Sens. Sherrod Brown and Jeff Merkley called on financial regulators to provide more information about their oversight of fintech companies, while raising concerns that a murky framework could be harmful to consumers and small businesses. Brown, the ranking member of the Senate Banking Committee, and Merkley, the top Democrat on the
WASHINGTON, D.C. – U.S. Sens. Sherrod Brown (D-OH) and Jeff Merkley (D-OR) today called on the leaders of the U.S. banking and consumer protection agencies to outline steps they are taking to ensure effective oversight of the emerging financial technology, or “fintech,” marketplace. The Senators made their request in a
WASHINGTON, D.C. – Today, 28 U.S. Senators—led by Senators Jeff Merkley (D-OR), Dick Durbin (D-IL), Sherrod Brown (D-OH) and Chris Coons (D-DE)—wrote to the Consumer Financial Protection Bureau (CFPB) expressing support for the agency’s small-dollar lending rule and encouraging the consumer agency to strengthen consumer protections in the proposed rule
Ten Senate Democrats want to know how the Federal Communications Commission and the Office of Management and Budget “intend to help protect consumers from receiving intrusive robocalls from the federal government and its contractors” following a recent FCC decision to exempt the government from those rules. “We are concerned that consumers
WASHINGTON, D.C. — Oregon’s Senator Jeff Merkley released the following statement after the Federal Reserve announced that they would again delay implementation of a key part of the Volcker Rule, this time until 2017: “It’s been six years since the Volcker Rule became law, and unbelievably, the Fed still doesn’t
Washington, DC (July 7, 2016)—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Senator Jeff Merkley introduced the Wage and Garnishment Equity Act of 2016 (WAGE Act) to protect workers from losing their entire paychecks to wage and bank garnishments. “Predatory debt
Portland, OR – Oregon’s Senator Jeff Merkley announced that the Senate Financial Services and General Government Appropriations bill includes key provisions to help Oregon small businesses compete in the global economy. The bill also includes language to address the growing problem of tax identity theft. “We should be doing everything we
WASHINGTON, D.C. – Today, the Senate Appropriations Committee passed the Financial Services and General Government appropriations bill, which included an amendment from Oregon Senator Jeff Merkley and Washington Senator Patty Murray to ensure that legal marijuana businesses can access banking services. Currently, marijuana businesses operating under state laws that have
Washington, D.C. – Oregon’s U.S. Senators Ron Wyden and Jeff Merkley today called on the National Transportation Safety Board to investigate future oil train derailments in order to find ways to better prevent such accidents. In their June 9 letter to NTSB Chairman Christopher Hart, the senators expressed their concern
WASHINGTON, D.C. – Today, in a bipartisan vote, the United States Senate passed the Frank R. Lautenberg Chemical Safety for the 21st Century Act, landmark legislation that marks the first major update to toxic chemical safety in the United States in 40 years. Merkley worked with a bipartisan coalition to
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