Consumers' Concerns

Congressman Dingell has long been an advocate for the rights and safety of consumers. As an original author of the Consumer Product Safety Act in 1972, he helped create the Consumer Product Safety Commission, a federal agency charged with protecting U.S. consumers from unsafe products.  Mr. Dingell’s career has also been characterized by a great interest in providing consumers with greater choice in the marketplace.  For example, Mr. Dingell is an original co-sponsor of H.R. 1706, the “Protecting Consumer Access to Generic Drugs Act of 2009,” which would increase the availability of generic pharmaceuticals, thereby decreasing drug prices for consumers.

Oversight of Wall Street

Mr. Dingell played a key role in passage of H.R. 4173, the Wall Street Reform and Consumer Protection Act. Signed into law by President Obama on July 21, 2010, this legislation will re-regulate the financial services industry and end the abuses by the financial services industry that plunged the U.S. economy into the gravest economic crisis since the Great Depression.  Congressman Dingell recognizes the impact of the current financial crisis on ordinary people and has been a leading voice in the House of Representatives for a thorough investigation of the causes, which have led to a recession whose scope is exceeded only by that of the Great Depression.  Mr. Dingell has introduced H.Res 345, a resolution to establish a bi-partisan select committee of House members to examine deficiencies in U.S. regulation of the financial services industry. 

Credit Cards

Similarly, Congressman Dingell has always sought to protect consumers from unfair and predatory practices, particularly by lenders.  In the 111th Congress, Mr. Dingell was an original co-sponsor of H.R. 627, the “Credit Card Accountability Responsibility and Disclosure Act of 2009.”  H.R. 627, which was signed into law by President Obama on May 22, 2009, imposes strict requirements on credit card companies for raising a cardholder’s APR, as well as mandates that certain, very stringent conditions be met before a credit card company may alter finance charges or fees assessed to a cardholder.

Helping Homeowners

The current recession has touched every part of the economy, not the least of which is the housing market.  Michigan currently has the sixth-highest foreclosure rate in the Nation, and Congressman Dingell has worked with his colleagues in Washington to pass meaningful legislation to keep hard-working families in their homes.  Mr. Dingell was an original co-sponsor of the Helping Families Save Their Homes Act of 2009, which was signed into law by President Obama on May 20, 2009.  This important law allows the Secretary of Housing and Urban Development to implement a national program to make it easier for lenders to modify home loans for eligible delinquent mortgages.  Under this program, such mortgages may be modified to include terms more favorable to homeowners struggling to make ends meet.  For more information about this and other federally sponsored homeowner programs, please visit the Department of Housing and Urban Development’s website, or for Michigan-specific information, visit the website of the Michigan State Housing Development Authority.

Related Legislation

H.R. 111 – Community Choice in Real Estate Act

H.R. 225 – Emergency Homeownership and Equity Protection Act

H.R. 230 – Housing Opportunity and Mortgage Equity Act of 2009

H.R. 1543 – To amend the Internal Revenue Code of 1986 to impose a tax on bonuses received from companies receiving TARP funds

H.R. 1586 – To impose an additional tax on bonuses received from certain TARP recipients

H.R. 1761 – Responsible Use of Taxpayer Help Act

H.Res. 345 – Establishing a select committee to make a thorough and complete investigation of the causes of the current financial crisis and other matters

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