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
Washington, D.C. – 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.
Washington, D.C. – 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.
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.
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.
Washington, D.C. - Representative Jesús "Chuy" García (D-Ill.) and United States Senator Elizabeth Warren (D-Mass.) today sent a letter to Jamie Dimon, Chief Executive Officer (CEO) and President of JP Morgan Chase, expressing alarm with reports that Chase has decided to reintroduce forced arbitration clauses into their credit card contracts, which make it more difficult for consumers to hold banks accountable for misconduct.