Washington, DC– Oregon’s Senator Jeff Merkley, a member of the Senate Banking Committee, issued the following statement after meeting with President Obama’s nominee for Secretary of the Treasury Jacob Lew yesterday. “I had a good conversation with Jack Lew, talking about various strategies to create economic opportunities for middle-class Americans
Washington, D.C. – Today, Oregon’s Senator Jeff Merkley introduced the Deceptive Loan Check Elimination Act, which would prohibit companies from sending “live” loan checks to consumers. In these schemes, financial institutions send unsuspecting customers a check made out to them. Customers often assume that their financial institutions have sent refunds or
Washington, DC – Today, Oregon’s Senator Jeff Merkley, Senator Tom Udall (D-NM), Senator Dick Durbin (D-IL) and Senator Richard Blumenthal (D-CT) introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. The SAFE Lending Act would crack down on the worst practices of the online payday lending industry and
WASHINGTON, DC – Today, Oregon’s Senator Jeff Merkley introduced legislation to prohibit companies from using paid off or settled medical debt in assessing consumer credit scores. The Medical Debt Responsibility Act, which is cosponsored by Senators Dick Durbin (D-IL), Chuck Schumer (D-NY), Tom Harkin (D-IA), Sherrod Brown (D-OH), Robert Menendez
Washington, DC – Today, after the Consumer Financial Protection Bureau announced sweeping new rules to the nation’s mortgage market, Oregon’s Senator Jeff Merkley applauded the CFPB for putting an end to interest-only loans, “no doc” loans, and loans based on an initial “teaser” interest rate. Merkley has been a leading
Washington, DC- Oregon’s Senator Jeff Merkley issued the following statement after the Senate passed a deal that would avert the fiscal cliff. “My measuring stick for this fiscal cliff deal, like every bill I consider, is how it will impact working families throughout Oregon. And while I have deep misgivings
Washington, DC- Oregon’s Senator Jeff Merkley issued the following statement after news that the House Republicans have left Washington for Christmas break. “As we approach the edge of the fiscal cliff, the time for political gamesmanship is over. This isn’t about politics, it’s about people’s lives. The families who live
WASHINGTON, DC – Oregon Senator Jeff Merkley today blasted the U.S. Department of Justice for its policy of offering “deferred prosecution” for large financial institutions that break federal criminal laws, including drug trafficking, money laundering, and sanctions violations, calling the policy “too big to jail” and demanding explanations. In a
WASHINGTON, D.C. – Today, Oregon Senators Jeff Merkley and Ron Wyden joined with their colleagues from Washington and California to demand the Department of Justice (DOJ) conduct a refinery-by-refinery investigation into the cause of spikes that drove gas prices to more than $4 a gallon in Western states during May and
Washington, DC – Today, Senators Jeff Merkley (D-OR) and Carl Levin (D-MI) called on regulators to end the delay in issuing a final version of the Volcker Rule. In a letter to Federal Reserve Chairman Ben Bernanke and other regulators, the Senators expressed frustration that months after the deadline has
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