UPDATED

A House ethics committee today announced that it has “substantial reason” to think Rep. Maxine Waters (D., Calif.) violated ethics rules. While the panel has not yet released full charge, the violations likely stem from Waters’ efforts to secure bailout funds for a bank in which her husband had a large financial stake.

Waters has vowed to fight the charges:

“I have not violated any House rules. Therefore, I simply will not be forced to admit to something I did not do and instead have chosen to respond to charges made by the House Committee on Standards of Official Conduct in a public hearing,” Waters said in a lengthy written rebuttal to the OCE document. “Starting with the Office of Congressional Ethics (OCE) report released today, the record will clearly show that in advocating on behalf of minority banks neither my office nor I benefited in any way, engaged in improper action or influenced anyone. … In sum, the case against me has no merit.” Read more:

More here.