Maxine Waters

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1 minute to the gentleman from Maryland (Mr. Sarbanes), the leader of the Democracy Reform Task Force.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 2 minutes to the gentleman from Rhode Island (Mr. Cicilline), the ranking member on the Subcommittee on Regulatory Reform, Commercial and Antitrust Law.

Ms. MAXINE WATERS of California. Mr. Speaker, my colleagues on the opposite side of the aisle hate Mr. Cordray so much because he has been so effective, returning $12 billion to consumers, that they would harm the American public rather than admit that they are wrong. Mr. Speaker, I yield 2 minutes to the gentleman from Virginia (Mr. Scott), the ranking member of the Committee on Education and the Workforce.

Ms. MAXINE WATERS of California. Mr. Speaker, I am sick and tired of my colleagues on the opposite side of the aisle talking about this $32. Republicans keep discussing that consumers get $32 in class action, but they ignore how few consumers win in arbitration. Big banks win 93.1 percent of the time in arbitration. The deck is stacked against consumers, not Wall Street. Mr. Speaker, I yield 2 minutes to the gentleman from Georgia (Mr. Johnson), a leading member on this consumer arbitration issue.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1 minute to the gentleman from Illinois (Mr. Foster), a member of the Financial Services Committee.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1 minute to the gentleman from California (Mr. Sherman), a senior member of the Financial Services Committee and Foreign Affairs Committee.

Ms. MAXINE WATERS of California. Mr. Speaker, I demand a recorded vote.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 2 minutes to the gentleman from Minnesota (Mr. Ellison), a leading member on this consumer issue.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1 minute to the gentlewoman from New York (Ms. Velazquez), a senior member of the Financial Services Committee and ranking member of the Small Business Committee.

Ms. MAXINE WATERS of California. Mr. Speaker, the Republicans are siding with Big Business again, against our consumers. Mr. Speaker, I yield 1 minute to the gentlewoman from California (Ms. Pelosi), the distinguished leader and a strong supporter of consumers and the Consumer Financial Protection Bureau.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield the gentlewoman an additional 10 seconds.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1\1/2\ minutes to the gentlewoman from New York (Mrs. Carolyn B. Maloney), who is a senior member of the Financial Services Committee and ranking member of the Subcommittee on Capital Markets, Securities, and Investments.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, H.J. Res. 111 is an affront to hardworking Americans across the country. Using the Congressional Review Act, this joint resolution repeals the Consumer Financial Protection Bureau's final rule to curb forced arbitration clauses in contracts for consumer financial products. Today, many banks require consumers wanting to open a bank account, get a credit card, or take out a private student loan to enter into forced arbitration agreements that take away their rights to collectively sue the bank for any harm. Instead, consumers must go through bank-friendly arbiters to resolve their grievances. These contracts are literally buried deep into the fine print, enshrouded in legalese. Consumers don't know what they are giving up--but the banks do. Arbitration proceedings, which happen behind closed doors, have no judge and no jury. Their proceedings and their outcomes heavily favor big businesses and Wall Street. Studies have shown that forced arbitration favors big business and results in less compensation for American consumers who have been abused or defrauded, if they receive any at all. Simply put, forced arbitration is an instrument that benefits large corporations and Wall Street banks, and it hurts consumers. For example, everybody remembers Wells Fargo. Wells Fargo continues to use forced arbitration to prevent consumers from working together to sue the bank for opening up millions of fraudulent accounts using their personal information. Just weeks ago, the Consumer Bureau used a critical rule to finally clamp down on forced arbitration clauses. The Consumer Bureau should be applauded for taking this step to help consumers by fully restoring their legal rights. Once again, the Consumer Bureau has acted to make our financial marketplaces fairer and transparent. As is their practice, the Consumer Bureau issued this rule after careful deliberation and exhaustive review. As part of this deliberative process, they issued a 728-page report on the issue, considered views from all stakeholders, and consulted carefully with the other Federal financial regulators. The Consumer Bureau's final rule has widespread support, including from over 310 consumer, civil rights, faith-based, and senior groups, 256 law professors and scholars, and the Military Coalition, an organization that represents 5.5 million current and former servicemembers and their families. Now, this rule was just finalized, but congressional Republicans are already shamefully forging ahead to cut it off at the knees. This resolution wouldn't just nullify the rule, it would also prevent the Consumer Bureau from ever issuing a rule that is ``substantially similar.'' That means, if Republicans pass this resolution into law, then, for the foreseeable future, consumers will be robbed of important legal rights and generally left at the mercy of industry-friendly auditors. Let's be clear. There is absolutely no valid public policy rationale for repealing this rule. It is a part of a pattern from congressional Republicans of irrational hostility toward the Consumer Bureau and its work and a callous disregard for the issues facing America's consumers. But just as they have with the ``Wrong'' CHOICE Act, Republicans are pushing an anticonsumer agenda that puts profits over people. Enough is enough. We must hold true to a fundamental principle of our democracy that each of us has a right to trial if we so choose. The rule fully restores this right to American consumers by giving them a choice between arbitration or the free exercise of their Seventh Amendment right to a trial by jury through whatever means they choose. So I urge all of my colleagues to vote ``no'' on this senseless and harmful resolution, and I reserve the balance of my time.

