May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4075 to serve his country. Ryan will be join- In conclusion, God bless our troops, CONSUMERS FIRST ACT ing the finest 1 percent of our Nation and we will never forget September the GENERAL LEAVE who have put on the uniform of the 11th in the global war on terrorism. Ms. WATERS. Mr. Speaker, I ask United States. unanimous consent that all Members I welcome Ryan to the club, the f may have 5 legislative days in which to United States military. It is the best revise and extend their remarks on club I ever joined, and I know he will CURRENT EXPECTED CREDIT LOSS H.R. 1500 and to insert extraneous ma- soon agree. ACCOUNTING STANDARD terial thereon. Mr. Speaker, I thank Ryan for his (Mr. LUETKEMEYER asked and was The SPEAKER pro tempore. Is there hard work in my office, but more im- given permission to address the House objection to the request of the gentle- portantly, I thank him for his service for 1 minute and to revise and extend woman from California? to our great Nation. I salute him. There was no objection. Oohrah. his remarks.) Mr. LUETKEMEYER. Mr. Speaker, The SPEAKER pro tempore. Pursu- f today I rise to discuss an issue that is ant to House Resolution 389 and rule WOMEN AND MINORITIES IN probably on the radar for almost every- XVIII, the Chair declares the House in HOUSING body in this country that is watching the Committee of the Whole House on the state of the Union for the consider- (Mr. CLAY asked and was given per- or listening, but it involves new ac- counting standards being proposed ation of the bill, H.R. 1500. mission to address the House for 1 The Chair appoints the gentleman called CECL. minute.) from California (Mr. BERA) to preside Mr. CLAY. Mr. Speaker, I rise today This is supposed to put some trans- over the Committee of the Whole. to introduce a resolution recognizing parency into the balance sheet for peo- women and minorities in housing, ac- ple investing in banks, but it has a far- b 1217 knowledging their efforts in the face of reaching impact in credit unions, debt IN THE COMMITTEE OF THE WHOLE historical discrimination, and pro- collection, and all sorts of other funds, Accordingly, the House resolved moting diversity and inclusion in busi- including the GSEs and credit cards; itself into the Committee of the Whole ness. yet this accounting standard is being House on the state of the Union for the Although the U.S. has become more promoted by the Federal Accounting consideration of the bill (H.R. 1500) to demographically diverse, the financial Standards Board without any study to require the Consumer Financial Pro- services industry, especially at leader- show whether it is going to have an im- tection Bureau to meet its statutory ship levels, remains mostly White and pact or not on our economy and on our purpose, and for other purposes, with male. consumers. Mr. BERA in the chair. President Johnson signed the Fair The Home Builders Association says, The Clerk read the title of the bill. Housing Act on April 11, 1968, 1 week for every $1,000 incoming into the cost The CHAIR. Pursuant to the rule, the after the assassination of Dr. King. The of a home loan, 100,000 people across bill is considered read the first time. Fair Housing Act was a monumental this country will no longer have access General debate shall not exceed 1 step forward for the civil rights move- to home loans. hour equally divided and controlled by ment and pivotal to establishing equal What a dramatic impact on low- to the chair and ranking minority mem- opportunity in housing for all Ameri- moderate-income folks as well as our ber of the Committee on Financial Services. cans. economy as a whole, as well as to fi- Home ownership has proven to be one The gentlewoman from California nancial institutions as a whole. of the most consistent paths to obtain- (Ms. WATERS) and the gentleman from The result of this, in other words, ing wealth in America and narrowing Missouri (Mr. LUETKEMEYER) each will the wealth gap. Closing the racial whenever this thing is implemented, control 30 minutes. wealth gap will be an essential path to- when we have a downturn in the econ- The Chair recognizes the gentle- wards countering historic discrimina- omy and all of a sudden you have to re- woman from California. tion and predatory lending. serve additional money because of Ms. WATERS. Mr. Chairman, I yield that, it will exacerbate, in my opinion, f myself such time as I may consume. the downturn. Mr. Chairman, I rise in support of IN MEMORY OF RONNIE YOUNG This is a horrible deal. We need to H.R. 1500, the Consumers First Act, (Mr. WILSON of South Carolina take another look at it. We need to which restores the Consumer Financial asked and was given permission to ad- stop it and study it. Protection Bureau, so it can carry out dress the House for 1 minute and to re- its mission of protecting consumers vise and extend his remarks.) f from unfair, deceptive, or abusive acts Mr. WILSON of South Carolina. Mr. or practices by financial institutions. Speaker, South Carolina is commemo- b 1215 The Consumer Financial Protection rating the life of Ronnie Young, who Bureau was created by Congress fol- was a model public servant who genu- COMMUNICATION FROM THE lowing the financial crisis in order to inely loved the people he represented. CLERK OF THE HOUSE ensure that there is an agency in place State Representative Young of Aiken The SPEAKER pro tempore (Mr. with the sole, dedicated purpose of pro- tecting every consumer of financial County entered into rest on Sunday. CLAY) laid before the House the fol- He was a native of Aiken County, hav- lowing communication from the Clerk products and services and holding bad ing made the valley community his of the House of Representatives: actors fully accountable when con- lifelong residence. He was a member of sumers are harmed. OFFICE OF THE CLERK, Sweetwater Church of God. Under the leadership of its first Di- HOUSE OF REPRESENTATIVES, rector, Richard Cordray, the Consumer He was a full-time legislator for Dis- Washington, DC, May 22, 2019. trict 84 in the State house. Previously, Hon. NANCY PELOSI, Financial Protection Bureau was a re- he had been elected countywide as The Speaker, House of Representatives, sounding success. During that time, chairman of Aiken County Council. Washington, DC. the agency put nearly $12 billion back His civic involvement included the DEAR MADAM SPEAKER: Pursuant to the in the pockets of over 30 million con- Graniteville Exchange Club, Aiken Ro- permission granted in Clause 2(h) of Rule II sumers who were harmed by financial tary Club, Midland Valley Lions Club, of the Rules of the U.S. House of Representa- institutions. The agency put in place Midland Valley Chamber of Commerce, tives, the Clerk received the following mes- important new protections so that con- and the Has-Been Club. sage from the Secretary of the Senate on sumers no longer had to worry about He is survived by his wife of 48 years, May 22, 2019, at 9:51 a.m.: exploding mortgages, hidden prepaid Appointments: Susan Napier Young, and a sister, Pa- Advisory Committee on the Records of card fees, or unnecessary foreclosures tricia Boyd of Warrenville. Congress (2) due to weak servicing standards. Ronnie Young will always be cher- With best wishes, I am The Consumer Financial Protection ished for his successful dedication to Sincerely, Bureau also helped to take the con- public service. CHERYL L. JOHNSON. fusing jargon out of various financial

VerDate Sep 11 2014 01:24 May 23, 2019 Jkt 089060 PO 00000 Frm 00007 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.012 H22MYPT1 H4076 CONGRESSIONAL RECORD — HOUSE May 22, 2019 products, such as student loans, by cre- discrimination in lending. And she is consideration of the bill. I appreciate your ating tools students can use to com- just getting started. Following general cooperation regarding this legislation and pare financial aid and costs when de- debate on the bill, the House will de- look forward to continuing to work with you as this measure moves through the legisla- ciding where to go to college. bate several amendments to undo the tive process. But Donald Trump and his ap- harmful actions taken by Director Sincerely, pointees have made it their mission to Kraninger. MAXINE WATERS, destroy the Consumer Financial Pro- Congress will not tolerate the Trump Chairwomen. tection Bureau from within. Mick administration’s anticonsumer actions, Mr. LUETKEMEYER. Mr. Chairman, Mulvaney, who was Trump’s Director and H.R. 1500 will ensure that the Con- I yield myself such time as I may con- of the Office of Management and Budg- sumer Financial Protection Bureau is sume. et before Trump inappropriately in- able to fulfill its statutory mission to Since its inception, the Consumer Fi- stalled him as Acting Director of the put consumers first. nancial Protection Bureau has dis- Consumer Financial Protection Bu- Mr. Chairman, I reserve the balance regarded congressional intent in a reau, made it his mission to dismantle of my time. number of alarming ways. Under the the agency from the inside. In fact, en- COMMITTEE ON EDUCATION AND previous Director, Richard Cordray, forcement actions have fallen by 75 LABOR, HOUSE OF REPRESENTA- the agency took it upon itself to essen- percent under Trump’s appointees, TIVES, tially write law through guidance and there have been zero public fair lending Washington, DC, May 17, 2019. regulate through enforcement. Bureau- enforcement actions, Mulvaney origi- Hon. MAXINE WATERS, Chairwoman, House Committee on Financial crats at the CFPB worked diligently to nally requested zero dollars from the Services, Washington, DC. eliminate options for Americans, arro- Fed to fund the CFPB, and the number DEAR CHAIRWOMAN WATERS: I write con- gantly believing they were better of employees at the Consumer Finan- cerning H.R. 1500, the ‘‘Consumers First equipped to make financial decisions cial Protection Bureau has declined by Act.’’ This bill was primarily referred to the than consumers themselves. 10 percent. Committee on Financial Services, and sec- Thankfully, under Acting Director I introduced the Consumers First Act ondarily to the Committee on Education and Mulvaney and Director Kraninger, the to fix the damage that Mulvaney Labor. As a result of your having consulted CFPB is striving to foster an environ- caused at the Consumer Financial Pro- with me concerning this bill generally, I agree to forgo consideration of the bill, so ment that promotes transparency, le- tection Bureau. For example, the bill may proceed expeditiously to the gitimacy, and great consumer choice. Mulvaney stripped the Office of Fair House floor. The American people deserve a Bureau Lending and Equal Opportunity of its The Committee takes this action with our that enforces law rather than creates supervisory enforcement powers. The mutual understanding that by foregoing con- it, while placing power and choice back Consumers First Act restores those sideration of H.R. 1500, we do not waive any in the hands of consumers themselves. powers. jurisdiction over the subject matter con- Unfortunately, the legislation we are Mulvaney fired the Consumer Finan- tained in this or similar legislation, and we considering today accomplishes the cial Protection Bureau’s consumer ad- will be appropriately consulted and involved as the bill or similar legislation moves for- exact opposite. visory board. The Consumers First Act ward so we may address any remaining issue I appreciate the chairwoman’s at- restores and strengthens the advisory within our Rule X jurisdiction. tempt to reform the Bureau and share panel to ensure consumers are heard by In agreeing to forgo consideration, I re- the belief that it needs significant re- the agency’s leadership. spectfully request your support for the ap- form. However, instead of solving un- Mulvaney stacked the senior leader- pointment of outside conferees from the derlying issues that make the CFPB an ship of the Consumer Financial Protec- Committee on Education and Labor should unaccountable bureaucracy with little tion Bureau with ideological political this bill or similar language be considered in oversight, this legislation cherry-picks a conference with the Senate. appointees. The Consumers First Act Finally, I would appreciate a response con- specific actions of former Acting Direc- limits the number of political ap- firming this understanding and ask that a tor Mulvaney and attempts to reverse pointees at the agency. copy of our exchange of letters on this mat- his decisions. Mulvaney stopped the Consumer Fi- ter be included in the Congressional Record Ignoring the underlying structural nancial Protection Bureau from super- during floor consideration thereof. issues of the Bureau, Democrats are at- vising its regulated entities for compli- Very truly yours, tempting to codify their CFPB agenda ance with the Military Lending Act, REP. BOBBY SCOTT, with respect to staffing by limiting po- which is in place to prevent service- Chairman. litical appointees, directing political members from being ripped off. The initiatives through the creation of the HOUSE OF REPRESENTATIVES, Consumers First Act directs the Con- COMMITTEE ON FINANCIAL SERVICES, Office of Students and Young Con- sumer Financial Protection Bureau to Washington, DC, May 21, 2019. sumers, and emphasizing the powers promptly resume Military Lending Act Hon. BOBBY SCOTT, and duties of the Office of Fair Lending exams. Chairman, House Committee on Education and and Equal Opportunity. Mulvaney worked to hide the Con- Labor, Washington, DC. Yet again, my friends across the aisle sumer Financial Protection Bureau’s DEAR MR. CHAIRMAN: I writing to acknowl- are more focused on who is leading the consumer complaint database from the edge your letter dated May 17, 2019, respond- agency than on real reforms that would ing to our request to your Committee that it public. The Consumers First Act re- waive any jurisdictional claims over the increase oversight and accountability quires that the consumer complaint matters contained in H.R. 1500, ‘‘the Con- at the CFPB and could shed light on database remain publicly accessible so sumer First Act,’’ that fall within your Com- some of the issues this legislation that there is transparency about the mittee’s Rule X jurisdiction. The Committee seeks to address. For example, if the complaints consumers are making on Financial Services confirms our mutual CFPB were subject to an Office of In- about financial institutions. understanding that your Committee does not spector General, we would have reports H.R. 1500 puts consumers first by re- waive any jurisdiction over the subject mat- on whether or not staffing levels are versing the harmful actions Mulvaney ter contained in this or similar legislation, sufficient to fulfill the Bureau’s statu- took that we are aware of one by one. and your Committee will be appropriately consulted and involved as this bill or similar tory goals. If the Bureau was subject to Over 50 consumer, civil rights, and legislation moves forward so that we may the appropriations process, Congress labor organizations support the Con- address any remaining issues within your ju- would have a voice in choosing the sumers First Act. risdiction. number of political appointees at the The harm at the Consumer Financial The Committee on Financial Services fur- Bureau. Some of these issues, Mr. Protection Bureau is continuing under ther recognizes your interest in appointment Chairman, are not even partisan, Director Kathy Kraninger, who appears of outside conferees from the Committee on they’re near bipartisan, and yet we to be following Mulvaney’s lead by Education and Labor should this bill or simi- can’t get these things done. lar language be considered in a conference rolling back payday lending protec- with the Senate. Instead of working with Republicans tions and reducing the collection of the Pursuant to your request, I will ensure to reform the Bureau, create trans- Home Mortgage Disclosure Act, or that this exchange of letters is included in parency, and avoid partisan policy HMDA data, which is used to identify the CONGRESSIONAL RECORD during Floor shifts from Director to Director, the

VerDate Sep 11 2014 03:00 May 23, 2019 Jkt 089060 PO 00000 Frm 00008 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.015 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4077 majority is choosing to advance legis- Since then, the law has saved consumers an that well-crafted consumer protections will lation that mandates the advancement estimated $12 billion a year, which translates not only work, but can save Americans tens of political priorities. into well over $100 billion in total savings of billions of dollars. The CARD Act is proof. The bottom line here is the legisla- over the past decade. As The New York Times reported, the CARD Act proved so ef- b 1230 tion before us is wholly partisan and fective that it led economists studying the does nothing to ensure the CFPB can Mr. LUETKEMEYER. Mr. Chairman, law to a single conclusion: ‘‘The regulation I yield the balance of my time to the carry out its mission to protect con- worked.’’ sumers. I oppose this legislation and I Before the CARD Act, some credit card gentleman from North Carolina (Mr. urge my colleagues to do so, as well. companies took advantage of their cus- MCHENRY), ranking member of the full Mr. Chairman, I reserve the balance tomers by raising interest rates or changing committee. of my time. the terms of their contracts without notice. Mr. MCHENRY. Mr. Chair, I yield Hidden terms and fees were lucrative for such time as he may consume to the Ms. WATERS. Mr. Chairman, I yield credit card companies but they were ex- 2 minutes to the gentlewoman from gentleman from Kentucky (Mr. BARR), tremely costly to consumers. However, the ranking member of the Subcommittee New York (Mrs. CAROLYN B. MALONEY) new law was revolutionary, establishing the chair of the Subcommittee on In- strict rules for how credit card companies on Oversight and Investigations of the vestor Protection, Entrepreneurship, must treat their customers, barring many Financial Services Committee. and Capital Markets. unfair practices. On the 10th anniversary of Mr. BARR. Mr. Chair, I thank Rank- (Mrs. CAROLYN B. MALONEY of the CARD Act, it is important to remember ing Member MCHENRY for yielding. New York asked and was given permis- how far we have come and also to look ahead Mr. Chair, this legislation, H.R. 1500, to changes we still need to make. the so-called Consumers First Act, nei- sion to revise and extend her remarks.) So what did the CARD Act do? For start- Mrs. CAROLYN B. MALONEY of New ers, it protected consumers from arbitrary ther puts consumers first nor puts in York. Mr. Chair, I thank the chair for interest-rate increases by prohibiting retro- place the reforms that are needed to her strong support and leadership on active rate hikes. Companies now are re- make the CFPB a stronger and more the Consumers First Act, H.R. 1500. I quired to provide 45 days’ notice of a rate in- accountable regulatory agency. In re- urge everyone to vote ‘‘yes’’ on this if crease and cannot raise rates on existing bal- ality, this bill is an attempt to politi- they care about protecting consumers ances. In the past, companies regularly in- cize consumer protection. creased your interest rate if your risk profile It represents my Democratic col- from abuse. worsened—now they are required to decrease Putting Mick Mulvaney in charge of rates if your credit picture brightens. That is leagues’ genuine expression of frustra- the Consumer Financial Protection Bu- only fair. tion with the current CFPB leadership, reau was the epitome of a fox guarding But consumers were also getting socked by but that frustration is misdirected, Mr. the henhouse. We have to undo all of a host of fees, so the CARD Act introduced Chair. That frustration really is more the damage he did while he was Acting some commonsense changes that made it about their inability to provide mean- Director of the CFPB. much less likely that consumers would be ingful oversight over this Bureau, a hit by these fees. The law requires companies Bureau that they themselves created in The CFPB was supposed to, and did, to mail credit card bills at least 21 days be- protect consumers and returned a great fore the due date; it prohibits companies the Dodd-Frank law. deal of money to consumers. All of from charging extra fees for paying online or I would submit that my Democratic these protections, or many of them, he by phone; and it requires companies to apply friends’ frustration should not be di- deleted. What this bill does is restore payments to balances with the highest inter- rected at former Acting Director Mick these protections to consumers. est rate first. All of these changes save con- Mulvaney or current Director Kathy Let me remind my colleagues of why sumers money. Kraninger. Their frustration is, in fact, The law protects young people from ag- the Consumer Financial Protection Bu- gressive marketing tactics. Companies no a product of the very structure, the reau was created. It was after the worst longer can sell cards to individuals under the very flawed structure, that they them- financial crisis in our history, where age of 21 without an adult co-signer. selves created and now stubbornly de- our people lost over $15 trillion in The law also protects consumers when fend. household wealth. They lost their they cancel their credit card. In the past, a Today’s legislation does absolutely homes, or they lost their jobs. It was company could demand immediate payment nothing to address the fundamental of your balance. Now, a customer has five structural flaws of the Consumer Fi- completely preventable because those years to pay off the balance. were abuses to the financial system. These important changes have kept money nancial Protection Bureau, which The Consumer Financial Protection in consumers’ pockets. The next battle is to could be remedied on a bipartisan basis Bureau was a Bureau that was directed institute fair, common-sense regulation of with simple reforms that my Repub- to protect consumers. Consumers were the overdraft fees on bank accounts. Some fi- lican colleagues and I have supported an afterthought, a secondary thought, nancial institutions use ‘‘overdraft protec- since the Bureau’s creation. a third thought, or not thought about tion’’ to slap their customers with exorbi- I think, now that the leadership has tant fees. With the growing use of debit shifted and there is a new administra- at all in financial regulation. The cards, it’s easier than ever to overdraw a whole system exists for consumers, and checking account, with fees that can run as tion with new appointees in the leader- they certainly are entitled to be pro- high as a 17,000 percent annual percentage ship, many of my Democratic friends tected from unfair, abusive practices. rate, according to the Consumer Financial are having regrets about the structure To give an example, I was particu- Protection Bureau. That’s not a financial that they originally created. larly concerned about his hostility to service—it’s a robbery. What would be the reforms that we data. Decisions should be based on That is why, since 2005, I have been intro- should together as a body on a bipar- ducing legislation that would ban abusive data. Under Director Cordray, the Bu- overdraft practices like reordering trans- tisan basis support? A bipartisan com- reau published a report on the effects actions in order to maximize the number of mission; subjecting the Bureau to con- of the Credit CARD Act, which I au- fees banks can charge, and to require over- gressional appropriations with my leg- thored. They would publish it every 2 draft fees to be proportional to the size of islation, the Taking Account of Bu- years. the overdraft—no more $35 overdraft fees for reaucrats’ Spending Act, which would Mr. Chairman, this is an incredibly a $2 cup of coffee. My bill would also require restore the power of the purse over this important bill, and I urge a ‘‘yes’’ vote. banks to notify consumers that a purchase agency; an independent inspector gen- Mr. Chairman, I include in the or an ATM withdrawal is about to trigger an overdraft, and provide consumers with a eral, which would hold leadership of ei- RECORD an article I wrote for The Hill choice of whether to accept the overdraft ther party accountable. about the CARD Act. service and fee. That, like the CARD Act, Mr. Chair, this is just a messaging [From The Hill, May 22, 2019] would prevent millions of Americans from bill. It is not a true attempt to legis- unwittingly losing money to their banks. CARD ACT TURNS 10: CHANGES HAVE KEPT late. This bill does nothing to get at Opponents of the CARD Act said that try- MONEY IN CONSUMERS’ POCKETS the lack of accountability of this Bu- ing to limit the fees credit card companies (By Rep. Carolyn B. Maloney (D–N.Y.)) reau. charged would prove unsuccessful and that To further make this point, my Ten years ago, on May 22, 2009, credit card companies would just create new fees, But customers got some needed relief when the that has not happened. friend, the chairwoman, talks about Credit Card Accountability Responsibility So when people tell me that regulation the need to add supervisory authority and Disclosure (CARD) Act became law. does not work and is costly, I remind them to the Bureau over enforcement and

