President Obama signed the Wall Street Reform and Consumer Protection Act last June to prevent another financial crisis like the one in 2008 that erased trillions of dollars of household debt, left millions of Americans without jobs, and collapsed some of nation’s biggest financial institutions as well as our housing market. The financial crisis was the result of […]
President Barack Obama and Prime Minister Stephen Harper of Canada hold a press conference in the Eisenhower Executive Office Building South Court Auditorium, Dec. 7, 2011. (Official White House Photo by Pete Souza) Yesterday afternoon, President Obama welcomed Canadian Prime Minister Stephen Harper to the White House. Their conversation was wide-ranging, touching on the Eurozone […]
Today, we can do more to increase the amount of capital that flows into the hands of entrepreneurs at every stage in the growth of their companies. Helping these businesses grow is a top priority for the Obama Administration, as we know that small businesses create most of net new jobs that are added to […]
The Consumer Financial Protection Bureau is a new agency, created just last year. They have a big responsibility — acting as a watchdog for all of us who hold a mortgage, use credit cards, or otherwise need to apply for a loan. The staff there has already gotten to work. Just this week, they've announced a project […]
This week, the President gave a major address on the defining issue of our time, restoring economic security to the middle class. He also hosted former President Clinton, the Canadian Prime minister and Startup America, honored five giants from the Art World, and urged Congress to extend the Payroll Tax Cut. Click here to see […]
Enlisted service members are often lured into easy credit offers. Installment loan companies often have offices near military bases and market their loans online exclusively to the military. The Department of Defense found that many of these installment lenders don't disclose the cost of the loans they offer and service members sometimes pay annual rates as high as 782 percent for […]
Payday loans, sometimes called cash-advance loans or check-advance loans offer borrowers short?term funds at very high interest rates that are not always clearly disclosed. On average, payday lenders charge fees of roughly $16 for a $100 two?week loan. If borrowers miss payments, fees can begin to accumulate, resulting in extremely high total payments. Payday loan borrowers are […]
In August, Vice President Joe Biden traveled to Pearl Harbor after his trip to Asia to pay his respects at the USS Arizona Memorial — a 184-foot structure that rests atop the midsection of the sunken World War Two battleship. Today marks the 70th anniversary of the Japanese attack on Pearl Harbor. The USS Arizona, […]
Recently, the Department of Health and Human Services, through the Affordable Care Act, launched the Health Care Innovation Challenge, which will award $1 billion in grants to applicants who will implement the most compelling new ideas to deliver better health and improved care at lower costs to people enrolled in Medicare, Medicaid and the Children’s […]
Yesterday, Republicans in the United States Senate blocked Caitlin Halligan’s nomination to serve on the U.S. Court of Appeals for the District of Columbia Circuit. She had been nominated to fill the 9th seat on this 11-seat court – which is now more than a quarter vacant – and yesterday’s filibuster is unwarranted and irresponsible. […]
