Carolyn Maloney has always fought for consumer protections -- with great success for regular New Yorkers. She authored and supported common-sense legislation to protect families from fraud, identity theft, and predatory lending. Rep. Maloney personally crafted laws to keep New Yorkers - and the nation - safe, including:
- Credit Cardholder’s Bill of Rights. Carolyn wrote this to level the playing field between consumers and credit card companies, protect New Yorkers from unreasonable fees, and increase the notifications that credit card companies had to give consumers when the terms of their accounts changed. The Pew Foundation estimated that Carolyn’s bill saves consumers $10 billion a year. Her leadership led Money Magazine to call Carolyn "the best friend a credit card user ever had."
- The Consumer Overdraft Protection Fair Practices Act, which Carolyn introduced, required that consumers “opt-in” to overdraft protections before they could ever face any charges.
Back in 1999, it was Carolyn Maloney who crafted the law that required ATMs to warn you if they were going to charge you a fee. While this was a major milestone for consumer rights, it was a particularly tough move for Carolyn Maloney, as many of the major banks, who opposed the measure, came from her district. Time and time again, Carolyn Maloney has stayed true to everyday New Yorkers, never backing down from tough decisions.