December 4, 2012 / 10:34 PM / 7 years ago

Maxine Waters elected ranking member of House financial panel

Congresswoman Maxine Waters arrives at the National Abortion and Reproductive Rights Action League Pro-Choice America's 2012 Los Angeles Power of Choice Reception in West Hollywood, California May 24, 2012. REUTERS/Gus Ruelas

WASHINGTON (Reuters) - California Democrat Maxine Waters was elected to serve as ranking member of the House Financial Service Committee, according to an announcement from Waters’ office on Tuesday.

In a statement, Waters said she looks forward to defending the 2010 Dodd-Frank financial regulatory overhaul and plans to focus on housing finance reform.

“I understand that regulatory certainty is an important aspect of growing our economy, and remain committed to ensuring clear and transparent regulation, which creates the space for innovation, safety and soundness,” she said.

Waters was widely expected to win the post.

She joins Jeb Hensarling, a Texas Republican, who will chair the committee. Both have expressed interest in housing finance issues.

Reporting By Aruna Viswanatha; Editing by Dan Grebler

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