Items Tagged with 'Maxine Waters'

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  • MBA experts on GSE reform: Where does risk fall when it comes to reform?

    Hint: It’s not the capital buffer
    Fannie Mae and Freddie Mac are getting uneasily close to spending nearly a decade in conservatorship, with Sept. 6, 2008, officially marking 10 years. As conservations have slowly shifted from almost a joke to more of a serious possibility under the new administration, several experts at the Mortgage Bankers Association’s 2017 annual convention and expo weighed in on the probability reform and what lies ahead for reform.
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  • Waters' bill gives power to Fed to shut down megabanks

    Wells Fargo "definately qualifies" to be shut down
    House Committee on Financial Services Democrats announced a new bill that would give the federal government the power to shut down megabanks that repeatedly harm consumers. Maxine Waters said that, under her bill, Wells Fargo would “absolutely qualify” to be shut down.
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  • Watt suggests GSEs need to hold some capital, urges Congress to act on housing reform

    GSE capital buffer will hit 0 soon
    Federal Housing Finance Agency Director Mel Watt once again pressed Congress on the urgent need for housing finance reform due to the imminent government-sponsored enterprise capital buffer timeline. In less than three months, both Fannie Mae’s and Freddie Mac’s capital buffer will fall to zero. Is the market ready for this?
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  • House passes bipartisan reform to encourage private flood insurance

    Here's how this plays into the larger effort to reform the National Flood Insurance Program
    The House of Representatives voted Thursday to pass legislation that includes a bipartisan act that encourages the creation of private flood insurance markets. While this falls outside of the broader debate to reform the National Flood Insurance Program, it addresses a key issue in flood insurance coverage. But due to the timing of the legislation, it wasn’t nearly as bipartisan of a bill as it was in the past.
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  • CFPB, House Financial Services Committee begin investigating Equifax data breach

    Congressional hearings are coming
    The fallout from Equifax’s massive data breach that exposed the personal information of 143 million U.S. consumers is just beginning. In the wake of the company’s announcement, the Consumer Financial Protection Bureau, the House Financial Services Committee, and the office of New York Attorney General Eric Schneiderman stated that each is launching an investigation into the breach.
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  • Should SoFi be granted a bank charter? Rep. Waters isn't so sure

    FDIC decision pending
    As SoFi waits for a decision on its bank charter application, the request is drumming up a lot of criticism. On top of groups already writing letters in opposition to the move, Rep. Maxine Waters, D-Calif, added her name to the list of people questioning the application. Does this kill SoFi’s chance to ever be a bank?
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  • HUD tenants rally against proposed budget cuts

    Rep. Waters pledges to continue to fight
    The U.S. Department of Housing and Urban Development could be seeing come cuts to its budget if President Donald Trump’s budget is approved. However, tenants, homeowners and activists gathered throughout the U.S. to oppose the cuts and encourage their members of congress to vote against the budget.
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  • Rep. Waters reintroduces bill to fully fund public housing

    Serves to protect public housing as a "critical public asset"
    House Democrats on the Financial Services Committee reintroduced legislation last week to preserve and fund the nation’s public housing stock. One key part of the bill includes requiring a one-for-one replacement in cases where public housing units are demolished or sold. However, the bill will struggle to get off the ground if it doesn’t muster up any bipartisan support.
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  • Democrats on Treasury report: This attacks consumer protections

    It's just like the "Wrong Choice Act"
    To no one's surprise, Democrats came out vehemently against the new U.S. Treasury report on financial regulations that recommends gutting the Consumer Financial Protection Bureau and overhauling mortgage regulation. The comments from Democrats on the new Treasury report echo a lot of concerns they’ve already shared about the Financial CHOICE Act.
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