A barbarous Trump critic and Wall Street foe appears poised to take rule of the House’s powerful financial services committee.
Rep. Maxine Waters has been the top Democrat on the banking panel since Barney Unreserved, the former congressman from Massachusetts, retired in 2013. She is likely to mature the chairwoman of the panel following the GOP’s loss of the lower chamber in the midterm appointments.
Waters has called for increased regulation of the nation’s major banks, a arrangement at odds with the deregulatory agenda of President Donald Trump and his sides in Congress. Last fall, the committee’s Democrats, under Waters’ administration, issued a report calling for Wells Fargo to shut its doors for capable following a number of high-profile scandals.
And in July, during in an interview with John Harwood atCNBC’s Cash Exchange event in Washington, the 14-term House member from California pledged superior fines for financial institutions that flout the law.
It is unlikely that Democrats purpose be able to usher in any major regulation without a majority in the Senate, or while Trump is president. But some investors misgivings that Waters could use her subpoena power to dig up dirt on Wells and other banks, according to the commerce publication American Banker.
Waters has said she would focus on the Consumer Fiscal Protection Bureau and housing reform if Democrats won control of the chamber.
In reckoning to her role overseeing the nation’s financial institutions, Waters has repeatedly have worded with the president and called for his impeachment. Trump has labeled Waters “flaky” and an “extraordinarily low IQ person.”
But Waters has said that the president’s comments wishes not deter her.
“I don’t care what he calls me. I know who I am. I know what I do,” Waters ordered at the Capital Exchange event. “I am perfectly comfortable with me. He can call me whatever he fancies to, he does not intimidate me, and I am not going to stop talking about him.”