Issue Position: Financial & Housing Reform

Issue Position

Mark Pocan recognizes the need for strong financial and housing reforms to ensure that the recession of 2009 is not repeated as well as to oppose predatory banks and pay-day loan businesses that destroy people's lives.

Mark's Accomplishments:

Supported the most stringent pay-day loan reform measures every session since 2001.

Defeated predatory rent-to-own legislation his freshman year through a parliamentary procedure maneuver in 1999.

Led an effort to oppose and convince the Governor to veto legislation allowing predatory rent-to-own companies to charge exorbitant interest, after the Wisconsin Legislature passed the bill in 2006.

Passed a motion in the 2009 budget to add $500,000 for homeless and transitional housing grants.

Mark's To-Do List:

Fully enact Dodd-Frank legislation, and create stronger regulation of the investment and banking industry.

Support measures that assist people with foreclosures and make it easier for those to renegotiate home loans and reduce interest rates so people with less can viably own their home.

Support measures like the Strengthening Economic Development Through Affordable Housing Act, supporting affordable housing.

Support re-regulation of financial industry along the lines of Glass-Steagall.

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