UPDATE: Ethics panel seeks full investigation of Richardson, Waters

The House Ethics Committee has just announced that it will launch full-blown investigations of Reps. Laura Richardson and Maxine Waters.

Richardson is being investigated for 1) failing to list property and liabilities on her financial disclosure form; and 2) possibly receiving preferential treatment from Washington Mutual regarding the foreclosure on her Sacramento home.

Investigators are looking into whether Waters broke any ethical rules related to her advocacy on behalf of OneUnited Bank, a company in which her husband held stock.

UPDATE: Richardson responds:

"Like 4.3 million Americans in the last year who faced financial problems because of a personal crisis like a divorce, death in the family, unexpected job and living changes and an erroneous property sale, all of which I have experienced in; the span of slightly over a year, I have worked to resolve a personal financial situation.

"But unlike other Americans, I have been subjected to premature judgments, speculation and baseless distractions that will finally be addressed in a fair, unbiased, bi-partisan evaluation of the facts.

"I hope that the Committee, despite its full schedule, now can quickly close the book, while I keep working on the issues that matter to my constituents: enacting the most historic healthcare coverage in decades, facilitating over eight secretary and chairman visits, and delivering over 32 million dollars that will be used to build roads, create job centers, and strengthen businesses and schools."

UPDATE 2: Waters' statement:

"Today I received notification that the Committee on Standards of Official Conduct voted to empanel an investigative subcommittee to review allegations regarding my arranging a meeting with the Treasury Department on behalf of the National Bankers Association, which represents minority banks in this country.

"My longtime advocacy on behalf of women- and minority-owned institutions is well known and appreciated by these institutions, which have been historically denied access to government regulators to address their concerns.

"I am confident that as the investigation moves forward the panel will discover that there are no facts to support allegations that I have acted improperly or violated the Code of Official Conduct or any law, rule, regulation or other standard of conduct in performing my duties and discharging my responsibilities as a United States Representative."