Press Releases
Currently showing results related to Consumer and Financial Protection
Durbin, Kirk: FRA Takes Action to Increase Track Safety During Extreme Weather Events
[WASHINGTON, D.C.] - U.S. Senators Dick Durbin (D-IL) and Mark Kirk (R-IL) commended the Federal Railroad Administration (FRA) for stepping up efforts to increase track safety during extreme weather events - like the excessive heat earlier this month that caused a Union Pacific train derailment and bridge collapse at the Northbrook-Glenview border. Earlier today, the FRA issued a safety advisory which contained guidance that would help ensure railroads and safety agencies are adequately inspect… Continue Reading
07.13.12
Senators Call for Plan to End Unreasonable Fees and Practices Associated with Some Campus Debit Card Programs
[WASHINGTON, D.C.] - Today, U.S. Senators Dick Durbin (D-IL), Jack Reed (D-RI), Robert Menendez (D-NJ), Sherrod Brown (D-OH), Jeff Merkley (D-OR), Richard Blumenthal (D-CT) and Barbara Boxer (D-CA) called on institutions of higher education to develop a plan to put an end to a number of unreasonable fees and practices associated with campus debit and prepaid card programs that are being increasingly pushed by financial institutions. According to a report released in June from the U.S. Publi… Continue Reading
07.12.12
After For-Profit School Loses Regional Accreditation, Durbin Urges Increased Scrutiny og Ashord University
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today urged the Higher Learning Commission to reconsider its approval of Ashford University's request for accreditation. Earlier this week, the publicly-traded company Bridgepoint Education disclosed that the regional accreditor, Western Association of Schools and Colleges (WASC), had denied Ashford University in its bid for accreditation. WASC found that spending on student recruitment at Ashford University far outweighed the amount of mone… Continue Reading
06.12.12
Durbin Unveils 2013 Financial Services, General Government Appropriations Bill
[WASHINGTON, D.C.] - US Senator Dick Durbin (D-IL), Chairman of the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG), today unveiled the subcommittee's appropriations package for fiscal year 2013. The bill covers $22.99 billion in discretionary spending for the nation's consumer and financial watchdogs; the Treasury Department; the Federal Courts; District of Columbia; White House operations; and over two dozen independent agencies. "This year's appropri… Continue Reading
06.11.12
Durbin, Reed, Welch to Banks: Time to End Egregious Fees on Campus Debit Cards
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL), U.S. Senator Jack Reed (D-RI) and Congressman Peter Welch (D-VT) today called for an end to egregious fees - some as high as $50 - that are charged to students in some campus debit and prepaid card programs. In a letter to fifteen major financial institutions, the Members of Congress expressed serious concerns about campus card fees that often cut into students' taxpayer-subsidized federal student financial aid and called… Continue Reading
06.08.12
Senators Ask That Decisions to Include Tobacco in Tariff Reductions be Reconsidered as Part of Trade Agreement
[WASHINGTON, D.C.] - Senators Dick Durbin (D-IL), Frank R. Lautenberg (D-NJ), Richard Blumenthal (D-CT), Tom Harkin (D-IA), and John Kerry (D-MA) today wrote to United States Trade Representative (USTR) Ron Kirk to express their strong support of the USTR's Trans-Pacific Partnership (TPP) Agreement Tobacco Proposal, but also urged the USTR to reconsider the decision not to exclude tobacco products from future tariff reductions. As the TPP Agreement is being negotiated, the Obama Administration h… Continue Reading
06.07.12
Durbin, Miller Urge Examination of Student Debit Card Practices
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL), the Assistant Senate Majority Leader, and U.S. Representative George Miller (D-CA), the senior Democrat on the House Committee on Education and the Workforce, today sent letters to Education Secretary Arne Duncan, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and Department of Education Inspector General Kathleen Tighe, expressing concern over the adverse financial impact debit card agreements between banks and institut… Continue Reading
05.30.12
Durbin Pledges to Work to End Campus Debit Card Fees that Send Taxpayer Funds Directly to Banks
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today released the following statement after the consumer group U.S. PIRG published a report describing troubling aspects of partnerships that colleges have formed with financial institutions to provide students with federal student aid disbursements via debit cards that carry significant fees. The report also discussed efforts by colleges and financial institutions to provide students with campus checking accounts and campus identification c… Continue Reading
05.23.12
Durbin: FDA Should Be Better Equipped to Respond to Dietary Supplement Safety Concerns
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today spoke on the Senate floor about his amendment to the Food and Drug Administration (FDA) Safety and Innovation Act which would help ensure that the agency has the information it needs to respond quickly and efficiency when safety concerns about dietary supplements - including those contained in energy drinks - arise. Durbin's amendment is based on a provision in the Dietary Supplement Labeling Act which he introduced in 2011 with Senator… Continue Reading
05.14.12
Durbin Calls for Passage of Safe Chemicals Act
[CHICAGO, IL] - U.S. Senator Dick Durbin (D-IL) today called for Senate passage of legislation that would overhaul an antiquated law that has left American families exposed to dangerous toxic chemicals included in everyday household products and furnishings and given the U.S. Environmental Protection Agency (EPA) little recourse against the aggressive chemical companies that have exploited the lack of oversight. "The U.S. EPA, wittingly or unwittingly, has allowed the manufacturers of toxic … Continue Reading
