California Democratic Rep. Maxine Waters won’t be charged with ethics violations following allegations she steered a $12 million federal bailout to a bank where her husband owns stock.
House Ethics Committee members said Friday at a hearing their investigation found no violation by Waters, a senior member of the House Financial Services Committee.
However, the committee said Waters’ chief of staff, Mikael Moore, did take actions in Congress in an attempt to help the bank and violated House standards of conduct. Moore likely will receive a letter admonishing him for his conduct but will not face more severe punishment, such as a reprimand, by the full House.
Virginia Republican Rep. Bob Goodlatte, acting chairman of the panel, announced the tentative findings at the hearing but noted the committee had not issued a final report.
Goodlatte said the committee was convinced that when Waters asked for a meeting at the Treasury Department to discuss financial help for minority banks, she believed she did so on behalf of all minority banks — not just OneUnited, where her husband owns stock. Goodlatte said the committee agreed with Waters’ assertion.
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