House ethics investigators are looking into whether Ms. Waters violated House rules by using her senior position on the House Financial Services Committee to help a Boston-based bank, in which Ms. Waters and her husband had a financial interest.As the Wall Street Journal helpfully points out, Waters will be the second Congressional Democrat who could find themselves under investigation for using their position to leverage inappropriate deals or favors.
Ms. Waters and lawyers for the ethics panel had been in negotiations for several days in order to reach a plea agreement. But those talks failed by the time Congress adjourned Friday for a six-week summer break, according to people familiar with the investigation.
The ethics panel could announce formal charges against Ms. Waters as soon as next week.
It is still possible that Ms. Waters could reach an agreement with the ethics committee
And as the Los Angeles Times helpfully points out, both Waters and Rangel are black [Just putting that out there, since you're not likely going to hear it too often- especially if there's any sort of trial- NANESB!].