Congresswoman Waters Elected Ranking Member of the Financial Services Committee
Congresswoman Maxine Waters (D-CA) was unanimously elected Ranking Member of the House Financial Services Committee today by the House Democratic Caucus. Following the election, Congresswoman Waters released the following statement:
"I am deeply humbled to be elected as Ranking Member of the House Financial Services Committee by my Democratic colleagues today. I want to foremost extend my sincere gratitude and appreciation to Congressman Barney Frank for both his friendship and outstanding service to the Committee, particularly for his steadfast leadership during the 2008 financial crisis – the most perilous moment our economy has faced since the Great Depression. The last few years have been very turbulent for our financial system, and Congressman Frank should be commended for leading us out of the crisis, and assuring the passage of the Wall Street Reform and Consumer Protection Act, which rightfully bears his name.
"I look forward to working with my colleagues to protect, defend and implement the important provisions of Dodd-Frank, which will continue to strengthen our financial system. I understand that regulatory certainty is an important aspect of growing our economy, and remain committed to ensuring clear and transparent regulation which creates the space for innovation, safety and soundness.
"I am grateful for the opportunity over the next Congress to work on the key issues facing our financial system. Housing finance reform, in particular, will be crucial to ensuring the long-term success and stability of our economy. I believe we need a financial system that facilitates economic opportunity and wealth creation for all, and I stand ready to work with my colleagues towards that goal.
"We have a number of challenges ahead of us on the Committee, and I welcome the chance to work with Chairman Hensarling to reconcile our visions for the future."