Waters' case revolves around allegations that she improperly intervened with federal regulators to help a bank that her husband owned stock in and on whose board he once served.
And from the LA Times...
Waters came under scrutiny last year after Massachusetts-based OneUnited Bank, one of the nation's largest minority-owned institutions, received $12 million in bailout funds.
The funding came three months after Waters, a senior member of the committee that oversees banking, helped arrange a meeting between officials of the bank, other minority-owned financial institutions and Treasury Department representatives.
Waters' husband, Sidney Williams, had owned stock in the bank and served on its board.
I wonder why Barney Frank was not brought up on ethics charges since he too was involved in the bailout of this bank...
Maxine Waters was also among those members of the Congressional Black Caucus who lied and said that Members of the Tea Party shouted racial slurs at her and other black Caucus members last March
Here is some more background on Congresswoman Waters
and here she is in all her glory..