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
Washington, DC – Oregon’s Senator Jeff Merkley issued the following statement today after a federal judge struck down a Commodity Futures Trading Commission (CFTC) rule that would have limited speculation in the oil market. “I’m outraged by today’s decision. During Wall Street reform, Congress passed a law to put aggressive
WASHINGTON – Today, Oregon’s Senator Jeff Merkley, Senator Tom Udall (D-NM), and Senator Dick Durbin (D-IL) 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 give states more power to
Bend, OR – Senator Merkley was in Bend today to release a new report that reveals the extent to which federal funds have been used to employ foreign workers on Central Oregon forest projects. More than 50 percent of the Central Oregon forest health projects funded in 2010 utilized foreign
Washington, DC- Oregon’s Senator Jeff Merkley issued the following statement after today’s Senate Banking Committee hearing on JPMorgan’s trading losses. “While it wasn’t his intention, Jamie Dimon today made the case for a strong Volcker Rule. I was pleased to hear him say that he doesn’t want to be in
WASHINGTON – Oregon’s Senator Jeff Merkley and Senator Carl Levin (D-MI) today sent a letter to regulators, calling on them to close the “JPMorgan Loophole.” Although the Dodd-Frank Act prohibits banks from proprietary trading, the regulators’ proposed rule creates a new loophole that could allow proprietary trading to continue even
Washington, DC- Oregon’s Senator Jeff Merkley, cosponsor of the Merkley-Levin provision in Dodd-Frank that put into law the Volcker Rule, issued the following statement after news that J.P. Morgan lost at least $2 billion in portfolio hedging trades made by their risk management division. “What yesterday’s announcement makes abundantly
Washington, DC – Today, Oregon’s Senator Jeff Merkley and Carl Levin (D-MI) led a group of 22 Senators in calling on regulators to write and implement a strong Volcker Rule free of loopholes and draw clear lines between large hedge-fund like trading and traditional banking. In a letter to Federal
Washington, DC– Oregon’s Senator Jeff Merkley issued the following statement after Republicans obstructed the Buffett Rule legislation from coming to the floor for debate. “This evening, my Republican colleagues blocked debate of the Buffett Rule. That is outrageous. It is wrong that millionaires and billionaires are paying a lower tax
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