Team Maloney Kicks Off “14 for 14”
Today, Team Maloney launched “14 for 14,” to highlight 14 of Carolyn’s many achievements for the 14th Congressional district.
Each day, we’ll be posting a new landmark accomplishment on our website here, as we count down the last 14 days of the campaign and continue to build towards victory on Primary day.
To kick off “14 for 14,” Team Maloney highlights a piece of legislation passed last year that is saving consumers billions of dollars a year. That’s the Credit CARD Act -- Carolyn's own historic reform that is reining in the unfair practices of the credit card and banking industries.
It is a massive regulation overhaul for the credit card industry, designed to increase transparency and level the playing field for consumers. For years, the credit card companies got away with abusive practices, from hiking interest rates retroactively to double-cycle billing. Along with myriad credit card company gimmicks outlawed by this bill, these hidden fees were costing Americans some $10 billion per year.
Not anymore. The CARD Act means that credit card companies will finally be held more accountable to their customers. It’s why President Obama has consistently referred to it as one of the most critical achievements of his administration.
And it’s not the first time Carolyn has been a champion for consumers. In fact, she’s the reason ATMs have to disclose the fee they charge when you take out money.
Carolyn is more dedicated than ever to protecting consumers – a cause she has championed throughout her career. She will work to ensure that the Credit CARD Act is strongly enforced, starting with fighting for the appointment of Elizabeth Warren as the Director of the Consumer Financial Protection Bureau.
