More on Financial Services

Feb 18, 2011

Rep. Maloney welcomes Astoria businessman’s testimony at Washington hearing

WASHINGTON, D.C. – This week, Gus Prentzas, who owns Pavilion Florals and Life Health & Fitness in Astoria, Queens, traveled to Washington to testify before a hearing of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit.  U.S. Rep. Carolyn Maloney (D-Queens, Manhattan), the ranking member and former chair of the subcommittee, welcomed Mr. Prentzas to Washington and introduced him before the subcommittee.  A photo of Maloney and Prentzas is attached.

Feb 15, 2011

Maloney Statement on NYSE-Deutsch Börse merger

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee and Chair of its Subcommittee on Financial Institutions & Consumer Credit, made the following statement today upon the announcement of the merger of the New York Stock Exchange (NYSE) and Deutsche Börse: “This merger exemplifies the globalization of finance and preserves the centrality of New York City to the international financial marketplace. It strengthens the NYSE, preserving its physical trading floor and creating an entity with 55% of its shareholders in the U.S.

Feb 3, 2011

Rep. Maloney Hails Reversal of Proposed Fed. Rule That Would Have Decimated Mortgage Lending in NYC

New York, NY – Today, U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) applauded the Federal Housing Finance Agency (FHFA) for reversing a guidance it proposed last October that would have had an enormously destructive impact on mortgage lending in New York City.  FHFA’s proposed guidance would have restricted federal housing finance agencies such as Freddie Mac and Fannie Mae, among others, from investing in or guaranteeing mortgages on real property, including cooperatives and condominiums, that require a transfer fee covenant, or “flip tax,” when the property is bought or sold. 

Jan 18, 2011

Maloney, Slaughter call on Federal Reserve to revise proposed “ability to pay” rules implementing the Credit CARD Act to reduce impact on stay-at-home moms

WASHINGTON, DC – 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, have called on the Federal Reserve to revise its proposed rule implementing the “ability to pay” requirements in the Credit CARD Act, which could curb the availability of credit to stay-at-home moms and other adults without certifiable income.

Oct 15, 2010

Rep. Maloney Slams Proposed Federal Rule That Would Decimate Mortgage Lending in NYC

New York, NY – Today, U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) wrote to the Federal Housing Finance Agency (FHFA) expressing her strong opposition to a proposed guidance issued by FHFA that would have an enormously destructive impact on mortgage lending in New York City.  FHFA’s proposed guidance would prohibit federal agencies such as Freddie Mac and Fannie Mae, among others, from investing in or guaranteeing mortgages on real property, including cooperatives and condominiums, that requires a transfer fee, or “flip tax,” when the property is bought or sold.  A copy of Maloney’s letter follows.

Sep 23, 2010

Maloney statement on the Small Business Jobs and Credit Act

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) offered the following remarks in support of the Small Business Jobs and Credit Act of 2010, H.R. 5297, which passed the House today. Madam Speaker, the Small Business Jobs and Credit Act of 2010 (HR 5297) will strengthen our current economic recovery, by strengthening our small businesses. This legislation is sorely needed to bolster our small firms, which have lagged their larger counterparts in recovering from the Great Recession.

Sep 17, 2010

Maloney hails appointment of Elizabeth Warren to establish Consumer Financial Protection Bureau and Assistant to President

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today hailed President Obama’s appointment of Elizabeth Warren to two positions: as Assistant to the President, and as Special Adviser to Secretary Timothy Geithner in charge of planning the new Bureau of Consumer Financial Protection established under the Dodd-Frank financial reforms, and issued the following remarks:  “This appointment is a win-win for American consumers and for the new Bureau of Consumer Financial Protection. With these appointments, the President is keeping his ‘eye on the prize’-- he wants to get this bureau set up as fast as possible, as do all of us who support Mrs. Warren. It’s a terrific solution to problem of getting the perfect person in place to get this Bureau off the ground quickly,” Maloney said. 

Aug 22, 2010

Remaining provisions of Credit CARD Act take effect today; ends decades of business as usual

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) applauded the final credit card provisions taking effect today, part of the legislation she authored which has by some estimates saved consumers billions.

Aug 17, 2010

Reps. Maloney and Frank renew call for Elizabeth Warren to head up Consumer Finance Protection Bureau

WASHINGTON, DC – Today, Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, and FSC Committee Chair Barney Frank (D-MA), and 41 other House members sent a letter to President Barack Obama, reiterating their call for Elizabeth Warren to head the new Consumer Finance Protection Bureau (CFPB) created by the Dodd-Frank financial regulation bill.

Aug 12, 2010

Reps. Maloney and Frank introduce bill to identify and crack down on shell corporations conducting illegal activities

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, and Chairman Barney Frank (D-MA) have introduced the “Incorporation Transparency and Law Enforcement Assistance Act”, H.R. 6098, which will help identify the true ownership of legal corporations used for illegal purposes.

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