Financial Protections
We are still recovering from the most severe financial crisis since the Great Depression. Home values crashed, savings accounts shrank, millions of jobs were lost or eliminated, and access to credit became nonexistent. Many Americans were left with loans they were unable to afford based on misleading promises of low payments that ballooned at the worst possible time. This was the result of Wall Street greed, deregulation, and the failure of federal regulators to act in the interests of consumers.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which passed in 2010, overhauled the financial industry and reined in Wall Street abuses. It included my amendment to protect seniors from abusive terms in reverse mortgages.
In order to ensure basic consumer protections and clear disclosure of relevant loan or other consumer financial information, the Dodd-Frank Wall Street Reform and Consumer Protection Act also included a provision to establish a national watchdog of the financial industry. I supported the creation of the Consumer Financial Protection Bureau from the beginning because I believe that the safety of financial products is as important as the safety of any consumer good. Finally, consumers have a single place where they can go to for help with credit cards, mortgages, student loans, and other financial products.
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I started out the week with Senator Dick Durbin and Attorney General Kwame Raoul speaking to University of Illinois Chicago law students about my legislation to stop illegal robocalls. Some constituents I have spoken with said they receive half a dozen or more calls per hour. These intrusive calls must end.
As I mentioned to you last week, extremist Republicans proceeded with yet another vote to impeach Homeland Security Secretary Alejandro Mayorkas over the Biden administration’s handling of the U.S.-Mexico border. Despite the fact that Republicans failed to produce any evidence that Secretary Mayorkas had violated his constitutional duties, the Republicans had enough votes this time around and Secretary Mayorkas was impeached by a vote of 214-213. Every Democrat present and three Republicans voted against the measure.
In all my years as a Member of Congress, I have never experienced a year quite like this. From Kevin McCarthy's rise and fall from the speakership to averting two government shutdowns which would have had disastrous consequences for everyday Americans, the past year was historic and unprecedented to say the least.
Despite holding 724 votes this year, only 27 pieces of legislation were signed into law, the lowest tally since the Great Depression. House Republicans’ inability to govern was on full display.
WASHINGTON - Consumer advocates and stakeholders agree H.R. 3950, the Transparency In Charges for Key Events Ticketing (TICKET) Act will restore fairness and transparency to the ticketing marketplace. The bill, which advanced out of the Energy and Commerce Committee last week with a unanimous vote, sends a clear message that Congress needs to act quickly to enact this important legislation, which will significantly enhance the customer experience of buying event tickets online.
I had a big week in Washington! I am thrilled that my bill, the bipartisan TICKET Act, unanimously passed 45-0 out of the Energy & Commerce Committee. This bill will transform the experience of buying event tickets online. It ends practices that frustrate people who simply want to enjoy a concert, show, or sporting event and will restore fairness and transparency to the ticketing marketplace. This bipartisan achievement is the result of months of hard work and I will continue my efforts to ensure that it is signed into law.
WASHINGTON — Today, Committee Chair Rodgers and Ranking Member Pallone, and, Subcommittee Chair Bilirakis and Subcommittee Ranking Member Schakowsky made the following statement on the passage of H.R. 3950, the “Transparency In Charges for Key Events Ticketing Act” or “TICKET Act” out of the House Committee on Energy and Commerce by a vote of 45-0:
I recently became aware of two alarming and hateful acts in my district. The first incident occurred late last week in the Devonshire neighborhood of Skokie when numerous ‘We Stand with Israel’ signs were vandalized and shredded apart. The second display occurred at a rally in Evanston on Saturday where the antisemitic Hamas flag was flaunted. I wholeheartedly condemn these actions.
One week ago, Hamas launched a horrific attack against Israel, committing unspeakable terrorism and inflicting the deadliest day for Jewish people since the Holocaust. As a Jew, this is extremely painful and personal for me. We must all stand united and unequivocally condemn the vicious attack carried out by Hamas.
After a fantastic district work period filled with constituent meetings and site visits, I am back in Washington, D.C. where we are working to pass federal funding bills by September 30th in order to avoid a government shutdown. But, right now, Congress is at a standstill. House Republicans have reneged on their budget agreement with the White House - the agreement they reached after holding our economy hostage and threatening to default on the debt. And now they want to further slash domestic spending levels and endanger critical services for the American people.