At Berkshire’s annual meeting in May, Buffett said he made “no apologies” for the business.
Buffett, 85, became one of the world’s richest people by building Omaha, Nebraska-based Berkshire over the past five decades into a sprawling conglomerate. Its operations now include insurers, manufacturers, retailers, electric utilities and one of the largest railroads in the U.S. The billionaire has cultivated a folksy image and speaks frequently about honesty and ethics in business.
Waters, a California Democrat and former chair of the Congressional Black Caucus, opposed legislation last year that would have eliminated consumer protections on some mobile-home loans. She reiterated that position in a statement Tuesday.
Sam Gilford, a spokesman for the CFPB, declined last month to comment on whether the Clayton or its lending arms, Vanderbilt Mortgage & Finance and 21st Mortgage, are being investigated. He said at the time that “the allegations of discrimination and predatory practices raised by the reporting are obviously very concerning to the bureau.”