Ms. MAXINE WATERS of California. Mr. Speaker, I yield 1 minute to the gentleman from Massachusetts (Mr. Capuano), a senior member of the Financial Services Committee and a strong progressive member.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I thank Ranking Member Engel for his leadership and for yielding me time. I thank Chairman Royce for his leadership and the way that he has worked with our side of the aisle. Mr. Speaker, I rise in support of the Russia, Iran, and North Korea Sanctions Act, legislation that is desperately needed to prevent this administration from rolling back sanctions tied to Russia's invasion of Ukraine and interference in our election. This bill's enhanced sanctions on Russia are important in light of the actions of Russian President Vladimir Putin, not to mention the many ties between the Trump administration and the Kremlin. In a recent development, the Treasury Department confirmed that ExxonMobil violated existing Russian sanctions while under the leadership of Rex Tillerson, who is now Donald Trump's Secretary of State. Indeed, in 2014, Exxon signed documents related to oil and gas projects in Russia with Igor Sechin, president of Rosneft, a Russian state-owned oil giant. Sechin was one of the individuals subject to sanctions. Exxon was fined a mere $2 million--a slap on the wrist for a company that earned $7.8 billion in profits in 2016. Russia is continuing its aggression in Ukraine. It is supporting the murderous regime of Bashar al-Assad in Syria. It interfered in the 2016 U.S. election. That is why we must strengthen the sanctions against Russia, and we must block Rex Tillerson and Donald Trump from waiving or lifting those sanctions without review. Before closing, I would also note that the legislation before us also includes several measures championed by Democrats on the Financial Services Committee. These provisions will focus the government on creating a national strategy to combat the financing of terrorism, enhance Treasury's tools for combating money laundering vulnerabilities such as the well-known risk in high-end real estate, and help address the de-risking trend that is driving fund transfers into the shadows.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I rise today with great pride to join millions of people around the world to honor the life and legacy of South African President Nelson Mandela on Nelson Mandela International Day. I submitted comments for the Record this morning, but I would like to highlight a few key points. In his 95 years of life, President Mandela was a transformative leader who forever changed the world through his steadfast dedication to freedom, equality, and human rights. After spending 27 years in prison, Nelson Mandela became the first Black South African to be elected President and used his administration to dismantle apartheid, combat institutional racism, and begin the process of racial reconciliation in his country. To me, however, Nelson Mandela was more than a world-renowned leader. I had the distinct honor and privilege of calling him a friend. His courageous leadership in the antiapartheid movement encouraged me to join in the fight, which, to this day, is one of the most defining moments of my life. We will forever be indebted to Nelson Mandela, who taught the world the power of one man having the fortitude to sacrifice his own ideals for a cause greater than himself.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I rise today with great pride as I join with millions of people around the world who are honoring the life and legacy of South African President Nelson Mandela on the day that the United Nations General Assembly has designated ``Nelson Mandela International Day'', in recognition of his lifetime of service in South Africa and all over the world. In his 95 years of life, President Mandela, or `Mandiba' as he was affectionately called, was a revolutionary and transformative leader who forever changed the world through his steadfast dedication to freedom, equality, and human rights. After spending 27 years in prison, Nelson Mandela became the first black South African to be elected President in what was also the first free, multi-racial, democratic election in South African history. While President Mandela used his administration to dismantle apartheid, combat institutional racism, and begin the process of racial reconciliation in his country, his efforts also taught the world the power of one man having the fortitude to sacrifice his own ideals for a cause greater than himself. Beginning with his time as the founder of the African National Congress Youth League and extending beyond his tenure as President of South Africa, Nelson Mandela led the anti-apartheid movement and inspired a generation of activists. To me, however, Nelson Mandela was more than a world-renowned hero--I had the distinct honor and privilege of calling him a friend. I credit him for his courageous leadership of the international anti-apartheid movement which encouraged me to join in the fight and is still, to this day, one of the most defining moments of my life and career. During the 1980s, I served as the Los Angles Chair of the Free South Africa Movement where I held regular meetings with community leaders, organized countless anti-apartheid rallies and marches, and led an overnight sit-in at the South African Consulate General Office in Los Angeles. As a member of the California State Assembly, I fought for nine years for the passage of Assembly Bill 134 which was signed into law in August of 1986 and forced California to divest $12 billion in state pension funds tied to the apartheid regime in South Africa. I also put my own freedom on the line when I was arrested for protesting the apartheid regime in front of the South African Consulate in Washington, D.C. In 1990, I had the distinct honoring of chairing the welcome committee for the Los Angeles stop on Nelson Mandela's eight-city U.S. tour and helped organize a concert and rally attended by 90,000 people in the Los Angeles Coliseum which was filled to capacity. In 1991, I took my first trip to South Africa after the ban on the African National Congress was lifted