On Tuesday night, a blue wave took over the House of Representatives, flipping the House and giving Democrats control. The change sets up Congresswoman Maxine Waters as the potential head of the House of Financial Services Committee.
The Financial Services Committee is responsible for the entire financial services industry such as securities, insurance, banking, and housing industries. Waters told CNBC in July, that if given this position she has a list of things she plans to address such as affordable housing and fixing — Fannie Mae and Freddie Mac. Congresswoman Waters has been quite outspoken on her mission to impeach Donald Trump and with this new position, she now has the power to subpoena officials at financial regulatory agencies for information and testimonies.
She also has spoken out about banking regulation and pushed for “Megabank Accountability and Consequences Act” which would require banking regulators to use their power to shut down banks that harm consumers
Whatever happens in the coming months, with Waters being the Chair of The Committee, President Donald Trump should know that he’s under her watchful eye and the showdown between the two is just getting started.