House Committee on Financial Services

House Committee on Financial Services Led by Chairwoman Maxine Waters, Financial Services Democrats fight to protect consumers, investors, & the economy from abusive Wall Street practices.

The Committee on Financial Services in the U.S. House of Representatives oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The 2008 financial crisis was a result of Wall Street running amok, with abusive institutions peddling toxic products like no-doc loans, interest-only mortgages

The Committee on Financial Services in the U.S. House of Representatives oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The 2008 financial crisis was a result of Wall Street running amok, with abusive institutions peddling toxic products like no-doc loans, interest-only mortgages

Operating as usual

06/16/2021
Schemes and Subversion: How Bad Actors and Foreign Governments Undermine and Evade Sanctions Regimes

National Security, International Development, and Monetary Policy Subcommittee Chairman Representative Jim Himes and Ranking Member Barr host a virtual hearing entitled, “Schemes and Subversion: How Bad Actors and Foreign Governments Undermine and Evade #Sanctions Regimes."

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Witnesses for this one-panel hearing will be:

• Ivan A. Garces, Principal and Chair, Risk Advisory Services, Kaufman Rossin

• Eric B. Lorber, Senior Director, Center on Economic and Financial Power, Foundation for Defense of Democracies

• Lakshmi Kumar, Policy Director, Global Financial Integrity

• Jesse Spiro, Global Head of Policy & Regulatory Affairs, Chainalysis

• Dr. Jeffrey W. Taliaferro, Professor, Department of Political Science, Tufts University

06/15/2021
Virtual Hearing - Digitizing the Dollar: Investigating the Technological Infrastructure, Privacy, and Financial Inclusion Implications of Central Bank Digital Currencies

Task Force on Financial Technology Chairman Lynch and Ranking Member Davidson host a virtual hearing entitled, “Digitizing the Dollar: Investigating the Technological Infrastructure, Privacy, and Financial Inclusion Implications of Central Bank Digital Currencies."

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Witnesses for this one-panel hearing will be:

• Mrs. Carmelle Cadet, Founder and CEO, EMTECH

• Mr. Jonathan Dharmapalan, Founder and CEO, eCurrency

• Mr. Rohan Grey, Assistant Professor of Law, Willamette University

• Dr. Neha Narula, Director of the Digital Currency Initiative, MIT Media Lab

• Dr. Jenny Gesley, Foreign Law Specialist, Library of Congress

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following stat...
06/11/2021

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the U.S. Department of Housing and Urban Development’s (HUD) efforts to restore the Affirmatively Furthering Fair Housing Rule.

“I am pleased that Secretary Fudge has begun to reverse the previous administration’s actions that gutted the Affirmatively Furthering Fair Housing (AFFH) Rule,” said Congresswoman Waters....

See more here: https://go.usa.gov/x69TF

06/09/2021
Virtual Hearing - Universal Vouchers: Ending Homelessness and Expanding Economic Opportunity in America

Full Committee Chairwoman Maxine Waters and Ranking Member McHenry host a virtual hearing entitled, “Universal Vouchers: Ending Homelessness and Expanding Economic Opportunity in America."

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Witnesses for this one-panel hearing will be:

• Ann Oliva, Senior Fellow, Center on Budget and Policy Priorities

• Mary Cunningham, Vice President, Metropolitan Housing and Communities Policy, Urban Institute

• Benjamin Metcalf, Managing Director, Terner Center for Housing Innovation, UC Berkeley

• Chancela Al-Mansour, Executive Director, Housing Rights Center

• Howard Husock, Adjunct Scholar, Domestic Policy, American Enterprise Institute

See more here: https://go.usa.gov/x6Zf4

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following sch...
06/03/2021

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of #June: https://go.usa.gov/x6TEQ

05/27/2021
Virtual Hearing - Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies

House Committee on Financial Services Chairwoman Maxine Waters and Ranking Member McHenry host a virtual hearing entitled, “Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies."

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Witnesses for this one-panel hearing will be:

• Mr. Jamie Dimon, Chairman & Chief Executive Officer, JPMorgan Chase & Co.

