Maxine Waters

Thank you very much, Mr. Chairman. I thank you for holding this long overdue hearing on the Community Reinvestment Act, a law of immense importance that was put in place to ensure fair access to credit and banking services.

Whatever regulatory structure we land on, it should be a leveling up of our regulations, not a leveling down.

CRA is one of the most important and impactful civil rights laws applicable to federally insured banks.

I believe this is the correct approach and regulators should continue their work to fix this outdated regulation.

I urge the OCC, the FDIC, and the Fed to work in concert on CRA modernization in good faith.

I was informed that more than half of all of the mortgages issued last year came from nonbanks.

Thank you, Chairwoman Maxine Waters, for this opportunity to address the committee and to review GNO Fair Housing's efforts to live up to the mandate of the Fair Housing Act.

My bill, the Restoring Fair Housing Protections Eliminated by HUD Act, is designed to put protections that Ben Carson and the Trump Administration have diminished back in place.

I am very pleased that you are focusing on rural housing as the first hearing held by this subcommittee.

I cannot describe how pleased I am working with Mr. McHenry and the way that he has expressed to you in his presentation how we have worked together, and I thank him for that. I am very appreciative of that, and I will continue to work on…

Our nation's anti-money laundering framework needs an overhaul.

Trying to bring in the private sector to write flood insurance policies is incredibly important.

We have to address these repetitive loss properties. They are 2 percent of the properties, but they account for 24 percent of the costs.

This program is sick. We have problems in the Flood Insurance Program.

I intend to work in a bipartisan manner with Ranking Member McHenry to provide a long-term reauthorization to restore stability and confidence in the market.

I have long advocated for a long-term reauthorization of the NFIP in order to provide certainty in the housing market.

I have no further speakers, and I am prepared to close. I reserve the balance of my time.

One of the reasons that we pushed forward for the passage of the Dodd-Frank Wall Street Reform Bill, as well as the Consumer Financial Protection Bureau, was because we needed someone at the helm that would have the dexterity and the…

Thank you for the service that you undertake, and with that, I will yield back.

I am deeply concerned about the damage they have done.

One of the reasons that we pushed forward for the passage of the Dodd-Frank Wall Street Reform Bill, as well as the Consumer Financial Protection Bureau, was because we needed someone at the helm that would have the dexterity and the…

The thing that was most outrageous, and why I share this story. It is to show you how these issues not only impact disproportionately racial and ethnic minorities, but because she had no place else to go.

The decimation of the CFPB hurts all Americans. We should all be concerned and quite frankly outraged.

The income gap between white Americans and Americans of color continues to widen. Yet, our communities are consistently being targeted by nefarious financial servicers with their unsustainable wealth steaming products.

The NAACP is proud to support a number of pieces of legislation to rebuild the CFPB, most notably the bill which was introduced by you, Chairwoman Waters.