VerDate Sep 11 2014 03:00 May 23, 2019 Jkt 089060 PO 00000 Frm 00009 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.016 H22MYPT1 H4078 CONGRESSIONAL RECORD — HOUSE May 22, 2019 compliance with the Military Lending have a regulator working solely on Mr. DAVID SCOTT of Georgia. Mr. Act, but the bill doesn’t do that. I have their behalf in order to protect them Chair, I thank the chairwoman for a bill that does that. In fact, I offered from predatory and abusive actors. yielding. the bill as an amendment, but Monday Under Director Richard Cordray’s lead- Mr. Chair, this is singularly the most night, in the Rules Committee, they ership, the Consumer Financial Protec- significant part of the Dodd-Frank leg- made this amendment out of order. tion Bureau helped over 30 million con- islation. It is the heart and the soul of This is not about actually giving the sumers who were harmed and addressed it because it goes to protecting the Bureau supervision over the Military over 1.2 million complaints about fi- American people against the abuses Lending Act. If they really wanted nancial institutions. that have been predicated upon it. that, they would have approved my As the chairman of the Sub- This bill is singularly important. Let amendment. We would be voting on my committee on Housing, Community De- me tell Members some of the things it amendment to give the Bureau super- velopment and Insurance, I am pleased does. visory authority over enforcement of to see that this critical legislation re- Mr. Chair, right now, we have 44 mil- the Military Lending Act. stores the supervisory and enforcement lion students, 44 million student loan But, no. This is just about making a powers of the Bureau’s office tasked borrowers, who are suffering, trying to political point. Sure, they have find- with combating discriminatory lending figure out how to pay back these loans. ings that there should be supervisory practices, which have been responsible There are predatory lenders that are authority over Military Lending Act for causing the racial wealth gap to out to abuse these students. compliance. Well, then why not make continue to grow, especially after the What does Ms. WATERS’ bill do? It es- this Republican amendment in order to financial crisis of 2008. tablishes a dedicated student loan of- make it a bipartisan bill? This is a commonsense bill that, fice within the CFPB to protect the They don’t want a bipartisan bill. again, puts the American consumer Nation’s 44 million student loan bor- They want a political message. first and ensures that, in the regular rowers. That is what this bill does. This reaffirms our point that this course of business and commerce, peo- Also, it emphasizes the need for a legislation is not about consumer pro- ple are not forgotten. transparent and accessible consumer tection. It is not about putting con- Mr. MCHENRY. Mr. Chair, I yield 1 complaint database. We get it all the sumers first. It is about politics. It is minute to the gentleman from the time. Consumers presently make com- about giving lip service to protecting great State of North Carolina (Mr. plaints at the way they are handling our servicemembers while excluding BUDD). the CFPB now under the Trump admin- the necessary action to actually do it. Mr. BUDD. Mr. Chair, I thank the istration. No attention is paid to that. Mr. Chair, I encourage a ‘‘no’’ vote gentleman from North Carolina (Mr. No transparency is there. Ms. WATERS’ on this bill. Let’s roll up our sleeves. MCHENRY), the ranking member, for effort here will correct that. Let’s defend this institution. Let’s yielding. Mr. Chair, this financial dynamic work together in a bipartisan way to Mr. Chairman, I rise today in strong that we have suffered still looms large, truly enact the reforms, the structural opposition to H.R. 1500. It is decep- and we need to restore the Consumer reforms that will strengthen consumer tively, and yet cleverly, named the Financial Protection Bureau to its protection that will make this Bureau Consumer First Act. rightful stature as the one premier accountable to the American people Let’s talk some facts. agency that does the singular, most through their elected representatives. House Financial Services Committee important thing today: protect the fi- Let’s make this a bipartisan commis- Republicans have been trying for years nancial transactions of our American sion. Let’s give this institution, both to increase transparency and account- people. Republicans and Democrats, the power ability at the CFPB. We have tried to Mr. MCHENRY. Mr. Chair, I yield 3 of the purse over this agency so that create an Office of the Inspector Gen- minutes to the gentleman from Ten- when a Director from the Trump ad- eral for that purpose. We have also nessee (Mr. JOHN W. ROSE), a new mem- ministration is in place, this body will tried to bring accountability by sub- ber of the Financial Services Com- have the ability to provide meaningful jecting the CFPB to the appropriations mittee. oversight, and when there is a Demo- process. Yet, despite our attempts, we Mr. JOHN W. ROSE of Tennessee. Mr. cratic appointee heading this agency, have been met with opposition every Chair, I rise in opposition to H.R. 1500. this body will also be able to exercise single time to what used to be a bipar- Mr. Chair, my colleagues on the meaningful oversight. tisan goal. other side of the aisle would have Mem- Mr. Chair, I urge a ‘‘no’’ vote. Let’s Now, today, we see a bill that my bers believe that the Consumer Finan- do real reforms. Let’s not just make friends on the other side of the aisle cial Protection Bureau’s structure is political points. are pushing that would undermine our settled law. In fact, I am certain they Ms. WATERS. Mr. Chair, we have no previous efforts to shine some daylight will continue repeating that view. regrets about how we organized the on this agency. Rather than working However, no matter how many times Consumer Financial Protection Bu- with us to reform the agency and its they repeat the sentiment, repeating it reau, and the supervisory authority is authorities, and rather than working will never make it true. already in law. All they have to do is with us to avoid constant partisan pol- This is not settled law. The American implement it. icy shifts from Director to Director, people deserve to be represented in Mr. Chair, I yield 2 minutes to the rather than working with us in a bipar- government entities on every level, es- gentleman from Missouri (Mr. CLAY), tisan manner, the majority is choosing pecially those as integral to their lives the chair of the Subcommittee on to move legislation today that simply as the CFPB. Housing, Community Development and advances their own political agenda. I can assure you, the people of the Insurance on the Financial Services Mr. Chair, I oppose this bill. Sixth District of Tennessee are un- Committee. Ms. WATERS. Mr. Chair, it is abso- happy with the structure of the Con- Mr. CLAY. Mr. Chair, I thank the lutely unbelievable that the Repub- sumer Financial Protection Bureau chairwoman for yielding, and I rise licans on the opposite side of the aisle and its utter lack of accountability. today to enthusiastically support the now talk about wanting to work with My constituents have expressed the Consumers First Act, a bill that re- us after they have done everything pos- same frustration time and again. The turns the Consumer Financial Protec- sible to undermine the Consumer Fi- level of independence given to the tion Bureau to its intended role as a nancial Protection Bureau. CFPB is counter to the very freedoms nonpartisan consumer watchdog that We move ahead with restoring it we expect in this country. elevates the interests of American tax- from all the harm that has been done It is our job to ensure that the Amer- payers above those of special interests. to it. ican people have a voice in the business The Bureau was created by the Dodd- Mr. Chair, I yield 2 minutes to the of their government. Right now, the Frank Wall Street Reform and Con- gentleman from Georgia (Mr. DAVID structure of the CFPB does not provide sumer Protection Act following the fi- SCOTT), a leading senior member of the a voice to the people of Tennessee or to nancial crisis to ensure that Americans Financial Services Committee. the people of this country.

VerDate Sep 11 2014 01:24 May 23, 2019 Jkt 089060 PO 00000 Frm 00010 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.017 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4079 This is unacceptable. It is unaccept- tor from dismantling it and halting its Mr. Chairman, I would commend to able to me, and it should be unaccept- important work, as this administration the House that, when someone gets able to each of us in this Chamber. has attempted to do time and time into fundamental issues of a 5-year Over 240 years ago, our forbearers again. term that the only way the Director fought a Revolutionary War, a War of Mr. Chairman, I support this because can be fired is for cause. The Demo- Independence with a battle cry of, ‘‘No I support the workers. I support what crats have created an unaccountable taxation without representation.’’ Per- they do for consumers. I support this bureau of government. haps that battle cry today should be, legislation, and I will proudly debate Now, I think what we have today is a ‘‘No regulation without representa- anyone who thinks this chairwoman bit of buyer’s remorse by my Demo- tion.’’ has not established legislation and cratic colleagues who created the Do we trust a fully independent bu- policies that put consumers first. CFPB in order to be this unaccountable reaucrat with unlimited government I urge all of my colleagues, even bureau, but headed by a Democrat or a funding to act in the best interests of those on the other side: Let’s talk Democratic Presidential appointee. honest, hardworking Americans, or do about bipartisanship. Let’s get on Now that we have a Republican ap- we trust their elected representatives? board and vote ‘‘yes’’ for this. pointee in the CFPB, they want to re- Overwhelmingly, I trust those of us Mr. MCHENRY. Mr. Chairman, I re- order how the Director has her staff re- in this body to oversee the CFPB far serve the balance of my time. port to her. Ms. WATERS. Mr. Chairman, I yield more than we can ever rely on an inde- That is what a big chunk of this bill 2 minutes to the gentleman from Illi- pendent bureaucrat to do so. We are does. They want to micromanage the nois (Mr. GARCI´A), a member of the Fi- held accountable every 2 years in this Bureau because they don’t like what nancial Services Committee. the current Director is doing. Chamber. If voters do not like the way Mr. GARCI´A of Illinois. Mr. Chair- If we seek to actually have long-term we are doing our job, they can send us man, I rise today in strong support of consumer protection within our finan- home. This matters to the American the Consumers First Act and thank people, and it should matter to us. cial regulators, I think we need a bi- Chairwoman WATERS and Speaker H.R. 1500 does not address the real partisan board to oversee an agency PELOSI for their leadership. issues here: a lack of accountability, I remember the housing market col- like this. I think it is a fundamentally an abuse of power, and an ever-expand- lapse in 2009 very clearly. I remember different agency when you have a bi- ing footprint of the Federal Govern- the foreclosure signs going up all over partisan board and it looks and acts ment. Chicago and in my own neighborhood more like the Securities and Exchange Instead, H.R. 1500 attempts to micro- of Little Village, a working-class com- Commission that has long-term, last- manage the Bureau now that my munity. Families lost homes. They ing buy-in by both parties and by the friends on the other side of the aisle skipped meals. They took second and American public for the enforcement see what it is like when the shoe is on third jobs just to scrape by. Too many actions that they take and gives inves- the other foot. families never recovered. tors confidence in that area. The esteemed ranking member from President Obama and the Democratic On this side of the ledger, what we North Carolina and I urge our fellow majority swore to never allow a Great said on the Republican side during the Members to join us in voting against Recession to happen again. Never again Dodd-Frank debate and we have said this legislation, the latest rendition of would we allow Wall Street to go un- consistently since then is, if you want irresponsible Big Government. checked and allow consumers to be a lasting Bureau, you need to have a Ms. WATERS. Mr. Chair, this is a ripped off wholesale by the big banks. bipartisan board. And funny enough, I consumer bill. My friends on the oppo- We passed sweeping legislation, think that was originally a bipartisan site side of the aisle who would try to Dodd-Frank, and we created the Con- idea, and it has now become mostly a kill this bill evidently do not under- sumer Financial Protection Bureau, Republican idea. stand that the day is over when preda- the CFPB. In short, CFPB was going to What I would commend is, if we want tory lending will go forth in this body. be the consumer watchdog for everyday to get into issues of reforming the Bu- Mr. Chair, I yield 2 minutes to the hardworking Americans. reau, we need to get into the structural gentlewoman from Ohio (Mrs. BEATTY), Since Trump’s election, every day reforms about appropriations and a bi- the chair of the Subcommittee on Di- has been an assault against these pro- partisan board and inspector general to versity and Inclusion on the Financial tections: payday lending protections, oversee an agency such as this rather Services Committee. reversed; student loan protections, re- than tinkering around the edges about reporting structures within the Bureau b 1245 versed; predatory auto and home loan protections, reversed. Instead of pro- or the naming of the Bureau. Mrs. BEATTY. Mr. Chairman, I want tecting consumers, Trump and Mick Mr. Chairman, I reserve the balance to thank Chairwoman WATERS for her Mulvaney have made their priorities of my time. leadership and commitment to putting clear: banks over people, business over Ms. WATERS. Mr. Chairman, I yield the consumer back in the Consumer Fi- the consumer. 2 minutes to the gentlewoman from nancial Protection Bureau without re- Systematically, Mulvaney and Wisconsin (Ms. MOORE), a member of grets. Trump have been busy dismantling the the Ways and Means Committee and al- Mr. Chair, I am proud to be an origi- CFPB, the same agency that recently ways a strong leader on consumer pro- nal sponsor of this bill because it does helped a man in New York who had lost tection issues. exactly what the title of this bill says $1,200 wrongly taken from his account. Ms. MOORE. Mr. Chairman, I thank it does. It puts consumers first. One, by He was able to recover it thanks to the Chairwoman WATERS so much for restoring supervisory and enforcement CFPB. That man is one of thousands yielding to me, and I want to thank authority to the Office of Fair Lending. that have been helped by the agency. Chairwoman WATERS and my former It also establishes the student loan of- That is the power of government when colleagues on the House Financial fice—continuing—and resumes mili- it is empowered to fight for every Services Committee for getting this tary lending examinations, all without American. important legislation, the Consumers regret. Meanwhile, Mulvaney has called the First Act, to the floor. Mr. Chairman, I don’t know what my CFPB’s public complaint database The CFPB, as Members have heard, colleagues are talking about. Those are nothing but a ‘‘yelp for financial serv- has been a great equalizer in our finan- things that we need, and maybe that is ices.’’ cial markets for regular Americans. It why some of the people did send them At a time when this administration makes sure that financial institutions back home. I do agree with my col- is working at the behest of Wall Street, follow the law and that regular people league on that. the 1 percent, and the big banks, this are treated fairly. This bill ensures that no matter who Democratic majority is moving for- Every business claims that they put is running the Consumer Financial ward to protect consumers. their customers first, but what happens Protection Bureau, there are protec- Mr. MCHENRY. Mr. Chairman, I yield when they don’t? For far too long, the tions that guard against a rogue Direc- myself such time as I may consume. answer was nothing.

VerDate Sep 11 2014 01:24 May 23, 2019 Jkt 089060 PO 00000 Frm 00011 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.019 H22MYPT1 H4080 CONGRESSIONAL RECORD — HOUSE May 22, 2019 We have seen the car loans at higher Simply put, the Consumers First Act Ms. WATERS. Madam Chair, I would interest rates for people of color and ensures that CFPB maintains the au- like to inquire as to how much time is mortgage products that almost thority and resources to do its job and remaining. brought our economy down and created proactively protect consumers from The Acting CHAIR. The gentlewoman and pushed us into the Great Reces- unfair, misleading, and abusive prac- from California has 9 minutes remain- sion. tices. ing. The gentleman from North Caro- Then along came Dodd-Frank and the Let’s pass this bill to make crystal lina has 17 minutes remaining. CFPB, which set the table for the eco- clear that the CFPB truly does have Mr. MCHENRY. Madam Chair, I am nomic expansion that we have seen the back of every single American con- prepared to close, so I reserve the bal- since 2010. The dedicated men and sumer. I strongly urge my colleagues ance of my time. to vote in favor of H.R. 1500. women of the CFPB have literally put b 1300 $12 billion back into the pockets of vic- Mr. MCHENRY. Mr. Chair, I reserve tims of fraud, harmful financial the balance of my time. Ms. WATERS. Madam Chair, I yield schemes, and other abuses. Ms. WATERS. Mr. Chairman, I yield myself such time as I may consume. Let me say to my colleagues on the 2 minutes to the gentleman from Texas Madam Chair, I am so proud of this other side: Speaker after speaker has (Mr. DOGGETT), a senior member of the legislation, I am so proud of the mem- gotten up and talked about subjecting Ways and Means Committee. bers of the Financial Services Com- the CFPB to the appropriations proc- Mr. DOGGETT. Mr. Chairman, I mittee, and I am so proud of our Demo- ess. They have claimed that they are thank the chairwoman for her leader- cratic Caucus. We have strong support against the independence of the agen- ship because today’s bill is about re- for this legislation. I am so proud of storing effective law enforcement for cies, calling them independent bureau- the over 50 consumer, labor, and civil consumers and protecting them from crats. That is exactly what their com- rights organizations who strongly sup- predatory Wall Street practices. port H.R. 1500, the Consumers First ments lean toward is taking away the Republicans want to shield Wall independence of this agency to deter- Act. Street, granting it free rein to plunder. It has been said more than once mine fraud and abuse and subjecting it Instead of draining the swamp, this to the whims of whoever is the Presi- today that we went through a recession lawless President has drained the Con- here in this country—almost a depres- dent or whoever is the administration. sumer Financial Protection Bureau of Mr. Chair, I urge my colleagues to sion—in 2008 when predatory lending its strength. Public enforcement ac- from the major financial institutions support this important legislation be- tions are down 75 percent. That is how cause it is good for consumers, good for in America caused this recession and they feel about law enforcement. caused us to have communities that businesses, good for our financial mar- The President is refusing to protect kets, and good for the American peo- were devastated—boarded up homes— our active-duty military from preda- we had communities, not only where ple. tory lending; halting payments to con- the homes were boarded up, but the Mr. MCHENRY. Mr. Chair, I reserve sumers who have been wronged; elimi- weeds were growing up, in many in- the balance of my time. nating the office that is designed to stances animals had taken over the Ms. WATERS. Mr. Chair, I yield 2 prevent discrimination in credit property, and many consumers and minutes to the gentleman from Cali- against Latinos, African Americans, homeowners who lost these homes real- fornia (Mr. TAKANO), a strong defender and Asian Americans; and eliminating ly did not know what had happened to of consumers. the office dedicated to addressing stu- them. Mr. TAKANO. Mr. Chairman, I rise in dent loan abuses. strong support of H.R. 1500, a bill that Enough is enough. Instead of It was predatory lending. It was the will ensure the Consumer Financial handcuffing those who do wrong, this tricks that were fostered on innocent Protection Bureau has the necessary administration is handcuffing the people who simply wanted to live the tools to defend American consumers. agency designed to ensure law enforce- American Dream and own a home. The CFPB was created in the wake of ment. They signed on the dotted line for the financial crisis as consumers fell And while this President profited products and mortgages they didn’t un- victim to unfair, deceptive, and abu- himself from scams like Trump Univer- derstand and could not afford. And sive practices. sity, it is time to restore important they were led into signing on the bot- My Republican colleagues have tried consumer protections: law enforcement tom line because we had predatory to undermine it for nearly a decade to protect students, active military, lenders who wanted to get them into a since its arrival. The Trump adminis- and the retirement savings of our sen- situation where they could get some tration has worked to kneecap the iors. money, perhaps up front, and sell off CFPB, using a strategy that prioritizes In just five years, $12 billion was re- the products that they were getting big businesses over individual con- turned to over 30 million American signed on up to Wall Street, et cetera, sumers. As can be seen, enforcement citizens. Wells Fargo would never have et cetera. has decreased by 75 percent at the been penalized a penny for its multi- Of course, we worked for 2 years, and CFPB. million-dollar fraud without a cop on it was in 2010 that we were able to put H.R. 1500 will fortify the CFPB’s core the beat. the Consumer Financial Protection Bu- mission to protect consumers and rem- Mr. Trump and Mr. Mulvaney have reau together, which is indeed the cen- edy the Trump administration’s harm- been about pulling that cop back so terpiece of the Dodd-Frank reforms. So ful anticonsumer tactics. that there is no protection for those we had Mr. Cordray who was our first My home district lies in California’s this agency was designed to serve. Director who did a magnificent job, Inland Empire, and the constituents I Let’s approve this bill to protect Amer- and it has been cited here time and serve understand the importance of icans from financial piranhas who time again. CFPB’s mission all too well. At the would strip their savings to the bone. My friends on the opposite side of the height of the housing crisis, one in five Mr. Chair, I salute the leadership of aisle have done everything that they local households were behind on their the chairwoman of the Financial Serv- could do to dismantle the Consumer Fi- mortgages. In 2008 alone, over 30,000 ices Committee, for standing up for nancial Protection Bureau, and, families from Riverside County lost Americans who have been abandoned Madam Chair, none of them are going their homes to foreclosure. by this administration. It is essential to vote for this bill today. None of This was, however, by Wall Street’s we do our work in Congress to say it is them will criticize the big banks on design. In no other area of the country consumers who come first, not those Wall Street and others who took ad- did subprime loans aggressively pushed who would prefer to take advantage of vantage of our consumers. by lenders claim a bigger proportion of them. Madam Chair, I reserve the balance the overall mortgage market. This bill The Acting CHAIR (Ms. NORTON). of my time. ensures the CFPB is equipped and em- Members are reminded to refrain from Mr. MCHENRY. Madam Chair, I in- powered to fight this type of predatory engaging in personalities toward the quire from Chairwoman WATERS if she lending and much more. President. is prepared to close.

VerDate Sep 11 2014 01:24 May 23, 2019 Jkt 089060 PO 00000 Frm 00012 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.021 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4081 Ms. WATERS. No, I am not prepared when our students had complaints and true champion on behalf of consumers to close. they looked for someone to help them, during her time in Congress. Mr. MCHENRY. Madam Chair, I re- I want all of them to know, well, I sup- This chart shows the decrease in en- serve the balance of my time. pose, there is a new sheriff in town. forcement actions which have plum- Ms. WATERS. Madam Chair, I yield 2 We are going to make sure that the meted by 75 percent under the Office of minutes to the gentleman from Texas Consumer Financial Protection Bureau Management and Budget Director (Mr. GREEN), who is the chair of the is strong, that it is not simply made up Mulvaney. Bear in mind that corrup- Subcommittee on Oversight and Inves- of political appointees, and that they tion and abuse of consumers has not tigations on the Financial Services do not have to worry in the way that gone away. This is a time period when Committee. they are worrying now. We have per- Wells Fargo—a perfect example— Mr. GREEN of Texas. Madam Chair, I sonnel who have quit the Consumer Fi- robbed their customers, opened up fake thank the chair of the full committee. nancial Protection Bureau because it accounts to basically take the pro- I am honored to have this opportunity was not carrying out the mission that ceeds, used their—this is when cus- to speak in support of this bill. was intended. tomers went to Wells Fargo, gave them This bill addresses a concern that Again, I have said earlier how proud all their information, Wells Fargo used many of us on the Financial Services I am to have this bill on the floor and their Social Security numbers and data Committee have had to deal with for to have the support of the Democratic to open up fake accounts, so they could some time now, and it is the question Caucus. charge their own customers—flat-out of whether the committee is going to I would just ask my friends on the theft—and they had to fire 5,300 em- allow the CFPB to protect consumers opposite side of the aisle to think ployees. That doesn’t happen by acci- from unscrupulous behavior or to pro- about what is going on and to think dent. That is a business model that is tect Big Business. I am a person who about ways that they can begin to take built on abusing the consumer. believes that we should protect the into consideration their constituents That is why the CFPB is necessary, consumer. who need protection, and prior to our and that is why we need to pass this This legislation will allow the per- legislation there was no protection for bill today. I support the chairwoman’s sons who receive student loans to avoid consumers. efforts in this regard. being placed into costly repayment Madam Chair, I reserve the balance A dramatic decline is evident, from plans that will cause them to pay more of my time. 54 cases in the Obama administration money and possibly default. It will Mr. MCHENRY. Madam Chair, I yield to 11 this year. The sheriff has basi- cause consumers looking to open a new myself such time as I may consume. cally left the street. There is no more checking account to have the oppor- What I would say, Madam Chair, is cop on the beat now with respect to tunity to do so with a bank that has that this bill does nothing to protect protecting the consumer. Madam Chair, I thank the chair- the least amount of overdraft fees. It consumers. This is all about the report- woman for giving me this time to point will allow persons who are seeking ing structure, the organization chart out the need for the Consumers First credit cards to have the right to seek within the CFPB. In fact, in 21 pages of findings in this bill, the next 21 pages Act, a great bill. relief through the courts, not through Ms. WATERS. Madam Chair, may I of legislative text does nothing to an- some boilerplate language that they inquire how much time is remaining. might find in a contract that will not swer the fundamental questions raised The Acting CHAIR. The gentlewoman benefit them. in the first 21 pages. from California has 30 seconds remain- This is the opportunity that we must Moreover, the reforms that are nec- ing. The gentleman from North Caro- take advantage of to protect con- essary weren’t even considered by the lina has 151⁄2 minutes remaining. sumers. It is the Consumer Financial Democrat majority. So we want to pro- Ms. WATERS. Madam Chair, I re- Protection Bureau, not the financial tect consumers. I think we all want to serve the balance of my time. institutions protection bureau. protect consumers. Where there is mal- Mr. MCHENRY. Madam Chair, I yield So with this said, I wholeheartedly feasance and where there is wrong- myself such time as I may consume. endorse what the chairperson has doing, we will seek it out and we will Madam Chair, let me close by saying brought to the attention of this Con- have bipartisan cooperation for that what I said briefly in debate. This bill gress. These are remedies that are ab- proper oversight by this branch of gov- is about buyer’s remorse. solutely necessary, and I plan to vote ernment. I would say to my colleague from and encourage my colleagues to vote in One area where we can have bipar- Massachusetts who raised the issue support of this legislation. tisan work is the Military Lending Act. about Wells Fargo, there was a bipar- Mr. MCHENRY. Madam Chair, I re- We want to make sure that those who tisan hearing. Chairwoman WATERS serve the balance of my time. are serving in the Armed Forces are called the hearing. We had bipartisan Ms. WATERS. Madam Chairwoman, I protected by those who seek to do fi- questioning of the Wells Fargo CEO. yield myself such time as I may con- nancial wrongdoing and perpetrate fi- We have taken bipartisan work on the sume to just say that we send a mes- nancial wrongdoing. This is an area oversight of regulators and the regu- sage from this House today, and our where Congressman ANDY BARR of Ken- lated when it came to malfeasance by message that we are sending out across tucky has authored a bill. He offered it Wells Fargo and some of the employees this Nation is that we are now in a po- as an amendment—and it was rejected who were within that firm. There was a sition to undo what has been done and by the Rules Committee—that would bipartisan level of cooperation there. the wreckage that has been caused have made this otherwise subpar bill I would also highlight, to my col- with our Consumer Financial Protec- much better in effect, and it would league from Massachusetts, that it was tion Bureau. have actually had a positive impact on not the regulators who found the mal- We send a message that the day for the people whom we all seek to protect. feasance of Wells Fargo, it was the predatory lending is over. I think it is important that our col- good and wise reporting of the Los An- We send the message despite the fact leagues understand part of the reason geles Times. Through investigative that we have Members of this House why we should oppose this bill. I am journalism, they found the malfea- who would dare not stand up for stu- prepared to close, but I will wait for sance, the bad actors, and the bad poli- dents and servicemembers and not the majority to finish with their speak- cies within Wells Fargo—not the regu- criticize what has happened to con- ers before I will do so, and I reserve the lators. That is a failure of the regu- sumers in the way that it has happened balance of my time. lators. It is a failure of the CFPB. We in this country. And so I want that Ms. WATERS. Madam Chair, I yield have yet to have a hearing about those message to be loud and clear. such time as he may consume to the failures. I want those on Wall Street and the gentleman from Massachusetts (Mr. Let me say from the outset about major banks who had the predatory LYNCH). this bill; it proves what Republicans products and who had the exotic loans, Mr. LYNCH. Madam Chair, I want to have said since the passage of Dodd- I want all those who mismanaged the thank Chairwoman WATERS for her Frank: the Consumer Financial Protec- way that they deal with our students great work on this bill. She has been a tion Bureau is unaccountable.

