Casten Challenges Waters for House Financial Services Chair

• Rep. Sean Casten (D-Ill.) formally launched a bid to chair the House Financial Services Committee.
• Casten is challenging Rep. Maxine Waters (D-Calif.), the current Democratic leader of the committee.
• In a letter to his Democratic colleagues, Casten asked for their support for the new Congress.
• Waters has signaled openness to expanding retail investor access to private companies and regulating 'bad private equity actors' if chosen to lead the committee.
• Democrats are set to decide on the committee's leadership in the new Congress.