{"id":5927,"date":"2015-01-23T18:15:00","date_gmt":"2015-01-23T23:15:00","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/merkley-becomes-top-democrat-on-consumer-protection-subcommittee\/"},"modified":"2023-07-24T11:10:09","modified_gmt":"2023-07-24T15:10:09","slug":"merkley-becomes-top-democrat-on-consumer-protection-subcommittee","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/merkley-becomes-top-democrat-on-consumer-protection-subcommittee\/","title":{"rendered":"Merkley se convierte en el principal dem\u00f3crata en el subcomit\u00e9 de protecci\u00f3n al consumidor"},"content":{"rendered":"<p>WASHINGTON &ndash; Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs announced that Oregon&rsquo;s Senator Jeff Merkley will serve as the top Democrat on the Financial Institutions and Consumer Protections Subcommittee in the new Congress, placing him in a powerful position to advocate for consumer protection and bank oversight.<\/p>\n<p>The subcommittee has broad oversight over financial institutions and consumer protection, including the newly-created Consumer Financial Protection Bureau (CFPB) and the Federal Reserve&rsquo;s regulation of Wall Street banks.<\/p>\n<blockquote>\n<p>&ldquo;We need Wall Street to work for Main Street, not the other way around,&rdquo; said Merkley. &ldquo;I will use this position to fight against predatory financial practices, from subprime mortgages to high-interest payday loans. We need to make sure that our financial system strengthens American families rather than stripping them of their hard-earned wealth.<\/p>\n<p>&ldquo;In particular, I will defend and strengthen the Consumer Financial Protection Bureau. It&rsquo;s been very effective in stopping predatory practices and has returned over $4.6 billion to hard-working American families. That&rsquo;s a real success story.&rdquo;<\/p>\n<\/blockquote>\n<p>Merkley has a long track record of fighting to protect working families from predatory practices.&nbsp;He was a leading champion for the creation of the CFPB during the drafting and debate over the Dodd-Frank Act.&nbsp;He also wrote provisions banning kickbacks to mortgage brokers for selling customers high-cost, high-risk loans and outlawing prepayment penalties in mortgages.&nbsp; As Speaker of the Oregon House of Representatives, he helped deliver a celebrated victory with legislation protecting Oregon families from payday lenders.&nbsp;<\/p>\n<p>The subcommittee&rsquo;s full jurisdiction includes banks, savings associations, credit unions, and other financial institutions; deposit insurance; the Federal Home Loan Bank System; regulatory activities of the Federal Reserve System; the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA); e-commerce; and the Consumer Financial Protection Bureau (CFPB).<\/p>","protected":false},"excerpt":{"rendered":"<p>WASHINGTON &ndash; Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs announced that Oregon&rsquo;s Senator Jeff Merkley will serve as the top Democrat on the Financial Institutions and Consumer Protections Subcommittee in the new Congress, placing him in a powerful position to advocate for consumer protection and bank oversight. The subcommittee has broad [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[47],"class_list":["post-5927","post","type-post","status-publish","format-standard","hentry","category-press-releases","tag-protecting-consumers-taxpayers-and-the-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Merkley Becomes Top Democrat on Consumer Protection Subcommittee - Merkley<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.merkley.senate.gov\/es\/merkley-becomes-top-democrat-on-consumer-protection-subcommittee\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Merkley Becomes Top Democrat on Consumer Protection Subcommittee - Merkley\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON &ndash; Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs announced that Oregon&rsquo;s Senator Jeff Merkley will serve as the top Democrat on the Financial Institutions and Consumer Protections Subcommittee in the new Congress, placing him in a powerful position to advocate for consumer protection and bank oversight. 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