VerDate Sep 11 2014 01:24 May 23, 2019 Jkt 089060 PO 00000 Frm 00013 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.023 H22MYPT1 H4082 CONGRESSIONAL RECORD — HOUSE May 22, 2019 We hear my Democrat colleagues ingly, that I find him destructive, prob- Ms. WATERS. Madam Chair, I am so complain about the actions of a legal ably destructive with his humor, but proud that, today, we are going to overseer of the Bureau, Mick not destructive in the work that he stand up for consumers on this side of Mulvaney, and now the complaints achieves in public policy. I think he is the aisle. It is unfortunate that our about the Republican-appointed Direc- a good public servant, serving our friends on the opposite side of the aisle tor, Kathy Kraninger. We are here country admirably; and, with the work have not seen fit to support consumers. today because Democrats regret that that he did at the Bureau, he was try- They will all vote against this bill. We during Dodd-Frank they didn’t go far ing to achieve the best results possible will vote for this bill on this side of the enough by mandating outcomes by this for consumers, for institutions, for fi- aisle. Bureau, because they didn’t consider nancial safety and soundness, and for Madam Chair, again, I urge my col- that a Republican could actually be a the economy at large. He did good leagues to come to the floor quickly leader of that Bureau and they may work. and vote for consumer financial protec- not like the action of that unaccount- With that context in mind, we know tion, and I yield back the balance of able Director. that this bill is not about helping con- my time. They have buyer’s remorse, and, un- sumers. This bill is about constraining The Acting CHAIR. All time for gen- fortunately, they have decided to ad- Republican Directors from making de- eral debate has expired. vance legislation that does nothing to cisions they believe are in the best in- In lieu of the amendment in the na- create a more responsible CFPB over terest of the agency. ture of a substitute recommended by the long term. Instead of taking this In the Financial Services Committee the Committee on Financial Services, opportunity to work together, to bring markup, Republicans offered amend- printed in the bill, an amendment in transparency and accountability to the ments that would have made respon- the nature of a substitute consisting of CFPB, the majority is moving a bill sible changes to the Bureau. Had those the text of Rules Committee Print 116– that does little more than advance amendments been adopted, the major- 15, shall be considered as adopted and their political agenda and micro- ity would have a much better bill. shall be considered as an original bill manage the Bureau. An inspector general would have pro- for the purpose of further amendment H.R. 1500 codifies and recreates of- vided oversight of the Director, ensur- under the 5-minute rule. The bill, as fices inside the CFPB, some of which ing the mission of the agency is not un- amended, shall be considered as read. are given more authority and some of dermined. That is important for all The text of the bill, as amended, is as which, like the Office of Cost Benefit branches of government. follows: Analysis, are given less. Subjecting the Bureau to annual ap- H.R. 1500 H.R. 1500 actually directs what Bu- propriations would have also ensured Be it enacted by the Senate and House of Rep- reau staff can refer to the Bureau as in congressional oversight of the CFPB, resentatives of the United States of America in public. Now, let me explain: if it is or the Bureau, and a voice in the Congress assembled, called the Consumer Financial Protec- prioritization of Bureau functions. SECTION 1. SHORT TITLE; TABLE OF CONTENTS. tion Bureau under this bill, it is okay. A GAO study examining the efficacy (a) SHORT TITLE.—This Act may be cited as If it is called the CFPB, that is okay. in which the Bureau meets its statu- the ‘‘Consumers First Act’’. If it is referred to as the Bureau, a law tory obligations would have actually (b) TABLE OF CONTENTS.—The table of con- tents for this Act is as follows: has actually been broken under this yielded insight into the workings of bill. the otherwise opaque Bureau. Sec. 1. Short title; table of contents. But those amendments were not Sec. 2. Findings; sense of Congress. b 1315 Sec. 3. Consumer Financial Protection Bureau. adopted. The choice was made to move Sec. 4. Conforming amendments. That is one of the more substantive forward with a partisan declaration in- Sec. 5. Executive and administration powers. changes in the bill, actually. I don’t stead of meaningful bipartisan legisla- Sec. 6. Offices of the Consumer Financial Pro- think it is wise legislating by Congress. tion. That is unfortunate. tection Bureau. That represents the policy side of the Thankfully, there will be a Senate, Sec. 7. Consumer Advisory Board reforms. legislation. One look at this bill’s find- and the Senate has a different view on Sec. 8. Discretionary surplus funds. ings is enough to tell Members what this. It is my hope that this bill does Sec. 9. Effective date. H.R. 1500 is really about. not become law. SEC. 2. FINDINGS; SENSE OF CONGRESS. There are more pages of findings Unfortunately, we can’t improve this (a) FINDINGS.—The Congress finds the fol- than there are of actual legislative lowing: legislation through a meaningful (1) The Dodd-Frank Wall Street Reform and text. The issues they raise in the find- amendment process because of the na- Consumer Protection Act (Public Law 111–203) ings sections, however, are not rem- ture of the rule passed by the Rules (‘‘Dodd-Frank’’), was signed into law on July edied in the legislative text part of the Committee. 21, 2010, in order to, among other things, ad- bill. We are merely adding more political vance the goals of protecting consumers from In a series of disparaging statements, fodder for press releases as a result of predatory financial services practices and prod- former Acting Director Mick this bill. H.R. 1500 will pass the House ucts that led to the 2007–2009 financial crisis. Mulvaney, a former colleague of ours and will go nowhere in the Senate. (2) Title X of Dodd-Frank established a new here in the House and member of the Federal independent watchdog, known as the The Financial Services Committee Consumer Financial Protection Bureau (‘‘Con- Financial Services Committee, and Di- will then turn to the next issue. Hope- sumer Bureau’’), with broad authority to ensure rector Kathy Kraninger are vilified as fully, it is bipartisan legislating, where that all hardworking consumers are given clear, irresponsible zealots. Chairwoman WATERS and I have had accurate information that they need to shop for Specifically, the text describes success in the past, and I hope we have mortgages, credit cards, and other consumer fi- former Acting Director Mulvaney as success in the future. nancial products or services and to protect con- ‘‘anticonsumer,’’ ‘‘destructive,’’ and But, to the American people, I say sumers from hidden fees, abusive terms, and ‘‘inane,’’ only working ‘‘to hamstring that the Financial Services Committee other unfair, deceptive, or abusive acts or prac- the good work, passion, and the capac- Republicans remain committed to tices through strong implementation and en- forcement of Federal consumer financial laws. ity of dedicated staff.’’ bettering this organization of the (3) Before the Consumer Bureau was estab- The findings also opine that ‘‘the ap- CFPB. We will protect consumers, lished, Federal financial regulators were tasked pointment of Mr. Mulvaney aimed to while maximizing financial choice. We with the dual responsibilities of supervising in- diminish and undermine the mission of will work to advance solutions, not stitutions for safety and soundness and compli- the Consumer Bureau.’’ sound bites. It is my sincere hope that ance with consumer protections under Federal This is a highly suspect section of we can do that with cooperation from consumer financial laws. These agencies often legislation before this House. I don’t the majority. prioritized the profitability of their regulated think it is becoming of this House to I ask my colleagues to join me in op- entities over the protection of consumers, even when institutions were found to have engaged opine in this way. posing H.R. 1500, legislation that puts in practices detrimental to their own customers’ While Mick Mulvaney may be many politics first, not consumers. financial well-being. things, he is not inane nor is he Madam Chair, I yield back the bal- (4) Congress purposefully created the inde- anticonsumer. Now, I may say, jok- ance of my time. pendent Consumer Bureau within the Federal

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00014 Fmt 7634 Sfmt 6333 E:\CR\FM\K22MY7.024 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4083 Reserve System to address past regulatory gaps nancial products such as payday loans and pre- (C) politicizing the work of the Consumer Bu- in our country’s financial regulatory regime— paid cards that are prolific in communities of reau by making unusual efforts to fill the inde- gaps that resulted in the most severe global fi- color. The Consumer Bureau is essential in pro- pendent agency with political appointees; nancial crisis since the Great Depression. tecting vulnerable communities from discrimina- (D) reducing the Consumer Bureau’s enforce- Among other things, Federal financial regu- tory financial practices that has both perpet- ment work, including taking only six enforce- lators were too reluctant to exercise their rule- uated and exacerbated the racial wealth gap. ment actions in the first three quarters of 2018 making, supervisory, and enforcement authori- (6) Under Dodd-Frank, the Deputy Director of (compared with 54 enforcement actions taken by ties to protect consumers from the misdeeds of the Consumer Bureau shall serve as the Acting the agency in 2015, 42 enforcement actions in the Consumer Bureau’s regulated entities. In Director in the absence or unavailability of the 2016 and 36 enforcement actions in 2017), and creating the Consumer Bureau, Congress explic- Director, until the President appoints and the dropping existing lawsuits and investigations itly laid out in statute the Consumer Bureau’s Senate confirms a new Director. Despite the into predatory payday lenders; purpose, five objectives, and six primary func- plain letter of the law establishing a succession (E) taking steps that would undermine efforts tions. Specifically: order to fill a vacancy in the Director’s position to promote fair lending and combat discrimina- (A) Section 1021(a) of Dodd-Frank states that and the clear legislative history underscoring tory practices, including by hiring, and later re- the Consumer Bureau, ‘‘shall seek to implement the importance of having an independent Fed- fusing to remove, a political appointee with a and, where applicable, enforce Federal con- eral consumer-focused agency, when the Con- history of racist written commentary to oversee sumer financial law consistently for the purpose sumer Bureau Director Richard Cordray re- the Office of Supervision, Enforcement, and of ensuring that all consumers have access to signed in November 2017, President Trump re- Fair Lending, stripping away the enforcement markets for consumer financial products and fused to recognize the Deputy Director as the powers of the Office of Fair Lending and Equal services and that markets for consumer finan- rightful head of the agency and instead in- Opportunity, seeking to curb the Consumer Bu- cial products and services are fair, transparent, reau’s data collection under the Home Mortgage and competitive’’. stalled Mr. Mick Mulvaney, the Director of the White House Office of Management and Budget, Disclosure Act, and indicating the Consumer (B) Section 1021(b) of Dodd-Frank authorizes Bureau would reconsider its approach toward the Consumer Bureau, ‘‘to exercise its authori- to serve as the Consumer Bureau’s Acting Direc- tor. This appointment of a White House cabinet enforcing the Equal Credit Opportunity Act; ties under Federal consumer financial law for (F) changing the role of the Office of Students official to run the Consumer Bureau raises pro- the purposes of ensuring that, with respect to and Young Consumers and, according to an Au- found conflict of interest questions and under- consumer financial products and services—(1) gust 27, 2018, resignation letter from Seth mines the vital independent nature of the agen- consumers are provided with timely and under- Frotman, the Consumer Bureau’s former Assist- cy. standable information to make responsible deci- ant Director and Student Loan Ombudsman, sions about financial transactions; (2) con- (7) Additionally, the position of Acting Direc- ‘‘when new evidence came to light showing that sumers are protected from unfair, deceptive, or tor is, by its nature, intended to be a temporary the nation’s largest banks were ripping off stu- abusive acts and practices and from discrimina- assignment to maintain the status quo at an dents on campuses across the country by sad- tion; (3) outdated, unnecessary, or unduly bur- agency and to ensure the agency is fulfilling its dling them with legally dubious account fees, densome regulations are regularly identified and statutory purpose and mandates, until the Bureau leadership suppressed the publication of addressed in order to reduce unwarranted regu- President appoints, and the Senate confirms a a report prepared by Bureau staff’’; latory burdens; (4) Federal consumer financial permanent Director. Nevertheless, during his (G) abandoning the accepted and efficient law is enforced consistently, without regard to tenure, Mr. Mulvaney instituted drastic and se- practice of having its examiners review, as part the status of a person as a depository institu- vere changes to the Consumer Bureau’s daily of their routine examinations, creditors’ compli- tion, in order to promote fair competition; and operations and priorities contrary to the agen- ance with the Military Lending Act in order to (5) markets for consumer financial products and cy’s statutory purpose and mandates. ensure the detection and assessment of risky ac- services operate transparently and efficiently to (8) The daily operations of a Federal agency tivities that could jeopardize vital protections facilitate access and innovation.’’. are guided by its official mission contained in its provided to active-duty servicemembers and (C) Section 1021(c) of Dodd-Frank establishes long-term strategic plan. The Consumer Bu- their families; the primary functions of the Consumer Bureau reau’s mission should embrace both the spirit (H) creating an Office of Cost Benefit Anal- to be, ‘‘(1) conducting financial education pro- and plain letter of the law by fully recognizing ysis that prioritizes businesses’ expenses over grams; (2) collecting, investigating, and re- the agency’s statutory purpose, objectives, and harm caused to consumers, and unduly con- sponding to consumer complaints; (3) collecting, functions. It is troubling that the Consumer Bu- strains oversight of the Consumer Bureau’s reg- researching, monitoring, and publishing infor- reau, under Mr. Mulvaney, issued a Strategic ulated entities; mation relevant to the functioning of markets Plan for Fiscal Year (‘‘FY’’) 2018–FY 2022 that (I) freezing data collection to the detriment of for consumer financial products and services to appears to deemphasize the Consumer Bureau’s supervision and enforcement; identify risks to consumers and the proper func- core mandate under section 1021(a) of Dodd- (J) seeking to block the publication of the na- tioning of such markets; (4) subject to sections Frank to, ‘‘enforce Federal consumer financial ture of consumers’ complaints and how entities 1024 through 1026, supervising covered persons law consistently for the purpose of ensuring resolved them in the publicly available and for compliance with Federal consumer financial that all consumers have access to markets for transparent Consumer Complaint Database; law, and taking appropriate enforcement action consumer financial products and services’’, by (K) restricting key input and feedback from a to address violations of Federal consumer finan- not referencing the importance of enforcement wide range of external stakeholders by effec- cial law; (5) issuing rules, orders, and guidance in its mission. Instead, it emphasizes financial tively terminating members’ positions on three implementing Federal consumer financial law; education by stating that the agency’s new mis- advisory boards, including the statutorily man- and (6) performing such support activities as sion is, ‘‘[t]o regulate the offering and provision dated Consumer Advisory Board; may be necessary or useful to facilitate the of consumer financial products or services under (L) proposing policies, including those regard- other functions of the Bureau.’’. the Federal consumer financial laws and to edu- ing no-action letters, model disclosure pilot (5) In doing so, Congress explicitly laid out cate and empower consumers to make better in- projects, and product sandboxes, that could put these consumer-focused purpose, objectives, and formed financial decisions’’. This is in stark many kinds of financial institutions in an en- primary functions for the Consumer Bureau to contrast from the Consumer Bureau’s Strategic forcement-free zone, letting bad actors that ensure that all consumers and all communities Plan for FY 2013–FY 2017, which stated that the harm consumers off the hook entirely from en- are protected. This is of extreme importance to agency’s mission is helping, ‘‘consumer finance forcement, and allowing them to ignore the law; communities of color who have been dispropor- markets work by making rules more effective, by and tionately impacted by the inequities of the fi- consistently and fairly enforcing those rules, (M) neglecting to impose promptly any civil nancial system, resulting in an extreme racial and by empowering consumers to take more con- money penalty on a bank when it was found to wealth divide. Decades of segregation and dis- trol over their economic lives’’ (emphasis added). be, among other things, improperly obtaining crimination have prevented consumers of colors consumer reports and furnishing to consumer (9) Mr. Mulvaney has been praised by the from amassing wealth equal to their white coun- reporting agencies inaccurate information about White House for his efforts to undermine the terparts, while predatory financial practices of consumers’ credit. have stripped consumers of color of their nomi- Consumer Bureau, with one anonymous advisor (10) The repeated efforts under Mr. nal existing wealth. For example, over the past acknowledging in a July 24, 2018, Politico article Mulvaney’s leadership to hamstring the good 30 years, the average wealth of White families that, ‘‘His mission was to blow that up, which work, passion, commitment, and the capacity of has grown by 84 percent—1.2 times the rate of he has. He is very well-suited to the chaos.’’. dedicated professional, career Consumer Bureau growth for the Latino population and three Mr. Mulvaney’s misguided actions have in- staff to fulfill the agency’s statutory mission has times the rate of growth for the Black popu- cluded, among other things— likely contributed to low employee morale. Ac- lation. In light of historical practices and cur- (A) stopping payments from the Civil Penalty cording to a government-wide annual survey rent-day disparities in banking and lending Fund to harmed consumers; published in December 2018 that was conducted practices, the Consumer Bureau plays a key role (B) trying to reduce the Consumer Bureau’s by the nonprofit, nonpartisan Partnership for in protecting communities of color from wealth- funding and staffing by initially requesting $0 Public Service, the Consumer Bureau experi- stripping financial products and ensuring their be transferred from the Federal Reserve Board enced the largest decline in employee morale for right to wealth building opportunities. The of Governors to carry out the agency’s work, im- a government agency of its size. A workplace agency’s enforcement actions in auto lending, posing a freeze on hiring professional career with low morale undermines, among other mortgages, and credit cards, and its rulemaking staff, and by arbitrarily directing staff to cut things, the agency’s ability to hold bad actors efforts have sought to address the predatory fi- the agency’s budget by 1⁄5; accountable when they harm consumers, and if

