More on Economic Security
Corporate settlement policy unlikely to be changed by Congress
WASHINGTON, May 17 (Reuters) - U.S. lawmakers showed little support on Thursday for tinkering with a regulatory policy of settling cases without requiring defendants to admit to misconduct.
Today, Congresswoman Maxine Waters sent the following letter to Rep. Paul Ryan, commending him on his strong stance [Article: https://thinkprogress.org/economy/2012/05/07/479207/paul-ryan-volcker-rule/ ] in favor of the concepts expressed in the "Volcker Rule." In addition, Rep. Waters asked him to join her in the effort to ensure transparent and workable implementation of the rule. The full text of the letter is below:
Chairman Paul Ryan
Today, Congresswoman Maxine Waters along with Rushmore Cervantes, Interim General Manager, Los Angeles Housing Department; Timothy Watkins, CEO, Watts Labor Community Action Committee; and Charles Quarles, President, Bedford Group joined Shaun Donovan, the Secretary of Housing and Urban Development (HUD) during his visit to Los Angeles for a tour of several properties that have benefited from the Neighborhood Stabilization Program (NSP) in South Los Angeles. Congresswoman Waters statement about Secretary Donovan's visit is below:
Today, Housing and Urban Development Secretary Shaun Donovan and Attorney General Eric Holder announced an historic settlement between 49 state attorneys general and 5 major mortgage servicers regarding allegations of servicing and foreclosure fraud.
Today marks an important milestone in a struggle many of us have been engaged in for the last 5 years: the fight to bring justice to millions of American homeowners and accountability to our nation's mortgage servicers.
Yesterday, Rep. Waters introduced H.R. 3916, the Protecting Post Offices Act, which would reduce the operating costs of the US Postal Service to provide continued service in urban and rural communities and save 28,000 American jobs. She is joined by American Postal Workers Union, AFL-CIO in support of this much needed legislation to stabilize the US Postal Service.
Today, Rep. Waters introduced H.R. 3841, the Principal Reduction Act of 2012, which would require Fannie Mae and Freddie Mac to reduce principal on loans that they own or guarantee. She was joined by eight Members of Congress in support of this much needed legislation to stabilize the housing market.
Congresswoman Maxine Waters (CA-35) today released the following statement regarding President Obama's recess appointment of Richard Cordray as Director of the Consumer Financial Protection Bureau:
"I applaud President Obama for today using his executive power to overcome Republican obstructionism and appoint Richard Cordray, the former Attorney General of Ohio, as Director of the Consumer Financial Protection Bureau (CFPB).
Today, Congresswoman Maxine Waters introduced the "Ensuring Quality Education for Veterans Act," which would protect student veterans from bad actors within the for-profit college industry. The bill would include veterans' benefits under the 90/10 rule of the Higher Education Act of 1965, thereby removing an incentive for unscrupulous actors in the for-profit education industry to exploit the nation's veterans.
On November 23, 2011, Congresswoman Maxine Waters (CA-35) sent a letter to Secretary of Transportation Ray LaHood supporting the construction of a light rail station in Leimert Park on the Crenshaw/LAX Transit Corridor and urging him to provide a federal grant to Los Angeles County to fund its construction. The text of her letter follows: