Waters nominated to chair House banking panel

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WASHINGTON — Rep. Maxine Waters, D-Calif., has been officially nominated by the House Democratic Steering Committee to be the next chair of the House Financial Services Committee.

Waters, the current ranking Democrat on the committee, said she will push consumer protection initiatives, support affordable housing, encourage financial innovation, promote diversity and hold the Trump administration accountable.

“Appropriate oversight of the Trump Administration and the regulatory agencies under the Committee's jurisdiction will also be an important responsibility for the Committee,” Waters said in a press release late Monday. “Of particular importance is ensuring that the Consumer Financial Protection Bureau is not dismantled by Trump’s appointees. This critical agency must be allowed to resume its work of protecting consumers from unfair, deceptive or abusive practices without interference from the Trump Administration.”

Her comments came as Kathy Kraninger, who was a senior official at the Office of Management and Budget, was confirmed as the permanent director of the CFPB.

Waters’ nomination as chair of the House Financial Services Committee still needs to be approved by the full House Democratic caucus.

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