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  • Wells Fargo CEO grilled by House panel
    Posted in Articles on September 29, 2016 | Preview rr
    Tags: Jobs & the Economy

    Wells Fargo CEO John Stumpf returns to Capitol Hill Thursday to testify about the bank's sales practices. Stumpf will appear before the House Financial Services Committee on Thursday morning. Scroll down for live updates. 12:47 p.m. Jim Himes (D-Conn.) highlighted that $20 billion in market value from Wells Fargo's stock has been erased amid this scandal. That is like "obliterating half of Ford Motor" in terms of market value, he said. Pressed Stumpf that it's more than just a question if the sc... Read more

  • Wells Fargo CEO Roasted on Capitol Hill for 'Egregious Fraud', 'Identity Theft'
    Posted in Articles on September 29, 2016 | Preview rr
    Tags: Jobs & the Economy

    Wells Fargo CEO John Stumpf faced down a furious panel of lawmakers Thursday as the House Financial Services Committee grilled him on his bank's shady practices. Representative Maxine Waters, the committee's ranking Democrat, told Stumpf that Wells Fargo's abuse of the public's trust was "some of the most egregious fraud we have seen since the foreclosure crisis," and compared it to mass identity theft. For his part, Stumpf offered up more apologies, and said the bank planned to halt the cross-s... Read more

  • Wells Fargo's focus on 'products' is called out
    Posted in In the News on September 29, 2016 | Preview rr
    Tags: Jobs & the Economy

    In his questions for Wells Fargo Chief Executive John Stumpf, Rep. Ed Perlmutter (D-Colo.) focused on an issue not particular to that bank but exemplified by its practices and its in-house terminology: Banks are focused not simply on taking deposits and making loans, but on selling “products.” Most big banks have several products, from basic checking and savings accounts to debit cards, credit cards and retirement accounts. And most big banks want their customers to use several products -- an id... Read more

  • New bill would give tax credits for cyber insurance
    Posted in In the News on September 26, 2016 | Preview rr
    Tags: Jobs & the Economy

    Rep. Ed Perlmutter (D – Colo.) introduced legislation this month to subsidize data breach insurance for businesses while encouraging practices that would keep them from ever having to use it. The Data Breach Insurance Act would offer a tax deduction of 15 percent of the cost of breach insurance. Perlmutter said he has received positive feedback for the bill from both legislators and stakeholders. “Using an incentive approach rather than a mandate gives this a much better chance of succeeding, bo... Read more

  • Perlmutter Introduces Legislation to Help Mitigate the Impacts of Data Breaches
    Posted in Press Releases on September 15, 2016 | Preview rr
    Tags: Jobs & the Economy

    Washington, D.C. – Today, U.S. Rep. Ed Perlmutter (CO-07) introduced new legislation encouraging American businesses to fortify their systems and networks in an effort to mitigate the impact of cyber-attacks and data breaches. The Data Breach Insurance Act (H.R. 6032) provides a two-prong approach by providing a fifteen percent tax credit to companies who purchase data breach insurance coverage and adopt the National Institute of Standards and Technology (NIST) Cybersecurity Framework or any oth... Read more

  • Dem Lawmakers Grapple with Calls to Bring Back Glass-Steagall
    Posted in In the News on August 17, 2016 | Preview rr
    Tags: Jobs & the Economy

    PHILADELPHIA — The resurrection of Glass-Steagall has proven surprisingly popular among the rank and file of both political parties, but the lawmakers who would theoretically implement the Depression-era law's reinstatement appear wary of the idea. Much like their Republican colleagues last week, Democratic lawmakers at the convention here were skeptical of embracing such a plan, unsure of what it would look like. "The old Glass-Steagall wasn't an effective law," said Rep. Brad Sherman D-Calif.,... Read more

  • Government officials respond to DEA’s pot rescheduling denial
    Posted in In the News on August 11, 2016 | Preview rr
    Tags: Jobs & the Economy

    The news is finally official: The Drug Enforcement Administration denied a five-year-old marijuana rescheduling petition on Thursday morning. It was the fourth consecutive time the DEA has denied a petition to reschedule cannabis, and the agency’s announcement sent shockwaves throughout America’s legal pot industry. The decision, which will likely push medical marijuana research forward while keeping cannabis within the ultra-restrictive Schedule I classification, also caught the attention of re... Read more

  • Perlmutter Celebrates Startup Day Across America
    Posted in Press Releases on August 4, 2016 | Preview rr
    Tags: Jobs & the Economy

    Lakewood, Colo. – On August 4, 2016, U.S. Rep. Ed Perlmutter (CO-07) celebrated the fourth annual Startup Day Across America by interviewing two entrepreneurs in his family: his dad and his daughter “My dad worked for my grandfather when he started his construction company and then started his own company in the 1940s,” said Perlmutter. “My daughter, Abby, recently started her own business and blog named Denver Darling. While their businesses are quite different, they share similar experiences a... Read more

  • Major push to land federal grant for $230M I-25 road project bears fruit
    Posted in In the News on July 26, 2016 | Preview rr
    Tags: Jobs & the Economy, Transportation

    A $230 million project to expand Interstate 25 between Loveland and Fort Collins has netted a $15 million grant from the federal government. The money came from the U.S. Department of Transportation’s highly competitive Transportation Investment Generating Economic Recovery (TIGER) Discretionary Grant Program, which helps pay for road, rail, transit and port projects. The Colorado Department of Transportation (CDOT) had asked for $25 million, according to an April 2016 letter of support for the... Read more

  • Perlmutter, Democrats Lead Effort to Force Vote on Student Loan Debt Refinancing Bill
    Posted in Press Releases on July 14, 2016 | Preview rr
    Tags: Jobs & the Economy, Student Loan Debt

    Washington, D.C. — This week, U.S. Representatives Joe Courtney (CT-02), Kathy Castor (FL-14), Ed Perlmutter (CO-07), Jackie Speier (CA-14), and Eric Swalwell (CA-15) led a discharge petition in an effort to force a yes-or-no vote on H.R. 1434, the Bank on Students Emergency Loan Refinancing Act. In less than forty-eight hours, nearly 170 House Democrats signed the discharge petition in support of allowing students to refinance existing loans. H.R. 1434 would allow borrowers with existing underg... Read more

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