Press Releases
Currently showing results related to Consumer and Financial Protection
Durbin Announces a More Than $9,000 FEMA Grant to Monmouth Fire Department
[WASHINGTON, DC] - U.S. Sen. Dick Durbin (D-IL) announced today that the Federal Emergency Management Agency (FEMA), part of the Department of Homeland Security (DHS), has awarded $9,500 in a grant for fire prevention to the Monmouth Fire Department. The Monmouth Fire Department has two stations and protects 10,000 Illinoisans. "Our nation's firefighters are called upon day after day to protect America's citizens," Durbin said. "As these brave men and women put themselves in harm's way, we … Continue Reading
05.18.11
Durbin Asks State of Illinois to Comply with EPA Decision on Water Quality Standards for Chicago River
[WASHINGTON, D.C.] - After a briefing from the U.S. Environmental Protection Agency (EPA) Administrator, Lisa Jackson, U.S. Senator Dick Durbin (D-IL) today asked the Illinois Environmental Protection Agency (IEPA) to strengthen its water quality standards for the Chicago and Calumet Rivers as soon as possible. Yesterday, American Rivers - a national environmental group - named the Chicago River among the ten most endangered rivers in the country. The group estimates that sewage comprises roug… Continue Reading
05.18.11
Durbin Raises Concerns with FDA About Melatonin in Baked Goods
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today raised concerns with the Food and Drug Administration (FDA) about baked goods containing neurohormone melatonin that, because they are marketed as dietary supplements, do not require approval by the FDA for use as additives in food. Durbin asked the FDA to clarify its authority to regulate foods that contain additives, such as baked good that contain high doses of melatonin. "Products with names such as Lazy Cakes, Kush Cakes, and L… Continue Reading
05.17.11
Durbin Joins Four Other Senators in Asking for Investigation into Gasoline Price-Fixing
[WASHINGTON, D.C.] - As the average gas price remains above $4.00 per gallon in Illinois and climbing to nearly $5.00 per gallon in some parts of the state, U.S. Senator Dick Durbin (D-IL) today joined four other Senators in asking the Federal Trade Commission (FTC) to investigate potential price fixing of gasoline by U.S. refiners. Later today, the Senate will vote on a bill that would eliminate tax breaks and subsidies for big oil companies and divert the $21 billion in savings over the next … Continue Reading
05.12.11
Durbin: EPA Decision is an Important Opportunity to Make Chicago River Accessible for Generations to Come
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today said that a decision by the Environmental Protection Agency (EPA) to require improved water quality standards for the Chicago River is an important opportunity to make this iconic waterway accessible to generations of boaters, kayakers and even swimmers. Durbin also pledged to work with MWRD, the City of Chicago and the State of Illinois to identify federal resources that can be made available to meet the EPA's new standard. "Disch… Continue Reading
05.12.11
Durbin, Lautenberg, Harkin Call Tobacco CEO Comments: "Reckless and Scientifically Inaccurate"
[WASHINGTON, D.C.] - U.S. Senators Dick Durbin (D-IL), Frank Lautenberg (D-NJ) and Tom Harkin (D-IA) today set the record straight on the addictive nature of cigarettes after hearing a statement by the CEO of Philip Morris International, Louis Camilleri, claiming that while smoking cigarettes is addictive, "it is not that hard to quit." In reality, a 2010 Surgeon General's report indicates that in recent years tobacco companies have altered cigarettes to make them more addictive. "As the CE… Continue Reading
05.04.11
Durbin Holds Budget Hearing on SEC and CFTC
[WASHINGTON, DC] - Assistant Senate Majority Leader Dick Durbin (D-IL) today chaired a hearing which reviewed the funding requests of the nation's primary financial market regulators - the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). SEC Chairman Mary Schapiro and CFTC Chairman Gary Gensler were witnesses before Durbin's Appropriations Financial Services and General Government Subcommittee. "With our markets on the rebound, record high gas pri… Continue Reading
04.28.11
Durbin Responds to American Bankers Association on Interchange... Again
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL) has responded to yet another letter from the American Bankers Association reiterating their opposition to any and all reforms of the interchange system. Durbin's letter to the ABA today seeks to "cut to the chase" regarding the motivations behind the ABA's criticisms of the interchange reform law that Congress enacted last year. "You say in your letter that your members are concerned about the Federal Reserve's draft in… Continue Reading
04.12.11
Letter to JPMorgan Chase CEO Jamie Dimon Regarding Interchange Fees
TO: Jamie Dimon, Chief Executive Officer and President JPMorgan Chase & Co. 270 Park Avenue New York, NY 10017 Dear Mr. Dimon: In your recent annual letter to your company's shareholders, you wrote a lengthy and dismissive critique of the debit interchange fee reform legislation that I drafted and that Congress enacted last year. You have also been quoted describing my amendment as "counterproductive," "price fixing at its worst," and "downright idiotic." I am compelled t… Continue Reading
04.05.11
Durbin Chairs Hearing on Treasury Department's Budget
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL) chaired a hearing today reviewing the FY12 budget request for the Department of the Treasury and the impact of the FY11 Continuing Resolutions. The President's FY12 budget request for the Treasury Department is $1.39 billion, excluding the Internal Revenue Service and the Community Development Financial Institutions Fund, and would fund expanding staff focused on improving the Department's analytical capacity and for im… Continue Reading
