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.
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Washington, D.C. - Representatives Jesús "Chuy" García (IL-04) and Ro Khanna (CA-17), introduced the Reward Work Act today, as a companion to legislation by Senator Tammy Baldwin (D-WI). This bill will address the explosion in so-called "stock buybacks." Since the late 1970s, a growing share of economic growth has gone to Wall Street with little given to workers. This is especially true since the passage of the 2017 tax overhaul.
Washington, DC- Representatives Jesús "Chuy" García (IL-04) and Ro Khanna (CA-17), introduced the Reward Work Act today, as a companion to legislation by Senator Tammy Baldwin (D-WI). This bill will address the explosion in so-called "stock buybacks." Since the late 1970s, a growing share of economic growth has gone to Wall Street with little given to workers. This is especially true since the passage of the 2017 tax overhaul. Since President Trump signed that bill, corporate firms have spent more than $1 trillion on stock buybacks to pay out executives and shareholders.
Washington, DC- Today on the floor of the House of Representatives, Congressman Jesús "Chuy" García (IL-04) delivered a speech highlighting the importance that passing H.R. 1500, the Consumers First Act has for his constituents. Following is the text of his remarks.
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Washington, D.C.- Representatives Jesús "Chuy" García (IL-04), Rashida Tlaib (MI-13) and 11 other Members of Congress including senior Financial Services Members Nydia Velázquez (NY-07), and Al Green (TX- 09), as well as Freshmen Members Alexandria Ocasio-Cortez (NY-14), Katie Porter (CA-45) and Ayanna Pressley (MA-07), called on the Federal Reserve Board to stop the series of recent deregulatory moves that seem to ignore lessons from the 2008 financial crisis.
Washington, DC – U.S. Congressman Jesús "Chuy" García (D-IL-04) and Senator Kirsten Gillibrand (D-NY) today announced the Protections in Consumer Lending Act, new legislation to help protect people against discrimination when they apply for different types of credit. Although it is illegal for credit lenders to discriminate against credit applicants due to their race, religion, sex, marital status, or age, it is still a widely recognized problem and there is currently no method of tracking if discrimination has taken place.