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Public Statements

Flashback Friday: 2001: Congresswoman Biggert Voted to Allow Credit Card Companies to Prey on Minors

Press Release

By:
Date:
Location: Naperville, IL

As Congresswoman Biggert and her Tea Party allies are working to the dismantle Wall Street reforms enacted to protect consumers and prevent another economic crisis, it should come as no surprise that Congresswoman Biggert's relationship with Wall Street grew cozy over the 13 years she has been in Washington. Today that means Congresswoman Biggert wants to dismantle the protections of the Consumer Finance Protection Bureau (CFPB) to provide much-needed oversight to Wall Street, but in 2001, Biggert even voted to allow credit card companies to prey on minors.

Flashback 2001: Congresswoman Biggert and Washington Republicans refused to include provisions that would protect minors from predatory credit card processes. Congresswoman Biggert actually opposed protections to require a parent to co-sign credit card agreements for children under age 21 without independent means.

"Illinois families are still digging out from the wreckage caused by the alliance between Wall Street banks and Washington politicians like Congresswoman Biggert," said Bill Foster. "Her past support for abuses like credit card companies preying on minors explains why she and her Tea Party allies want to dismantle the common sense protections that will keep our economy from future collapse. As a scientist and a businessman, I believe we need to have common-sense reforms that protect our consumers and our families while holding Wall Street and Washington responsible for the abuses that hurt our economy and middle class."

Congresswoman Biggert has taken more than $1.3 million from the financial services industry for her campaign.


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