Maxine Waters Welcomes New Committee Members and Rolls Out Financial Services Committee Targets: Ben Carson, CFPB, and Deutsche Bank
Congresswoman Maxine Waters (D-CA), the new Chair of the House Financial Services Committee, warned HUDSecretary Ben Carson that she plans to scrutinize his efforts to weaken fair housing safeguards. Carson last year proposed new changes to an Obama-era rule aimed at combating segregation in housing policy. He wants the rule to focus more on reducing the regulatory burdens of local jurisdictions and on giving them more control, while encouraging actions that bolster housing choice and increase housing supply. Waters is not on board. She said housing finance reform would need to include a comprehensive strategy on access to affordable credit and rental housing. She said her Committee would keep an eye on big banks and their activities; probe the Consumer Financial Protection Bureau and credit reporting, which she said needed a comprehensive overhaul; pay close attention to financial technology firms; and address the lack of minority and women representation in the leadership ranks of corporate America by launching a new subcommittee focused on diversity and inclusion. Waters also plans to probe Deutsche Bank, a major lender to the Trump Organization, over their businesses and money laundering involving Russia. "It is a new day in Congress and for the Financial Services Committee," she said at a Washington event hosted by the Center for American Progress. She met privately with Morgan Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon for the banking tycoons to offer their views on various economic topics. Maybe they’re nervous about some of the new progressive committee members who repeatedly hit Wall Street billionaires during their campaigns. Those new members include Representatives Alexandria Ocasio-Cortez (D-NY), Ayanna Pressley (D-MA), Rashida Tlaib (D-MI), Jesús "Chuy" García (D-IL), Sylvia García (D-TX), and Michael San Nicolas (D-Guam), among others. Re-elected members joining the Committee include Alma Adams (D-NC), Tulsi Gabbard (D-HI), and Al Lawson (D-FL). Congressman Anthony González (R-OH) is joining the minority side of the Committee. More here.