Congressman Gregory W. Meeks Named Conferee to Advance Wall Street Reform Legislation

(WASHINGTON, DC)– Congressman Gregory W. Meeks (NY-6), Senior Member of the House Committee on Financial Services and Chairman of its Subcommittee on International Monetary Policy and Trade, was named by Speaker Nancy Pelosi as conferee to the conference committee that will complete comprehensive Wall Street reform legislation. As one of the conferees, Congressman Meeks will work with the Senate to develop a strong bill to send to the President for his signature that achieves strong consumer protection, transparency and accountability for the financial sector, an end to taxpayer-financed bailouts and tough oversight of Wall Street.

“Last December my colleagues in Congress and I passed the Wall Street Reform and Consumer Protection Act that was enacted to restore transparency and accountability to the financial system. As conferee I plan to make sure that by having a strong presence of financial oversight and accountability in this legislation U.S. consumers will have the necessary financial protection and be as financially informed as possible,” stated Congressman Meeks.

The Wall Street Reform and Consumer Protection Act established a new Consumer Financial Protection Agency to protect consumers from lending abuses, gave those on Main Street the necessary tools to make the best decisions on homes, credit cards and their own financial future, and brought transparency to CEO pay and bonuses. Last month the Senate passed similar legislation to hold Wall Street accountable and the conference committee will work to send a final bill to the President in the quickest manner possible.

Congressman Meeks added, “Our economy is in the process of recovery and many families are still undergoing extreme hardships to make ends meet financially because of the failed policies of President Bush and Congressional Republicans. By working on this legislation as a conferee I plan to make sure that Americans on Main Street come first.”

Now serving in his sixth full-term, Meeks was elected to the House on February 3, 1998. Representing New York's Sixth Congressional District in the United States House of Representatives, Meeks' district covers all towns of Southeast Queens, Far Rockaway and Howard Beach. He is a member of the House Committee on Financial Services and the Committee on Foreign Affairs. Congressman Meeks is the Chairman of the International Monetary Policy & Trade Subcommittee of the House Financial Services Committee. He is a Member of the Congressional Black Caucus (CBC), New Democrats Coalition and the Democratic Leadership Council (DLC). He serves as the Co-chair of the Malaysia Caucus, Services Caucus, Dialogue Caucus, OAS Caucus and the Middle East Economic Partnership Caucus.