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00015 Fmt 7634 Sfmt 6333 E:\CR\FM\A22MY7.007 H22MYPT1 H4084 CONGRESSIONAL RECORD — HOUSE May 22, 2019 unaddressed, will distort the functioning of fair the agency being transparent, timely, and re- have occurred at this agency since the depar- and competitive consumer marketplaces. sponsive to all requests from Congress. ture of former Director Cordray in November (11) Despite the fact that the agency has been (2) Dodd-Frank underscores that the agency 2017, particularly since detailed information re- referred to as the Consumer Financial Protec- is designed to serve as an independent Federal vealing the full scope, nature, and extent of the tion Bureau since it was created in 2010, Mr. agency that is primarily focused on the protec- current flawed operation of the agency, and the Mulvaney opted to change the agency’s well- tion of all consumers, without any undue influ- adverse impact resulting from these actions, may known name. Although this decision is sup- ence of partisan whims and special industry in- not yet be publicly available. Rather, this legis- posedly intended to ensure that the agency is in terests, in carrying out its responsibilities and lation should be interpreted as an attempt to compliance with Dodd-Frank, when this change duties. highlight and resolve a small sample of the pub- is viewed in conjunction with the other detri- (3) The official name of the agency should be licly known egregious statements, decisions, and mental actions to undermine the effectiveness of consistent with this mandate, and the agency actions that have occurred since November 2017. should, figuratively and literally, put ‘‘Con- the agency, it can only be interpreted as an at- SEC. 3. CONSUMER FINANCIAL PROTECTION BU- tempt to reduce the public’s awareness of, and sumers’’ first by using its better-known name as REAU. the ‘‘Consumer Financial Protection Bureau’’. significant support for, the agency’s role as the (a) IN GENERAL.—Section 1011(a) of the Con- Thus, any remaining utilization by the agency top Federal consumer cop as well as to obscure sumer Financial Protection Act of 2010 (12 of the name, ‘‘Bureau of Consumer Financial the public’s ability to easily identify the appro- U.S.C. 5491(a)) is amended by striking ‘‘Bureau Protection’’, or the acronym ‘‘BCFP’’, should priate Federal agency to contact when faced of Consumer Financial Protection’’ and insert- with predatory behavior by financial actors. As cease in all forms. (4) The statute establishing the Consumer Bu- ing ‘‘Consumer Financial Protection Bureau’’. such, while some may view this particular deci- reau has been grossly misinterpreted under Mr. (b) DEEMING OF NAME.—Any reference in any sion as minor, the action served as an important Mulvaney’s leadership, in a manner that is in- law, regulation, document, record, or other symbolic and literal maneuver by the Trump Ad- consistent with the agency’s statutory purpose, paper of the United States to the ‘‘Bureau of ministration, through its appointment of Mr. objectives, and functions. One example of this Consumer Financial Protection’’ shall be Mulvaney, to diminish and undermine the con- was Mr. Mulvaney’s inane suggestion that the deemed a reference to the ‘‘Consumer Financial sumer-focused mission of the Consumer Bureau. statutory requirement for the Director to appear Protection Bureau’’. Director Kathy Kraninger, who was duly nomi- before relevant Congressional Committees to dis- (c) NAME USE REQUIREMENT.—Section 1011 of nated by the President and confirmed by the cuss its semi-annual reports could be interpreted the Consumer Financial Protection Act of 2010 Senate, announced plans in an email to staff on as requiring the Director merely to attend a (12 U.S.C. 5491) is amended by adding at the end December 19, 2018, to reverse course and return hearing and not answer questions, despite the the following: to utilizing the agency’s well-known name. well-established interpretation of a similar stat- ‘‘(f) NAME USE REQUIREMENT.—The Consumer However, questions remain regarding how this utory requirement for the Chair of the Federal Financial Protection Bureau shall refer to itself change will be implemented and to what extent Reserve Board of Governors to appear before the in any public communication, including on any the agency may continue to utilize Mr. House Financial Services Committee and the website, as the ‘Consumer Financial Protection Mulvaney’s preferred name in certain cir- Senate Banking, Housing, and Urban Affairs Bureau’ or the ‘CFPB’.’’. cumstances. Committee on a semi-annual basis about the SEC. 4. CONFORMING AMENDMENTS. (12) During Mr. Mulvaney’s more than 12- monetary policy report, as required by the Hum- (a) IN GENERAL.—The Acts and provisions de- month tenure running the agency, he only ap- phrey-Hawkins Full Employment Act. In the scribed under subsection (b) are amended by peared once before the House Financial Services face of such blatant and disrespectful attempts striking ‘‘Bureau of Consumer Financial Protec- Committee to discuss his activities at the Con- to warp the authorizing and oversight role of tion’’ each place such term appears (including sumer Bureau. This is despite the fact that the the first branch of the Federal Government—the in headings and items in table of contents) and law requires, at a minimum, the Director’s testi- United States Congress—by the Trump Adminis- inserting ‘‘Consumer Financial Protection Bu- mony before the Committee semi-annually. This tration, Congress must, in this instance, now re- reau’’. weak congressional oversight under the direc- fine the Consumer Bureau’s authority to ensure (b) ACTS TO CONFORM.—The Acts and provi- tion of the previous Republican Majority pales that the vital role that the Consumer Bureau sions described in this subsection are as follows: in comparison to their oversight of the Con- should be playing within the country’s financial (1) The Alternative Mortgage Transaction sumer Bureau during former Director Richard regulatory regime is not effectively destroyed by Parity Act of 1982 (12 U.S.C. 3801 et seq.). Cordray’s tenure. During Director Cordray’s the agency’s current leadership. (2) The Consumer Credit Protection Act (15 tenure, he and other senior Consumer Bureau (5) The Consumer Bureau, now under a new U.S.C. 1601 et seq.). officials testified before Congress more than 60 Director, should promptly reverse all anti-con- (3) The Dodd-Frank Wall Street Reform and times; the agency was compelled to produce sumer actions taken during Mr. Mulvaney’s ten- Consumer Protection Act (12 U.S.C. 5301 et seq.). more than 200,000 pages of documents in re- ure, including the actions identified by this leg- (4) The Expedited Funds Availability Act (12 sponse to over 90 letters of inquiry; more than 20 islation, to ensure that the agency is fully com- U.S.C. 4001 et seq.). subpoenas were sent to the Consumer Bureau; plying with its statutory purpose, objectives, (5) The Federal Deposit Insurance Act (12 and several of the Consumer Bureau’s former and functions to protect all consumers, includ- U.S.C. 1811 et seq.). and current employees were compelled to sit for ing communities of color and vulnerable popu- (6) The Federal Financial Institutions Exam- depositions over 21 days, that lasted 136 hours, lations. One important action is for the Con- ination Council Act of 1978 (12 U.S.C. 3201 et and produced 3,194 pages of transcripts. sumer Bureau to resume robust fair lending en- seq.). (13) Dodd-Frank gives the Director of the forcement to ensure that every consumer has (7) The Financial Institutions Reform, Recov- Consumer Bureau broad administrative and ex- fair and equal access to affordable financial ery, and Enforcement Act of 1989 (12 U.S.C. 1811 ecutive powers to, among other things: fix the products and services. Another demonstration of note et seq.). number of, and appoint and direct, all employ- this would be for the Consumer Bureau to imme- (8) The Financial Literacy and Education Im- ees of the agency; direct the establishment and diately resume supervision of its regulated enti- provement Act (20 U.S.C. 9701 et seq.). maintenance of divisions or other offices within ties for compliance with the Military Lending (9) Section 626 of the Financial Services and the agency; determine the character of, and the Act to ensure for the most robust and efficient General Government Appropriations Act, 2009 necessity for, the obligations and expenditure of protection of active-duty servicemembers and (Division D of Public Law 111–8; 12 U.S.C. 5538). funds; and the use and expenditure of funds. their families. Other examples include the Con- (10) The Gramm-Leach-Bliley Act (12 U.S.C. These powers, however, are required to be exer- sumer Bureau significantly revising its strategic 1811 note et seq.). cised in a manner consistent with carrying out plan to align it with its statutory purpose, ob- (11) The Home Mortgage Disclosure Act of the responsibilities under Title X of Dodd- jectives and functions, and for the agency to im- 1975 (12 U.S.C. 2801 et seq.). Frank, which includes complying with the enu- mediately resume coordinating closely with (12) Section 10(a)(4) of the Homeowners Pro- merated Federal consumer financial laws under other Federal agencies, such as the Department tection Act of 1998 (12 U.S.C. 4901 et seq.). the Title, and satisfying the obligations in other of Education and the Department of Defense, (13) The Inspector General Act of 1978 (5 applicable laws. Mr. Mulvaney’s destructive ac- and State regulators, as is required by section U.S.C. App 2). tions have demonstrated the need for legislation 1015 of Dodd-Frank to, ‘‘promote consistent reg- (14) The Interstate Land Sales Full Disclosure to reorient the Director’s discretionary authority ulatory treatment of consumer financial and in- Act (15 U.S.C. 1701 et seq.). to ensure the maintenance of all statutorily vestment products and services.’’ (15) The Real Estate Settlement Procedures mandated policies, functions, and offices of the (6) While the legislation is a direct response to Act of 1974 (12 U.S.C. 2601 et seq.). Consumer Bureau regardless of who is leading address many of the misguided decisions that (16) Title LXII of the Revised Statutes of the the agency. have been orchestrated under Mr. Mulvaney’s United States (12 U.S.C. 21 et seq.). (b) SENSE OF CONGRESS.—The following is the leadership at the Consumer Bureau that have (17) The Right to Financial Privacy Act of sense of Congress: been exposed to the public, as of the date of the 1978 (12 U.S.C. 3401 et seq.). (1) The Consumer Financial Protection Bu- bill’s introduction, and sharply criticized by nu- (18) The S.A.F.E. Mortgage Licensing Act of reau should meet its statutory purpose in a merous Federal and State officials, including 2008 (12 U.S.C. 5101 et seq.). transparent and accountable manner by oper- law enforcement, as well as organizations rep- (19) The Telemarketing and Consumer Fraud ating in a way that is consistent with both the resenting servicemembers, senior citizens, and and Abuse Prevention Act (15 U.S.C. 6101 et spirit and plain letter of the law. This includes other vulnerable consumer populations, this leg- seq.). the agency fully carrying out the agency’s stat- islation should not be viewed as an exhaustive (20) Sections 552a(w) and 3132(a)(1)(D) of title utory purpose, objectives, and functions, and list to fix all the damaging actions that may 5, United States Code.

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(21) Section 987(g)(3)(E) of title 10, United ports of the Bureau with respect to information ‘‘(i) ADDITIONAL REPORT INFORMATION ON States Code. contained in the database, shall be provided in CONSUMER SAVINGS.—In issuing each report re- (22) Sections 3502(5) and 3513(c) of title 44, each of the 5 most commonly spoken languages, quired under section 502(d) of the Credit CARD United States Code. other than English, in the United States, as de- Act of 2009, the Bureau shall include a numer- SEC. 5. EXECUTIVE AND ADMINISTRATION POW- termined by the Bureau of the Census on an on- ical estimate of the amount that such Act has ERS. going basis, and in formats accessible to individ- saved consumers in fees impacted by such Act, (a) OFFICE RESPONSIBILITIES.—Section 1012 of uals with hearing or vision impairments.’’; and relative to the level of such fees prior to the en- the Consumer Financial Protection Act of 2010 (B) by adding at the end the following: actment of such Act.’’. (12 U.S.C. 5492) is amended— ‘‘(E) PUBLIC AVAILABILITY OF INFORMATION.— SEC. 6. OFFICES OF THE CONSUMER FINANCIAL (1) by redesignating subsection (c) as sub- ‘‘(i) IN GENERAL.—The Director shall— PROTECTION BUREAU. section (d); and ‘‘(I) make all consumer complaints available (a) CLARIFICATION OF THE DUTIES OF THE OF- (2) by inserting after subsection (b) the fol- to the public on a website of the Bureau; FICE OF FAIR LENDING AND EQUAL OPPOR- lowing: ‘‘(II) place a clear and conspicuous hyperlink TUNITY.—Section 1013(c)(2) of the Consumer Fi- ‘‘(c) OFFICE RESPONSIBILITIES.—Notwith- on the landing page of the main website of the nancial Protection Act of 2010 (12 U.S.C. standing subsections (a) and (b), section 1013(a), Bureau to the website described under subclause 5493(c)(2)) is amended— and any other provision of law, with respect to (I); and (1) by striking ‘‘Office of Fair Lending and the specific functional units and offices de- ‘‘(III) ensure that such website— Equal Opportunity shall have such powers and scribed under subsections (b), (c), (d), (e), (g), ‘‘(aa) is searchable and sortable by both con- duties as the Director may delegate to the Of- and (h) of section 1013 and the advisory boards sumer financial product or service and by cov- fice, including’’ and inserting ‘‘powers and du- described under section 1014, the Director— ered person; and ties of the Office of Fair Lending and Equal Op- ‘‘(1) shall ensure that such functional units, ‘‘(bb) is user-friendly and written in plain portunity shall include’’; offices, and boards perform the functions, du- language. (2) in subparagraph (C), by striking ‘‘and’’ at ties, and coordination assigned to them under ‘‘(ii) INCLUSION OF COMPLAINTS SUBMITTED the end; the applicable provision of section 1013 or 1014; WITH INQUIRIES.—For purposes of clause (i), in (3) in subparagraph (D), by striking the pe- and addition to all complaints described under sub- riod and inserting a semicolon; and ‘‘(2) may not reorganize or rename such units, paragraph (A), consumer complaints shall in- (4) by adding at the end the following: offices, and boards in a manner not provided for clude any complaints submitted with, or as part ‘‘(E) implementing the Bureau’s enforcement under the applicable provision of section 1013 or of, an inquiry described under section 1034. and supervisory authority with respect to fair 1014.’’. ‘‘(iii) REMOVAL OF PERSONALLY IDENTIFIABLE lending laws; and (b) DUTY TO PROVIDE ADEQUATE STAFFING.— INFORMATION.—In making the information de- ‘‘(F) such additional powers and duties as the Section 1013(a)(1) of the Consumer Financial scribed under clause (i) available to the public, Director may determine appropriate.’’. Protection Act of 2010 (12 U.S.C. 5493(a)(1)) is the Director shall remove all personally identifi- (b) OFFICE OF STUDENTS AND YOUNG CON- amended by adding at the end the following: able information.’’. SUMERS.— ‘‘(D) DUTY TO PROVIDE ADEQUATE STAFFING.— (2) RULE OF CONSTRUCTION.— (1) IN GENERAL.—Section 1013 of the Consumer The Director shall ensure that the specific func- (A) IN GENERAL.—The Director of the Con- Financial Protection Act of 2010 (12 U.S.C. tional units and offices described under sub- sumer Financial Protection Bureau shall en- 5493), as amended by section 5(f), is further sections (b), (c), (d), (e), (g), and (h) of section sure— amended by adding at the end the following: 1013, as well as other units and offices with su- (i) that the database and website described ‘‘(j) OFFICE OF STUDENTS AND YOUNG CON- pervisory and enforcement duties, are provided under section 1013(b)(3) of the Consumer Finan- SUMERS.— with sufficient staff to carry out the functions, cial Protection Act of 2010 have, at a minimum, ‘‘(1) IN GENERAL.—The Director shall, not duties, and coordination of those units and of- the same availability, transparency, and later than the end of the 60-day period begin- fices.’’. functionality that such database and website ning on the date of enactment of this section, (c) LIMITATION ON POLITICAL APPOINTEES.— had prior to November 24, 2017; and establish an Office of Students and Young Con- Section 1013(a)(1) of the Consumer Financial (ii) that consumers are able, at a minimum, to sumers, which shall work to empower students, Protection Act of 2010 (12 U.S.C. 5493(a)(1)) is submit complaints to the Bureau with respect young people, and their families to make more amended by adding at the end the following: to— informed financial decisions about saving and ‘‘(E) LIMITATION ON POLITICAL APPOINTEES.— (I) any covered person or service provider; and paying for college, accessing safer and more af- ‘‘(i) IN GENERAL.—In appointing employees of (II) any financial product or service. fordable financial products and services, all the Bureau who are political appointees, the Di- (B) DEFINITIONS.—For purposes of this para- matters related to private education loans (as rector shall ensure that the number and duties graph, the terms ‘‘covered person’’, ‘‘financial defined under section 1035(e)), and repaying of such political appointees are as similar as product or service’’, and ‘‘service provider’’ student loan debt, including private education possible to those of the other Federal primary fi- have the meaning given those terms, respec- loans. nancial regulatory agencies. tively, under section 1002 of the Consumer Fi- ‘‘(2) HEAD OF THE OFFICE.—The head of the ‘‘(ii) POLITICAL APPOINTEES DEFINED.—For nancial Protection Act of 2010. Office of Students and Young Consumers shall purposes of this subparagraph, the term ‘polit- (e) MEMORANDA OF UNDERSTANDING.— be the Assistant Director and Student Loan Om- ical appointee’ means an employee who holds— (1) REPORT ON CURRENT MOUS.—Not later than budsman, and the Assistant Director and Stu- ‘‘(I) a position which has been excepted from the end of the 30-day period beginning on the dent Loan Ombudsman shall carry out all func- the competitive service by reason of its confiden- date of enactment of this Act, the Director of tions established under section 1035 through the tial, policy-determining, policy-making, or pol- the Consumer Financial Protection Bureau Office of Students and Young Consumers. icy-advocating character; shall issue a report to the Committee on Finan- ‘‘(3) SUPERVISORY, ENFORCEMENT, AND REGU- ‘‘(II) a position in the Senior Executive Serv- cial Services of the House of Representatives LATORY MATTERS.—The Office of Students and ice as a noncareer appointee (as such term is de- and the Committee on Banking, Housing, and Young Consumers shall assist in all supervisory, fined in section 3132(a) of title 5, United States Urban Affairs of the Senate listing— enforcement, and regulatory matters of the Bu- Code); or (A) each memorandum of understanding in ef- reau related to the functions of the Office. ‘‘(III) a position under the Executive Schedule fect with the Bureau on November 24, 2017; ‘‘(4) COORDINATION.—The Director shall enter (subchapter II of chapter 53 of title 5, United (B) any changes made to such a memorandum into memoranda of understanding and similar States Code).’’. of understanding since such date, including any agreements with the Department of Education (d) PUBLIC AVAILABILITY OF COMPLAINT IN- memorandum of understanding rescinded since and other Federal and State agencies, as appro- FORMATION.— such date; and priate, in order to carry out the business of the (1) IN GENERAL.—Section 1013(b)(3) of the (C) a justification for each such change or re- Office of Students and Young Consumers.’’. Consumer Financial Protection Act of 2010 (12 scission. (2) RENAMING AND APPOINTMENT CLARIFICA- U.S.C. 5493(b)(3)) is amended— (2) SEMI-ANNUAL REPORT ON MOUS.—Section TION OF THE PRIVATE EDUCATION LOAN OMBUDS- (A) in subparagraph (A)— 1016(c) of the Consumer Financial Protection MAN.— (i) by inserting ‘‘publicly available’’ before Act of 2010 (12 U.S.C. 5496(c)) is amended— (A) IN GENERAL.—Section 1035 of the Con- ‘‘website’’; (A) in paragraph (8), by striking ‘‘and’’ at the sumer Financial Protection Act of 2010 (12 (ii) by inserting ‘‘publicly available’’ before end; U.S.C. 5535) is amended— ‘‘database’’, each place such term appears; and (B) in paragraph (9), by striking the period (i) in the heading of the section by striking (iii) by adding at the end the following: ‘‘The and inserting a semicolon; and ‘‘PRIVATE EDUCATION’’ and inserting ‘‘ASSISTANT Director shall ensure that the landing page of (C) by adding at the end the following: DIRECTOR AND STUDENT’’; the main website of the Bureau contains a clear ‘‘(10) a list of each memorandum of under- (ii) in subsection (a), by striking ‘‘The Sec- and conspicuous hyperlink to the consumer standing in effect with the Bureau, any changes retary, in consultation with the Director, shall complaint database described in this subpara- made to a memorandum of understanding since designate a Private Education Loan Ombuds- graph and shall ensure that such database is the last report was made under subsection (b), man’’ and inserting ‘‘The Director shall des- user-friendly and in plain writing (as such term and a justification for each such change;’’. ignate an individual as the Assistant Director is defined in the Plain Writing Act of 2010). The (f) ADDITIONAL REPORT INFORMATION ON CON- and Student Loan Ombudsman’’; Director shall ensure that all information on the SUMER SAVINGS.—Section 1013 of the Consumer (iii) in subsection (b), by striking ‘‘The Sec- website or the database that explains how to file Financial Protection Act of 2010 (12 U.S.C. 5493) retary and the Director’’ and inserting ‘‘The Di- a complaint with the Bureau, as well as all re- is amended by adding at the end the following: rector’’; and

