Maxine Waters wants terror finance panel to oversee foreign banks: Report

Finance


The Democratic representative also proposes to swap the word “Credit” for “Protection” in the Financial Institutions and Consumer Credit Subcommittee. That signals a focus on shielding consumers from business malpractice — something she has said the Consumer Financial Protection Bureau under its head Mick Mulvaney has failed to do. Mulvaney and other conservatives have argued that the bureau was a form of government overreach.

A spokeswoman for Waters did not immediately respond to CNBC’s request to comment on the report.

Waters is one of a number of prominent Democrats who have to decide how to handle the party’s first control of the House in eight years. Democrats in part want to use their power to check what they deem abuses and overreach by the Trump administration.

But some worry that action too drastic could alienate the more moderate voters who supported Democrats in the red-leaning districts that drove the party’s push for a House majority.

Read the full Axios report here.

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