Press Releases
Testimony of Senator Charles E. Schumer Hearing on Predatory Lending PracticesHouse Committee on Banking and Finance - May 24, 2000
Thank you Chairman Leach for allowing me the opportunity to testify at this morning's hearing on Mortgage Lending Abuse.There can be no disputing the fact that there has been an enormous rise in the incidences of predatory lending. And this rise has paralleled the explosion of subprime lending in the past ten years, again most notably in our nations's minority and lowincome neighborhoods. Subprime lending has grown from a $20 billion to $150 billion dollar industry between 1993 and 1998.… Continue Reading
05.18.00
JETBLUE OFF TO SOARING START
JetBlue Airway's initial three months in operation were immensely successful, according to Senator Charles E. Schumer (DNY) who obtained flight and performance data, much of which the airline is required to submit to the Department of Transportation (DOT). "JetBlue is off to a blockbuster start that far exceeds even the high expectations that they have set for themselves," said Schumer. "This is tremendous news for Buffalo which is at the heart of JetBlue's operations and… Continue Reading
05.10.00
Schumer Responds to Proposed Regulations on CRA "Sunshine" Provisions
Today, the Department of the Treasury, Federal Reserve , and FDIC released proposed rules on the "Sunshine" provision of the Community Reinvestment Act . US Senator Charles E. Schumer made the following statement regarding the proposed rules: "I am considerably disappointed the proposed rules on CRA's "Sunshine" provision. The rules fall well off the mark of the provision's original intent. If implemented, the proposed rules would hav… Continue Reading
04.19.00
SCHUMER ANNOUNCES INCREASED CUSTOMS STAFFING AT PEACE BRIDGE
US Senator Charles E. Schumer today announced the hiring of 25 new summer customs inspectors for Buffalo and Niagara Falls, increasing the total number of summer inspectors to 77. Last year, Schumer brought US Customs Commissioner Raymond Kelly to the Peace Bridge to examine the traffic delays there and to highlight the need for additional summer inspectors at that customs checkpoint. "These new customs agents will play a crucial role in the effort to ease the traffic congestion tha… Continue Reading
04.10.00
IN LETTER TO GOVERNOR, SCHUMER AND MOYNIHAN URGE PATAKI TO SUPPORT I-86 MONEY
US Senators Charles E. Schumer and Daniel Patrick Moynihan today wrote to Governor George Pataki urging him to support the $3.8 billion State Transportation Bond Act and to ensure that State Department of Transportation's fiveyear capital plan includes the $550 million needed to complete the conversion of Route 17 into Interstate 86. In their letter, Schumer and Moynihan wrote that the I86 project "has suffered from decades of inaction... During the 45 years since the thenBureau of Pub… Continue Reading
04.07.00
IN ANTICIPATION OF MONDAY VOTE, SCHUMER URGES JUDGES TO SUPPORT ORANGE COUNTY COURTHOUSE
US Senator Charles E. Schumer today urged the Justices of the Second Circuit Judicial Council in a letter to approve a Southern District federal court facility in Orange County. The Second Circuit Judicial Council may vote on the proposed facility as early as Monday, April 10. "The growing population and economic activity in Dutchess, Orange, and Sullivan Counties, as well as the steady increase in caseloads from these areas substantiates the need for a new courthouse... A new facil… Continue Reading
04.06.00
SCHUMER CALLS ON ATTORNEY GENERAL RENO TO DROP ALL JUSTICE DEPARTMENT CLAIMS AGAINST ONEIDA LANDOWNERS SENATOR DEMANDS FAIRNESS FOR ONEIDA LANDOWNERS
In the wake of failed negotiations in the Oneida Indian Nation land claims, US Senator Charles E. Schumer today wrote to US Attorney General Janet Reno urging the U.S. Department of Justice to drop all claims against the Oneida landowners, including financial claims. In his letter to Reno, Schumer asked her "to take the final, critical step of removing the landowners from all liability in this suit whatsoever. Innocent landowners should not be held financially or legally responsible in any… Continue Reading
03.22.00
SCHUMER WINS $126 MILLION IN AID FOR NORTHEAST FARMERS
US Senator Charles E. Schumer announced that his amendment, earmarking $126 million for crop insurance programs for Northeast farmers, was accepted by the United States Senate this afternoon. This is the first time ever that crop insurance money has been earmarked for Northeastern farmers. "New York's farmers have never been included in traditional crop insurance efforts," said Schumer. "For too long, crop insurance programs have been designed for farmers in the Midwes… Continue Reading
03.18.00
US Must Demonstrate Willingness to Immediately Tap SPR, Schumer Says
US Senator Charles E. Schumer today released a statement after President Clinton's radio address concerning the nation's skyrocketing oil prices and plummeting inventories. "President Clinton's proposals to deal with the nation's oil crisis are timely and welcome. The four point plan he outlined is beneficial in the longterm, but unfortunately will provide no shortterm relief to the millions of American families suffering from skyhigh gas prices. Prices at the pump … Continue Reading
02.28.00
NEW YORK CITY LACKS COMMERCIAL SPACE NECESSARY FOR SUSTAINED NEW MEDIA GROWTH
Schumer Has Created "Group of ThirtyFive," a HighLevel Task Force to Address Space Crunch Today, PriceWaterhouse Coopers and the New York New Media Association released the Third New York New Media Industry Survey. US Senator Charles E. Schumer released the following statement: "The New York New Media Survey proves that the New Media industry has become a vibrant part of the New York City economy and a vital component of the City's growth. In 1999, New Media employme… Continue Reading
02.10.00
SCHUMER COSPONSORS BILL TO PROTECT PUBLIC & FIREFIGHTERS FROM FIRE HAZARDS