VerDate Sep 11 2014 04:08 May 23, 2019 Jkt 089060 PO 00000 Frm 00017 Fmt 7634 Sfmt 6333 E:\CR\FM\A22MY7.007 H22MYPT1 H4086 CONGRESSIONAL RECORD — HOUSE May 22, 2019 (iv) in subsection (d)(2), by inserting ‘‘the Di- (B) by adding at the end the following: ‘‘The ment, and shall not be subject to a de- rector,’’ before ‘‘the Secretary,’’. Bureau shall provide adequate notice to the mand for division of the question. (B) CLERICAL AMENDMENT.—The table of con- members of the Consumer Advisory Board of the AMENDMENT NO. 1 OFFERED BY MS. VELA´ ZQUEZ tents under section 1(b) of the Dodd-Frank Wall time and date of each meeting, and of any meet- Street Reform and Consumer Protection Act is ing cancellations.’’ The Acting CHAIR. It is now in order amended, in the item relating to section 1035, by (b) INCLUSION OF THE DIRECTOR IN MEETINGS to consider amendment No. 1 printed in striking ‘‘Private education’’ and inserting ‘‘As- AND ACCESS TO BUREAU STAFF.—Section 1014 of part A of House Report 116–79. sistant director and student’’. the Consumer Financial Protection Act of 2010 Ms. VELA´ ZQUEZ. Madam Chair, I (C) DEEMING OF NAME.—Any reference in any (12 U.S.C. 5494) is amended by adding at the end have an amendment at the desk. law, regulation, document, record, or other the following: The Acting CHAIR. The Clerk will paper of the United States to the ‘‘Private Edu- ‘‘(e) INCLUSION OF THE DIRECTOR IN MEETINGS designate the amendment. cation Loan Ombudsman’’ shall be deemed a AND ACCESS TO BUREAU STAFF.—With respect to The text of the amendment is as fol- reference to the ‘‘Assistant Director and Student each in person meeting of the Consumer Advi- Loan Ombudsman’’. sory Board— lows: (c) SEMI-ANNUAL REPORT TO CONGRESS ON ‘‘(1) the Director shall attend such meeting in Page 40, after line 8, insert the following: CERTAIN OFFICES OF THE BUREAU.—Section person; and SEC. 9. MODIFICATION OF THE EXEMPTION FROM 1016(c) of the Consumer Financial Protection ‘‘(2) the Director shall ensure that the mem- CERTAIN DISCLOSURE REQUIRE- Act of 2010 (12 U.S.C. 5496(c)), as amended by bers of the Consumer Advisory Board have an MENTS. section 5(e)(2), is further amended by adding at opportunity to meet and engage in person with (a) IN GENERAL.—Section 304 of the Home the end the following: all appropriate staff and office of the Bureau.’’. Mortgage Disclosure Act of 1975 (12 U.S.C. ‘‘(11) with respect to each of the specific func- (c) TREATMENT OF MEMBERS OF THE CON- 2803) is amended— tional units and offices established under sec- SUMER ADVISORY BOARD.—Notwithstanding any (1) by striking subsection (i) and inserting tion 1013— other law— the following: ‘‘(A) a detailed description of the activities of (1) any member of the Consumer Advisory ‘‘(i) EXEMPTION FROM CERTAIN DISCLOSURE the unit or office since the last report was made Board of the Consumer Financial Protection REQUIREMENTS.—The requirements of para- under subsection (b); and Bureau on November 1, 2017, may continue to graphs (4), (5), and (6) of subsection (b) shall ‘‘(B) an analysis of the efforts of the Bureau serve as a member of such advisory board until not apply with respect to any depository in- to achieve the duties of the unit or office; and March 27, 2020, and may not be removed from stitution described in section 303(3)(A) that ‘‘(12) with respect to each specific functional such position without cause by the Director of has total assets, as of the most recent full units and offices established under section 1013, the Bureau until such date; and fiscal year of the institution, of $30,000,000 or as well as each other unit and office with super- (2) any member of the Consumer Advisory less.’’; and visory and enforcement duties, a break down of Board of the Consumer Financial Protection (2) by striking subsection (o). the number of political and professional career Bureau on the date of enactment of this Act, (b) TECHNICAL AND CONFORMING AMEND- staff assigned to and employed by each unit or may continue to serve as a member of such advi- MENT.—Section 104 of the Economic Growth, office at the end of the reporting period.’’. sory board until March 27, 2020, and may not be Regulatory Relief, and Consumer Protection (d) FUNCTION OF ANY UNIT OR OFFICE ESTAB- removed from such position without cause by Act (Public Law 115–174; 132 Stat. 1301) is LISHED TO CONDUCT COST BENEFIT ANALYSIS.— the Director of the Bureau until such date. amended by striking subsection (b). Any unit or office established to conduct cost (d) ADDITIONAL REQUIREMENTS FOR ADVISORY SEC. 10. LIMITATION ON PROVIDING EXEMP- benefit analysis within the Consumer Financial COMMITTEES.—Section 1013 of the Consumer Fi- TIONS FROM HMDA REPORTING RE- Protection Bureau shall, as its sole function, nancial Protection Act of 2010 (12 U.S.C. 5493), QUIREMENTS. carry out the considerations required by section as amended by section 6(b)(1), is further amend- Section 1027 of the Consumer Financial 1022(b)(2)(A) of the Consumer Financial Protec- ed by adding at the end the following: Protection Act (12 U.S.C. 5517) is amended by tion Act of 2010 (12 U.S.C. 5512(b)(2)(A)). ‘‘(k) ADVISORY COMMITTEE REQUIREMENTS.— adding at the end the following: ‘‘(t) LIMITATION ON PROVIDING EXEMPTIONS SEC. 7. CONSUMER ADVISORY BOARD REFORMS. ‘‘(1) QUALIFICATIONS.—In appointing members FROM HMDA REPORTING REQUIREMENTS.— (a) IN GENERAL.—Section 1014 of the Con- of any advisory committee, other than the Con- sumer Advisory Board, the Director shall ensure Notwithstanding any provision of this title sumer Financial Protection Act of 2010 (12 or the Home Mortgage Disclosure Act of 1975, U.S.C. 5494) is amended— that at least 1⁄3 of the members represent the in- terests of consumers, including experts in con- the Bureau may not provide any person with (1) by amending subsection (b) to read as fol- an exemption from complying with any re- lows: sumer protection, fair lending, civil rights, and representatives of communities that have been porting requirements under the Home Mort- ‘‘(b) MEMBERSHIP.— gage Disclosure Act of 1975 if such exemption ‘‘(1) QUALIFICATIONS.—In appointing the significantly impacted by higher-priced mort- gage loans and other products that resulted in did not exist on the date of enactment of this members of the Consumer Advisory Board, the subsection.’’. Director shall— consumer harm. ‘‘(A) seek to assemble a diverse and inclusive ‘‘(2) SELECTION OF MEMBERS REPRESENTING MI- SEC. 11. LIMITATION ON MODIFYING HMDA DATA FIELDS. group of experts in consumer protection, finan- NORITY-OWNED AND WOMEN-OWNED BUSI- Section 1027 of the Consumer Financial cial services, community development, fair lend- NESSES.—In appointing members of any advisory Protection Act (12 U.S.C. 5517) is amended by ing and civil rights, and consumer financial committee, the Director shall seek to promote di- adding at the end the following: products or services and representatives of de- versity and inclusion in making appointments, ‘‘(t) LIMITATION ON MODIFYING HMDA DATA pository institutions that primarily serve under- including by appointing individuals who rep- FIELDS.—Notwithstanding any provision of served communities, and representatives of com- resent minority-owned and women-owned busi- this title or the Home Mortgage Disclosure munities that have been significantly impacted nesses.’’. Act of 1975, the Bureau may not eliminate, by higher-priced mortgage loans, and seek rep- SEC. 8. DISCRETIONARY SURPLUS FUNDS. with respect to the reporting requirements resentation of the interests of covered persons Section 7(a)(3)(A) of the Federal Reserve Act under the Home Mortgage Disclosure Act of and consumers, without regard to party affili- (12 U.S.C. 289(a)(3)(A)) is amended by striking 1975, any data fields that were required to be ation; and ‘‘$6,825,000,000’’ and inserting ‘‘$6,797,000,000’’. reported on the date of enactment of this ‘‘(B) ensure that at least 2⁄3 of the members SEC. 9. EFFECTIVE DATE. subsection.’’. represent the interests of consumers, including This Act and the amendments made by this experts in consumer protection, fair lending, SEC. 12. MAINTAINING THE HMDA EXPLORER Act shall take effect on the date of the enact- TOOL AND THE PUBLIC DATA PLAT- civil rights, and representatives of communities ment of this Act, except that the Director of the FORM API. that have been significantly impacted by higher- Consumer Financial Protection Bureau shall The Consumer Financial protection Bureau priced mortgage loans and other products that have 30 days to complete any operational may not retire the HMDA Explorer tool or resulted in consumer harm. changes to the Bureau required by this Act or the Public Data Platform API. ‘‘(2) NUMBER OF MEMBERS.—The Director an amendment made by this Act. Page 40, line 9, strike ‘‘SEC. 9’’ and insert shall appoint not fewer than 25 members to the ‘‘SEC. 13’’. Consumer Advisory Board, and not fewer than The Acting CHAIR. No further 6 members shall be appointed upon the rec- amendment to the bill, as amended, The Acting CHAIR. Pursuant to ommendation of the regional Federal Reserve shall be in order except those printed House Resolution 389, the gentlewoman Bank Presidents, on a rotating basis. in part A of House Report 116–79. Each from New York (Ms. VELA´ ZQUEZ) and a ‘‘(3) MEMBERSHIP RIGHTS AFTER CHARTER such further amendment may be of- Member opposed each will control 5 CHANGE.—Any change to the charter for the fered only in the order printed in the minutes. Consumer Advisory Board affecting the member- report, by a Member designated in the The Chair recognizes the gentle- ship shall not preclude prior or current members report, shall be considered read, shall woman from New York. from applying for consideration to serve on a re- ´ constituted Consumer Advisory Board.’’; and be debatable for the time specified in Ms. VELAZQUEZ. Madam Chair, I (2) in subsection (c)— the report, equally divided and con- rise to offer this amendment to restore (A) by striking ‘‘meet from’’ and inserting trolled by the proponent and an oppo- and protect important provisions of the ‘‘meet in person from’’; and nent, shall not be subject to amend- Home Mortgage Disclosure Act.

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00018 Fmt 7634 Sfmt 0634 E:\CR\FM\A22MY7.007 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4087 More than four decades after Con- agreed upon by a bipartisan vote of The amendment was agreed to. gress passed HMDA, the evidence con- this House and the Senate and signed AMENDMENT NO. 2 OFFERED BY MR. STEIL tinues to suggest that racial minori- into law last Congress under S. 2155. A The Acting CHAIR. It is now in order ties, women, and some rural residents changed regulatory structure, still col- to consider amendment No. 2 printed in still face loan discrimination by mort- lecting the data. part A of House Report 116–79. gage lenders. The most important thing this bill Mr. STEIL. Madam Chair, I have an In fact, a recent report from the Cen- does, however, is it subjects small cred- amendment at the desk. ter for Investigative Reporting found it unions and small banks to a higher The Acting CHAIR. The Clerk will that modern-day redlining has oc- level of regulation than contemplated designate the amendment. curred in 61 metropolitan areas around under the new regulations and the new The text of the amendment is as fol- the country. law. lows: Unfortunately, however, last year We are rolling back to an older form, Strike section 2 and insert the following: Congress voted to roll back enhanced whereby community institutions, SEC. 2. STUDY AND REPORT ON THE OPERATIONS OF THE CONSUMER FINANCIAL PRO- HMDA protections passed under the small banks, and small credit unions TECTION BUREAU AND ITS EFFEC- Dodd-Frank Act, exempting 85 percent have been disproportionately disadvan- TIVENESS AT MEETING ITS STATU- of all banks and credit unions from re- taged in the mortgage marketplace. TORILY MANDATED OBLIGATIONS. porting loan characteristics vital to They have been given a higher regu- (a) STUDY.—The Comptroller General of ensuring lending fairness. latory burden, a higher cost structure, the United States shall carry out a study of— My amendment will reverse this which means that they are out of the (1) the effectiveness and efficiency of the shortsighted decision. It reinstates the home mortgage game. Consumer Financial Protection Bureau in requirement put in place by Dodd- The net effect of this amendment is meeting the Bureau’s statutorily mandated Frank that any bank or credit union that you will have small credit unions obligations; that makes more than 25 mortgage and small banks not being able to par- (2) the prevalence of discriminatory prac- loans per year or 100 home equity lines ticipate as fully as under existing regu- tices in lending; and of credit report detailed loan charac- lations in home mortgage making, and (3) the workplace rights of Bureau staff teristics. I think that is one of the deep flaws of since establishment of the Bureau. (b) REPORT.—Not later than 6 months after My amendment will establish addi- this amendment. the date of enactment of this Act, the Comp- tional safeguards to defend HMDA from Madam Chair, I urge my colleagues troller General shall issue a report to the further assault by the Trump adminis- to oppose this amendment, and I re- Consumer Financial Protection Bureau, the tration and those who seek to destroy serve the balance of my time. Committee on Financial Services of the it by: Ms. VELA´ ZQUEZ. Madam Chair, may House of Representatives, and the Com- Prohibiting the CFPB from making I inquire how much time I have re- mittee on Banking, Housing, and Urban Af- fairs of the Senate containing all findings further HMDA modifications to exempt maining. and determinations made in carrying out the additional institutions from complying The Acting CHAIR. The gentlewoman study required under subsection (a). with its reporting requirements; from New York has 2 minutes remain- The Acting CHAIR. Pursuant to Barring the CFPB from making fur- ing. House Resolution 389, the gentleman Ms. VELA´ ZQUEZ. Madam Chair, I ther modifications to eliminate HMDA from Wisconsin (Mr. STEIL) and a Mem- data fields that are otherwise required am ready to close. ber opposed each will control 5 min- to be collected and reported; and Madam Chair, more than 40 years utes. Preventing the CFPB from retiring after Congress first passed HMDA, the The Chair recognizes the gentleman its HMDA Explorer and the public data evidence continues to demonstrate from Wisconsin. platform, both of which are critical to that countless Americans still face the public’s ability to access loan level loan discrimination by mortgage lend- b 1330 data and root out discrimination in ers. Mr. STEIL. Madam Chair, the Con- their communities. Data is the tool that makes it pos- sumer Financial Protection Bureau has These protections are not just pre- sible to fight discrimination. My a duty to the American people. ventive measures but needed reforms. amendment puts us back on the right Congress established the Bureau al- Just this month, the CFPB released track by ensuring this information re- most a decade ago to protect con- proposals to further erode HMDA re- mains available. sumers from abuse and empower people quirements. Madam Chair, I urge Members to sup- to make good financial choices, regard- The public’s access to mortgage data port this amendment, and I yield back less of who the President is. That is a is essential to promoting fair lending, the balance of my time. very important responsibility. With homeownership, and stronger commu- Mr. MCHENRY. Madam Chair, I yield that in mind, Chairwoman WATERS is nities. myself such time as I may consume. right to call attention to the govern- As the saying goes, sunlight is the I urge my colleagues to vote ‘‘no’’ on ance of the CFPB. CFPB actions and interpretations best disinfectant. My amendment this amendment. This rolls back to an can vary significantly from one admin- brings badly needed transparency to older form of regulation, not a new, istration to another, and because the the home mortgage process, shining a modern form of regulation. CFPB is unaccountable, there isn’t light and helping us root out discrimi- We still collect very important data much Congress can do about it. In fact, from mortgage makers, those that are nation. the Bureau was built to be unaccount- actually in the mortgage marketplace. Madam Chair, I reserve the balance able and unresponsive, and this has of my time. What we did was right-size our regula- given its Directors free rein to take ac- Mr. MCHENRY. Madam Chair, I tion so that small financial institu- tions that many of us do not support. claim the time in opposition to the tions like community banks and credit There are many ideas on both sides of amendment. unions could be in the mortgage mar- the aisle on how best to reform the The Acting CHAIR (Mrs. FLETCHER). ketplace once again. CFPB, and this is something Congress The gentleman from North Carolina is This amendment rolls back those re- should consider soon. recognized for 5 minutes. forms and hurts small community Today, I have an amendment. My Mr. MCHENRY. Madam Chair, this banks and hurts small credit unions in amendment sets aside the politically bill, this amendment, reinstates an a way that this body, I don’t think, charged findings in the bill and takes older form of regulation of HMDA data. wants to support. us one step closer to transparency and This is the data that is collected when Madam Chair, I urge my colleagues accountability. you have a home mortgage. It is re- to vote against this amendment, and I Some of these findings target former quired data. yield back the balance of my time. Acting Director Mick Mulvaney by Under the old regulation, there were The Acting CHAIR. The question is name. One disparages Mulvaney by ref- 48 pieces of data that had to be col- on the amendment offered by the gen- erencing a political article that in- lected. Under the new regulation, it is tlewoman from New York (Ms. cludes a critical quote from an anony- 23. That is a modest change that was VELA´ ZQUEZ). mous source. Another criticizes him for

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00019 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.028 H22MYPT1 H4088 CONGRESSIONAL RECORD — HOUSE May 22, 2019 rearranging the initials of the CFPB. Mulvaney stopped payments from the The Acting CHAIR. The gentleman Let me repeat that: Another criticizes Civil Penalty Fund to consumers who from Wisconsin has 11⁄2 minutes re- him for rearranging the initials of the were harmed, tried to reduce the Con- maining. CFPB. Only in Washington. sumer Financial Protection Bureau’s Mr. STEIL. Madam Chair, I yield My amendment strikes all of this funding and staffing, politicized the such time as he may consume to the unhelpful rhetoric and replaces it with work of the Consumer Financial Pro- gentleman from North Carolina (Mr. a requirement that the Comptroller tection Bureau by making unusual ef- MCHENRY). General conduct an independent study forts to fill the independent agency Mr. MCHENRY. Madam Chair, I focused on three key questions: One, is with political appointees, and reduced think the gentleman from Wisconsin the CFPB meeting its obligations effi- the Consumer Financial Protection Bu- has authored a very good amendment. ciently and effectively? Two, how prev- reau’s enforcement actions by 75 per- It is a constructive amendment in this alent are discriminatory lending prac- cent compared to the average annual legislative process to make a bad bill tices? Three, are the workplace rights number of enforcement actions from less bad. of CFPB staff respected? the previous 3 years. It strikes the findings sections, not The Comptroller General’s findings I mean, that is why it is terrible. the legislation contained therein. It is can then help to inform our continued That is why it is dangerous. Of par- the egregious findings and the person- efforts to oversee and reform the Bu- ticular concern, this amendment alities in the first 21 pages that the reau to make it work better for all strikes a direction to the Consumer Fi- gentleman removes and says we should Americans. nancial Protection Bureau to resume use the arm of Congress to look at Protecting consumers, examining the exams for compliance with the Mili- those findings of fact and to get a re- prevalence of discrimination, and pro- tary Lending Act, for our veterans, to port from the General Accountability tecting workplace rights should not be ensure that they are not ripped off by Office on those matters raised in the controversial. Ensuring effectiveness unscrupulous lenders. That practice is findings section. and transparent governance should not I urge my colleagues to support this heavy. be a source of partisan disagreement. very good amendment. I understand that the chairwoman is We just passed a bill in committee to Mr. STEIL. Madam Chair, I think the unhappy with the way the CFPB is gov- deal with mortgages that were churn- most important part here is that the erned. So am I. Anyone who has read ing, where predatory lenders were findings are the political rhetoric that about the past abuses at this unac- going in and churning, churning over we are looking to remove. This town countable agency should have concerns and over again, making our veterans has far too much political rhetoric. about the structure that enables this pay the same bill over and over again. I am willing to work with my col- bad behavior to exist in the first place. That is what your amendment would league to make this unaccountable en- Today’s amendment recognizes that take protections from. tity accountable to Congress in the Congress has a responsibility to ensure In January of this year, the Con- first place. I urge my colleagues to that the Bureau is fulfilling its mis- sumer Office of Servicemember Affairs, vote in favor of this amendment. sion, and that independent audit, not our veterans, reported that service- Madam Chair, I yield back the bal- political rhetoric, is the best way to member complaints and requests for ance of my time. move toward this goal. assistance have continued to increase The Acting CHAIR. The question is The American people deserve an un- over time. In fact, from 2016 to 2017, on the amendment offered by the gen- biased look at what the Bureau does there was a 47 percent increase in com- tleman from Wisconsin (Mr. STEIL). right and what it does wrong so we can plaints received from servicemembers. The question was taken; and the Act- find common ground on the best way to Nevertheless, the Consumer Finan- ing Chair announced that the noes ap- protect consumers. cial Protection Bureau under its cur- peared to have it. I urge my colleagues to support the rent director, Ms. Kathy Kraninger, is Mr. STEIL. Madam Chair, I demand a amendment. ignoring its own legal counsel and re- recorded vote. Madam Chair, I reserve the balance fuses to supervise banks for MLA com- The Acting CHAIR. Pursuant to of my time. pliance. clause 6 of rule XVIII, further pro- Mr. DAVID SCOTT of Georgia. During our March 7 hearing on the ceedings on the amendment offered by Madam Chair, I claim the time in oppo- Bureau, veteran Jennifer Davis from the gentleman from Wisconsin will be sition to the amendment. the National Military Family Associa- postponed. The Acting CHAIR. The gentleman is tion stated: ‘‘We have become alarmed AMENDMENT NO. 3 OFFERED BY MS. ADAMS recognized for 5 minutes. by the CFPB’s decision to no longer su- The Acting CHAIR. It is now in order Mr. DAVID SCOTT of Georgia. pervise lenders for compliance with the to consider amendment No. 3 printed in Madam Chair, this is a terrible amend- MLA. Current leadership has expressed part A of House Report 116–79. Ms. ADAMS. Madam Chair, I have an ment, and I want to take my time to the opinion that the agency does not amendment made in order by the rule, go through it so the American people explicitly have the authority to do su- and I ask for its consideration. can see how terrible this amendment pervisory examinations to ensure MLA The Acting CHAIR. The Clerk will is. compliance. We disagree.’’ The gentleman is a fine gentleman designate the amendment. and a good friend, and we work to- As Ms. Davis noted, Dodd-Frank The text of the amendment is as fol- gether. The amendment is what is ter- grants the Bureau executive and ad- lows: rible, not the gentleman. Let me tell ministrative authority in implementa- Page 24, beginning on line 9, strike ‘‘de- you why. tion of consumer financial laws scribed under subsections (b), (c), (d), (e), (g), This amendment would, number one, through rules, orders, guidance, inter- and (h) of section 1013’’ and insert ‘‘estab- do away with the important findings pretations, statements of policy, ex- lished under section 1013’’. Page 30, after line 19, insert the following: on the failures of the Consumer Finan- aminations, and enforcement actions. (3) REESTABLISHMENT OF MEMORANDA OF UN- cial Protection Bureau under Mick She has been joined by 38 military and veteran service organizations, a bipar- DERSTANDING.—The memoranda of under- Mulvaney that every American should standing between the Consumer Financial know about. I am going to take a few tisan coalition of 33 State attorneys Protection Bureau and the Department of minutes so the American people will general, as well as retired Army Colo- Education titled ‘‘Memorandum of Under- know about them. nel Paul Cantwell and the former head standing Between the Bureau of Consumer The amendment, which also removes of the Office of Servicemember Affairs, Financial Protection and the U.S. Depart- the direction from Congress to the Con- in disagreeing with the Bureau’s deci- ment of Education Concerning the Sharing sumer Financial Protection Bureau to sion. of Information’’ (October 19, 2011) and Madam Chair, I yield back the bal- ‘‘Memorandum of Understanding Concerning reverse its recent anticonsumer activi- Supervisory and Oversight Cooperation and ties, was rejected by all Democrats in ance of my time. Related Information Sharing Between the our committee markup. Mr. STEIL. Madam Chair, may I in- U.S. Department of Education and the Con- This amendment is trying to hide quire how much time is remaining on sumer Financial Protection Bureau’’ (Janu- from public view how Acting Director my side. ary 9, 2014)—

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00020 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.032 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4089 (A) shall remain in effect and may not be mantling, undermining, and weakening being crushed by a generation of debt. terminated by any party to such memo- the CFPB is not in our constituents’ So it is a deeply problematic amend- randa; and best interests. ment, not because it has an ill intent. (B) may only be amended or revised if the I thank Chairwoman WATERS for her The very issue that we are trying to parties to the memoranda determine that confront here is a very real one to such amendment or revision would promote leadership in restoring the CFPB to its better interagency coordination to the ben- original intent. these students, to their families, and to efit of consumers. Let’s do the right thing for the the lost prosperity and economic op- portunities that they are experiencing The Acting CHAIR. Pursuant to American people. I urge my colleagues because of the structure of this debt House Resolution 389, the gentlewoman to support my amendment to help stu- load and because of this Federalized from North Carolina (Ms. ADAMS) and a dent borrowers and to support H.R. 1500. approach to student lending. Member opposed each will control 5 Madam Chair, I ask my colleagues to minutes. Madam Chair, I reserve the balance of my time. reject this amendment, and I reserve The Chair recognizes the gentle- the balance of my time. Mr. MCHENRY. Madam Chair, I rise woman from North Carolina. Ms. ADAMS. Madam Chair, how in opposition to the amendment. Ms. ADAMS. Madam Chair, before much time do I have remaining? the Consumer Financial Protection Bu- The Acting CHAIR. The gentleman The Acting CHAIR. The gentlewoman reau, there was no Federal agency dedi- from North Carolina is recognized for 5 from North Carolina has 2 minutes re- cated to protecting consumers from minutes. maining. predatory and abusive practices, so I Mr. MCHENRY. Madam Chair, I Ms. ADAMS. Madam Chair, I appre- am grateful to my chair for bringing thank my colleague from North Caro- ciate the comments from my colleague this issue before us. lina for raising this issue of student from North Carolina. I am not exactly sure why my col- loans. It is a very important issue for a But we want to make sure that pri- leagues on the other side of the aisle whole generation of Americans. vate loan services who collect pay- have been so resistant to protecting But let’s rewind and understand why ments, or those who collect payments consumers and to restoring the Con- we are in the position we are in with from students, are doing their job. sumer Financial Protection Bureau to student loans. In 2009 and 2010, there Now, yes, students want choices. I its original intent. was a Democratic majority in the taught for 40 years on the campus of My amendment would restore the re- House and the Senate that, in order to Bennett College. I know the difficulty lationship between the Consumer Fi- pass ObamaCare, they needed pay-fors that students have, and I know that nancial Protection Bureau and the De- to pass the Affordable Care and Patient they leave college with a lot of debt, partment of Education. Specifically, it Protection Act, the formal name of but we should not hold them hostage. would reestablish an interagency what we commonly call ObamaCare. They are asking for a choice to resolve agreement concerning the sharing of b 1345 the problems, and they need someone student borrower complaints and allow there who will speak for them. for cooperation in the supervision and One of the major pay-fors was the na- That is what this bill will do. That is oversight of student loan servicers. tionalization of student lending. So what was done before, and we need to It is critical that the Department of now we have a generation of American restore that kind of confidence back Education work with the CFPB on stu- students that have a crushing debt bur- into these students so that they know dent loan oversight. Currently, the De- den because of a government program. that they can get some help when they partment of Education is refusing to Ninety percent of student loans are need it. share information about loan servicers done through the Federal Government. Madam Chair, I reserve the balance and student borrower complaints, So let’s get to the fundamentals of of my time. which is making it more difficult for this reform, so that consumers can Mr. MCHENRY. Madam Chair, I am the CFPB to conduct its investigations have choice, students can have choice. prepared to close, and I reserve the bal- into the lenders’ bad behavior and de- This amendment doesn’t do that. ance of my time. ceptive practices. The memorandum of understanding Ms. ADAMS. Madam Chair, let me In fact, last Thursday, it was re- between the CFPB and the U.S. Depart- just say this: This is a good amend- ported that the Director of the CFPB, ment of Education outlines the param- ment. This is a great bill. It is an op- portunity for us to restore some con- in response to Senator WARREN’s in- eters to share student loan informa- quiry, stated that Secretary DeVos and tion. The Department of Education was fidence and integrity into this process. We should not hold our students hos- the Department of Education were clear in its letter terminating the tage and penalize them because of blocking efforts to conduct proper memorandum of understanding, stat- something that the Congressman said oversight on the student loan industry. ing: the government has done. Because of the stance the Depart- It takes exception to the CFPB uni- Madam Chair, we have an oppor- ment of Education has taken, many laterally expanding its oversight role to include the Department’s contracted tunity to fix this, and I would certainly student loan servicers and lenders are encourage all of my colleagues to sup- not complying with CFPB’s request for Federal student loan servicers. The De- partment has full oversight responsi- port this bill. information as well. These companies Madam Chair, I yield back the bal- bility for Federal student loans under that manage student loans are refusing ance of my time. Federal law. to share information that the CFPB Mr. MCHENRY. Madam Chair, let me needs to perform proper oversight. This The Department letter also expressed state this clearly. Dodd-Frank con- is unacceptable. concern that: ferred authority over private student The national student loan debt has CFPB’s intervention in this area adds lending to the CFPB. It did not grant reached crisis levels. The American confusion to borrowers who now hear the CFPB a role in Federal student people are getting crushed by more conflicting guidance related to Title IV lending that is overseen by the Depart- than $1.5 trillion in student debt. More- of student loan services for which the ment of Education. over, we have seen countless lawsuits Department is responsible. So this amendment is a counterpoint allege that widespread wrongdoing by So the memorandum of under- to what is existing law. The memo- student loan companies is costing some standing was terminated because the randum of understanding was termi- borrowers thousands of dollars. two separate departments, the CFPB nated for good reason. This critical amendment would put and the Department of Education, were This amendment is nothing more borrowers back at the center of the Bu- sending information to students who than an attempt to undo another Fed- reau’s consumer protection work. were trying to make payments, some eral agency’s action without under- Our constituents have elected us to were trying to catch up on payments, standing the context in which it was look out for their best interests, to and they are getting two different terminated. protect them from harmful policies, pieces of guidance. I think the fundamental issue here is and to provide them recourse when So to reinstate this provides more consumer choice, student choice. We they get into difficult situations. Dis- confusion for the very people that are lack that currently.

