More on Financial Services

Oct 2, 2013

Rep. Maloney hails findings of first official CFPB report on effects of The Credit CARD Act

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY), senior member of the House Financial Services Committee and principal author of the Credit CARD Act, hailed the first biennial report issued by the Consumer Financial Protection Bureau-- required under the CARD Act-- examining the consumer credit card market, including “the effect of the Act on the cost and availability of credit and the adequacy of protections for consumers relating to credit card plans.” 

Sep 26, 2013

Bipartisan Maloney Bill Clarifying Condominium Fraud Law Passes House 410-0

WASHINGTON, DC – Today, the House passed H.R. 2600, the Interstate Land Sales Full Disclosure Act, sponsored by Reps. Carolyn B. Maloney (D-NY), Michael Grimm (R-NY), Patrick T. McHenry (R-NC), and Jerrold Nadler (D-NY). The bill’s language removes ambiguities in the Interstate Land Sales Disclosure Act (known colloquially as the “Land Under Water Act” when it was enacted in 1969) which have caused it to be applied to contracts to purchase condominium units in addition to sales of raw land.

Jul 18, 2013

Rep. Maloney congratulates Rep. Mel Watt upon Senate Banking Committee approval of his nomination to lead FHFA

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY) senior member of the House Financial Services Committee, and Ranking Member of its Subcommittee on Capital Markets and Government Sponsored Enterprises issued the following statement:

Jul 16, 2013

Rep. Maloney hails senate confirmation of Richard Cordray as Director of CFPB

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY) today hailed Senate confirmation of  Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB) by a vote of 66-34. “Richard Cordray has done an outstanding job leading the CFPB and executing its mandate of protecting consumers, and that was reflected in the strong bipartisan vote confirming him,” Maloney said. “Under his leadership, the CFPB has carefully handled over 150,000 complaints, helped 6 million consumers recover over $400 million in restitution from deceptive practices, and developed a ‘qualified mortgage rule’ that is fair and balanced. At my request, he helped clarify the rule under the Credit CARD Act affecting stay-at-home spouses. The CFPB has been responsive to all players on the financial landscape, even as they have leveled the playing field for consumers and community banks. With his confirmation, Director Cordray will now be in a position to continue his tremendous consumer protection efforts.” ##  

Jul 11, 2013

Rep. Maloney statement on Rep. Hensarling’s GSE reform bill

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY) ranking member of the Capital Markets Subcommittee of the House Financial Services Committee, issued the following comment on Rep. Jeb Hensarling’s introduction today of a GSE reform legislation:  

Jun 27, 2013

Maloney receives Philip Hart Public Service Award from Consumer Federation of America

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY) last night received the “Philip Hart Public Service Award” from the Consumer Federation of America at their 43rd Annual Awards Dinner at the Capital Hilton in honor of her work on consumer banking issues, including the Credit CARD Act (introduced as the “Credit Cardholders’ Bill of Rights”).  

Jun 25, 2013

Maloney welcomes Senate introduction of Corker-Warner GSE reform bill

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY), Ranking Member of the House Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee, issued the following statement upon today’s introduction of the “Housing Finance Reform and Taxpayer Protection Act of 2013” by Sens. Robert Corker (R-TN) and Mark Warner (D-VA).

Jun 15, 2013

Maloney calls on Congress to stand up for consumers, pass Overdraft Protection Act

New York, NY – Congresswoman Carolyn Maloney (D-NY) is on guard again for hardworking consumers who are being hit with over-the-top overdraft fees from some financial institutions. Congresswoman Maloney has been ahead of the curve on this issue, having introduced legislation in every Congress since 2005. But with the recent release of a Consumer Financial Protection Bureau (CFPB) Report that revealed that a few bad apples in the banking industry are slamming consumers with unreasonable overdraft fees, and using deceptive enrolling practices, Congresswoman Maloney is compelled once again to demand that Congress stand up for consumers and pass her Overdraft Protection Act bill.  

May 1, 2013

Maloney congratulates Rep. Mel Watt upon his nomination as Director of FHFA

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY) today offered the following statement upon President Obama’s nomination of Rep. Mel Watt:  

Apr 10, 2013

Rep. Maloney announces bill to help small businesses recover from disasters

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), a senior member of the House Financial Services Committee, announced at a Financial Institutions and Consumer Credit Subcommittee hearing today she plans to introduce a bill that would exempt loans from the credit union member business lending cap that are made after federally-declared natural disasters, injecting much-needed funds into local communities when they need it most.  

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