Congressman Gregory W. Meeks Votes In Favor of New Consumer Financial Protection Agency

(WASHINGTON, DC)– Today, Congressman Gregory W. Meeks voted in favor of legislation to establish a Consumer Financial Protection Agency. This legislation will prevent against predatory lending practices and make sure that American consumers get the proper information they need to make informed financial decisions.

“Today, the House Financial Services Committee has voted in favor of critical legislation that will establish a new Consumer Financial Protection Agency that will help provide the necessary financial protection to U.S. consumers while the economy is getting back on track. This new agency will provide comprehensive financial regulation and reform that will protect the people of the U.S. from wrongful financial practices,” stated Congressman Gregory Meeks.

The establishment of this new agency builds upon critical legislation that has been passed in the 111th Congress such as the Credit Cardholders Bill of Rights and the Mortgage Reform and Anti-Predatory Lending Bill, the Financial Institution Compensation Fairness Act and the OTC Derivatives Market Act.

“Great change will be brought to the American taxpayer in the formation of this new Consumer Financial Protection Agency that will provide immediate accountability and consumer financial protection to the American population. As Americans are recovering from the hardships of the financial crisis it is imperative that we keep them as financially informed as possible. I look forward to working with President Obama and Chairman Frank in providing the highest protection possible to enable American families to obtain essential financial information in the most efficient manner possible,” stated Congressman Meeks.

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 parts 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.