Rep. Maxine Waters to Take Aim at Wells Fargo, Deutsche Bank as Head of House Finance Committee

Nearly 200 black female leaders and allies outside of Congress have signed a letter calling on top congressional Democrats to defend Rep. Maxine Waters after she was criticized by members of her own party for urging people to protest President Donald Trump's Cabinet members in public spaces. (Credit: Jacquelyn Martin/AP via CNN)

Nearly 200 black female leaders and allies outside of Congress have signed a letter calling on top congressional Democrats to defend Rep. Maxine Waters after she was criticized by members of her own party for urging people to protest President Donald Trump's Cabinet members in public spaces. (Credit: Jacquelyn Martin/AP via CNN)

Rep. Maxine Waters plans to zero in on two big banks — Wells Fargo & Co. and Deutsche Bank — when she becomes head of the powerful House Financial Services Committee.

The Los Angeles congresswoman, now the committee’s top Democrat, is widely expected to gain the gavel after her party won control of the House in last week’s elections. While Waters has outlined a wide-ranging agenda, she said her focus on bank oversight will target two large institutions she has been tangling with for a while — including one, Deutsche Bank, that spills into her bitter feud with President Trump.

“With Trump in the White House, I know that our fight for America’s consumers and investors will continue to be challenging. But I am more than up to that fight,” Waters wrote in a letter last week to her Democratic colleagues on the committee that was obtained by The Times.

Wells Fargo and Deutsche Bank, the large German financial institution that has had a long relationship with Trump, were the only two banks specifically mentioned in the eight-page letter, which was first reported by Bloomberg.

Read the full story on LATimes.com.

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