Standing up to Wall Street

Like most Montanans, Jon is a strong believer in accountability. And that’s why he has led efforts to reform Wall Street and make sure that big banks play by the rules.

Pointing to a need for oversight of the Wall Street banks that helped cause the financial crisis, Jon bucked his party in 2008 and became the only Senate Democrat to vote against the bailouts of both Wall Street and the U.S. auto industry.

He voted twice to end the Wall Street bailout early and use all unused funds to lower the national debt.

From his seat on the Banking Committee, Jon helped write new rules to “put the credit card industry back on the side of hardworking Montanans.” Signed into law in 2009, the new protections for consumers included:

  • A ban on unfair interest rate hikes
  • An extra week for cardholders to pay their bills
  • A requirement of more notice for rate or finance charge changes, and for clearer statements
  • A ban on card companies exploiting young Americans, like college students.

Jon was instrumental in writing the Wall Street Reform Bill — and from his seat on the Banking Committee, Jon made sure the bill worked for Montana and rural America. Most importantly, Jon made sure the new law ended the notion of “too big to fail” and taxpayer-funded bailouts of Wall Street.

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Three things you can do right now to help Jon keep working for Montana:

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