Financial Services

The great recession of 2008 led to an unprecedented foreclosure crisis that was precipitated in large part due to unfair, under-regulated, and predatory mortgage lending practices.

Chicago, like so many areas across the US, was devastated by the crisis: millions of families lost their savings and their homes.

As a member of the House Financial Services Committee, I am committed to ensuring that working families get a fair shake, that we expand opportunities to build and access credit, and that the policy missteps that led to the Great Recession of 2008 are never repeated.

More on Financial Services

September 10, 2019 Press Release

Washington, D.C. - Today, the Safe Housing for Families Act (H.R. 1690, now entitled CO Alerts Act) was approved in the U.S. House of Representatives with bipartisan support. The bill, which was introduced in March by Congressmen Jesús “Chuy” García (Il-04) and Joe Cunningham (SC-01) will provide funds for carbon monoxide detectors in federally subsidized housing units.  Housing and Urban Development (HUD) Secretary Ben Carson signaled support for the bill during testimony before the House Financial Services Committee in May.

August 5, 2019 Press Release

WASHINGTON – Today, Representatives Jesús “Chuy” García (D-Ill.), Ayanna Pressley (D-Mass.), and U.S. Senators Chris Van Hollen (D-Md.) and Elizabeth Warren (D-Mass.) applauded the Federal Reserve’s decision to move forward on building a real-time payments system. Currently, Americans lose billions of dollars each year in overdraft fees, driving consumers to turn to more costly financial products because of our inefficient payments system.

July 24, 2019 Press Release

WASHINGTON – Today, Representatives Jesús “Chuy” García (D-Ill.), Ayanna Pressley (D-Mass.), and U.S. Senators Chris Van Hollen (D-Md.) and Elizabeth Warren (D-Mass.) introduced the Payment Modernization Act of 2019. Right now, Americans lose billions of dollars each year in overdraft fees, driving consumers to turn to more costly financial products because of our inefficient payments system. This legislation would clarify that the Federal Reserve has the existing authority to build a real-time payments system and requires the Fed to implement its own process.

July 16, 2019 In The News
June 28, 2019 Press Release

Washington, D.C.- Representative Jesús G. “Chuy” García’s (IL-04) bill to require carbon monoxide detectors in public and publicly subsidized housing advanced out of the House Financial Services Committee this week, and it’s on its way to a full vote in the House of Representatives. The Safe Housing for Families Act, Rep. García’s first bill, was introduced earlier this year in partnership with Rep. Joe Cunningham (D-SC) and Sen.

June 28, 2019 Press Release

Washington, D.C.- Representative Jesús G. “Chuy” García’s (IL-04) bill to require carbon monoxide detectors in public and publicly subsidized housing advanced out of the House Financial Services Committee this week, and it’s on its way to a full vote in the House of Representatives. The Safe Housing for Families Act, Rep. García’s first bill, was introduced earlier this year in partnership with Rep. Joe Cunningham (D-SC) and Sen.