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Maxine Waters says Biden win is 'dawn of a new progressive America'

Maxine Waters says Biden win is 'dawn of a new progressive America'
© Bloomberg/Pool

House Financial Services Chairwoman Maxine WatersMaxine Moore WatersOn The Money: Democrats accuse Mnuchin of sabotaging economy in dispute with Fed | Trump administration proposal takes aim at bank pledges to avoid fossil fuel financing | JPMorgan: Economy will shrink in first quarter due to COVID-19 spike Democrats accuse Mnuchin of sabotaging economy in dispute with Fed Maxine Waters says Biden win is 'dawn of a new progressive America' MORE (D-Calif.) on Thursday touted the election of President-elect Joe BidenJoe BidenHarris says she has 'not yet' spoken to Pence Kamala Harris, Stacey Abrams among nominees for Time magazine's 2020 Person of the Year Obama: Republican Party members believe 'white males are victims' MORE, predicting it would usher in "the dawn of a new progressive America."

Waters made the comment at a hearing with Trump appointees to various financial agencies and institutions, including the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration.

During the hearing, Waters suggested several potential rollbacks of Trump-era moves by the agencies would be on the agenda in a Biden administration. She specifically referenced changes the OCC made to Community Reinvestment Act regulations around redlining, or the practice of declaring areas off-limits to mortgage lending, usually on a racial basis.

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The California Democrat asserted that Biden's electoral win gave him a "mandate to reverse the harmful policies of the Trump administration."

"I'm putting our witnesses on notice that I will be working with the Biden administration to roll back these rules," Waters said.

"We are emerging from the dark days of the Trump administration into the dawn of a new progressive America, where pro-consumer and pro-investor policies will always be first on the agenda," she added later.

Ranking member Patrick McHenryPatrick Timothy McHenryMaxine Waters says Biden win is 'dawn of a new progressive America' McCarthy: 'I would think I already have the votes' to remain as House GOP leader Ex-RNC, Trump fundraiser Elliott Broidy charged in covert lobbying scheme MORE (R-N.C.) pushed back by citing Democratic losses in House elections this year, saying he did not consider it an endorsement of policies advocated by the "woke left."

"We have more Republicans in the next Congress in the House of Representatives because, quite frankly, the far left went so far. And so, while you may have had some successes in the election, I don't think it's a wide endorsement of a far-left policy agenda that the chair noted,” he said.