The United States Senate tonight passed important reform legislation to rein in abuse on Wall Street and restore stability to financial markets. The bill contains key mortgage lending reforms championed by Oregon’s Senator Jeff Merkley: a ban on prepayment penalties, “liar” loans issued without supporting documentation, and steering payments to originators for putting borrowers in high-cost mortgages.
WASHINGTON, D.C. – Today, Senate Republicans refused to allow a vote on a long-anticipated amendment to the Wall Street accountability bill that will ban the high-risk trading that brought our economy to the brink of meltdown. The amendment’s chief sponsors, Oregon Senator Jeff Merkley and Michigan Senator Carl Levin, today
WASHINGTON, DC – Today, an amendment put forth by Oregon Senator Jeff Merkley and Minnesota Senator Amy Klobuchar to the Wall Street reform bill passed the Senate by a vote of 63-36. The amendment will protect homeowners by prohibiting mortgage lenders and loan originators from receiving hidden payments when they
WASHINGTON, DC – Today, Oregon’s Senator Jeff Merkley introduced an amendment to the Wall Street reform bill that will ban one of the most egregious mortgage practices that directly led to millions of families losing their homes. The amendment will ban mortgage lenders and loan originators from receiving hidden payments
WASHINGTON, D.C. – United States Senator Jeff Merkley introduced an amendment today that will improve the Office of National Insurance (ONI) provisions of the Wall Street reform bill to ensure that U.S. and foreign insurers are operating on a level playing field internationally without unintentionally weakening state insurance regulation. “As
WASHINGTON, D.C. – United States Senators Jeff Merkley (Ore.) and Carl Levin (Mich.) are introducing an amendment today to the Wall Street Reform Bill that will get high-risk proprietary trading out of the nation’s banks and ensure that other financial companies’ trading doesn’t endanger the banking system. The amendment will
Sen. Jeff Merkley (D-Ore.) is leading an effort to ensure state insurance regulators keep strong powers under Wall Street overhaul legislation Buried in the 1,400-page bill to revamp the financial regulatory system is a provision to create a new Office of National Insurance to monitor insurers at the federal level.
WASHINGTON (Dow Jones)–The intense scrutiny surrounding Goldman Sachs Group Inc.’s (GS) potential conflict of interest in packaging and selling mortgage-backed securities could give a boost to lawmakers hoping to tighten banking rules in a Senate financial-overhaul bill. Sen. Carl Levin (D., Mich.), who chairs the panel that subjected Goldman executives
Washington DC – Today, a minority of Senators voted to block the Senate from beginning debate of the Wall Street reform bill. Oregon’s Senator Jeff Merkley released the following statement: “Today, Senators showed the American people where they stand. And, unfortunately, some Senators voted to stand alongside the executives and
WASHINGTON, DC – In the wake of a new study outlining numerous cases where children have been poisoned by tobacco candy, Oregon’s Senator Jeff Merkley and Ohio’s Senator Sherrod Brown have called on the Food and Drug Administration (FDA) to immediately remove the products from the market. “The flavoring, appearance
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