Rep. Maxine Waters of California, a frequent and harsh critic of for-profit colleges, said on Tuesday that she expected to succeed Rep. Barney Frank of Massachusetts as the top Democrat on the House Committee on Financial Services, National Journal reports.
If Democrats regain control of the U.S. House of Representatives, Ms. Waters would become the committee’s chairman. Mr. Frank has announced he will retire at the end of his term. Although the committee does not oversee the federal student-aid programs, it has broad jurisdiction over the economy and private lending.