• Ms. Jane Fraser, Chief Executive Officer, Citi

• Mr. James P. Gorman, Chairman & Chief Executive Officer, Morgan Stanley

• Mr. Brian T. Moynihan, Chairman & Chief Executive Officer, Bank of America

• Mr. Charles W. Scharf, Chief Executive Officer & President, Wells Fargo & Company

• Mr. David M. Solomon, Chairman & Chief Executive Officer, Goldman Sachs

05/26/2021
Virtual Hearing - Consumer Credit Reporting: Assessing Accuracy and Compliance

Oversight and Investigations Subcommittee Chairman Rep. Al Green and Ranking Member Barr host a virtual hearing entitled, “Consumer Credit Reporting: Assessing Accuracy and Compliance."

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Witnesses for this one-panel hearing will be:

• Ms. Beverly Anderson, President, Global Consumer Solutions, Equifax

• Ms. Sandy Anderson, Senior Vice President, Strategy and Operations, Experian Credit Services

• Mr. John Danaher, Executive Vice President, Consumer Interactive at TransUnion

• Ms. Rebecca Kuehn, Partner, Hudson Cook

• Ms. Chi Chi Wu, Staff Attorney, National Consumer Law Center (NCLC)

05/24/2021
Virtual Hearing - Going Public: SPACs, Direct Listings, Public Offerings, and the Need for Investor Protections

Investor Protection, Entrepreneurship, and Capital Markets Subcommittee Chairman Congressman Brad Sherman and Ranking Member Huizenga host a virtual hearing entitled, “Going Public: #SPACs, Direct Listings, Public Offerings, and the Need for Investor Protections."

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Witnesses for this one-panel hearing will be:

• Stephen Deane, Senior Diretor of Legislative and Regulatory Outreach, CFA Institute

• Andrew Park, Senior Policy Analyst, Americans for Financial Reform

• Usha Rodrigues, Professor & M.E. Kilpatrick Chair of Corporate Finance and Securities Law, University of Georgia School of Law

• Scott Kupor, Investing Partner, Andreessen Horowitz

05/19/2021
Virtual Hearing - Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions

Full Committee Chairwoman Maxine Waters and Ranking Member McHenry will host a virtual hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions."

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Witnesses for this one-panel hearing will be:

• The Honorable Todd Harper, Chairman, National Credit Union Administration

• Mr. Michael Hsu, Acting Comptroller of the Currency, U.S. Comptroller of the Currency

• The Honorable Jelena McWilliams, Chairman, Federal Deposit Insurance Corporation

• The Honorable Randal Quarles, Vice Chairman of Supervision, Board of Governors of the Federal Reserve System

05/12/2021
Hybrid Markup - H.R. 166; H.R. 1188; H.R. 1443; H.R. 2570; H.R. 3007 and H.R. 3009

The House Committee on Financial Services will convene to mark up the following measures, in an order to be determined by Chairwoman Maxine Waters at 10:30am E.T. on Wednesday, May 12, 2021, and subsequent days if necessary, in a hybrid format in room 2128 of the Rayburn House Office Building as well as on the WebEx platform.

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• H.R. 166 the “The Fair Lending for All Act,” introduced by Mr. Green.

• H.R. 1188, the “Greater Accountability in Pay Act,” introduced by Ms. Velázquez.

• H.R. 1443, the “LGBTQ Business Equal Credit Enforcement and Investment Act,” introduced by Mr. Torres.

• H.R. 2570, the “Climate Risk Disclosure Act,” introduced by Mr. Casten.

• H.R. 3007, the “Disclosure of Tax Havens and Offshoring Act,” introduced by Ms. Axne.

• H.R. 3009, the “Improving Language Access in Mortgage Servicing Act,” introduced by Ms. Garcia (TX).

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Hearing page: https://financialservices.house.gov/c...

05/07/2021
Virtual Hearing - Equitable Algorithms: How Human-Centered AI Can Address Systemic Racism and Racial Justice

Task Force on Artificial Intelligence Chairman Bill Foster and Ranking Member Rep. Anthony Gonzalez host a virtual hearing entitled, “Equitable Algorithms: How Human-Centered #AI Can Address Systemic Racism and Racial Justice."

