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For Immediate Release
07/14/09
Contact: |
Jena Longo - Democratic Deputy Communications Director 202.224.7824
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Hearing Summary-The Economy and Fraud: Protecting Consumers During Downward Economic Times
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WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation continued the fight for American consumers and held a subcommittee hearing today on The Economy and Fraud: Protecting Consumers During Downward Economic Times.
Witness List:
The Honorable Chris Koster, Attorney General, State of Missouri
Mr. David Vladeck, Director, Bureau of Consumer Protection, Federal Trade Commission
Mr. Chuck Bell, Director of Programs, Consumers Union
Ms. Sally Greenberg, Executive Director, National Consumers League
Mr. Timothy J. Muris, Foundation Professor of Law, George Mason University School of Law and Of Counsel O'Melveny & Myers LLP
Key Quotes from Today’s Hearing:
“The reality is that with the economic challenges we face, families are more vulnerable than ever to financial scams, predatory marketing practices, and economic fraud. We all see the news every day about more layoffs, plant closings, soaring prices and more cutbacks in West Virginia and across the nation. No one deserves the potential ruin these schemes threaten. We have a responsibility to uncover them and provide consumers with the tools they need to avoid becoming victims of fraud and abuse.”
Chairman John D. (Jay) Rockefeller IV
“In my six months as Missouri’s Attorney General I have been continually amazed at the lengths individuals will go in an attempt to scam innocent people out of their money. I am certain it has always been so; I saw it in my ten years as a county prosecutor. But these tough economic times, with desperate consumers needing help and an array of new government programs, seem the perfect climate for frauds and scams to thrive. False hope is notoriously easy to provide.”
The Honorable Chris Koster, Attorney General, State of Missouri
“The economic downturn has shown how quickly and easily opportunists adopt schemes to take advantage of individuals in financial distress. The Commission is committed to using its law enforcement authority aggressively to bring these schemes to a halt, and to continue deploying public alerts and educational materials to help consumers avoid being victimized in the first instance. The Commission supports legislation that would help it do more to protect consumers by authorizing it to issue consumer protection rules and obtain civil penalties for violations of those rules.”
Mr. David Vladeck, Director, Bureau of Consumer Protection, Federal Trade Commission
“These diverse financial come-ons and ripoffs come in a variety of forms and permutations, and unfortunately do not lend themselves to a one-size-fits all, silver bullet solution. However, we believe that given the risks to consumers, everyone must do more…”
Mr. Chuck Bell, Director of Programs, Consumers Union
“The impact of fraud nationally is stunning. According to FTC estimates, 30.2 million consumers were victims of fraud in a single year. The impact of fraud on businesses is equally staggering. According the Association of Certified Fraud Examiners, a 50,000 member professional organization, it is estimated that fraud costs organizations approximately seven percent of annual organizations revenues, or approximately $994 billion annually. Given these sobering statistics, we believe it is imperative that public policy makers at all levels of government -- and particularly at the federal level -- redouble their efforts to educate consumers about the threat of fraud and to vigorously enforce existing statutes and regulations pertaining to fraud.”
Ms. Sally Greenberg, Executive Director, National Consumers League
“The costs of fraud to consumers are enormous. Fraud takes many forms from fraudulent credit repair services, to unauthorized billing, to deceptive weight loss products. A survey released by the FTC in 2007 showed that an estimated 13.5 percent of U.S. adults, approximately 30.2 million consumers, were victims of one or more of the frauds covered in the survey, and that an estimated 48.7 million incidents of these frauds had occurred during the previous year.”
Mr. Timothy J. Muris, Foundation Professor of Law, George Mason University School of Law and Of Counsel O'Melveny & Myers LLP
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30th - |
Rockefeller, Boxer Applaud Funding for Rail Safety Grants
- WASHINGTON, D.C. – Today U.S. Senators Barbara Boxer (D-CA) and John D. Rockefeller IV (D-WV) lauded the Senate Appropriations Committee for fully funding a new railroad safety technology grant program, created by the Rail Safety Improvement Act of 2008.
The committee passed the Transportation, Housing and Urban Development Appropriations bill, which includes $50 million for the Railro...
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30th - |
Hearing Summary - Climate Services: Solutions from Commerce to Communities
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Witness List:
The Honorable Gary Locke, Secretary, U.S. Department of Commerce
The Honorable John P. Holdren, Director, Office of Science and Technology Policy, Executive Office of the President
Key ...
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30th - |
Chairman Rockefeller's Remarks on Climate Services: Solutions from Commerce to Communities
- Our climate shapes every aspect of our lives. It determines where we build our roads and homes. It affects our health and it controls the amount of energy we need. Over one-third of our nation’s Gross Domestic Product is affected by weather and climate.
Climate change is happening—the scientists agree—we have observed rising temperatures and sea levels, reduced snow and ice...
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30th - |
Rockefeller Seeks Information on Health Care Co-ops
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29th - |
Hearing Summary: Nominations Hearing
- WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation held a full committee hearing today on nominations.
Witness List:
Mr. Christopher P. Bertram, to be Assistant Secretary for Budget and Programs and Chief Financial Officer at the United States Department of Transportation
Ms. Susan L. Kurland, to be Assistant Secretary for Aviation and International A...
