More on Economic Security
Congresswoman Maxine Waters (D-Calif.), a leading progressive voice in Congress, today strongly criticized the Republicans' destructive budget proposals, including both the deal cut for the remainder of Fiscal Year 2011 funding, and the Republican budget for Fiscal Year 2012. As Congress voted on multiple budgets over the last two days, the Congresswoman made it clear she does not support any plan that takes money away from programs and services to help the least fortunate Americans, while giving away money to ultra-rich individuals and corporations.
This amendment offered by Congresswoman Maxine Waters (D-Calif.) was accepted by Republicans and included in the final bill H.R. 1249, the America Invents Act, that passed the Committee today. In introducing her amendment, the Congresswomand delivered the following remarks:
I have an amendment at the desk.
By Lorraine Woellert
The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, the first of a set of sanctions regulators are seeking against the companies.
The settlement announced today between servicers and banking regulators could help the U.S. Justice Department determine the size and scope of fines for the flawed practices, regulators said.
By Marc H. Morial
What do American Express, Merck, Xerox, Darden Restaurants, and Citibank have in common?
Congresswoman Maxine Waters (CA-35) released the following statement today after convening a large community meeting with other elected officials, community leaders, members of the clergy, and organized labor, to bring Los Angelinos up to speed on budget cuts, negotiations, and the status of the government:
"Today, I held a large community meeting to answer questions and deal with the concerns of my constituents in the 35th district of California and other Los Angelinos who came to understand the confusing situation in Washington.
Congresswoman Maxine Waters (D-Calif.) and the African American Members of the House Financial Services Committee (known as the FS 10) were recently honored by the Black Press of America and the National Newspaper Publishers Association Foundation (NNPAF) with the 2011 Political Leadership Award for their work during negotiations for the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Congresswoman and Congressman William Lacy Clay, Jr. accepted the award on behalf of the FS 10 at an event last week at a Newsmaker Dinner and Gala at the Omni Shoreham Hotel.
Congresswoman Maxine Waters (D-Calif.), the ranking member of the Subcommittee, issued the following opening statement:
Thank you, Mr. Chairman, for convening this hearing today to examine the potential for creating a covered bond market in the United States.
Today we convene to discuss covered bonds, and Representative Garret's covered bond bill, H.R. 940.
Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today after Republicans on the Committee announced their intention to defund foreclosure prevention programs:
"Republicans who support this proposal to end government-supported foreclosure prevention programs are turning their backs on their constituents and their communities who not only have been devastated by the foreclosure crisis, but who have directly benefited from government assistance.
Congresswoman Maxine Waters (D-Calif.) authored the following op-ed for the Afro American Newspaper.
House Republicans last week introduced a spending measure to fund the federal government for the rest of fiscal year. And, perhaps not surprisingly, it is an extreme and indiscriminate assault on African Americans and other populations who have historically bore the brunt of budget cuts in the name of fiscal austerity: women, children, students, veterans, the poor, the homeless, communities of color, it goes on.
by Charles J. Lewis
Rep. Jim Himes, D-4, a veteran of Wall Street and housing finance, says he hopes to play a major role in the reform of Fannie Mae and Freddie Mac, the two failed government-sponsored companies that have helped homebuyers get mortgages, but which are now in government custody.
Last week, the Obama administration urged Congress to consider options on reforming the two companies, which have cost taxpayers $154 billion so far, making them the most expensive bailout in the financial crisis.
`To play an active role'