and the international boycott of South Africa was ended. During that inspirational trip, I joined with other international representatives in welcoming the end of the ban on the ANC and working for Nelson Mandela's release from prison, and I also traveled with the official United States delegation to South Africa in 1994 to attend his inauguration as President of South Africa. In 1998, I was honored to welcome President Mandela to the United States once again, this time to receive the U.S. Congressional Gold Medal. For Mandela's 95th birthday in 2013, I led the Congressional Black Caucus and Members of Congress in organizing a bipartisan celebration of his life and legacy. The hour-long event filled Emancipation Hall to capacity and included most of the congressional leadership, including House Speaker John Boehner (ROH), Democratic Leader Nancy Pelosi (D- CA), Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY). These leaders were joined by a large group of civil rights leaders, members of the African Diplomatic Corps, and the U.S. Ambassador to South Africa. Five months later upon his passing in December of 2013, I traveled to South Africa once again to attend his Memorial Service. So as we pause to reflect on Nelson Mandela's memory today, on what would have been his 99th birthday, let us all remember what he taught us when he said, `What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead.' Few embody this quote better than Nelson Mandela himself, and it is my sincere hope that my own career in public service lives up to his extraordinary example.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, I rise today on behalf of the Financial Services Committee, its Chairman, Mr. Hensarling, and the U.S. House of Representatives, as I pay tribute to one of the hardest working and dedicated employees this House has ever known. Mr. Speaker, for over 30 years Anita L. Johnson has served this chamber with distinction, undeniable integrity, humility, kindness, grace, and skill. For the past several years, she has worked ably and diligently as the Chief Administrative Officer for the Democratic Staff of the Financial Services Committee. Mrs. Johnson began her career on Capitol Hill in 1982 as the Office Manager and Personal Assistant to then-Congressman Harold Ford, Sr. In 1986 she became Office Manager and Personal Assistant to Congressman Sandy Levin. Although her husband's transfer relocated Mrs. Johnson away from Capitol Hill and back to her home town of Memphis, Tennessee, for three years, she returned to the Hill in 1989. For the next decade, she served as Executive Assistant and Clerk for the Education and Labor Committee Democrats. In 1999, she became the Chief Administrative Officer and Clerk for Democrats on the Judiciary Committee--a position she held for twelve years. In 2013, Mrs. Johnson joined the Financial Services Committee and has remained the Chief Administrative Officer and Clerk until her retirement today. From my time on the Judiciary Committee and as Ranking Member of the Financial Services Committee I have personally come to know Anita Johnson. She is a tireless and relentless worker, an excellent multi- tasker, doing whatever it takes to accomplish tasks both large and small. When everyone else is stressed because of the pressure, she remains calm. She is a true professional, whose expertise, integrity; dedication and commitment have served as an example to her peers and colleagues. Her willingness to go the extra mile, her insights and opinions have been extremely valuable to the successful undertakings of each office she has served--especially my own. She has flawlessly maintained budgets totaling millions of dollars, ensured the smooth running of each office in which she worked; skillfully clerked dozens of markups, and provided valuable assistance to myself, other Members, and staff. Prior to her time on the Hill, Mrs. Johnson was an educator teaching at Wooddale Senior High School (Memphis, TN); Hazelwood Senior High School (St. Louis, MO); Ivanna Eudora Kean High School (St. Thomas, USVI); and, Savannah Area Vocational Technical School (Savannah, GA). Additionally, Anita has been a member of the Washington Performing Arts Society Men and Women of the Gospel for years; and, has performed at the Kennedy Center, Carnegie Hall; TNT's ``Christmas in Washington''; and, the Kennedy Center Honors. With the Trinity Choir at Alfred Street Baptist Church, Alexandria, Virginia, Anita has also performed in Austria, Italy, Germany, Paris, Brussels, and Amsterdam. On behalf of the Financial Services Committee, its staff, and this distinguished body, we would like to thank Anita for her commitment to the U.S. House of Representatives and her exemplary service to this nation. Her humility, integrity, generosity, loyalty, sense of humor and professionalism will be sorely missed. She has served as a cherished colleague, mentor and friend to many present and former Hill staff members. We wish her the best of luck and extend to her our deepest gratitude as she leaves Capitol Hill.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, on behalf of the Democratic delegation of California, I am so very pleased to welcome the newest member of the California delegation, Congressman Jimmy Gomez. Congressman Gomez will represent the people of the 34th Congressional District. Congressman Gomez was elected to the California State Assembly in 2012 and reelected in 2014, and most recently in 2016, with over 86 percent of the vote, to represent California's 51st assembly district. In the assembly, Congressman Gomez was a national champion of paid family leave. Congressman Gomez authored and passed legislation, Assembly Bill 908, the Nation's most progressive expansion of paid family leave, that President Obama held as a model for Congress. Jimmy also authored legislation to address public health, environmental justice, water conservation, and access to education. We are all looking forward to Representative Gomez expanding and continuing his work in the United States Congress. I hope Members will all join me in welcoming him to Congress. Mr. Speaker, I yield to the gentleman from California (Mr. Gomez).