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00021 Fmt 7634 Sfmt 0634 E:\CR\FM\A22MY7.008 H22MYPT1 H4090 CONGRESSIONAL RECORD — HOUSE May 22, 2019 When 90 percent of student lending is erans, students, those who have mort- but a monthly reporting requirement run by the Federal Government, we gages, and individuals with auto loans, will provide no additional clarity for us have a problem. That is a nationalized which is very prevalent. as public policymakers. set of lending. Since the creation of the CFPB, it Madam Chair, I stand in opposition With more consumer choice, with has helped over 31 million harmed con- to the bill, and I reserve the balance of better technology, with real innova- sumers with over $12 billion in relief. my time. tion, we can give students better op- That is pretty substantial. Mr. LAWSON of Florida. Madam portunities and better choices. Those In addition, the CFPB has received Chair, how many minutes do I have re- things are happening in the private and taken action on nearly 1 million maining? sector, but in a limited way, because complaints. The Acting CHAIR. The gentleman the Federal Government is so deeply Today, the CFPB’s ability to con- from Florida has 21⁄2 minutes remain- involved in student lending. tinue protecting our Nation’s bor- ing. Let’s fix that issue of student lending rowers has been severely limited by the Mr. LAWSON of Florida. Madam with good reforms, with proper innova- Trump administration. The adminis- Chair, I would say to the distinguished tion, with more choices. tration has weakened the supervision member from North Carolina, who I Madam Chair, this amendment does and enforcement of fair lending, have enjoyed working with, during my not achieve those things, sadly, and I blocked payday loan cases, dismantled tenure in Florida, especially in the would ask my colleagues to vote ‘‘no.’’ protections for servicemembers, and Florida legislature, one of the biggest Madam Chair, I yield back the bal- has reduced transparency and account- complaints was for protection for the ance of my time. ability. consumers. The Acting CHAIR. The question is The Consumers First Act fights back. I spent my career there fighting on on the amendment offered by the gen- The bill, along with the amendment, their behalf, for the voiceless who did tlewoman from North Carolina (Ms. specifically requires transparency in not have a voice, and I continue with this fight here, because I know the im- ADAMS). fair lending investigations, requires The amendment was agreed to. interagency cooperation, and demands portance of it. diversity and inclusion efforts. Madam Chair, I can tell the gen- AMENDMENT NO. 4 OFFERED BY MR. LAWSON OF tleman, if I walked out of here today FLORIDA My home State of Florida has one of the highest rates of consumer com- and just walked down the street and The Acting CHAIR. It is now in order asked an average person what was to consider amendment No. 4 printed in plaints in the Nation. Some of it might be due to the elderly population that more important to them, they would part A of House Report 116–79. say the consumer protection that they Mr. LAWSON of Florida. Madam we have or the high number of just reg- ular citizens who need protection. feel that they don’t really have. Chair, I have an amendment on the This is the most important legisla- desk. What would these consumers do with- out the CFPB? What would be their re- tion that I have seen since I have been The Acting CHAIR. The Clerk will in Congress, because it goes straight to designate the amendment. course for Federal action? Madam Chair, it is time that we put the people who need it the most, our The text of the amendment is as fol- veterans, our students, regular con- lows: consumers first. I urge my colleagues to support my amendment and to sup- sumers, just the average people. Page 40, after line 8, insert the following: Big banks and institutions have a lot port the underlying bill. SEC. 9. REPORT ON FAIR LENDING INVESTIGA- Madam Chair, I reserve the balance of protection, but the average person TIONS AND ENFORCEMENT AC- does not have this protection. TIONS. of my time. Madam Chair, I can guarantee my Section 1016 of the Consumer Financial Mr. MCHENRY. Madam Chair, I rise colleagues on the other side of the Protection Act of 2010 (12 U.S.C. 5496) is in opposition to the amendment. aisle, if they vote for this protection, it amended by adding at the end the following: The Acting CHAIR. The gentleman will be in the same vein of when our ‘‘(d) REPORT ON FAIR LENDING INVESTIGA- from North Carolina is recognized for 5 TIONS AND ENFORCEMENT ACTIONS.—The Di- great President Lincoln said that: minutes. rector shall issue a monthly report to Con- ‘‘The world will little note, nor long re- Mr. MCHENRY. Madam Chair, I be- gress containing— member what we say here, but it can lieve this amendment will divert im- ‘‘(1) the number of investigations opened never forget what they did here.’’ and closed by the Bureau relating to poten- portant resources away from pursuing Madam Chair, I yield back the bal- tial fair lending violations; fair lending violations. I know that is ance of my time. ‘‘(2) how many fair lending enforcement ac- not my colleague’s intent. Mr. MCHENRY. Madam Chair, I yield tions have been taken or referred; We currently have an annual report ‘‘(3) an analysis of consumer complaints re- myself such time as I may consume. requirement under this very provision. Madam Chair, in closing, I want to lating to potential fair lending violations; I do not think a monthly report would and commend the author of this amend- ‘‘(4) statistics on how many staff of the Of- give added clarity to Members of Con- ment, who is using this opportunity to fice of Fair Lending and Equal Opportunity gress. highlight his support of fair lending en- are dedicated to fair lending supervision and Moreover, when it comes to Federal forcement by the CFPB. I commend enforcement issues.’’. regulatory agencies under the jurisdic- him for that. I commend my colleague Page 40, line 9, strike ‘‘SEC. 9’’ and insert tion of the Financial Services Com- for that. I believe he is a thoughtful ‘‘SEC. 10’’. mittee, I know of no other monthly re- legislator. The Acting CHAIR. Pursuant to porting requirement we impose upon I reluctantly oppose this amendment, House Resolution 389, the gentleman regulators, and so this would be incon- given the fact that we have already from Florida (Mr. LAWSON) and a Mem- sistent with other pieces of financial provided in law and regulation an an- ber opposed each will control 5 min- regulation and the law that we cur- nual report of this same data, and I be- utes. rently have. lieve that resources would be better The Chair recognizes the gentleman If Congress wants to control more of spent on protecting consumers directly from Florida. how the CFPB is using its resources, around fair lending violations rather Mr. LAWSON of Florida. Madam we should bring them under the annual than reporting on a monthly basis Chair, I rise to support the Consumers appropriations process. That is a fun- what they do on an annual basis. First Act and my amendment that damental reform which is not included Madam Chair, while I oppose this would provide transparency in the in the underlying bill. bill, I certainly commend my colleague number of fair lending cases that are Madam Chair, I would say that while for his passion, his care for consumer opened and closed by the Consumer Fi- my colleague has a very important protection. nancial Protection Bureau. issue he is raising here and trying to Madam Chair, I yield back the bal- This Bureau was created under Dodd- clarify on the actions of the CFPB and ance of my time. Frank to provide consumer protection ensuring that fair lending is enforced The Acting CHAIR. The question is from unfair lending practices. These reasonably, I concur with him that on the amendment offered by the gen- individuals include our Nation’s vet- that is an important and good thing, tleman from Florida (Mr. LAWSON).

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00022 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.036 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4091 The amendment was agreed to. In my home State of Massachusetts, nual report doesn’t seem like the right b 1400 46 percent of those living in commu- approach. We currently have an annual nities of color have debt in collections report, so what this amendment does is AMENDMENT NO. 5 OFFERED BY MS. PRESSLEY compared to only 18 percent of resi- simply say, on a quarterly basis, they The Acting CHAIR. It is now in order dents in predominantly White areas. must provide an annual report rather to consider amendment No. 5 printed in We know that debt collectors engage than have an actual annual report an- part A of House Report 116–79. in some of the most aggressive tactics: nually. So this is really about micro- Ms. PRESSLEY. Madam Chair, I harassing, berating, and even falsely managing the Bureau. have an amendment at the desk. threatening legal action against vul- The Bureau currently reports on an The Acting CHAIR. The Clerk will nerable consumers. annual basis, as the Congresswoman designate the amendment. My amendment would require the Di- from Massachusetts outlined. More- The text of the amendment is as fol- rector of the Consumer Bureau to issue over, it not only changes that, it also lows: quarterly reports to Congress, includ- changes what is currently in the mid- Page 40, after line 8, insert the following: ing an analysis of complaints sub- dle of a 90-day public comment period, SEC. 9. DEBT COLLECTION. which is the regulations put forward on (a) REPORT ON DEBT COLLECTION COM- mitted by consumers. The Consumer May 7 by the Bureau on fair debt col- PLAINTS AND ENFORCEMENT ACTIONS.—Sec- Bureau’s complaint database has been tion 1016 of the Consumer Financial Protec- a crucial tool to monitor harmful in- lection practices. tion Act of 2010 (12 U.S.C. 5496) is amended by dustry trends and agency enforcement What this amendment does is simply adding at the end the following: efforts in defense of consumers. say that, for debt collection purposes, ‘‘(d) REPORT ON DEBT COLLECTION COM- Since the beginning of this adminis- you can’t text or email a consumer. PLAINTS AND ENFORCEMENT ACTIONS.—The Di- tration, more than 62,000 consumers That is what this amendment does. rector shall issue a quarterly report to Con- submitted complaints on harmful and That is not modern. That is not the na- gress containing— ture of how we communicate with our ‘‘(1) an analysis of the consumer com- unfair debt collection practices. The Consumer Bureau, under Director smartphones in today’s environment. plaints received by the Bureau with respect What this amendment would do is to debt collection, including a State-by- Mulvaney and now Director State breakdown of such complaints; and Kraninger’s failed leadership, has re- drive up the cost of healthcare, of col- ‘‘(2) a list of enforcement actions taken turned zero—zero—relief to harmed lecting on student loans. By not being against debt collectors during the previous consumers. able to communicate with consumers 12 months.’’. My amendment will require the Di- in a modern way, they will not have (b) LIMITATION ON DEBT COLLECTION rector to report on the various enforce- the follow-up necessary so that con- RULES.—Section 1022 of the Consumer Finan- sumers will have some knowledge that ment actions taken against these debt cial Protection Act of 2010 (12 U.S.C. 5512) is perhaps they owe money that they collectors because we cannot afford to amended by adding at the end the following: didn’t otherwise know about. ‘‘(e) LIMITATION ON DEBT COLLECTION go back to the days in which con- RULES.—The Director may not issue any rule And simply saying snail mail is the sumers were left to fend for themselves way to go does not seem like what this with respect to debt collection that allows a in a financial industry that was debt collector to send unlimited email and amendment should be about nor what stacked against them. text messages to a consumer.’’. we should be about as a Congress. We Information is power. The more in- Page 40, line 9, strike ‘‘SEC. 9’’ and insert should be using all elements of tech- ‘‘SEC. 10’’. formation we have, the more power we nology to make sure that our financial The Acting CHAIR. Pursuant to have to protect consumers from harass- institutions, our government can actu- House Resolution 389, the gentlewoman ment. ally communicate with people in the from Massachusetts (Ms. PRESSLEY) Recently, the Consumer Bureau re- way that they see fit. This amendment and a Member opposed each will con- leased a proposed debt collection rule limits that. trol 5 minutes. filled with carveouts and loopholes I think this amendment is unproduc- The Chair recognizes the gentle- that would allow debt collectors to tive. The public should have the right woman from Massachusetts. more aggressively target and harass to opine on the proposal put forward by Ms. PRESSLEY. Madam Chair, I rise consumers through emails and text the CFPB, and the public should also today in support of my amendment to messages. have the right to be communicated H.R. 1500 and in support of the Con- My amendment would prohibit the with by their financial service pro- sumers First Act. Director from issuing further rules viders in a way that they see fit. I also want to thank Chairwoman that would essentially open the flood- So, with that, I do ask my colleagues WATERS for her leadership and her gates and allow collectors to bombard to oppose this amendment. stewardship in this endeavor. consumers. Madam Chair, I reserve the balance I am proud to cosponsor this bill, I urge my colleagues to stand with of my time. which will return the Consumer Bureau consumers and to support my amend- Ms. PRESSLEY. Madam Chair, how to its intended role as a nonpartisan ment. much time do I have left? consumer watchdog that protects the Madam Chair, I reserve the balance The Acting CHAIR. The gentlewoman interests of American taxpayers, not of my time. from Massachusetts has 2 minutes re- those of special interests. Mr. MCHENRY. Madam Chair, I maining. In 2017, the Urban Institute found claim the time in opposition. Ms. PRESSLEY. Madam Chair, I just that 71 million Americans had a debt in The Acting CHAIR. The gentleman think it is important to remind my col- collection on their credit report. Mean- from North Carolina is recognized for 5 league across the aisle that consumers while, collectors estimate they contact minutes. are being harassed aggressively, and consumers more than a billion times a Mr. MCHENRY. I am opposed to the many of them did not even incur the year—a billion. amendment. debt for which they are being harassed. During the 2008 financial crisis, peo- I would ask the amendment’s author, So we need to close these loopholes. ple lost homes, jobs, and hard-earned if I am reading this correctly, that on The current rule is rife with loop- wealth. This crisis was the prime ex- a quarterly basis they will disclose the holes and carveouts and will open the ample of what can happen when nobody previous 12 months’ action. floodgates for debt collectors to further is looking out for the consumers who Am I reading the legislative text? bombard consumers. My amendment are left to navigate a financial system Ms. PRESSLEY. Will the gentleman will ensure that the Consumer Bureau built to confuse, mystify, and cap- yield? continues to put consumers first and italize on the most vulnerable. Mr. MCHENRY. I yield to the gentle- protects them from relentless harass- In response, Democrats created the woman from Massachusetts. ment. We simply want this data to be Consumer Financial Protection Bu- Ms. PRESSLEY. Yes, that is correct. accessible on a quarterly basis because reau, an agency with the sole mission Mr. MCHENRY. Madam Chair, I it will make it easier. of protecting consumers and holding thank the gentlewoman for clarifying. The Consumer Bureau is an inde- lenders accountable when they put Madam Chair, I would say that hav- pendent agency, and it needs to con- profits over people. ing a quarterly requirement for an an- tinue to operate as such. Under Dodd-

VerDate Sep 11 2014 04:08 May 23, 2019 Jkt 089060 PO 00000 Frm 00023 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.039 H22MYPT1 H4092 CONGRESSIONAL RECORD — HOUSE May 22, 2019 Frank, the Director is required to re- under the rule that this seeks to undo, was envisioned by the Founders in the port to Congress annually, and the and this amendment is unproductive Constitution. This amendment simply GAO office is required to annually because it limits the rights of individ- returns congressional oversight by audit the agency’s finances. The efforts uals to be communicated with in the bringing funding for the CFPB under of my colleagues on the other side of way that they seek. That is what I our discretionary appropriations proc- the aisle are intended to weaken this would say. ess. agency. To Members of Congress, my friends Madam Chair, I urge all Members to Madam Chair, I reserve the balance on the other side of the aisle, I would support this important and common- of my time. also say that they are going back to an sense reform, and I reserve the balance Mr. MCHENRY. Madam Chair, I am old system. If they don’t want mod- of my time. prepared to close. ernization under the current rule so Ms. WATERS. Madam Chair, I claim Ms. PRESSLEY. Madam Chair, that people can be communicated with the time in opposition to amendment again, this is ultimately about hon- in the way that they seek, I would tell No. 6. oring the very mission of the Bureau, Members of Congress to not text or The Acting CHAIR. The gentlewoman and that is to put consumers first. email their constituents but only mail from California is recognized for 5 min- I support H.R. 1500, and I urge all of them through the U.S. Postal Service. utes. my colleagues to support my amend- Madam Chair, I urge a ‘‘no’’ vote on Ms. WATERS. Madam Chair, this ment, which will be a further effort to this, and I yield back the balance of my amendment would take the widely suc- protect consumers and to guard time. cessful consumer complaint database against the harassment that so many The Acting CHAIR (Ms. JACKSON dark, hiding from the public how con- Americans are experiencing every day. LEE). The question is on the amend- sumers report personally being harmed Madam Chair, I yield back the bal- ment offered by the gentlewoman from by financial institutions. ance of my time. Massachusetts (Ms. PRESSLEY). The Dodd-Frank Act required the Mr. MCHENRY. Madam Chair, I yield The amendment was agreed to. CFPB to establish a consumer com- myself the balance of my time. AMENDMENT NO. 6 OFFERED BY MR. BURGESS plaint database to provide consumers I want to say to the author of this The Acting CHAIR. It is now in order with the opportunity to report com- legislation, I understand your inten- to consider amendment No. 6 printed in plaints about financial products and tion. We have a rule that is out for part A of House Report 116–79. services. comment right now to get the public Mr. BURGESS. Madam Chair, I have A public database empowers con- feedback on this. an amendment at the desk. sumers to seek redress when harmed Moreover, I would say, under existing The Acting CHAIR. The Clerk will and benefits the public by providing law, harassment by debt collectors is designate the amendment. firsthand stories to help other con- not permitted, period, under current The text of the amendment is as fol- sumers to avoid similar harms. law. What is prevented, though, is lows: A public database also promotes mar- somebody who is trying to collect Page 27, line 5, strike ‘‘; and’’ and insert a ket discipline and encourages financial debts from actually texting someone. period. firms to treat their consumers fairly. That is a problem. Page 27, strike line 6 and all that follows The Consumer Financial Protection I don’t think that is the intention of through page 28, line 13. Bureau has received over 1.5 million this amendment, but that is the net ef- The Acting CHAIR. Pursuant to consumer submissions, with a 97 per- fect, because the regulations put for- House Resolution 389, the gentleman cent response rate by financial firms to ward say that you can text, you can from Texas (Mr. BURGESS) and a Mem- the consumer complaints. email, something that the Debt Collec- ber opposed each will control 5 min- tion Act, written before email, written utes. b 1415 before text messaging, did not con- The Chair recognizes the gentleman This means that the American people template. We are updating this so that from Texas. know, need, and use this function. Tak- people can be communicated with in a Mr. BURGESS. Madam Chair, this ing this away from the public only modern way. amendment permanently subjects harms hardworking people in need of There is nothing more annoying than funding for the CFPB to congressional help and benefits the bad actors. finding on your voice mail some ran- appropriation and authorizes funding Through its research, education, dom voice mail from somebody you for fiscal year 2020 at the fiscal year market monitoring, and the much-used have never heard of, and you are sup- 2019 level. consumer complaint database, the posed to call this random person and The Consumer Financial Protection CFPB has been able to directly address provide them information. How about a Bureau is currently funded by the Fed- problems in the market and issues that text, right? eral Reserve System, based upon a for- directly harm hardworking families. When I got a text from my pharmacy mula. Congress has never been able to This is especially useful for the mil- that said, ‘‘Do you want to reorder fully determine the funding level for lions of consumers who, unfortunately, your prescription?’’ and I texted back, the CFPB, limiting congressional over- do not have the financial means, time, ‘‘Yes,’’ that saved me a phone call. I sight and the American taxpayers’ or access to the judicial court system. liked it. right to have a voice in these activi- Mandating that the consumer com- When talking about student debt, if ties. plaint database remain transparent somebody doesn’t even know that they As Acting Director Mick Mulvaney and publicly accessible is an important have missed a payment and the debt stated in his quarterly funding request aspect of this bill and will promote bet- collector calls and they have got a full to Chairman Jerome Powell of the Fed- ter conduct from providers of financial voice mail, they may never know that eral Reserve Board of Governors: ‘‘By services across this country. Thus, I they missed a payment. If they got a design, this funding mechanism denies urge my colleagues to oppose this text or if they got an email, that may the American people their rightful con- amendment to H.R. 1500, the Con- be the way that they actually want to trol over how the Bureau spends their sumers First Act. be communicated with. money. This undermines the Bureau’s Madam Chair, I reserve the balance What we are talking about is innova- legitimacy. The Bureau should be fund- of my time. tion; what we are talking about is mod- ed through congressional appropria- Mr. BURGESS. Madam Chair, may I ern communication; and what we are tions. However, I am bound to execute inquire as to how much time I have re- talking about is reasonable regulation the law as written.’’ maining. to ensure that consumers, especially If Democrats do not like the actions The Acting CHAIR. The gentleman students, are able to be communicated of the CFPB Director, they should sup- from Texas has 3 minutes remaining. with in the way that they seek and the port returning control to the Congress, Mr. BURGESS. Madam Chair, I yield way that they like. to the United States House of Rep- myself the balance of my time. This amendment is premature be- resentatives, to the people’s House, Madam Chair, this amendment cause there is notice and comment out through the appropriations process, as strikes a section of the bill requiring

