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.

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.

Oversight of Wall Street
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.  This select committee, which is based on the Pecora Commission, which was established in the early 1930s to investigate the sources of the Great Depression, would also have the authority to recommend improvements to the federal regulatory regime for financial services.

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.