Rep. Maloney Receives AARP’s Legislative Achievement Award

Mar 23, 2010
Press Release

New York, NY – This week, AARP honored Rep. Carolyn Maloney (D-Manhattan, Queens) with the organization’s 2009 Legislative Achievement Award for Maloney’s efforts to protect consumers in the current Congress. The CARD Act, which Maloney authored in the House to prohibit the worst abuses by the credit card industry, was signed into law by President Obama last summer.

“AARP has been a wonderful partner in our effort to protect consumers, and I am honored to receive this award,” said Rep. Maloney. “According to the PEW Trust, just two of the reforms in my credit card bill -the bans on unfair interest rate increases and penalty fees- will save consumers more than $10 billion per year. That’s real money that will stay in the pockets of seniors and other Americans who have been struggling in the economic downturn. With AARP’s help, my colleagues and I will continue our efforts to save consumers money and protect them from unfair and deceptive practices.”

“On behalf of AARP's 2.5 million members in New York State and all older Americans, I am pleased to present Representative Carolyn Maloney with AARP's Legislative Achievement Award for her leadership on protecting consumers' financial security,” said Lois Aronstein, AARP’s New York State Director.

“Unfortunately, too many seniors are paying a price for an outdated regulatory system that has left them victim to unfair lending practices, foreclosures, fraud and excessive banking and credit card fees. That's why we need lawmakers like Representative Maloney who will work to establish clear, enforceable rules of the road to protect not only older Americans, but all consumers.”

Click here for more information on Rep. Maloney’s credit card reform legislation, and here for details on Maloney’s other efforts to ensure transparency and fairness in the banking system.