Representative Maxine Waters, who has built a brand around her frustration with President Donald Trump, might soon have a new tactic to use against him.
Waters, a Democrat from California, is now part of the party with control of the House of Representatives, following Tuesday’s midterm elections, and Waters will now have subpoena power, since she will be the head of a powerful congressional committee, overseeing the financial sector, The Hill reported.
Waters will be the head of the House Financial Services Committee which would give her the authority to investigate Trump’s bank transactions.
Waters has also proposed that large banks should be broken up, and industry representatives are bracing for impact, as Waters prepares to pursue her agenda.
“The ball’s going to be in her court,” said Richard Hunt, president, and CEO of the Consumer Bankers Association. “We’re not going to undermine the reputation risk in front of us.”
Waters’s said on Wednesday on Bloomberg TV that she will not just be focused on the president though.
“The first thing we have to understand in this committee is that we have a lot of issues and a lot of concerns, and I’m not just focused on the president,” Waters said Wednesday on Bloomberg TV. “That’s just one piece of the business we have to do.”
President and CEO of the National Association of Federally Insured Credit Unions, Dan Berger, said he expects the panel to address a number of issues, that are not all going to be partisan.
“There’s going to be a strong focus on financial inclusion, education, and data security,” Berger said. “We don’t see necessarily risks for us. We see risks for the big banks and Wall Street banks and predatory lenders.”
Wells Fargo, who will likely be a target for Waters due to its recent scandals, said that “remains committed to working with lawmakers on both sides of the aisle, including Congresswoman Waters.”