House Committee on Financial Services - Democrats

The Trump Administration has no shame. At yesterday's hearing Ranking Member @RepMaxineWaters asked @SecScottBessent if he wrote a letter to investors warning that "tariffs are inflammatory." He lied and said "NO" Later he doubled down on the lie with Vice RM @RepCasten.

WATCH: Task Force RM @RepJuanVargas at today's hearing examining the Treasury-Fed Accord: "History gives us a clear warning in Argentina & Zimbabwe, governments that use their central banks to finance debt triggered hyperinflation & economic collapse." 📺: tinyurl.com/mut4d7wx

Happening Now - Task Force Ranking Member @RepJuanVargas leads Democrats as the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity holds a hearing entitled “Revisiting the @USTreasury-@federalreserve Accord” 💻: tinyurl.com/mut4d7wx

Subcommittee Ranking Member @RepBeatty at today's hearing on @EximBankUS oversight: "90% of Ex-Im authorizations directly benefit U.S. small businesses... Ex-Im helps to develop the playing field so that small & medium sized companies can better compete for global sales." WATCH:

Today at 10 AM - Subcommittee Ranking Member @RepBeatty leads Democrats as the Subcommittee on National Security, Illicit Finance, and International Financial Institutions holds a hearing entitled “Oversight of the @EximBankUS Bank.”

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WATCH: Ranking Member @RepMaxineWaters at today's hearing on financial privacy framework: “Committee Democrats believe... we must strengthen – not weaken – protections to make sure corporations, data brokers, law enforcement, and most importantly, the Trump Administration cannot misuse our personal information.” 🔗: tinyurl.com/2eh5yd6s

Your digital footprint shouldn't be a tool for corporate or government abuse. @USHouseFSC believe in: • Giving you control over your own data • Building guardrails against data brokers • Protecting your info from the Trump Admin & law enforcement 💻: tinyurl.com/4av8yrdc 📻: tinyurl.com/5n8tcuwa

We know you don’t care about consumers. You are trying to eliminate the CFPB, have done nothing about rising housing and grocery costs, and now with your unlawful and unprepared war, you are further raising gas prices for everyone.

#TODAY @ 10:00 AM - Ranking Member @RepMaxineWaters leads Democrats as the full Committee holds a hearing entitled “Updating America’s Financial Privacy Framework for the 21st Century.”
 Watch or listen:
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At a Subcommittee hearing on fighting financial fraud Ranking Member @RepMaxineWaters called out Republicans for attacking the CFPB, the agency whose primary mission is to protect consumers from deceptive and abusive practices in the financial system. "Let truth come out, and let people know where fraud is really coming from and that the opposite side of the aisle is not doing a darn thing about it." WATCH:

On the three-year anniversary of the failure of Silicon Valley Bank, Ranking Member @RepMaxineWaters, reintroduces legislation and urges action to strengthen our banking system. READ🔗: tinyurl.com/bp55jxvh

Ranking Member @RepMaxineWaters and Representatives @NydiaVelazquez, @RepJuanVargas, and @RepSylviaGarcia urge @HUDgov Secretary Turner to withdraw cruel rule targeting mixed-status families. 🔗: tinyurl.com/yxyjkxtj

Subcommittee on Capital Markets Ranking Member @BradSherman's remarks on yesterday's hearing examining the role of Self-Regulatory Organizations in U.S. markets: "There has not been a decline in the number of people trying to fleece investors. It is a shame that the SEC enforcement budget has been cut, and it should not be cut further by assigning new responsibilities under the existing budget." WATCH:

FINRA & MSRB are pseudo-governmental bodies responsible for oversight of broker-dealer and municipal bonds. Their track record speaks for itself: 🚫Misconduct 🚫Conflicts of interest 🚫Weak penalties, and 🚫Sky-high executive pay We need watchdogs that are actually independent, not industry-controlled groups that treat fines as a "cost of doing business." 📺: tinyurl.com/dtw9jdty

Republicans held a hearing on combatting financial fraud, while the Trump Admin. has dismantled the #CFPB, the agency tasked with doing just that. At today's @USHouseFSC hearing, I made clear: if we’re serious about stopping fraud, we need to restore the CFPB. (1/2)

Happening now - Subcommittee Ranking Member @BradSherman leads Democrats as the Subcommittee on Capital Markets holds a hearing entitled “The Role of Self-Regulatory Organizations in U.S. Markets: Examining FINRA and the MSRB.” WATCH 💻: tinyurl.com/dtw9jdty

Subcommittee on Financial Institutions Ranking Member @RepBillFoster at today's hearing on fighting fraud: "It is essential to also recognize the role of the [CFPB] that it played, in countering fraud and scams… This work is important, and this committee should put pressure to restore the CFPB so that it can continue that important work." WATCH:

Happening now - Subcommittee Ranking Member @RepBillFoster leads Democrats as the Subcommittee on Financial Institutions holds a hearing entitled “Fighting Fraud on the Front Lines: Challenges and Opportunities for Financial Institutions.”
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Ranking Member @RepMaxineWaters at today's markup: “None of the bills before us will lower costs for Americans. Instead... Republicans want to play around with the price of shrimp.” 🔗: tinyurl.com/3vejns9a WATCH:

When AI developers tell us when to use the brakes on their products, we should listen. Instead of listening, the Pentagon is threatening. We may not be any safer with machines that can think like humans, but humans absolutely become less safe when we think like machines.