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Witnesses for this one-panel hearing will be:

• Stephen Hayes, Partner, Relman Colfax PLLC

• Melissa Koide, CEO, FinRegLab

• Lisa Rice, President and CEO, National Fair Housing Alliance

• Kareem Saleh, Founder, FairPlay AI

• Dave Girouard, Founder & CEO, Upstart

See more here: https://go.usa.gov/xHvmg

05/06/2021
Virtual Hearing - Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III

House Committee on Financial Services Chairwoman Maxine Waters and Ranking Member McHenry will host a virtual hearing entitled, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III."

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Witnesses for this one-panel hearing will be:

• Honorable Gary Gensler, Chairman, U.S. Securities and Exchange Commission

• Michael Bodson, President and Chief Executive Officer, The Depository Trust & Clearing Corporation

• Robert Cook, President and Chief Executive Officer, Financial Industry Regulatory Authority, Inc. (FINRA)

05/04/2021
Virtual Hearing - Built to Last: Examining Housing Resilience in the Face of Climate Change

Housing, Community Development, and Insurance Subcommittee Chairman Emanuel Cleaver II and Ranking Member Stivers are hosting a virtual hearing entitled, “Built to Last: Examining Housing Resilience in the Face of Climate Change."

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Witnesses for this one-panel hearing will be:

• Rodney Ellis, Commissioner, Harris County, Texas

• Ariadna M. Godreau-Aubert, Executive Director, Ayuda Legal Puerto Rico

• Andrew N. Mais, Commissioner, Connecticut Department of Insurance, , on behalf of the National Association of Insurance Commissioners

• Shelley Poticha, Chief Climate Strategist, Natural Resources Defense Council

• Stephen Ellis, President, Taxpayers for Common Sense

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the follow...
05/01/2021

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the May 6 full committee virtual hearing entitled: “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.”

Honorable Gary Gensler, Chairman, U.S. Securities and Exchange Commission

Michael Bodson, President and Chief Executive Officer, DTCC - The Depository Trust & Clearing Corporation

Robert Cook, President and Chief Executive Officer, Financial Industry Regulatory Authority, Inc (FINRA)

See more here: https://go.usa.gov/xHmEn

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the May 6 full committee virtual hearing entitled: “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III.”

Honorable Gary Gensler, Chairman, U.S. Securities and Exchange Commission

Michael Bodson, President and Chief Executive Officer, DTCC - The Depository Trust & Clearing Corporation

Robert Cook, President and Chief Executive Officer, Financial Industry Regulatory Authority, Inc (FINRA)

See more here: https://go.usa.gov/xHmEn

04/29/2021
Virtual Hearing - Closing the Racial and Gender Wealth Gap Through Compensation Equity

Diversity and Inclusion Subcommittee Chairwoman Joyce Beatty and Ranking Member Wagner will host a virtual hearing entitled, “Closing the Racial and Gender Wealth Gap Through Compensation Equity."

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Witnesses for this one-panel hearing will be:

• Dr. Andrew Chamberlain, Chief Economist, Glassdoor

• Emily M. Dickens, J.D., Chief of Staff, Head, Government Affairs and Corporate Secretary, Society for Human Resource Management (SHRM)

• Maya Raghu, Director of Workplace Equality and Senior Counsel, National Women's Law Center

• Dwana Franklin Davis, Chief Executive Officer, Reboot Representation

04/28/2021
Virtual Hearing - Examining the Role of Municipal Bond Markets in Advancing – and Undermining – Economic, Racial and Social Justice

On Wednesday, April 28, 2021, at 12:00 p.m. (ET) Oversight & Investigations Subcommittee Chairman Green and Ranking Member Barr will host a virtual hearing entitled, “Examining the Role of Municipal Bond Markets in Advancing – and Undermining – Economic, Racial and Social Justice."

