The 2008 financial crisis showed us how vital it is that we have a transparent financial market and stringent consumer protection laws that are properly enforced. Millions of hardworking families lost their homes—tens of thousands in Maryland alone—and many neighborhoods still have not recovered fully. Senator Van Hollen fought tooth and nail to protect his constituents from the predatory practices of certain big banks and was part of the team that passed the Wall Street reform law in 2010.
Senator Van Hollen has been a leader in continuing efforts to hold the financial industry accountable, protect consumers from harmful financial practices, and prevent powerful special interests from returning us to the kind of gambling on Wall Street that caused the economic crisis. As a member of the Senate Banking Committee, he has fought to preserve access to affordable housing and expand access to credit – particularly for small and minority-owned businesses so they can innovate, grow, and create good jobs in our communities. Senator Van Hollen is also focused on efforts to protect consumers from cyber theft, data breaches, and unscrupulous business practices. These predatory actors often target the most vulnerable populations, including student borrowers and military families, and Senator Van Hollen has done outreach across the state to make sure all Marylanders have the information they need to protect their families.