US Senator Charles E. Schumer announced today that he has cosponsored the Firefighter Investment and Response Enhancement (FIRE) Act. The FIRE Act, sponsored by Sen. Christopher Dodd (CT), would allow municipal fire departments to apply for grants from the Federal Emergency Management Agency to help offset the rising cost of equipment, apparatus, facilities, training and staffing. The legislation would make $5 billion available over the next five years for local volunteer and career fire departm… Continue Reading
02.09.00
SCHUMER RENEWS CALL ON PRESIDENT TO TAKE ACTION TO LOWER OIL PRICES
In a letter yesterday to President Clinton, US Senator Charles Schumer and Republican Senator Susan Collins of Maine, reiterated their concern over the astronomical costs of home heating oil and other petroleum products, and urged the Administration to take action to lower the artificially high prices and ease shortages. The letter was prompted by a Sunday morning television appearance by White House Chief of Staff John Podesta in which he stated that the Clinton Administration is &quo… Continue Reading
02.08.00
SCHUMER: DAIRY COMPACT NECESSARY FOR SURVIVAL OF NEW YORK'S DAIRY INDUSTRY
US Senator Charles E. Schumer today submitted the following statement regarding the Dairy Compact to a hearing of the Senate Agriculture Committee: "I continue to believe in the necessity of the Dairy Compact for the Northeast as well as anywhere else farmers are in need of decent commodity prices in order to stay in business. The intention of these Compacts is to ensure dairy farmers a minimum price for their products and to help farm families remain healthy and strong in this era of… Continue Reading
02.02.00
Schumer Announces President's Budget to Include $3 Million for Improvements, Additional Staff at Brookhaven Light Source
US Senator Charles E. Schumer today announced that the President's budget for Fiscal Year 2001 will include three million dollars for the National Synchrotron Light Source at Brookhaven National Laboratory. The funds will allow Brookhaven to begin construction of two experimental stations and to hire 12 additional staff members. "These funds represent a new beginning for Brookhaven Labs," said Schumer. "When the Department of Energy decided last year to close Brookhave… Continue Reading
01.23.00
Senators Collins and Schumer Call for Congressional Hearings on Rising OPEC Oil Pricesand their Legislation to Sell U.S. Oil from the Strategic Petroleum Reserve
With the price of home heating oil rising rapidly, Senators Susan Collins (RME) and Charles Schumer (DNY) have called for Senate hearings on their legislation to offset production cutbacks from OPEC nations by selling oil from the federal government's Strategic Petroleum Reserve. The Senators also renewed their call for the Administration to use its authority to sell oil from the reserve. "The price of crude oil is now at $29.20 a barrel, nearly triple what it was less than a yea… Continue Reading
01.16.00
SCHUMER REVEALS THAT UP TO ONE-THIRD OF NEW YORK CITY, LONG ISLAND SENIORS LACK PRESCRIPTION DRUG COVERAGE; SURVEY OF AREA DRUG STORES SHOWS STAGGERING COST FOR ESSENTIAL MEDICATION
Underscoring the need to expand Medicare to include prescription drug coverage, US Senator Charles E. Schumer today revealed that up to one third of New York City and Long Island seniors may not have prescription drug coverage and that nationally the average senior without prescription coverage spends $800 out of pocket each year filling critical prescriptions. "With so many seniors on fixed incomes, this is the kind of medicine that is hurting people," said Schumer. Schu… Continue Reading
12.20.99
STATEMENT OF SENATOR CHARLES SCHUMER ON SOUTHWEST AIRLINES' SERVICE FROM ALBANY AIRPORT
I am delighted today to welcome Southwest Airlines to Albany. Here, Southwest will find a business community looking to grow and expand and Southwest will be a welcome partner in that expansion. The Capital Region has some of the highest airfares in the entire country. Exorbitant fares in cities like Albany and across the state have had a crippling effect on the Upstate economy. Southwest's affordable air service will give a tremendous boost to the Capital Region's economy. The ann… Continue Reading
12.14.99
SCHUMER ANNOUNCES OVER $500,000 IN HOUSING GRANTS FOR ROCHESTER
US Senator Charles E. Schumer today announced that two Rochester agencies have received a total of over $500,000 in funding under the US Department of Housing and Urban Development's Fair Housing Initiatives Program. The Housing Council in the Monroe County Area and the Monroe County Legal Assistance Corporation will use the funding to develop educational and outreach programs and implement testing and other enforcement programs to prevent and eliminate discrimination in housing. &qu… Continue Reading
12.14.99
SCHUMER CALLS ON POSTMASTER GENERAL TO EXPLAIN ISLANDIA, HAUPPAUGE, RONKOKOMA ZIP CODE CONSOLIDATION
US Senator Charles E. Schumer has called for an explanation of the Long Island District US Postal Service's recent decision to consolidate the zip codes for Islandia, Hauppauge and Ronkonkoma. In a letter to US Postmaster General William J. Henderson yesterday, Schumer expressed concern over the proposed consolidation, which is slated to go into effect on March 11, 2000. "I understand how the new zip code may benefit the Village of Islandia," wrote Schumer. "However, I… Continue Reading
12.09.99
US Senator Charles E. Schumer Opening Statement SEC Town Hall Meeting December 9, 1999
Thank you, and thank you Chairman Levitt for arranging this event to help New Yorkers make better investment decisions. We're here today because technology and a sustained economic boom has ushered in a new era of prosperity and democracy in our markets. Technology has revolutionized our markets from a bastion of the elite, to the provenance of everyone. Today 50% of Americans 78.7 million own equities compared to 42.5 million just 10 years ago. And 14 million started investing in equiti… Continue Reading