03.31.11
Durbin Meets with Fellowes, Inc CEO to Discuss Dispute in China
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today met with the CEO of Illinois-based Fellowes, Inc., Jamie Fellowes, to discuss the company's effort to recover hundreds of millions of dollars worth of capital assets and intellectual property that were stolen by the company's onetime Chinese business partner. Late last night, Durbin sent a letter to the Secretary of Commerce, Gary Locke, asking him to intervene in order to help resolve the dispute. In his letter to Secretary Locke, … Continue Reading
03.30.11
Durbin Asks National Urban League to Support Effort to Protect Students and Taxpayers from Abuses in the For-profit College Industry
[WASHINGTON, D.C.] - In a speech to the National Urban League, U.S. Senator Dick Durbin (D-IL) today asked the organization to support the effort by the Obama Administration and members of Congress to protect students and taxpayers from abuses within the for-profit college industry. Acknowledging that many for-profit colleges are good actors and do important work, Durbin noted that the bad actors could cause us to repeat the mistakes of the subprime mortgage crisis by saddling a generation of y… Continue Reading
03.30.11
Durbin Questions Nuclear Experts at Senate Hearing
[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today questioned the Chairman of the U.S. Nuclear Regulatory Commission, Gregory Jaczko, and the Department of Energy's Acting Assistant Secretary for Nuclear Energy, Dr. Peter Lyons, about the safety of nuclear power plants in the United States and the prospect of renewing the U.S.'s interest in research into the reprocessing of nuclear fuel - as is being done in countries like France, Britain and Russia. Last week, Durbin and Senator Mark K… Continue Reading
03.29.11
Durbin: Interchange Reform will Take Effect as Planned on July 21
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL) released the following statement today after Federal Reserve Chairman Ben Bernanke said that interchange reform would take effect on July 21, 2011: "Chairman Bernanke reiterated to me today that the Federal Reserve is working diligently to finalize its rules in a timely fashion and that new interchange regulations will take effect on July 21st, one year after Wall Street Reform was signed into law," Durbin said. "On tha… Continue Reading
03.18.11
Durbin, Kirk: President Issues Major Disaster Declaration for State of Illinois
[WASHINGTON, DC] - U.S. Senators Dick Durbin (D-IL) and Mark Kirk (R-IL) today announced that President Obama has made a major disaster declaration for the State of Illinois triggering the release of federal funds to help communities recover from the severe winter storm and snow storm which occurs January 31 - February 3, 2011. "Although the snow has been cleared and the storms are long gone, residents and business owners are still facing a mountain of challenges. This Presidential disaster … Continue Reading
03.17.11
Response to the Wall Street Journal's Editorial on Swipe Fee Reform
Mr. DURBIN. Mr. President, I usually do not get up in the morning and race to read the editorial page of the Wall Street Journal. It is not part of my morning routine. I do not agree with them on most of the positions they have taken and I have found many times the statements they make are sometimes grossly inaccurate. This morning was no exception. They printed an editorial on the issue of interchange fees on debit cards. They had some critical things to say, which is their right, and my… Continue Reading
03.16.11
Swipe Fee Reform
This week, we are considering legislation on the Senate floor that affects small businesses. I want to talk about another issue very important to small businesses; that is, the topic of interchange fees, also known as swipe fees. Last week, nearly 200 small businesses came to Washington, DC, from Illinois and from all across America. They came to stand up in support of the reform of interchange fees, swipe fees, that Congress passed last year. They came to stand up to the major credit car… Continue Reading
03.15.11
Durbin Statement on Efforts to Delay Implementation of New Interchange Fee Law
[WASHINGTON, D.C.] - Assistant Senate Majority Leader Dick Durbin (D-IL) issued the following statement today on legislative efforts to delay implementation of common sense reforms to the interchange fee system: "Every month we delay limiting the amount banks and credit card companies charge merchants means another $1.3 billion bailout for Visa, MasterCard and their big bank allies. The $13 trillion banking industry doesn't need another handout - especially one paid for by small business and… Continue Reading
03.15.11
For-profit Colleges
I have come to the Senate floor a number of times over the past year to speak about my concerns about the rapid growth of for-profit colleges. I believe some for-profit colleges are quality institutions, but I also believe many are taking advantage of Federal taxpayer dollars and doing more harm than good for unsuspecting students. In no area is this issue more important than when it comes to our veterans. A few years ago, I proudly joined Senator James Webb of Virginia, who said to me wh… Continue Reading
03.13.11
Durbin: $4 Gas Prices are a Wake-Up Call for Nation
[Chicago, IL] "Our addiction to oil is costing American families millions at the gas pump while enslaving us to political dictators in the Middle East and North Africa," U.S. Senator Dick Durbin (D-IL) said today. "These rapidly rising prices are a wake-up call for our nation." Gas prices are nearing a two-year high and continue to rise. Here in Chicago, prices are pushing $4 per gallon in many spots and have risen by 11 percent-36 cents-in just the last month. "Working families just sta… Continue Reading