Democratic House Victory Means Maxine Waters Will Soon Help Regulate The Country's Biggest Banks

Reclaiming our finances?

Photo Credit: Getty Images

| November 07 2018,

1:01 pm

Congresswoman Maxine Waters continues to be a force to reckoned with, and her impact just became even more far-reaching.

With Tuesday's Democratic wins in the House of Representatives, the California representative is soon to become chair of the House Financial Services Committee.

As the leading Democrat on the minority committee, Waters shared with CNBC that she would focus on change within the Consumer Financial Protection Bureau and push for housing finance reform. While major regulation reform may not happen without a majority in the Senate, she does plan to use her authority to target major banking institutions like Wells Fargo and Bank of America.

“For everything that we have tried to do to bring about some fairness and justice for these financial services companies and etcetera, we have absolutely been fought against by Republicans,” Waters stated to MSNBC on Tuesday.

Like with many other prominent Black figures, Trump has regularly attacked Waters on Twitter, saying she is a woman with an “extraordinarily low IQ,” while also referencing new House Majority winner Nancy Pelosi. 

"I don't care what he calls me. I know who I am. I know what I do," Waters asserted. "I am perfectly comfortable with me. He can call me whatever he wants to; he does not intimidate me, and I am not going to stop talking about him."

Back in August, colleague Pelosi tweeted "Happy Birthday" to Waters, stating that she's a woman who "strikes fear in the heart of Donald Trump." 

Waters' supporters, including Ava DuVernay, went on Twitter to share her support for her new role.



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