Rangel, Waters could face ethics trials at optimum time for GOP

WASHINGTON — A second House Democrat, Rep. Maxine Waters of California, could face an ethics trial this fall, further complicating the election outlook for the party as it battles to retain its majority.

People familiar with the investigation, who were not authorized to be quoted about charges before they are made public, say the allegations could be announced next week. The House ethics committee declined Friday to make any public statement on the matter.

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.

New York Democrat Rep. Charles Rangel also faces an ethics trial this fall on charges that include failure to disclose assets and income, nonpayment of taxes and doing legislative favors for donors to a college center named after him.

Both Waters and Rangel are prominent members of the Congressional Black Caucus and the trials would be an embarrassment for the group. Dual ethics trials would also be a major political liability for Democrats, forcing them to defend their party’s ethical conduct while trying to hold on to their House majority.

While Rangel is a former chairman of the tax-writing House Ways and Means Committee, Waters is a prominent member of the House Financial Services Committee

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.