News Releases

PROVIDENCE, RI – U.S. Senator Jack Reed (D-RI) wants airline passengers to wave good bye to asterisks, fine print, and sticker shock. Reed has called for stronger regulations to protect consumers from hidden fees and taxes, and starting this... Read More

WASHINGTON, DC – Today, after President Barack Obama announced his intention to use his executive power to name former Ohio Attorney General Richard Cordray as the Director of the Consumer Financial Protection Bureau (CFPB), U.S. Senator Jack... Read More

WASHINGTON, DC -- Today, after the White House announced the nomination of Richard Berner to become the first director of the Office of Financial Research (OFR), U.S. Senator Jack Reed (D-RI), a senior member of the Banking Committee who wrote the... Read More

WASHINGTON, DC – U.S. Senators Dick Durbin (D-IL) and Jack Reed (D-RI) released the following statement today after Chase, the nation’s largest bank, announced it will voluntarily adopt a disclosure form designed to make checking account... Read More

WASHINGTON, DC – After Senate Republicans killed a vote on the nomination of former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB), U.S. Senator Jack Reed (D-RI) said that Republican stonewalling... Read More

WASHINGTON, DC - In an effort to protect soldiers and their families from abusive financial practices, U.S. Senator Jack Reed (D-RI) introduced an amendment to the 2012 Defense Authorization bill that would prevent lenders from charging excessive... Read More

WASHINGTON, DC – In an effort to protect the investing public and improve the oversight of corporate auditing, U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) are introducing the PCAOB Enforcement Transparency Act of 2011. In the wake... Read More

WASHINGTON, DC – U.S. Senator Jack Reed (D-RI) today commended President Barack Obama for nominating former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB).  Reed, a senior member of the... Read More

WASHINGTON, DC – As demands to preserve wasteful tax loopholes continue to hold America’s creditworthiness hostage and prevent the U.S. from paying its bills and taking needed steps to reduce the deficit, U.S. Senator Jack Reed (D-RI)... Read More

House Appropriations Committee Slashes Funding For SEC, Precluding  Desperately Needed Technology Upgrades and Hiring of Additional Investigators Republican Plan to Roll Back Consumer Protections and Return to Lax Oversight of Financial Firms... Read More

WASHINGTON, DC – U.S. Senator Jack Reed (D-RI), a senior member of the Banking Committee, is extremely concerned about the lack of prudent leadership at the Office of the Comptroller of the Currency (OCC), which oversees more than 1,400... Read More

WASHINGTON, DC – U.S. Senator Jack Reed (D-RI) today voted to reduce the deficit and save taxpayers billions of dollars by ending unneeded ethanol subsidies.  The bill to scrap $6 billion in ethanol blender tax credits, which primarily go... Read More

WASHINGTON, DC – In an effort to protect consumers and prevent credit card companies from duping seniors, U.S. Senators Jack Reed (D-RI), Charles E. Schumer (D-NY), Bill Nelson (D-FL), and Robert Menendez (D-NJ) are calling on the Federal... Read More

WASHINGTON, DC - Today, a dozen U.S. Senators sent a letter to the Office of the Comptroller of the Currency (OCC) urging the agency to work with State Attorneys General, the U.S. Department of Justice (DOJ), and the U.S. Department of Housing and... Read More

Washington, DC – Following recent reports of online ticket brokers in Rhode Island posing as the official sales sites for popular venues and overcharging consumers, U.S. Senators Sheldon Whitehouse and Jack Reed have asked the Federal Trade... Read More

Cumberland Farms projects its spending on card fees will hit $48 million this year. Senator Reed speaks on the Senate floor about the impact these fees have on Rhode Island businesses. Senator Jack Reed (D-RI), a senior member of the Banking... Read More

WASHINGTON, DC – In a small but critical victory for Rhode Island families, U.S. Senator Jack Reed (D-RI) today announced that the U.S. Treasury Department is fixing a glaring error and adopting new rules to end the industry’s red-tape... Read More

WASHINGTON, DC - Today, after the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and other regulators announced they have entered into consent orders with several large banks over questionable foreclosure practices, U.S.... Read More

WASHINGTON, DC – The stability and integrity of fractured U.S. financial markets will come under scrutiny today at a hearing of two key U.S. Senate subcommittees. The Senate Banking Committee’s Subcommittee on Securities, Insurance and... Read More

PROVIDENCE, RI - U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) and Congressman Jim Langevin (D-RI) today announced that Rhode Island will receive an additional $22.8 million in federal "Hardest Hit" funding to help protect neighborhood... Read More