Waters Announces Fall Priorities for Financial Services Committee

Last Friday, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, announced the Committee’s fall priorities, which includes cryptocurrency and workplace diversity.

According to the press release, the Committee will hold several hearings on minority depository institutions, stock buybacks, and innovations in loan instruments. The Committee also expects to hear testimony from several government officials, including Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger, Treasury Secretary Steven Mnuchin, Federal Housing Finance Agency Director Mark Calabria, and Federal Reserve Vice Chairman Randal Quarles.

The Press Release also mentioned that the Committee will encourage and regulate innovation by exploring data privacy, examining the use of artificial intelligence in financial services, and reviewing the evolution of payments and cash.

Congresswoman Waters also took time to praise the accomplishments of the House Financial Services Committee during the first half of the year:

• 105 legislative measures have been introduced by Committee Democrats.
• 78 financial services bills have been considered in legislative hearings.
• 64 financial services bills, introduced by Committee Members, have passed in Committee or the House.
• 40 financial services bills have been marked up in Committee.
• 24 financial services bills have passed the House.
• 15 financial services bills, introduced by freshman Democrats, passed in Committee or the House.
• 13 financial services industry CEOs were held accountable by the Committee.
• 2 financial services bills were enacted into law.

Members of Congress return to Washington, D.C. on September 9 after having been on August Recess since July 26.