ICYMI: Maxine Waters, Ranking Member, Joins CNBC to Call for Affordable Housing Solutions in Los Angeles and Regulations to Protect Consumers from Bank Failures


This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, joined Sara Eisen of CNBC’s Money Movers to discuss the latest news in Congress, particularly within the Financial Services Committee.  

During the discussion, they covered a range of topics, including our nation’s growing housing and homelessness crisis and the dire situation in Los Angeles, where over 70,000 individuals are experiencing homelessness, reflecting a broader crisis in the United States where over 650,000 people are experiencing homelessness. Waters outlined her comprehensive legislative housing package aimed at tackling this growing crisis across Los Angeles and the entire country. This includes: 

·         HR 4233, the “Housing Crisis Response Act,” which represents the housing investments that were previously included in Build Back Better Act. This bill would invest more than $150 billion in fair and affordable housing investments to create nearly 1.4 million affordable and accessible homes, reduce housing costs for all, and help address stubborn core inflation; 

·         HR 4232, the “Ending Homelessness Act,” which would end homelessness and significantly reduce poverty by transforming the Housing Choice Voucher program into a federal entitlement, so that every household who qualifies for assistance receives it; and 

·         HR 4231, the “Downpayment Toward Equity Act,” which would help revive the dream of homeownership for all by providing $100 billion in direct assistance to help first-time, first-generation homebuyers cover downpayments, closing costs, and buydown mortgage interest rates. 

In addition to housing, Waters reflected on the current state of banking, and underscored the efforts of Committee Democrats to safeguard consumers from bank failures. Waters also highlighted support for bank regulators in implementing measures to strengthen capital requirements for our nation’s biggest banks. 

For months, Waters has led the push in Congress for increased capital requirements in order to protect working families from another financial crisis, similar to the 2008 recession, where corporate executives escaped unscathed with substantial bonuses while working families were forced to bail them out. 

Watch the full interview HERE.