More on Financial Services
Maloney opposes Republican CFPB bill which would “delay, defang and derail” needed consumer protections
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), ranking member of the House Financial Institutions and Consumer Credit Subcommittee, and a member of last year’s Dodd-Frank conference committee which created the Consumer Financial Protection Bureau, today opposed the Republican bill (HR 1315) which restructures the CFPB just as it opens its doors today.
New York, NY – Last night, U.S. Rep. Carolyn B. Maloney and Hunter College President Jennifer Raab welcomed Professor Elizabeth Warren, Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), to New York to discuss the CFPB and the need for strong consumer protections in the wake of the Great Recession. Warren delivered her remarks at Hunter College’s Roosevelt House Institute for Public Policy, which stands at the location where a newly-elected president Franklin D. Roosevelt and Frances Perkins first laid out the concept that would become Social Security, widely considered to be our most important social safety net program.
89 House members send letter to President urging Elizabeth Warren be appointed to head Consumer Financial Protection Bureau
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), Brad Miller (D-NC), and Keith Ellison (D-MN), members of the House Financial Services Committee, and 88 fellow House members today announced their letter to President Obama urging that he appoint Elizabeth Warren, as a recess appointment if necessary, to head the Consumer Financial Protection Bureau.
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today hailed the start of a process by the Consumer Financial Protection Bureau (CFPB) to harmonize and streamline mortgage disclosure forms required under the Truth in Lending Act and the Real Estate Settlement and Procedures Act.
WASHINGTON, DC –The House Financial Services Committee today approved and sent to the full House measures which would weaken, delay and derail the Consumer Financial Protection Bureau (CFPB) just weeks before it is scheduled to open its doors. Rep. Carolyn Maloney (D-NY), senior member of the Committee, denounced Committee passage of the bills. “Despite the financial meltdown that occurred on their watch, the Republicans have ramped up their efforts to derail financial reforms and to cripple the Consumer Financial Protection Bureau before it even has a chance to open for business.
Maloney, Frank, Slaughter, Fitzpatrick call on Federal Reserve to study impact of credit card “ability to pay” rules on stay-at-home spouses
WASHINGTON – Reps. Carolyn Maloney (D-NY), Barney Frank (D-MA), Louise Slaughter (D-NY), and Mike Fitzpatrick (R-PA), today asked the Federal Reserve to conduct a six-month study of the effects of their “ability to pay” rule on stay-at-home spouses bringing to light a concern over the effect it would have on their ability to gain credit.
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, made the following remarks at the meeting held by the Financial Institutions and Consumer Credit Subcommittee on legislation which would fundamentally alter the structure of the new Consumer Financial Protection Bureau before it even opens for business July 21st. “It’s kind of sad, somehow, that we’re here doing this today,” Maloney said. “With so many still trying to recover from the economic crisis, here we are debating measures to “improve” the Consumer Financial Protection Bureau. “These measures are sponsored by some who opposed the CFPB’s creation last year, and thus are re-litigating the past—before there is any indication of any actual problems caused by this new agency—we are in fact conducting this debate less than three months before the agency even opens its doors!
WASHINGTON, DC – At a legislative hearing of the House Financial Services Committee today, Rep. Carolyn Maloney (D-NY) assailed Republican legislation to “delay and diffuse” the authority of the new Consumer Financial Protection Bureau (CFPB), scheduled to open for business in July.
Reps. Maloney & Rangel, Housing Advocates and Struggling Homeowners Report on Impact on NYC of Ending Federal Programs to Stem Foreclosure Crisis
NEW YORK, NY - Today, U.S. Representatives Carolyn Maloney (D-Manhattan, Queens) and Charles Rangel (D-Manhattan & the Bronx); Mike Hickey, Executive Director of the Center for New York City Neighborhoods; Willie Rapfogel, CEO of the Metropolitan Council on Jewish Poverty; Mitchell Kent of the NYC Department of Consumer Affairs; Bisoondaye Maharaj, a struggling Queens homeowner who has benefitted from federal mortgage programs; and housing advocate Seema Agnani, Executive Director of the Chhaya Community Development Corporation, gathered at City Hall to release a report detailing the impact on New York City of Republican efforts to terminate federal foreclosure-avoidance programs. At a time when our economy and real estate market remain fragile, Republicans have offered no alternative plans to stem the foreclosure crisis.
WASHINGTON – Reps. Carolyn Maloney (D-NY), principal author of the Credit CARD Act, and Louise Slaughter (D-NY), author of the law’s language aimed at curbing abuses aimed at those under 21 years of age, today released the following statement following a rule approved by the Federal Reserve that would require credit card issues to consider a consumer’s individual income before extending credit.