May
2012
Monday, August 02, 2010
LARRY MARGASAK, Associated Press, 

California Rep. Maxine Waters facing potential ethics charges

Waters, 71, has been under investigation for a possible conflict of interest involving a bank that was seeking federal aid. Her husband owned stock in the bank and had served on its board.

Waters came under scrutiny after former Treasury Department officials said she helped arrange a meeting between regulators and executives at Boston-based OneUnited Bank without mentioning her husband's financial ties to the institution.

Her husband, Sidney Williams, held at least $250,000 in the bank's stock and previously had served on its board. Waters' spokesman has said Williams was no longer on the board when the meeting was arranged.

Waters has said the National Bankers Association, a trade group, requested the meeting. She defended her role in assisting minority-owned banks in the midst of the nation's financial meltdown and dismissed suggestions she used her influence to steer government aid to the bank.

No charges have been levied.

Posted by Editor on 08/02/10 at 08:38 AM •  (0) Comments

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