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June 25, 2019

Ocasio-Cortez in line to get post on powerful banking panel that could probe Trump’s finances

January 11, 2019
Rep. Alexandria Ocasio-Cortez (D-N.Y.) outside the Capitol with fellow freshman Rep. Ilhan Omar (D-Minn.). (Andrew Harnik / AP)

Rep. Alexandria Ocasio-Cortez is in line for a seat on a House panel with the power to probe President Trump’s finances and rein in Wall Street influence in Washington, sources confirmed to the Daily News Friday.

The 29-tear-old Bronx-born Democrat said late last year she would seek a post on the Financial Services committee, which covers a variety of money-related issues including supervision of banks, lenders, insurers and corporate campaign donations.


The much sought-after committee is chaired by Rep. Maxine Waters (D-Calif.), who has praised Ocasio-Cortez and her fellow progressive freshmen lawmakers and vowed to use the position to dive into Trump’s shady past.

“You’re going to see a new kind of approach in the hearings that we have,” Waters told MSNBC recently. “They’re going to come right out with it. They won’t be ashamed. They won’t be afraid. They really believe in what they’re doing. I think that’s good for the institution.”

Waters, who has served on the committee for over 20 years, is the first woman and the first African American to lead the panel.

Members of the Progressive Caucus, including Katie Porter (D-Calif.), a financial services expert, and other freshman, including Reps. Rashida Tlaib (D-Mich.) and Ayanna Pressley (D-Mass.), are also in line for spots on the panel, The Intercept reported.

Rep. Maxine Waters (D-Calif.) is the chair of the House Committee on Financial Services.
Rep. Maxine Waters (D-Calif.) is the chair of the House Committee on Financial Services. (J. Scott Applewhite / AP)

The committee, which wields significant influence over Washington’s deep ties to Wall Street, oversees large lenders like government-sponsored enterprises, including Fannie Mae and Freddie Mac, as well as

Members are also is expected to lead several investigations into the President’s personal finances, along with potential connections between his businesses and Russian oligarchs.

Waters has said she will lead the committee in examining “the relationship of this bank to the finances of the President and his family.”

The panel will also look at “whether or not the treasury department is carrying on its responsibility with overseeing the sanctions that have been performed on the Russian government,” she told the Los Angeles Tribune editorial board.

Progressive groups, such as Justice Democrats, which has deep ties to Ocasio-Cortez’s campaign, were pushing for the 29-year-old to be placed on the Ways and Means committee, which is the tax-writing wing of the House.

President Trump's finances could be under scrutiny if Dems leading House committees decide to probe his past.
President Trump’s finances could be under scrutiny if Dems leading House committees decide to probe his past. (Evan Vucci / Associated Press)

Former Democratic Rep. Joe Crowley, whom Ocasio-Cortez unseated, served on that panel. But the seat went to Long Island Rep. Thomas Suozzi.

Ocasio-Cortez drew the ire of Republicans and sparked headlines last week by suggesting tax rates as high as 70% on millionaires to finance the “Green New Deal,” which would wean the U.S. off of fossil fuels and other progressive platforms.

Meanwhile, some top Dems are cautioning the Democratic socialist to play nice with her fellow party-members.

Rep. Emanuel Cleaver (D-Mo.) is warning new Rep. Alexandria Ocasio-Cortez (D-N.Y.) to rein in her criticism of fellow Democrats, saying she shouldn’t “attack your own people.”

“I’m sure Ms. Cortez means well, but there’s almost an outstanding rule: Don’t attack your own people,” Cleaver told Politico. “We just don’t need sniping in our Democratic Caucus.”


Some Dems are ticked off that Ocasio-Cortez has threatened to back primary opponents against moderate members and her decision to vote against a rules package last week because it included a fiscally conservative clause that could hamper instituting progressive programs.

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