Rep. Maxine Waters, poised to take over the powerful House Financial Services Committee when the new Congress convenes in January, laid down the law Wednesday about the future of banking regulation.

Speaking ahead of remarks by Randal Quarles, the Federal Reserve’s vice chair of oversight for the banking industry, the California Democrat said efforts to loosen the reins on Wall Street financial institutions won’t be tolerated should she be committee chair, as expected.

“Make no mistake, come January, in this committee the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said.

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