Update (05/22/18): In a 231 to 191 vote, the House has passed the Consumer First Act. The legislation now moves to the Senate for consideration.
Under acting CFPB Director Mick Mulvaney and continuing with Director Kraininger, the Trump Administration has gutted the agency’s fair lending enforcement, sided with predatory payday lenders, and dismantled financial protections for servicemembers. The Consumer First Act will reverse the Trump Administration’s anti-consumer agenda and return the Consumer Financial Protection Bureau to its original mission: protecting American consumers. H.R. 1500 would restore:
Full supervisory and enforcement powers in the Bureau’s fair lending office;
Prior interagency agreements that promote effective coordination among governmental offices;
Adequate CFPB staffing in its enforcement and supervisory positions to effectively hold predatory lenders accountable; and
Create a dedicated CFPB student loan office.
Tell your representative to support this critical legislation to reestablish the CFPB's important role in protecting consumers.