Merkley, Levin Call on Regulators to Close “JPMorgan Loophole”
WASHINGTON – Oregon’s Senator Jeff Merkley and Senator Carl Levin (D-MI) today sent a letter to regulators, calling on them to close the “JPMorgan Loophole.” Although the Dodd-Frank Act prohibits banks from proprietary trading, the regulators’ proposed rule creates a new loophole that could allow proprietary trading to continue even
Merkley: J.P. Morgan’s Trading Losses Show Need for Strong Volcker Rule
Washington, DC- Oregon’s Senator Jeff Merkley, cosponsor of the Merkley-Levin provision in Dodd-Frank that put into law the Volcker Rule, issued the following statement after news that J.P. Morgan lost at least $2 billion in portfolio hedging trades made by their risk management division. “What yesterday’s announcement makes abundantly
Merkley Bill Would Help Homeowners Refinance, Rebuild Equity
Washington, DC- Today, Oregon’s Senator Jeff Merkley introduced the Rebuilding Equity Act, a bill that will lower costs for some homeowners seeking to refinance through the Home Affordable Refinance Program (HARP). Under this bill, if homeowners who are current on their mortgage seek to refinance into a 20-year loan term
MERKLEY MEETS WITH SMALL BUSINESS ABOUT NEW OPTIONS FOR RAISING MONEY ONLINE
Portland, OR – Oregon’s U.S. Senator Jeff Merkley held a roundtable meeting at the Portland State University Business Accelerator today to discuss crowdfunding, a new option for businesses to raise capital online. Merkley wrote the CROWDFUND (Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure) Act which was recently signed
Senators: Implement Volcker Rule Without Delay
Washington, DC – Today, Oregon’s Senator Jeff Merkley and Carl Levin (D-MI) led a group of 22 Senators in calling on regulators to write and implement a strong Volcker Rule free of loopholes and draw clear lines between large hedge-fund like trading and traditional banking. In a letter to Federal
Merkley Statement on Republican Filibuster of the Buffett Rule
Washington, DC– Oregon’s Senator Jeff Merkley issued the following statement after Republicans obstructed the Buffett Rule legislation from coming to the floor for debate. “This evening, my Republican colleagues blocked debate of the Buffett Rule. That is outrageous. It is wrong that millionaires and billionaires are paying a lower tax
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