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Speaker, due to a medical emergency involving another passenger, my flight from Los Angeles, California to Washington, D.C. was forced to land mid-flight in Kansas City, Missouri. The flight was grounded for an hour before we were able to continue on to our final destination. Unfortunately, we were unable to make up enough time and I missed the votes on the House Floor scheduled for June 20, 2017 at 6:30 p.m. Had I been present, I would have voted YES on H.R. 2847, and YES on H.R. 2866.

Ms. MAXINE WATERS of California

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentleman from Texas (Mr. Doggett).

Ms. MAXINE WATERS of California. Mr. Chairman, continuing to answer Mr. Duffy about who opposes this bill, the Fleet Reserve Association, which includes the Navy, the Marine Corps, and the Coast Guard. With that, I yield 1 minute to the gentleman from Massachusetts (Mr. Lynch), a senior member of the Financial Services Committee.

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentlewoman from New York (Ms. Velazquez), who is the ranking member of the Small Business Committee.

Ms. MAXINE WATERS of California. Mr. Chairman, the gentleman asked: Who does not support this bill? Let me tell him: advocates, experts, civil rights groups, labor groups, veterans groups, pension plans, and company shareholders. We also received a petition urging a ``no'' vote from more than 220,000 concerned Americans. Let me just say that AARP hates this bill. That is who opposes this bill. Mr. Chairman, I yield 1 minute to the gentleman from California (Mr. Sherman), a senior member of the committee on Financial Services.

Ms. MAXINE WATERS of California. Mr. Chairman, I yield 1 minute to the gentleman from Texas (Mr. Al Green), who is the ranking member of the Subcommittee on Oversight and Investigations.