Rep. Waters changes stance toward financial industry

05/12/2013 | New York Times (tiered subscription model), The

Rep. Maxine Waters, D-Calif., has been an outspoken critic of the financial industry over her more than two decades in Congress. Now that Waters is the ranking Democrat on the influential House Financial Services Committee, her stance toward the industry appears to have softened. She has met with Wall Street CEOs such as JPMorgan Chase's Jamie Dimon and Wells Fargo's John Stumpf. Waters has also adjusted her position on regulatory changes. "She clearly understands that her role has changed," said Kenneth Bentsen Jr., acting president and CEO of the Securities Industry and Financial Markets Association. "But Maxine Waters is no shrinking violet, and I don't think any of that's going to change."

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