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Maxine Waters fights challenge to keep Financial Services gavel

Maxine Waters is fending off a challenge from Rep. Sean Casten to lead House Financial Services as allies call the push a snub to Black voters.

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Rep. Maxine Waters smiling in a gray top and silver statement necklace in her official congressional portrait

Rep. Maxine Waters is battling a fellow Democrat for control of the House Financial Services Committee. Her supporters say the push to sideline her right after Black voters helped hand Democrats the House sends the wrong message about who gets rewarded in the party.

Rep. Sean Casten of Illinois told the Democratic Caucus in a letter on Thursday that he wants the gavel when the new Congress opens in January. Casten, 54, is the panel's vice chair, a post Waters herself helped him land.

Waters, 88, answered on Friday with her own letter asking colleagues to return her to the chair. The California Democrat called herself a proven leader for the fight ahead and said she knows how to cut deals even with Trump officials.

A historic tenure under fire

Waters became the first woman and the first Black American to chair the committee, which oversees banks, housing, the Federal Reserve and the fast-growing crypto industry. She has been the top Democrat on the panel since 2013 and held the chair from 2019 until Republicans retook the House.

Casten pitched himself as a fresh hand with private-sector experience and a focus on aggressive oversight. He pledged to lower housing and insurance costs, crack down on fraud and scams and dig into President Donald Trump's business dealings. He is also one of the loudest critics of the crypto industry on Capitol Hill.

Allies call the challenge disrespectful

Waters' backers on Capitol Hill argue the timing stings. One senior Democratic aide said Black voters turned out in force to deliver the new majority, only to see party colleagues try to push aside one of their most prominent champions. The aide called the bid a "slap in the face" to many people of color and described Casten as untested.

Her defenders also point out that older white committee leaders such as 83-year-old Rep. Rosa DeLauro and 75-year-old Rep. Frank Pallone face no similar challenges. They argue the conversation about age in Congress should start with whether a lawmaker gets results.

Casten's office did not respond to requests for comment on those criticisms.

Black Caucus lines up behind Waters

Congressional Black Caucus Chair Yvette Clarke said the caucus stands firmly behind Waters, noting she was the first Black woman to serve as both chair and ranking member of the panel. Rep. Ayanna Pressley, who sits on the committee, called Waters a proven leader the country needs during an economic crisis.

Every Democrat on the committee except Casten and two others signed a letter backing Waters to keep the top spot.

What Waters wants to do next

Waters wants to rename the panel the Committee on Housing and Financial Services. She is promising to expand affordable housing, go after overdraft and late fees, restore an independently funded Consumer Financial Protection Bureau, rein in predatory lending and protect the financial system from artificial intelligence risks.

She also pointed to her work on the bipartisan 21st Century ROAD to Housing Act and to the $50 billion emergency rental aid program created during the COVID-19 pandemic.

The fight lands as many Democrats press for generational change after age concerns ended President Joe Biden's reelection bid in 2024. House Democrats will settle the race by secret ballot when they organize the new Congress in January.

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