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28th - |
Hearing Summary - Weathering the Storm: The Need for a National Hurricane Initiative
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Witness List:
Dr. Kelvin K. Droegemeier, Co-Chairman, Task Force on Hurricane Science and Engineering, National Science Board
Dr. Richard W. Spinrad, Assistant Administrator, Office of Oceanic an...
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27th - |
Nominees Confirmed
- WASHINGTON, D.C. – The U.S. Senate confirmed the following nominees by unanimous consent on July 24, 2009:
Ms. Mignon L. Clyburn, to be a Member of the Federal Communications Commission (FCC)
Ms. Meredith Attwell Baker, to be a Member of the Federal Communications Commission (FCC)
Ms. Deborah A.P. Hersman, to be Chairman and Member of the National Transportation Safety Board (N...
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24th - |
Rockefeller Calls for Audit of General Motors and Chrysler Terminations
- WASHINGTON, D.C. – Senator Jay Rockefeller has requested the Special Inspector General of the Troubled Assets Relief Program (TARP) review the methodology of the General Motors (GM) and Chrysler decisions to terminate more than 2,000 dealership franchises across the country.
“There is substantial confusion, even among dealers themselves, as to how GM and Chrysler selected dealersh...
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22nd - |
Chairman Rockefeller's Remarks on Advertising Trends and Consumer Protection
- With this hearing, the committee continues to highlight the Federal Trade Commission’s role in protecting the American people, especially at a time of unprecedented economic crisis. Last week, we explored the increasing frequency and danger of economic fraud and financial scams during tough times.
Today, we will examine deceptive advertising and its power to undermine consumers’ c...
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22nd - |
Hearing Summary: Advertising Trends and Consumer Protection
- WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation held a subcommittee hearing today on Advertising Trends and Consumer Protection.
Witness List:
Mr. David Vladeck, Director, Bureau of Consumer Protection, Federal Trade Commission
Ms. Sally Greenberg, Executive Director, National Consumers League
Dr. Urvashi Rangan, Director for Technical...
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21st - |
Rockefeller Applauds Senate Commerce Committee's Approval of FAA Reauthorization Bill
- WASHINGTON, D.C.— Senator John D. (Jay) Rockefeller IV, Chairman of the U.S. Senate Committee on Commerce, Science, and Transportation, released the following statement today after legislation to reauthorize the Federal Aviation Administration (FAA) was approved by the Commerce Committee:
“I am very pleased that this important legislation was quickly approved by the Committee and t...
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21st - |
Chairman Rockefeller Applauds Senate Commerce Committee's Extension of Critical Highway Programs
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The Senate Commerce Committee approved a bill to extend the Nation...
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21st - |
Executive Session Committee Legislation Summary
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Nomination of Polly Trottenberg, to be Assistant Secretary for Transportation Policy of the United States Department of Transportation (PN 549)
Nomination of Deborah A.P. Hersman, to be Chairman and Memb...
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20th - |
Chairman Rockefeller on the 40th Anniversary of the First Moon Landing
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“Forty years ago, three brave NASA astronauts ventured into the unknown carrying an entire nation’s hopes and dreams with them. When Apollo 11 lan...
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17th - |
Rockefeller and Hutchison Press DOT on Antitrust Immunity Cases
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16th - |
Hearing Summary: Competition in the Health Care Marketplace
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Witness List:
Mr. Richard A. Feinstein, Director, Bureau of Competition, Federal Trade Commission
Dr. Len M. Nichols, Director, Health Policy Program, New America Foundation
Mr. David Balto, Senior Fellow, Center For ...
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15th - |
Chairman Rockefeller Alarmed by Magnitude of Cyber Attacks
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Chairman Rockefeller and Senator Snowe recently introduced bipa...
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14th - |
current Press Release |
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14th - |
Rockefeller, Hutchison, Dorgan, Demint Introduce Bipartisan Aviation Bill
- WASHINGTON, D.C. – Chairman of the U.S. Senate Committee on Commerce, Science and Transportation John D. (Jay) Rockefeller IV (D-WV), Ranking Member Kay Bailey Hutchison (R-TX), Chairman of the Aviation Operations, Safety and Security Subcommittee Byron Dorgan (D-ND), and Ranking Member of the Aviation Operations, Safety and Security Subcommittee Jim DeMint (R-SC) joined together today to in...
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13th - |
Chairman Rockefeller and Ranking Member Hutchison Statements on the Nomination of Chris Bertram
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“Mr. Bertram brings a ...
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10th - |
Chairman Rockefeller Adds Another Company to His Online "Mystery Charges" Investigation
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Today, Senator Rockefeller sent a letter to the President of Affini...
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9th - |
Hearing Summary: Nominations Hearing
- WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation held a full committee hearing yesterday on nominations.
Nominations Include:
Panel I
Mr. Charles F. Bolden, Jr., to be Administrator of the National Aeronautics and Space Administration (NASA)
Ms. Lori Garver, to be Deputy Administrator of the National Aeronautics and Space Administration (NASA)
...
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8th - |
Executive Session Committee Legislation Summary
- Washington, D.C.—Today the U.S. Senate Committee on Commerce, Science, and Transportation held an Executive Session and favorably reported out the following legislation:
S. 588, Cruise Vessel Security and Safety Act of 2009
S. 649, Radio Spectrum Inventory Act
S. 668, Northwest Straits Marine Conservation Initiative Reauthorization Act of 2009
S. 1194, Coast Guard Authorizati...
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Audio Clip | Video Clip
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