Rep. Sean Casten has communicated privately to Rep. Maxine Waters that he will not be challenging her for the chairmanship of the House Financial Services Committee next year. This assurance comes amidst swirling speculations and a recent report from Punchbowl News suggesting Casten was contemplating a bid for the top position on the Financial Services panel.

The discussion between Casten and Waters emerged after rumors reached Waters about a possible challenge. Waters, 88, directly inquired Casten about his intentions this Thursday, and he reassured her of his decision not to run, according to an insider familiar with the conversation.

Despite this private assurance, Casten, 54, has not publicly dismissed the notion of considering such a bid. He stated on Thursday, "I have great respect for Ranking Member Waters, who has made the Financial Services Committee my home in Congress." He emphasized, "My focus is on working to ensure we take back the majority."

Casten, who currently holds the position of vice ranking member on the committee, has previously expressed interest in eventually succeeding Waters as Financial Services chair, but there is no confirmed report of him actively pursuing a challenge at this time.

A spokesperson for Waters has yet to respond to requests for comments on the matter.

Previously, Casten has openly supported Waters, telling POLITICO on November 21, 2025, “I think she does a great job and she’s got my support as long as she wants to stay in that seat.” He lauded her continued vigor, adding, "She brings the fire. I think in this moment you want people who are fighters."

Concerns have been raised within the Democratic Party regarding the need for new leadership due to Waters' age, as she would be the oldest to chair the House Financial Services Committee. However, when asked about this last November, Casten expressed no doubts about her capability, attributing leadership transitions to mental acuity rather than age.

House Minority Leader Hakeem Jeffries has also expressed strong support for Waters, anticipating her continued leadership in the forthcoming 120th Congress. In March, he praised her for leading "the Financial Services Committee with vision, intellect, passion, and skill," predicting her iconic leadership will persist.

The Democratic Party appears united in its support for Waters as they gear up for the next congressional session, with Casten firmly behind her, focusing on regaining the majority in the House.