As regulators loosen bank rules, newly empowered House Democrats push back
WASHINGTON - At the first hearing of the House Financial Services Committee since the midterm elections, Rep. Maxine Waters didn't waste any time Wednesday in warning a top bank regulator that things will change under the incoming House Democratic majority.
"Make no mistake ... the days of this committee weakening regulations and putting our economy at risk of another financial crisis will come to an end," said the California Democrat, who is expected to become chairwoman of the committee when the new Congress is seated in January.
Regulators appointed by President Donald Trump, urged on by congressional Republicans, have been loosening the
