Senator Charles Schumer stated today that he believes that federal credit card legislation set to become law in 2010 should be enacted earlier in order to prevent credit card companies from raising their rates in the present. The senator cited a Pew Charitable Trusts study that found that credit cards companies raised their rates by 20 percent in the first half of 2009 while federal interest rates dropped.
Schumer has accused credit card companies of using the period of time before the new laws are enacted to gouge consumers with the same practices that will be banned in 2010 when the …read more

According to New York Democratic Senator Charles Schumer, many of the more prominent Wall Street firms have a significant advantage over smaller firms because of their ability to access certain information more quickly. In order to alleviate this discrepancy, Schumer has called for federal regulators to keep a more vigilant eye on these firms.
 
In a letter addressed to the Securities Exchange Commission’s chairman, Mary Schapiro, Schumer encouraged the SEC to take action regarding this practice. Schumer also warned the SEC that if it would not be able to do anything to remove or mitigate the advantage, he would be forced …read more

Take a look at the advisers and directors of the nonprofit Foundation for Defense of Democracies and you’ll notice a lot of names with a similar political bent: Steve Forbes. Newt Gingrich. Jeane Kirkpatrick. Bill Kristol. Gary Bauer. Richard Perle. Charles Krauthammer. Even FDD’s Democrats — Joe Lieberman and Zell Miller — are known for their conservative leanings.
So why, exactly, were Donna Brazile, the campaign manager of Al Gore’s 2000 presidential bid, and three of her partymates — New York Senator Charles Schumer and Congressmen Jim Marshall of Georgia and Eliot Engel of New York — so surprised that the …read more