05.09.12
Durbin Chairs Hearing on FCC Budget
[WASHINGTON, D.C.] - Assistant Majority Leader Dick Durbin (D-IL) chaired a hearing today before the Senate Appropriations Subcommittee on Financial Services and Government on the President's FY13 budget request for the Federal Communication Commission (FCC). "Our nation's communications system enables us to keep in touch with friends and family; enjoy endless forms of entertainment; stay up to date on the news of the day; and to participate in the global economy," Durbin said. "The FCC ensu… Continue Reading
04.18.12
Durbin Applauds TD Bank's and Eastman Credit Union's Decision to Adopt Fee Disclosure Form
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) sent a letter to the CEOs of TD Bank and Eastman Credit Union applauding their decision to voluntarily adopt a disclosure form designed to make checking account terms and fees transparent and easy for consumers to understand, as he has been urging. A copy of that letter is attached. "TD Bank's and Eastman Credit Union's decision to voluntarily adopt a simple and clear fee disclosure form will help their customers and shows that transparen… Continue Reading
03.20.12
The Looming Student Debt Crisis: Providing Fairness For Struggling Students
Hearing of the Senate Judiciary Subcommittee on Administrative Oversight and the Courts Our nation faces a serious problem with student loan debt. Last month, the National Association of Consumer Bankruptcy Attorneys issued an eye-opening report titled "The Student Loan 'Debt Bomb." The report pointed out that American student borrowing exceeded $100 billion in 2010, and total outstanding student loans exceeded $1 trillion last year. There is now more student loan debt in this count… Continue Reading
03.20.12
Durbin: Congress Ignores Exploding Student Debt Crisis
[WASHINGTON, D.C.] - At a hearing to examine the growing student loan debt crisis in America, U.S. Senator Dick Durbin (D-IL) today urged Congress to take steps to help struggling students beginning with the passage of his Fairness for Struggling Students Act - a bill that will restore fairness in student lending by treating privately issued student loans in bankruptcy the same as other types of private debt. Durbin also addressed the role of for-profit colleges in exacerbating the growing debt… Continue Reading
03.15.12
Durbin Announces A Nearly $600,000 Investment in Illinois First-Responder Capabilities
[WASHINGTON, DC] - U.S. Senator Dick Durbin (D-IL) announced that the Federal Emergency Management Agency (FEMA), part of the Department of Homeland Security (DHS), has made a $597,490 investment in five fire departments in Illinois. Today's funding will help support and improve the capability of each department to respond to fires and other types of emergencies. "Our nation's firefighters are called upon day after day to protect America's citizens," Durbin said. "As these brave men and wom… Continue Reading
03.07.12
Durbin, Hagan, Schumer Urge Robust Action to Protect Consumers from Predatory Lending
[WASHINGTON, D.C.] - U.S. Senators Dick Durbin (D-IL), Kay R. Hagan (D-NC), Charles Schumer (D-NY) this week urged the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, to take additional steps to limit payday lenders from preying on consumers. The Senators sent a letter to Cordray on Monday. The text of that letter is attached. This week is designated as National Consumer Protection Week. "Even as our economy begins to show signs of recovery, many hardworking f… Continue Reading
03.07.12
Durbin: USDA Includes Illinois in New Certification Process to Reduce Errors and Fraud in School Lunch Program
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today applauded the U.S. Department of Agriculture for including the State of Illinois - including the Chicago Public Schools - in a new demonstration project that will help reduce fraud in the National School Lunch Program and increase enrollment among eligible low-income children. Under this announcement, Illinois will be able to enroll students automatically for free schools meals based on participation in Medicaid which can help prevent e… Continue Reading
03.07.12
Durbin Urges Eligible Illinoisans to Take Advantage of Free Online Tax Assistance
[WASHINGTON, D.C.] With the deadline for filing federal tax returns rapidly approaching, U.S. Senator Dick Durbin (D-IL) today encouraged qualifying Illinoisans to take advantage of free tax preparation services available through the IRS Free File program. The program allows taxpayers with a 2011 Adjusted Gross Income of $57,000 or lower to have their federal tax returns prepared, completed and e-filed at no cost. "This program provides a valuable service at no cost to low- and middle-income… Continue Reading
03.01.12
Durbin Blasts Bank of America On New Checking Fee Plans. Again.
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL) released the following statement today after Bank of America announced new monthly fees for its checking account holders unless they bank online, buy more products or maintain a minimum balance: "Here we go again. Four months to the day after Bank of America rolled back plans to squeeze their customers instead of serving them, they are at it again. This brazen return to new monthly fees is a challenge that cannot go una… Continue Reading
02.28.12
Durbin Applauds University of Illinois Employees Credit Union's Decision to Adopt Fee Disclosure Form
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) sent a letter to Greg Anderson, Chief Operating Officer of the University of Illinois Employees Credit Union, today applauding the credit union's decision to voluntarily adopt a disclosure form designed to make checking accounts terms and fees transparent and easy for consumers to understand, as he has been urging. A copy of that letter is pasted below and attached. "University of Illinois Employees Credit Union's decision to voluntarily a… Continue Reading