Rep. Maxine Waters To Head House Financial Committee

 

 

Contributed by Anaya Ray 

As the midterm elections came to a close the Democrats officially won a majority in the United States House of Representatives. Among those democrats is Rep. Maxine Waters.

As reported by WUSA9, since the democrats have gained control of the House, Waters will likely oversee the House Financial Committee.

If Waters is in charge of the House’s finances many citizens wonder if she will have the power to subpoena President Trump‘s bank records and taxes.

For those still wondering, whoever becomes the overseer for the House’s finances will be able to subpoena the president’s financial matters, because the House Financial Services Committee has a wide-range jurisdiction over many areas including the banking system, insurance, housing, the economy, and much more.

With Waters set to chair the House’s finances many believe she will rattle the status quo and combat many financial issues under Trump’s presidency.

According to the Washington Times, Waters is not a fan of the nation’s biggest banks and Wall Street, and has been very vocal about the president and his administration. She has opposed Trump’s political appointees who want to roll back regulations on banks calling for the exact opposite.

Her stance on banking in America is at odds with the normal agenda of the president and his allies in Congress. For months Waters has been outspoken on the issue and this past fall, under her leadership, a report was issued calling for Wells Fargo to shut down after a number of high-profile scandals arose. Also, in July, during an interview at CNBC’s Capital Exchange, the California representative promised higher fines for financial institutions who disregard the law, according to CNBC.

 

 

Waters continues to be the top Democrat on the banking panel since Barney Frank, former Massachusetts’ congressman, who retired in 2013. Unfortunately, while this may be so, and while Waters will likely be head of the House’s finances, the Democrats will not be able to regulate major change without a majority of the Senate.

Although many believe there will not be major change, especially with Trump still in the oval office, Waters is still determined to make a stance regardless.

“I don’t care what he calls me. I know who I am. I know what I do,” Waters said at the Capital Exchange event.

“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.”

WHUR Contributor


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