With the dust still settling from Michael Cohen’s explosive public testimony Wednesday on Capitol Hill, Rep. Maxine Waters, D-Calif., on Thursday called for a full investigation into the Trump Foundation, President Trump’s nonprofit organization, which she asserted was a front for tax evasion and other illicit transactions.

"There’s one thing that I think should not be missed that came out of the hearing," said Waters, who took the helm of the Financial Services Committee earlier this month after easily winning re-election as part of the Democrats’ takeover of the House of Representatives, "and that is how [Trump] directed payments into the foundation to keep from paying taxes," the Washington Post reported.

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“I think there’s more than we know about at this time," the Los Angeles-area congresswoman, 80, added in remarks to reporters. "I think that’s an area that should be looked at because I think the foundation has been used by him to avoid paying taxes on money he’s earned."

“I think there’s more than we know about at this time. I think that’s an area that should be looked at because I think the foundation has been used by him to avoid paying taxes on money he’s earned."
— U.S. Rep. Maxine Waters, D-Calif., chairwoman, House Financial Services Committee

Waters' remarks came in response to Cohen's testimony before the House Oversight and Reform Committee, which included the former Trump lawyer's allegations that the president once directed his now-defunct foundation to pay a “fake bidder” to purchase a portrait of himself at an auction.

The Donald J. Trump Foundation, which Trump ran for 30 years, dissolved in December 2018, after a lawsuit brought by New York's attorney general alleged illegal conduct and “unlawful political coordination” to benefit President Trump's personal and business interests.

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Waters, an inveterate critic of the president who has repeatedly called for his impeachment, also said Thursday that Deutsche Bank, a longtime lender to Trump, has "offered to cooperate and my staff have just started to work with them to get the documents," according to Politico.

Fox News' Brooke Singman contributed to this report.