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00024 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.042 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4093 public availability of all consumer The text of the amendment is as fol- tions process to politicize and defund complaints, obviously a CFPB web lows: the agency. page. A provision of the bill requires Redesignate section 9 as section 10. All the bank regulators are independ- that all consumer complaints be made Insert after section 8 the following: ently funded. In addition to the Con- available on a public CFPB website. SEC. 9 BRINGING THE AGENCY INTO THE REG- sumer Financial Protection Bureau, While it sounds like an attempt at ULAR APPROPRIATIONS PROCESS. the Federal Reserve, the OCC, the transparency, I am concerned about Section 1017 of the Consumer Financial FDIC, and the NCUA are all funded Protection Act of 2010 (12 U.S.C. 5497) is how it will affect the entities against outside of the appropriations process. amended— In fact, so is the FHFA, the FSOC, and which the complaints are filed. (1) in subsection (a)— We had a similar provision that was (A) by amending the heading of such sub- OFR. included back in the stimulus bill, the section to read as follows: ‘‘Budget, Finan- Congress provided the regulators HITECH Act in ARRA in 2009, resulting cial Management, And Audit.—’’; with independence from the executive in the loss of consumer confidence in (B) by striking paragraphs (1), (2), and (3); branch and the appropriations process healthcare entities because there was (C) by redesignating paragraphs (4) and (5) to ensure that financial regulators fo- no reporting required on remedial ac- as paragraphs (1) and (2), respectively; and cused on protecting the financial sys- tion. That is, once you got on the list, (D) by striking subparagraphs (E) and (F) tem from harm. of paragraph (1), as so redesignated; However, ever since it was created, you could never get off the list. (2) by striking subsections (b) and (c); The language of this bill requires dis- Republicans have focused on the Con- (3) by redesignating subsections (d) and (e) sumer Financial Protection Bureau’s closure of complaints, but there is no as subsections (b) and (c), respectively; and information on which complaints must (4) in subsection (c), as so redesignated— funding because, more than any other be posted and whether they can be re- (A) by striking paragraphs (1), (2), and (3) agency, it has helped level the playing moved. Will entities be publicly held as and inserting the following: field between Wall Street on one side guilty before an investigation is con- ‘‘(1) AUTHORIZATION OF APPROPRIATIONS.— and families, communities of color, ducted? Will there be a way to indicate There is authorized to be appropriated to the older Americans, servicemembers, and Bureau for fiscal year 2020 an amount equal that remedial action has occurred? students on the other. to the aggregate amount of funds transferred Under the guise of the appropriations Until these questions are clarified, by the Board of Governors to the Bureau dur- process, Republicans are seeking to do we must not subject entities to the im- ing fiscal year 2019.’’; and by amendment what they were unable mediate disclosure of consumer com- (B) by redesignating paragraph (4) as para- to do for the 8 years they were in plaints. graph (2). power, eliminate the Consumer Finan- This amendment strikes this provi- The Acting CHAIR. Pursuant to cial Protection Bureau entirely. sion so that we may thoroughly discuss House Resolution 389, the gentleman To that end, Mulvaney’s first request these issues before submitting them to from Texas (Mr. BURGESS) and a Mem- for funds to be transferred from the become law. ber opposed each will control 5 min- Federal Reserve to fund the CFPB’s op- Madam Chair, again, I urge support utes. erations was zero. He later asked Con- of the amendment, and I yield back the The Chair recognizes the gentleman gress to turn the CFPB, which he pre- balance of my time. from Texas. viously called a ‘‘sick, sad’’ joke of an Ms. WATERS. Madam Chair, may I Mr. BURGESS. Madam Chair, I yield agency, into an appropriated one. inquire as to how much time I have re- myself such time as I may consume. In addition, Republicans often point maining. Madam Chair, this amendment per- to the Securities and Exchange Com- The Acting CHAIR. The gentlewoman manently subjects the funding of the mission, which is subject to annual ap- from California has 3 minutes remain- Consumer Financial Protection Bureau propriations, as an example we should ing. to congressional appropriation and au- follow. What they seem to forget is Ms. WATERS. Madam Chair, I yield thorizes funding for fiscal year 2020 at that during Trump’s 35-day shutdown, myself the balance of my time. the fiscal year 2019 level. the Consumer Financial Protection Bu- Madam Chair, I would like to reit- The Consumer Financial Protection reau remained open while the SEC was erate my strong opposition to this Bureau is currently funded through the effectively shuttered. amendment. Federal Reserve System based on a for- Advocacy groups like Americans for Congress must ensure that consumer mula. Congress has never been able to Financial Reform also point out that complaints to the Consumer Financial fully determine the fund level for the ‘‘big banks would be able to use the po- Protection Bureau are available to the Consumer Financial Protection Bu- litically charged appropriations proc- public to hold companies accountable reau, limiting congressional oversight ess to deny funding for rule-writing or to the American people for their ac- and the American taxpayers’ right to enforcement actions that Wall Street tions or lack of actions. have a voice in these activities. Acting particularly dislikes. They could sim- Therefore, I urge my colleagues to Director Mick Mulvaney so stated dur- ply starve the agency of the basic funds oppose this amendment to H.R. 1500, ing his quarterly funding request to it needs to do its job or threaten to do the Consumers First Act, and I yield Chairman Jerome Powell of the Fed- so in order to intimidate the agency back the balance of my time. eral Reserve Board of Governors. out of taking actions to curb abuses by The Acting CHAIR. The question is If the Democrats do not like the ac- powerful companies.’’ on the amendment offered by the gen- tions of the Director of the CFPB, they The difference with Mulvaney and tleman from Texas (Mr. BURGESS). should support returning control to the Trump administration is that they The question was taken; and the Act- Congress, to the people’s House, have purposely sought to ignore or dis- ing Chair announced that the noes ap- through the appropriations process. regard the law and the independence peared to have it. This amendment simply returns con- Congress tried to create. Mulvaney, Ms. WATERS. Madam Chair, I de- gressional oversight by bringing fund- who reports directly to Trump, clearly mand a recorded vote. ing for the CFPB under our discre- ignored the law when he directed the The Acting CHAIR. Pursuant to tionary appropriations process. agency to stop supervising banks for clause 6 of rule XVIII, further pro- Madam Chair, I urge all Members to violations of the Military Lending Act. ceedings on the amendment offered by support this commonsense reform, and Nevertheless, I am not surprised that the gentleman from Texas will be post- I reserve the balance of my time. Republicans’ efforts to reform the Con- poned. Ms. WATERS. Madam Chair, I claim sumer Financial Protection Bureau in- AMENDMENT NO. 7 OFFERED BY MR. BURGESS the time in opposition. volve trying to starve the agency of The Acting CHAIR. It is now in order The Acting CHAIR. The gentlewoman funding. to consider amendment No. 7 printed in from California is recognized for 5 min- Madam Chair, Democrats want to en- part A of House Report 116–79. utes sure the Consumer Financial Protec- Mr. BURGESS. Madam Chair, I have Ms. WATERS. Madam Chair, I oppose tion Bureau can do and is doing its jobs an amendment at the desk. this amendment because it seeks to and puts consumers first. This amend- The Acting CHAIR. The Clerk will limit the Consumer Financial Protec- ment does exactly the opposite, and I designate the amendment. tion Bureau by using the appropria- urge my colleagues to oppose it.

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00025 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.045 H22MYPT1 H4094 CONGRESSIONAL RECORD — HOUSE May 22, 2019 Madam Chair, I reserve the balance wrongs. It would subject the CFBP to the Con- (i) by redesignating subparagraph (B) as of my time. gressional appropriations process, just like subparagraph (C); and Mr. BURGESS. Madam Chair, I yield other federal agencies of similar scope and (ii) by striking subparagraph (A) and in- serting the following: myself the balance of my time. size. This is not a partisan amendment: The ‘‘(A) CREDIT SCORE.—The term ‘credit Director Mulvaney in his quarterly simple change would increase resistance to funding request to Jerome Powell of score’ means a numerical value or a cat- political impulses and accountability to the egorization derived from a statistical tool or the Federal Reserve Board of Gov- American people. modeling system used by a person who ernors: ‘‘By design, this funding mech- The Acting CHAIR. The question is makes or arranges a loan to predict the like- anism denies the American people on the amendment offered by the gen- lihood of certain credit behaviors, including their rightful control over how the Bu- tleman from Texas (Mr. BURGESS). default. reau spends their money, which this The question was taken; and the Act- ‘‘(B) RISK SCORE.—The term ‘risk score’ undermines the Bureau’s legitimacy. ing Chair announced that the noes ap- means a numerical value or a categorization derived from a statistical tool or modeling The Bureau should be funded through peared to have it. congressional appropriations. However, system based upon information from a con- Mr. BURGESS. Madam Chair, I de- sumer report for the purpose of predicting I am bound to execute the law as writ- mand a recorded vote. the likelihood of certain behaviors or out- ten.’’ The Acting CHAIR. Pursuant to comes, and includes scores used for the un- It says pretty clearly in the Con- clause 6 of rule XVIII, further pro- derwriting of insurance.’’; stitution that no money may be drawn ceedings on the amendment offered by (C) by striking paragraph (6) and inserting from the Treasury except as an appro- the gentleman from Texas will be post- the following: priation by the United States Congress. poned. ‘‘(6) MAINTENANCE OF CREDIT SCORES.—All Most people do not accuse us of consumer reporting agencies shall maintain underspending when it comes to the ap- AMENDMENT NO. 8 OFFERED BY MR. COHEN in the consumer’s file credit scores or any propriations process, so I fail to see The Acting CHAIR. It is now in order other risk scores or other predictors relating that as a valid argument. to consider amendment No. 8 printed in to the consumer for a period of not less than Look, if you don’t like the actions of part A of House Report 116–79. 1 year beginning on the date on which such Mr. COHEN. Madam Chair, I have an information is generated.’’; the Director of the CFPB, support re- (D) by striking paragraph (7) and redesig- turning the funding to the Congress, amendment at the desk. The Acting CHAIR. The Clerk will nating paragraphs (8) and (9) as paragraphs support returning control to the Con- (7) and (8), respectively; and gress so you will have the control that designate the amendment. (E) in paragraph (7) (as so redesignated), by you seek. The text of the amendment is as fol- inserting before the period at the end the fol- Madam Chair, I urge an ‘‘aye’’ vote, lows: lowing: ‘‘, except that a consumer reporting and I yield back the balance of my Redesignate section 9 as section 10. agency described in section 603(p) shall pro- time. Insert after section 8 the following: vide a credit score without charge to the Ms. WATERS. Madam Chair, I yield SEC. 9. CREDIT SCORES INCLUDED IN FREE AN- consumer if the consumer is requesting the NUAL DISCLOSURES. score in connection with a free annual dis- myself the balance of my time. closure made pursuant to section 612(a)’’. Madam Chair, I would like to reit- Section 609 of the Fair Credit Reporting erate my strong opposition to this Act (15 U.S.C. 1681g) is amended— The Acting CHAIR. Pursuant to (1) in subsection (a)(1)— House Resolution 389, the gentleman amendment. (A) by striking ‘‘and’’ at the end and in- Today, the House is trying to return from Tennessee (Mr. COHEN) and a serting a period; Member opposed each will control 5 the Consumer Financial Protection Bu- (B) by striking ‘‘except that—’’ and all reau to its mission of putting con- minutes. that follows through ‘‘(A) if the’’ and insert- The Chair recognizes the gentleman sumers first. This amendment, instead, ing ‘‘except that if the’’; and (C) by striking subparagraph (B); from Tennessee. is meant to slow down and ultimately Mr. COHEN. Madam Chair, I yield starve the agency by using the appro- (2) in subsection (a), by adding at the end myself 21⁄2 minutes. The coauthor of priations process. the following: ‘‘(7) If the consumer reporting agency is a this amendment is Mrs. BEATTY from Madam Chair, my friends on the op- Ohio. posite side of the aisle have tried ev- consumer reporting agency that compiles and maintains files on consumers on a na- Madam Chair, this amendment will erything they could try to dismantle tionwide basis as described in section 603(p), allow consumers to obtain free access the Consumer Financial Protection Bu- each such agency shall disclose a current to their credit scores. It directs the reau. I think it is odd that they would credit score generated using the scoring al- Consumer Financial Protection Bureau spend their time opposing what is good gorithm, formula, model, program, or mech- to require that consumer reporting for consumers and, yet, embracing the anism that is most frequently used to gen- agencies disclose free credit scores to very institutions that caused us to erate credit scores sold to creditors, subject consumers who make that request. have a recession in 2008 and to harm to regulations of the Bureau, along with any Federal law currently allows con- information in the consumer’s file at the the American people. sumers to obtain one credit report per Madam Chair, I ask that everyone time of the request concerning credit scores or any other risk scores or other predictors year from each of the major credit bu- oppose this amendment, and I yield relating to the consumer, if such request is reaus that monitor consumer credit in- back the balance of my time. made in connection with a free annual dis- formation. These free reports include Mr. BURCHETT. Madam Chair, I rise today closure made pursuant to section 612(a). all the current data on which a credit to speak on behalf of Dr. BURGESS’ Amend- ‘‘(8) Such other consumer information as score would be based but don’t include ment to H.R. 1500, the Consumers First Act. the Bureau considers appropriate with re- the credit score itself. The Consumer Financial Protection Bureau spect to consumer financial education, in- For consumers, this is kind of like (CFPB) has two primary flaws. First, Congress cluding the information required by sub- trying to figure out how well their fa- does not oversee the agency, and a sole di- section (f)(1), information describing the vorite baseball team is doing based on rector determines its priorities. Second, in- credit score of the consumer with respect to a range of possible credit scores, and the gen- newly created analytics for the modern stead of securing funding through the Con- eral factors contributing to the credit scores sports fan and not for us who know just gressional appropriations process, the CFPB of consumers.’’; and home runs, ERA, and strikeouts. If not receives money from the Federal Reserve. (3) in subsection (f)— for the current win-loss record, would This funding method exempts it from budg- (A) in paragraph (1)— people be able to know how their team etary limitations and is a prime candidate for (i) by striking ‘‘, a consumer reporting is doing. the irresponsible use of tax dollars. agency’’ and all that follows through ‘‘shall Good credit scores mean better inter- These practices do not serve the American include—’’ and inserting ‘‘or a risk score, a est rates on mortgages, bank loans, people, those that this agency was designed consumer reporting agency shall supply to and credit cards; smaller deposits for to protect. Because of this current lack of the consumer—’’; and rent and utilities; and even lower in- (ii) by amending subparagraph (A) to read oversight and accountability, the agency is vul- as follows: surance premiums. nerable to political whims. An agency this ‘‘(A) any credit score or risk score in the As important as credit scores are, powerful should have Congressional oversight. file of the consumer at the consumer report- they are still a mystery to most Amer- Dr. BURGESS’ amendment, which I am proud ing agency;’’; icans. While most understand the fun- to cosponsor, would help to right these (B) in paragraph (2)— damentals, such as the importance of

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00026 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.047 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4095 paying bills on time, there is a lot of or a credit card, or even applying for a buys a product from here and who buys uncertainty about how the credit score job, undoubtedly, a credit score plays a product from there. That is what the is actually determined. an integral role in the everyday finan- people are allowed to do on their own, Many Americans don’t know, for ex- cial lives of all Americans. I am asking and that is what makes our country so ample, that maxing out your credit and urging my colleagues to support great is economic freedom to be able to card can be about as bad as making a this important amendment. do that: pick and choose between what late payment. Many people also wrong- Mr. LUETKEMEYER. Madam Chair, companies provide what services and ly believe their credit scores reflect I rise in opposition to this amendment. which ones they want to pay for. In- their income, age, marital status, edu- The Acting CHAIR. The gentleman stead of dictating how one company cation, or even ethnicity. from Missouri is recognized for 5 min- should pay another, we should be al- A large majority of Americans are utes. lowing the freedom for them to choose. unable to define a good credit score— Mr. LUETKEMEYER. Madam Chair, Again, this amendment is about pick- 700—and many don’t know that small I rise in opposition to this amendment ing winners and losers. It provides no changes in behavior could have a large that would place, I believe, an unneces- benefit to consumers and should be impact on the interest rates that they sary burden on credit bureaus with no soundly defeated. will pay on loans. benefits to consumers. Madam Chair, is my understanding With that in mind, this amendment Currently, consumers have access to correct that the gentleman from Ten- directs the CFPB to determine if agen- free credit scores through the nessee (Mr. COHEN) has no time remain- cies should also disclose other con- annualcreditreport.com website run by ing? sumer information appropriate with re- the big three credit reporting agencies, The Acting CHAIR. The gentleman spect to consumer financial education. or CRAs. On this website, consumers from Tennessee has 1 minute remain- can get three separate credit scores, b 1430 ing. one at each of these three CRAs, for Mr. LUETKEMEYER. Madam Chair, People with poor or mediocre credit free. This amendment will use the I reserve the balance of my time. scores pay for them with higher inter- CFPB to require that the CRAs provide Mr. COHEN. Madam Chairwoman, in est rates, bigger security deposits, and an additional credit score to con- the minute that I have, I can’t read the higher insurance premiums. sumers. That is right, a fourth credit bill to the gentleman, but what the The one number that can make or score. gentleman talked about is not the bill. break someone’s financial future more Specifically, the amendment requires It might be something somewhere up in than salary is their credit score. I be- CRAs to use the credit score that is the stratosphere, but this has nothing lieve consumers have a right to obtain most frequently used. What the legisla- to do with picking one company, or their credit score for free from the tion fails to mention is that the most Venezuela, or some other communist same source that supplies it to other frequently used score is a FICO score. country. This has to do with giving entities. FICO scores are not free. consumers the fair opportunity to see I would like to acknowledge my This amendment requires that the what their credit score is. former staffer, Michael Fulton, now an credit bureaus, all private companies, That is America. That is fairness. executive with the Memphis Inter- purchase credit scores from FICO, an- That is justice. national Airport, who worked on the other private company; and in doing Madam Chair, I reserve the balance original bill, the Fair Access to Credit so, it is mandating the transfer of po- of my time. Scores Act, which I introduced 9 years tentially hundreds of millions of dol- Mr. LUETKEMEYER. Madam Chair, ago in the 111th Congress. lars from one company to another com- I yield such time as he may consume to I look forward to working more on pany. the gentleman from North Carolina this important issue with Chairwoman One has to ask oneself, why is this (Mr. MCHENRY). WATERS and my partner on this amend- designed to punish these three CRAs or Mr. MCHENRY. Madam Chairwoman, ment, Congresswoman BEATTY from to create a massive payday for FICO? I urge my colleagues to vote ‘‘no.’’ Ohio. This is the USA, not USSR, not China, There is landmark legislation in the I yield such time as she may consume and not Venezuela. The government 1990s that required a free credit report. to the distinguished gentlewoman from has no right to force a private company The underlying components of a free Ohio (Mrs. BEATTY). to hand millions of dollars to another credit report are given directly by the Mrs. BEATTY. Madam Chair, the in- private company simply because the agencies to the people. What this would clusion of credit scores on the free an- government official prefers one product require is the CFPB to go purchase the nual credit report is an issue that my over another. FICO, or take the FICO score, which is colleague from Tennessee and I have In addition, the chairwoman has in- derived from the underlying credit re- worked on for several Congresses. troduced legislation to reform the CRA ports. Under current law, all consumers are and has yet to bring a bill up before the The underlying credit reports are entitled to a free annual report from committee. I would imagine this much more meaningful in terms of the the three credit reporting agencies. amendment that deals with credit value they provide to consumers. The However, despite providing consumers scores, not consumer protection, is bet- flaws that they have in them, con- with all of the information that makes ter suited to be debated under regular sumers can remedy. up their credit scores, the free annual order in our committee than thrown We currently have existing law that report does not actually include a cred- onto a bill that seeks to amend CFPB does the right thing here. I urge my it score. That needs to change. Adop- governance. colleagues to vote ‘‘no’’ on this, while tion of this amendment would do just In short, this amendment has the a thoughtful idea, a bad idea in how it that. government picking winners and los- is constructed. I want to thank Chairwoman WATERS ers, provides little or no benefit to con- Mr. COHEN. Madam Chair, I reserve for working with us. sumers, is irrelevant to the subject of the balance of my time. I also want to share that financial this bill, and should be soundly de- Mr. LUETKEMEYER. Madam Chair, literacy is a lifelong journey, and as feated. I have the right to close, so I reserve co-chair of the Financial and Economic This sets a horrible precedent, the balance of my time. Literacy Caucus, I believe that knowl- Madam Chairwoman. We are dictating The Acting CHAIR. The gentleman edge of one’s own credit score is essen- one private company to pay another from Missouri has the right to close. tial. There are few three-digit numbers private company for a service. When do Mr. COHEN. Madam Chairwoman, as important to consumers as their we ever do that? That is amazing this is a good bill. I appreciate the idea credit score. Despite the importance, precedent to set. How can we do this? of thoughtful. It is thoughtful and it is nearly 60 percent of U.S. adults are un- We are not a dictatorial government good. And maybe it distinguishes the aware of what their score is. here. We allow the winners and losers parties. One party is looking out for Whether applying for a home or an to be chosen by the people through eco- consumers to have an opportunity to auto loan, applying for a line of credit nomic freedom. We don’t dictate who get a chance to see their score and

