The House ethics committee on Monday outlined its charges against Rep. Maxine Waters, who is accused of helping a bank in which her husband owned stock secure federal bailout funds.
The committee charged the 10-term California Democrat with three counts of violating House rules and the federal ethics code in connection with her effort to arrange a 2008 meeting between Treasury officials and representatives with OneUnited bank.
The panel said Waters, who sits on the Financial Services Committee, broke a House rule requiring members to behave in a way that reflects “creditably” on the chamber. The committee said that by trying to assist OneUnited, she stood to benefit directly, because her husband owned a sizable amount of stock that would have been “worthless” if the bank failed.
The committee also accused Waters of violating the “spirit” of a House rule prohibiting lawmakers from using their positions for financial gain, as well as a government ethics statute banning the dispensing of “special favors.”