with an $8.5 billion settlement, effectively terminating the IFR.
Pat Garofalo, Think Progress
The new chairman of the House Financial Services Committee, Rep.
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee (HFSC), today released the following statement in response to the news that President Barack Obama will nominate Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). The CFPB was established by the Wall Street Reform and Consumer Protection Act, which was drafted and signed into law during the period in which Ms. Waters was Chairwoman of the HFSC Subcommittee on Housing and Community Opportunity.
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today welcomed President Obama's nomination of Mary Jo White to be the next chairman of the United States Securities and Exchange Commission (SEC), stating:
Alexandra Villarreal, BankCreditNews.com
While Dodd-Frank opponents will attempt to make "technical" corrections to the legislation, they may encounter fierce resistance from Rep. Maxine Waters, the 12-term California Democrat recently appointed as the ranking member of the House Financial Services Committee.
Waters is the most senior African-American female in Congress and one of the architects of legislation that established the Office of Minority Inclusion, which is responsible for overseeing federal agencies, Politic365 reports.
Keith Cooper, Politic365.com
Efforts by House Republicans to turn back the landmark Dodd-Frank banking law will meet with staunch resistance from Rep. Maxine Waters.
The 12-term California Democrat was just appointed as the Ranking Member on the U.S. House Financial Service Committee. She is the most senior Black female in Congress and clearly the most powerful given her senior role on the Committee. As the architect of legislation that created the new Offices of Minority Inclusion that will oversee federal financial services agencies, Waters is focused on what she can get done in the 113th Congress.
A contingent of 12 Members of the House of Representatives today filed an amicus brief in the United States Court of Appeals for the District of Columbia Circuit in support of the Securities and Exchange Commission's Resource Extraction Rule. The rule is based on a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act.