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Witnesses for this one-panel hearing will be:

• William Fisher, Chief Executive Officer, Rice Capital Access Program
• Gary Hall, Partner and Head of Investment Banking (Infrastructure and Public Finance), Siebert Williams Shank & Co., L.L.C.
• Chelsea McDaniel, Senior Fellow, Activest
• Jim Nadler, Chief Executive Officer, Kroll Bond Rating Agency
• Chris Parsons, Professor of Finance, University of Southern California

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following stat...
04/27/2021

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the U.S. Department of Housing and Urban Development’s reversal of the Trump Administration’s attempt to weaken the Equal Access Rule.

“I am pleased that Secretary Fudge has reversed the previous administration’s efforts that would have gutted the Equal Access Rule,” said Congresswoman Waters. “Under President Obama, HUD instituted these rules to strengthen provisions of the Fair Housing Act and ensure individuals have equal access to services, benefits, and shelter provided through HUD programs, regardless of their gender identity or sexual orientation. In March of 2017, the Trump Administration undermined that rule by rescinding a Federal Register Notice that would have required owners and operators of HUD-funded homeless shelters to inform individuals of their rights. The Trump Administration worked tirelessly to dismantle and undermine protections like the Equal Access Rule, sending a clear message to industry actors and housing providers that the administration had no plans to take violations seriously. When the pandemic hit, the Trump Administration left millions of families with weakened fair housing protections meant to help the very people struggling the most during COVID-19, including people of color, immigrant communities, people with disabilities, and others....

See more here: https://go.usa.gov/xHnvQ

04/21/2021
Hybrid Markup - FY2022 Budget Views and Estimates; H.R. 1087; H.R. 1187; H.R. 1277; H.R. 2123; H.R. 2516; H.R. 2543; H.R. 2547; H.R. 2553; Resolution to establish the Task Force on Artificial Intelligence & Resolution to establish the Task Force...

The full Committee will convene to mark up the following measures, in an order to be determined by the Chairwoman at 10:00am E.T. on Tuesday, April 20, 2021, and subsequent days if necessary, in a hybrid format in room 2128 of the Rayburn House Office Building as well as on the WebEx platform.

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1. Views and Estimates for the Fiscal Year 2022 Budget Resolution
Clause 4(f) of Rule X of the Rules of the House of Representatives and section 301(d) of the Congressional Budget Act of 1974 require each standing committee to submit to the Committee on the Budget their views and estimates on programs within their jurisdiction. These views and estimates are required to include a detailed list of planned legislative initiatives and their financing. The views and estimates are submitted to the Committee on the Budget for its consideration to formulate a budget resolution. Under section 4(f) of Rule X, the views and estimates must be submitted within six weeks of the submission of the President’s budget, or at such time as the Committee on Budget may request. Chairman Yarmuth has requested that Committees provide their views and estimates of the Fiscal Year 2022 budget by May 7, 2021. The committee print circulated with this memo constitutes the Committee’s proposed views and estimates.

2. Resolution to establish the Task Force on Artificial Intelligence (Rep. Waters)

3. Resolution to establish the Task Force on Financial Technology (Rep. Waters)

4. Amendment in the Nature of a Substitute to H.R. 1087, “Shareholder Political Transparency Act” (Rep. Foster)

5. Amendment in the Nature of a Substitute to H.R. 1187, “ESG Disclosure Simplification Act” (Rep. Vargas)

6. Amendment in the Nature of a Substitute to H.R. 1277, “Improving Corporate Governance Through Diversity Act” (Rep. Meeks)

7. Amendment in the Nature of a Substitute to H.R. 2123, “Diversity and Inclusion Data Accountability and Transparency Act” (Rep. Beatty)

8. Amendment in the Nature of a Substitute to H.R. 2516, “Promoting Diversity and Inclusion in Banking Act” (Rep. Green)

9. Amendment in the Nature of a Substitute to H.R. 2543, “Federal Reserve Racial and Economic Equity Act” (Rep. Waters)

10. Amendment in the Nature of a Substitute to H.R. 2547, the “Comprehensive Debt Collection Improvement Act” (Rep. Waters)

11. Amendment in the Nature of a Substitute to H.R. 2553, “Real Estate Valuation Fairness and Improvement Act” (Rep. Cleaver)

Markup page: https://financialservices.house.gov/c...

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