Rep. Maxine Waters reportedly wants global finance organizations overseen by a subcommittee that looks into terrorism and criminal finance

by CNBC
November 20, 2018

Rep. Maxine Waters hopes to make changes to the House Financial Services Committee that could have implications for one of President Donald Trump’s favorite lenders, Axios reported late Sunday.

However, the possible tweaks to the panel that the outlet described may not affect German institution Deutsche Bank — which Waters has promised to look at more closelydue to its relationship with Trump.

When her party takes control of the House in January, the California Democrat will likely lead the House Financial Services Committee. Aside from her goal of probing Deutsche Bank, she has also pledged to fight White House efforts to roll back bank regulations. With a majority, Democrats will gain subpoena power.

Axios reported that the potential committee changes would put oversight of “international financial institutions” within the Terrorism and Illicit Finance Subcommittee and get rid of the Monetary Policy and Trade Subcommittee. Waters is among the Democrats who have asked Deutsche Bank for information about its loans to Trump and his family, including whether they were guaranteed by the Russian government. Regulators have ordered the firm to take steps to curb money laundering.

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