WASHINGTON—New House Financial Services Committee Chairwoman Maxine Waters (D-CA) has outlined issues she'd like to address in the 116th Congress and
specifically said she plans to maintain transparency and access to the mortgage market to ensure credit unions and community banks are not disadvantaged.
Waters said that America's housing market has an affordability and availability crisis and her efforts will be centered around generating a surge of funding and resources to help create safe, decent, affordable homes. On GSE reform, Waters plans to maintain access to 30-year mortgages and appropriate capital reserves, and will work to ensure a smooth transition – including transparency and access in the market to not disadvantage credit unions – to a new system.
Other priorities on Waters' list included credit score reform, approach to the Bureau of Consumer Financial Protection and diversity and inclusion in the housing market.
“The 116th Congress is the most diverse in U.S. history and I am very pleased that the Financial Services Committee Democratic Caucus will reflect its diversity,” said Waters in a statement. “We have new members bringing fresh ideas and a wide range of perspectives, as well as experienced lawmakers championing and leading on important issues that affect all Americans. I welcome the new members of the Committee and am looking forward to working together with all of our members to advance solutions to benefit and protect hardworking Americans.”