Today, House Financial Services Committee Chairman Barney Frank formally introduced a bill to implement President Obama's plan to strengthen consumer protections as a part of broader financial regulatory restructuring. The bill would establish a new independent agency, the Consumer Financial … Continue reading
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The 111th Congress is committed to addressing the needs of America's service men and women as well as those of their families. While we salute our men and women in uniform for the courage and bravery that they exhibit in … Continue reading
The 111th Congress is off to a strong start, working with President Obama to take America in a New Direction, to turn our economy around and create good jobs, with common sense reforms and targeted investments in: affordable health care, … Continue reading
This afternoon, the President signed two bills the House passed this week – the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act. The Helping Families Save Their Homes Act(S.896) builds on the President's housing initiative, … Continue reading
Mortgage fraud has reached near epidemic levels — with FBI mortgage fraud investigations more than doubling in the last three years. Corporate frauds, like the $65 billion Ponzi scheme perpetrated by Bernie Madoff, are being uncovered as the economy has … Continue reading
Posted in Consumer Protections, Financial Reform, Oversight
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Today, the House passed the Mortgage Reform and Anti-Predatory Lending Act (H.R. 1728) by a vote of 300-114. This legislation responds to the subprime mortgage crisis by instituting much needed reform — stopping the kinds of predatory and irresponsible mortgage … Continue reading
Posted in Consumer Protections, Financial Reform, Oversight
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Today, the Congressional Oversight Panel held a hearing with Treasury Secretary Geithner. The Congressional Oversight Panel was created to oversee the expenditure of the Troubled Asset Relief Program (TARP) funds authorized by Congress in the Emergency Economic Stabilization Act of … Continue reading
The Obama Administration's new initiative for disposing of 'legacy assets' to restore the steady flow of credit to consumers and small businesses builds on strong actions to reduce home foreclosures and jumpstart our economy with the American Recovery and Reinvestment … Continue reading
With rising unemployment and home foreclosures and a frozen credit market, it is no surprise that revenues would continue to decline and that the budget deficit President Obama inherited from the previous Administration would increase. After eight years of economic … Continue reading
Posted in Fiscal Responsibility, Speaker Pelosi
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America's workers are facing record job losses and home foreclosures since the recession began in December 2007, but after years of economic mismanagement by the Bush Administration, help is on the way. Congress and President Obama acted swiftly on the … Continue reading
Posted in Labor and American Jobs
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