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00027 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.049 H22MYPT1 H4096 CONGRESSIONAL RECORD — HOUSE May 22, 2019 have a fair chance in the American eco- country, including young consumers ObamaCare, that industry is now 90 nomic system, to participate, and the and student borrowers. percent government. That is problem- other doesn’t care. I commend my colleagues for includ- atic. Madam Chairwoman, I ask that we ing in the original bill the restoration This amendment doesn’t deal with pass the bill, and I yield back the bal- of the CFPB’s Office of Students and the substance of that, though it does ance of my time. Young Consumers, which this adminis- deal with the risk factors associated Mr. LUETKEMEYER. Madam Chair, tration closed last year. Shutting down with young consumers and student bor- I yield the balance of my time to the this office diminished the CFPB’s mis- rowers. I think it is important that we gentleman from North Carolina (Mr. sion and weakened its enforcement ca- highlight the needs of young bor- MCHENRY), the ranking member. pabilities. rowers, the needs of students, and this Mr. MCHENRY. Madam Chair, it is Before its closure, this office re- amendment will provide that type of insulting to hear a colleague say that turned more than $750 million to stu- data on an annual basis. I think it is a the other party does not care about the dents and student loan borrowers good amendment. consumer. That is absolutely wrong. It through actions against unscrupulous I appreciate the author for her will- is not becoming to the House, and it is student loan servicers. They also ingness to engage in this debate, but not becoming to the debate on this helped more than 60,000 borrowers who also highlighting the need for us to House floor. submitted complaints about the stu- think more thoughtfully here in Con- We care about consumers; we all do. dent loan industry to the CFPB. gress, think more deeply around finan- It is about how we take care of them Notably, in January of 2017, the cial literacy. and how we defend them. CFPB and the Office of Students and We passed a bipartisan resolution a This is a bad amendment, badly con- Young Consumers stood up to the Na- month ago that highlighted the Na- structed. We already have a free credit tion’s largest student loan servicer, tional Endowment for Financial Edu- report. We don’t need the CFPB to get Navient, for misallocating payments cation and the needs of financial lit- between consumers and their free cred- and improperly steering borrowers eracy, the basic understanding of inter- it report. This amendment does that, away from income-based repayment est rates, the time value of money, and and I urge my colleagues to vote ‘‘no.’’ plans. basic fundamentals of financial lit- Mr. LUETKEMEYER. Madam Chair, The amendment I am offering today eracy that young people need to be I yield back the balance of my time. with my colleague, Congressman HAR- aware of and the population needs to be The Acting CHAIR. The question is LEY ROUDA, would build on this office’s aware of more generally. This amend- on the amendment offered by the gen- critical role in protecting young con- ment gets to that subject matter that tleman from Tennessee (Mr. COHEN). sumer students and student loan bor- is a bipartisan concern and is a bipar- The amendment was agreed to. rowers. This amendment would require tisan approach to that bipartisan con- AMENDMENT NO. 9 OFFERED BY MS. BONAMICI the Assistant Director and Student cern. The Acting CHAIR. It is now in order Loan Ombudsman of the newly re- So I urge my colleagues to support to consider amendment No. 9 printed in stored Office of Students and Young this amendment. I thank the Congress- part A of House Report 116–79. Consumers to issue an annual report to woman for offering it, and I reserve the Ms. BONAMICI. Madam Chair, I have Congress on risks to young consumers balance of my time. an amendment at the desk. and student borrowers. Ms. BONAMICI. Madam Chairwoman, The Acting CHAIR. The Clerk will Specifically, this report would ana- I thank the gentleman for his bipar- designate the amendment. lyze complaints that were submitted to tisan support. This is an issue that we The text of the amendment is as fol- the CFPB in the previous year by all hear about from our constituents. lows: young consumers and student bor- As a member of the Education and On page 33, insert after line 15 the fol- rowers and offer an independent eval- Labor Committee, I know that we are lowing: uation of the risks to this population working hard on affordable higher edu- (5) REPORT ON RISKS TO YOUNG CONSUMERS as a result of policies and practices in cation; but, in the meantime, we need AND STUDENT BORROWERS.—Not less than the consumer financial products and to make sure that we are aware of the once annually, the Assistant Director and services marketplace. This report will problems that so many student loan Student Loan Ombudsman shall issue a re- help us understand the risks that our port to Congress containing an analysis of borrowers have. This amendment will complaints submitted to the Bureau by young consumers and borrowers face, help us get the information through a young consumers and student borrowers dur- and it will help inform the work of report, and I appreciate that this will ing the previous year and offering an inde- Congress on how to best fight back help us inform our approach here in pendent evaluation of risks to young con- against those who seek to prey on our Congress, as well as get a better under- sumers and student borrowers posed by poli- Nation’s young people. standing of the practices of student cies and practices in the marketplace for I ask my colleagues to support this loan services. consumer financial products and services. important amendment that will help b 1445 The Acting CHAIR. Pursuant to students, and I reserve the balance of House Resolution 389, the gentlewoman my time. Again, I thank the gentleman for his from Oregon (Ms. BONAMICI) and a Mr. MCHENRY. Madam Chairwoman, bipartisan support, I thank Chair- Member opposed each will control 5 I claim the time in opposition, though woman WATERS for her support of the minutes. I am not opposed. amendment, I urge all of my colleagues The Chair recognizes the gentle- The Acting CHAIR. Without objec- to support this amendment, and I yield woman from Oregon. tion, the gentleman from North Caro- back the balance of my time. Ms. BONAMICI. Madam Chairwoman, lina is recognized for 5 minutes. Mr. MCHENRY. Madam Chair, I yield I rise today to offer an amendment to There was no objection. myself the balance of my time. H.R. 1500, the Consumers First Act. Mr. MCHENRY. Madam Chair, this is Again, I want to close by reminding I thank Chairwoman WATERS and my a reasonable amendment that high- Congress and reminding my colleagues colleagues for their leadership in re- lights the issues facing young bor- that in 2009 and 2010 the Democrat storing essential functions of the Con- rowers. House, Democrat Senate, and Demo- sumer Financial Protection Bureau, As I said in previous amendment de- crat President nationalized the student which this administration so recklessly bate, in 2009 and 2010, the student loan lending industry. Ninety percent of rolled back. industry was nationalized. Ninety per- student loans last year were done by During my years of work as a con- cent of student loans are government the government. Only 10 percent were sumer protection attorney, I learned loans. It is the government that is put- done by the private sector. firsthand how strong consumer protec- ting and saddling a generation of stu- That is deeply problematic. It is gov- tion laws help to keep Americans fi- dents in unsustainable debt. That is ernment that is saddling a generation nancially secure. This administration’s deeply problematic. of students with debt that is efforts to weaken the CFPB have As a result of the pay-for of the ACA unsustainable for them. The lost eco- harmed millions of people across the and as a result of the pay-for under nomic potential as a result of that is

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00028 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.051 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4097 deeply problematic for our Nation and protect consumers. This included firing My amendment is a small, yet impor- for the individuals who are affected members of the Consumer Advisory tant, nonpartisan amendment in re- here. Board and reducing the size of the sponse to the growing movement in To highlight the risk factors facing board. This hurt the CFPB’s ability to Congress and across the Nation and young consumers and student bor- help and protect consumers. world to protect consumers’ personal rowers is the right thing. For our Con- The board’s experts help inform the data and basic right of privacy. gress to have that proper data is im- CFPB about emerging practices and Madam Chair, I reserve the balance portant, but do remember the nature of trends in the consumer finance indus- of my time. what is happening in the student loan try and share analysis and rec- Mr. MCHENRY. Madam Chair, I industry is being driven by a proactive ommendations. It helps ensure the gov- claim the time in opposition, although decision of Congress to nationalize that ernment fully leverages expertise of I am not opposed. area of student lending. That is prob- those from outside of government. The Acting CHAIR. Without objec- lematic. We need to resolve that issue. H.R. 1500, the Consumers First Act, tion, the gentleman from North Caro- It is an issue I want to continue to would reverse anticonsumer changes lina is recognized for 5 minutes. highlight in any debate that we have taken by the administration and There was no objection. Mr. MCHENRY. Madam Chair, this around student lending. strengthen the Consumer Advisory amendment would ensure at least one Madam Chair, I urge my colleagues Board. The bill would require the CFPB member of the Consumer Advisory to vote for this amendment, and I yield director to appoint at least 25 mem- Board is an expert in consumer pri- back the balance of my time. bers, at least two-thirds of which would vacy. I think Congress has a proper The Acting CHAIR. The question is have to represent consumers, including role that they can exert in the make- on the amendment offered by the gen- fair lending and civil rights experts and up of boards, advisory boards, or make- tlewoman from Oregon (Ms. BONAMICI). representatives of communities af- up of commissions, and I think this is The amendment was agreed to. fected by high-priced mortgages. My amendment would require at least one reasonable legislating around that. AMENDMENT NUMBER 10 OFFERED BY MR. CASE member of that board to be a dem- We constantly hear from both finan- The Acting CHAIR. It is now in order onstrated expert in privacy. cial firms and their regulators that cy- to consider amendment No. 10 printed My amendment is needed because the bersecurity and insufficient data pri- in part A of House Report 116–79. interplay of privacy and technology in vacy standards are significant threats Mr. CASE. Madam Chair, I have an the financial landscape has changed to consumers and financial stability. amendment at the desk. dramatically since 2008. As internet Moreover, as employees of the Fed- The Acting CHAIR. The Clerk will connectivity increases, Americans now eral Government, we know of Federal designate the amendment. transmit more of their personal and fi- Government data breaches of Federal The text of the amendment is as fol- nancial information on the internet at employees. We have to do more to lows: exponentially higher rates than in the make sure that we stop that and stop Page 36, line 25, strike ‘‘and’’. past, and their data is at risk. malicious state actors from these Page 37, line 7, strike the period and insert Since 2013 there have been at least 10 cyberattacks. ‘‘; and’’. major data breaches compromising bil- Billions of people were impacted by Page 37, after line 7, insert the following: data breaches and cyberattacks in 2018 ‘‘(C) ensure that at least 1 member is an lions of consumers. A number of these expert in consumer privacy.’’. breaches exposed consumers’ financial alone. The problem is only growing, information. For example, Marriott and the threats are becoming much The Acting CHAIR. Pursuant to International’s 2018 breach com- more sophisticated. Given the impor- House Resolution 389, the gentleman promised the personal information of tance of this conversation, ensuring from Hawaii (Mr. CASE) and a Member some 500 million customers, including that one individual on the Consumer opposed each will control 5 minutes. credit card numbers of more than 100 Advisory Board has consumer privacy The Chair recognizes the gentleman million. In 2017 Equifax was breached, expertise offers a reasonable solution. from Hawaii. exposing the personal information of Madam Chair, I commend my col- Mr. CASE. Madam Chair, I rise in 143 million consumers, including Social league from Hawaii for offering this support of my amendment to H.R. 1500 Security numbers. In 2014 the Nation’s amendment. I urge my colleagues to which would ensure at least one mem- largest bank, JPMorgan Chase, was support it, and I reserve the balance of ber of the Consumer Advisory Board be breached, compromising 76 million, or my time. an expert in privacy. two in three U.S. households. The list, Mr. CASE. Madam Chair, I appreciate Over a decade ago, predatory lending unfortunately, goes on and on. the comments of my colleague very and lax regulation led to one of the In the wake of these high-profile data much and the support. This clearly most devastating financial crises in breaches and privacy violations, con- demonstrates that when it comes to our lifetime or any lifetime. The Bu- sumers are increasingly concerned consumer privacy, there is no party in- reau of Consumer Financial Protec- about their online personal and finan- volved. We are all concerned about it tion, or CFPB, was established by the cial privacy. A recent Pew Research regardless of our party. So I appreciate 2010 Dodd-Frank Wall Street Reform Center public opinion study found that those comments. and Consumer Protection Act in re- over half feel that their personal infor- I would only add that certainly this sponse to this crisis. The CFPB is mation is less secure than it was just 5 member of the board should deal not tasked with implementing and enforc- years ago, and 68 percent of internet only with data breaches, but also with ing federal consumer financial laws users believe current laws are not good the basic rules and regulations that while ensuring consumer access to fair, enough in protecting people’s privacy govern privacy. We need a large, mas- transparent, and competitive financial online. sive, and increased broad government products and services. Our consumers are demanding action debate over our own rules on privacy in Under former Director Richard on the issue of privacy, and our privacy this country where, in fact, we do lag Cordray, the CFPB returned roughly laws and enforcement significantly lag the rest of the world. $12 billion to over 30 million consumers much of the rest of the world. Obvi- Madam Chair, I appreciate, again, my who fell victim to deceptive financial ously, the current system is not work- colleague’s support, and I yield back practices, handled over 1.2 million con- ing to ensure that personal privacy is the balance of my time. sumer complaints about financial protected. Mr. MCHENRY. Madam Chair, I yield firms, reined in payday lenders, exam- My amendment responds to these myself the remainder of my time. ined mortgage and student loan concerns by ensuring that an expert in I commend my colleague for offering servicers, combated discrimination in consumer privacy is part of the mem- this amendment. I urge my colleagues lending, and held a number of bad ac- bership of the CFPB’s Consumer Advi- to support it. It is a reasonable step for tors accountable. sory Board. It will make sure that Congress to say, clearly, that data Under this administration, the these concerns are front and center at breaches, cybersecurity, and personal CFPB’s leadership ordered a number of the table as the board provides its ad- privacy matter. As a matter of public changes that weakened its ability to vice to the CFPB. policy, we need to be interested in it.

VerDate Sep 11 2014 02:28 May 23, 2019 Jkt 089060 PO 00000 Frm 00029 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.054 H22MYPT1 H4098 CONGRESSIONAL RECORD — HOUSE May 22, 2019 I would also urge my colleagues and families come under pressure from The Acting CHAIR. Without objec- reach out to the other side of the aisle scammers while they are in the midst tion, the gentleman from North Caro- for us to have a deeper conversation of a deployment. lina is recognized for 5 minutes. about cyber data and privacy. We need Just as an example of this, I was in There was no objection. to legislate in these areas. an infantry unit. I served in Afghani- Mr. MCHENRY. Madam Chair, this Without our taking action, we are al- stan and Iraq. I have known people who amendment will help ensure that serv- lowing the Europeans to set the global have actually taken the time, when icemembers, veterans, and their fami- standard, and we are allowing the Eu- they get that rare opportunity, to hop lies have representation on the CFPB’s ropean Union to set the standard for on to a sat phone. They should be call- Consumer Advisory Board. our data and privacy here in the United ing their family or a loved one, and in- As I stated with the previous amend- States. That is not appropriate. As stead they are calling to talk to a debt ment, I think it is fair and just for American policymakers, we should be collector because they had fallen vic- Congress to make the decision on who interested in legislating in a bipartisan tim to one of these scams, then had it should be members of the advisory way to achieve that type of data pri- turned over to a debt collector. By law boards, various agencies, and the vacy and cybersecurity that is nec- that is not supposed to happen, but too make-up of boards and commissions as essary for the American economy, not often servicemembers don’t know what well as for government. just in the short run, not just for the their rights are and what the law is, Congress’ action in the past ensures next election, but for the next genera- and they end up trying to deal with that men and women serving our Na- tion to make sure that they are safe this kind of a stress while in the midst tion do not fall victim to fraud and un- and secure. of a deployment to a place like Iraq. scrupulous lenders, and this amend- Madam Chair, I urge my colleagues We know it is not right. We need to ment is consistent with those efforts. to vote ‘‘yes.’’ I commend my colleague make sure struggling military families b 1500 can have resources that they can turn for raising this important issue, and I Moreover, I think there is a missed yield back the balance of my time. to for help. Unfortunately, these challenges don’t opportunity in this bill. Mr. BARR, my The Acting CHAIR. The question is colleague from Kentucky, offered an on the amendment offered by the gen- stop upon leaving the service either. According to a study done by the amendment before the Rules Com- tleman from Hawaii (Mr. CASE). mittee to this bill to say that the Mili- The amendment was agreed to. AARP, nearly eight in ten veterans re- port having received a scam attempt in tary Lending Act gives explicit author- AMENDMENT NO. 11 OFFERED BY MR. GOLDEN the last 5 years. I get them myself. I ity to the CFPB. That amendment was The Acting CHAIR. It is now in order get them in the mail. I get them from not made in order by the Rules Com- to consider amendment No. 11 printed people talking to me about my VA mittee. I think it was a bad decision. in part A of House Report 116–79. If my colleague supports defending Mr. GOLDEN. Madam Chairman, I home loan or education benefits and others, offering what sounds like a those in the military from unscrupu- have an amendment at the desk. lous action, I would encourage him to The Acting CHAIR. The Clerk will good deal, but we know it is not. Recognizing the vulnerability of vets cosponsor Mr. BARR’s amendment be- designate the amendment. cause it is conforming with his very The text of the amendment is as fol- and servicemembers to predatory lend- ers and other financial scams, Congress concern about making sure that mili- lows: created the Office of Servicemember tary families and veterans are pro- Page 36, line 20, after ‘‘communities,’’ in- Affairs at the CFPB. The office mon- tected. The Military Lending Act and sert ‘‘representatives of servicemembers, veterans, and their families,’’. itors complaints from servicemembers the supervisory authority to the CFPB and veterans and their families and is just the way to do that. The Acting CHAIR. Pursuant to takes appropriate action to protect I am supportive of that measure. It House Resolution 389, the gentleman them. should have bipartisan support and from Maine (Mr. GOLDEN) and a Mem- Since 2011 the CFPB has received ap- should have been made in order under ber opposed each will control 5 min- proximately 123,000 complaints from this amendment. utes. servicemembers, and the problem is So, both sides of the aisle have these The Chair recognizes the gentleman not improving; it is actually getting concerns. I am grateful that the gen- from Maine. worse. From 2016 to 2017, there was a 47 tleman from Maine and the gentleman Mr. GOLDEN. Madam Chair, I first percent increase in complaints received from Texas have offered a good amend- want to thank Chairwoman WATERS for from servicemembers. ment. her hard work and the hard work of the My amendment helps ensure that the Madam Chair, I urge my colleagues committee on behalf of American fami- CFPB can better protect veterans and to vote ‘‘yes,’’ and I reserve the bal- lies in Maine and across the country servicemembers from financial abuse, ance of my time. who have fallen victim to financial fraud, and scams. The provision opens Mr. GOLDEN. Madam Chair, I will go schemes. up CFPB’s Consumer Advisory Board ahead and close and leave it to the gen- I rise today to offer my amendment to a representative veteran from the tleman to close on his end. on behalf of military servicemembers military community and the veterans’ This amendment will help service- and veterans and their families. One of community. members, veterans, and their families the challenges that military men and The advisory board is a critical part make sure that they are protected fi- women face are countless financial of CFPB’s role as a watchdog for con- nancially and give them a voice at the scams that exist in the financial mar- sumers. They inform CFPB about table. I encourage my colleagues to ketplace. Travel just outside of a mili- emerging trends, they share analysis support it. I thank the ranking mem- tary base, Madam Chair, and there will and recommendations for action and ber for encouraging his colleagues to be payday lenders with high interest policies, and they assess the consumer support it as well. rates, title loan companies, and supple- impact of emerging financial products, I would be happy to talk to our col- mental life insurance schemes all look- practices, and services. league from Kentucky about ways in ing for their next target. Putting a family member of a serv- which we can work together to protect Military personnel who are dis- icemember or a veteran on the advi- our servicemembers and veterans. I tracted by financial problems created sory board will ensure that CFPB is know we are all in on that together, to by these schemes cannot focus on doing better informed of new and emerging do the best that we can for our service- their jobs to the best of their abilities. scams and tactics targeting service- members and veterans. If the problems get out of hand, they members and veterans so that we are Madam Chair, I thank the ranking can even end a military career. On av- better able to protect them. member, the chairwoman, and the en- erage, thousands of servicemembers are Madam Chair, I reserve the balance tire committee for their support, and I separated each year from the military of my time. yield back the balance of my time. for financial hardship and other issues Mr. MCHENRY. Madam Chair, I Mr. MCHENRY. Madam Chair, I urge related to these types of schemes. Even claim the time in opposition, although a ‘‘yes’’ vote, and I yield back the bal- worse, many servicemembers or their I am not opposed. ance of my time.

VerDate Sep 11 2014 02:33 May 23, 2019 Jkt 089060 PO 00000 Frm 00030 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.057 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4099 The Acting CHAIR. The question is And they can share key industry in- ‘‘(A) an analysis, in coordination with the on the amendment offered by the gen- sight to help CFBP ensure vets and Office of Financial Protection for Older tleman from Maine (Mr. GOLDEN). servicemembers are protected as they Americans, of consumer complaints from The amendment was agreed to. move through financial systems. older Americans, including a State-by-State breakdown of complaints by type of con- AMENDMENT NO. 12 OFFERED BY MS. ESCOBAR On a personal note, I share my home, sumer financial product or service; and The Acting CHAIR. It is now in order El Paso, with nearly 50,000 veterans ‘‘(B) any legislative or regulatory rec- to consider amendment No. 12 printed and am neighbors with more than 45,000 ommendations the Director may have to im- in part A of House Report 116–79. military and civilian personnel at Fort prove consumer protections for older Ameri- Ms. ESCOBAR. Madam Chair, I have Bliss. At Fort Bliss, we also train units cans. an amendment at the desk. from every U.S. State and territory, so ‘‘(2) OLDER AMERICANS DEFINED.—In this subsection, the term ‘older Americans’ The Acting CHAIR. The Clerk will our amenities end up benefiting many outside our immediate community means individuals who have attained the age designate the amendment. of 62 years or more.’’. over time. The text of the amendment is as fol- Page 40, line 9, strike ‘‘SEC. 9’’ and insert lows: Communities like ours deserve to be ‘‘SEC. 10’’. heard, and my amendment will help en- Page 39, line 24, strike ‘‘AND’’ and insert a The Acting CHAIR. Pursuant to sure that that happens. comma. House Resolution 389, the gentleman Madam Chair, I urge my colleagues Page 39, line 25, insert before the period from Colorado (Mr. NEGUSE) and a AND MILITARY AND VET to support this amendment, and I re- the following: ‘‘, - - Member opposed each will control 5 ERAN-SERVING FINANCIAL INSTITUTIONS’’. serve the balance of my time. minutes. Page 40, line 4, strike ‘‘and’’ and insert a Mr. MCHENRY. Madam Chair, I rise The Chair recognizes the gentleman comma. in opposition to the amendment, from Colorado. Page 40, line 4, after ‘‘businesses’’ insert though I am not opposed. the following: ‘‘, and military- and veteran- Mr. NEGUSE. Madam Chair, I first The Acting CHAIR. Without objec- serving financial institutions’’. want to join my colleagues in thanking tion, the gentleman from North Caro- Chairwoman WATERS for her leadership The Acting CHAIR. Pursuant to lina is recognized for 5 minutes. for so many years and, in particular, House Resolution 389, the gentlewoman There was no objection. SCOBAR her leadership in bringing this bill to from Texas (Ms. E ) and a Mem- Mr. MCHENRY. Madam Chair, this ber opposed each will control 5 min- amendment will direct the CFPB to ap- the floor. utes. point representatives of the military- We are here today to reinstate the The Chair recognizes the gentle- and veteran-serving financial institu- powers of the Consumer Financial Pro- woman from Texas. tions to advisory committees. It is an- tection Bureau, which have been se- Ms. ESCOBAR. Madam Chair, I yield other step in ensuring servicemembers, verely weakened, and it includes the myself such time as I may consume. veterans, and their families have a curtailing of enforcement of fair lend- Madam Chair, I would like to thank voice in consumer protection. ing laws and removing a standalone of- Congresswoman WATERS for her incred- Military- and veteran-serving finan- fice on student loans. We must ensure, ible work and leadership on this bill, cial institutions are unique and can however, that our elderly population is which will help restore trust in Federal provide the CFPB advisory boards with included in this debate. We must not consumer protections and ensure those insights into the biggest risks facing leave our elderly behind. protections extend to all communities. veterans, servicemembers, and their My amendment is simple and I also thank my colleague, Rep- families. straightforward. It will require the Di- resentative GOLDEN, for cosponsoring I do concur that there should be more rector of the Consumer Financial Pro- my amendment. This amendment military representation across all tection Bureau to issue an annual re- would direct CFPB to include rep- fronts at the CFPB and across the gov- port to Congress of consumer com- resentatives of military- and veteran- ernment. plaints from older Americans, includ- serving financial institutions in their Madam Chair, I ask my colleagues to ing a State-by-State breakdown of advisory committees. support this amendment, and I reserve complaints by type of consumer finan- There are over 18 million veterans in the balance of my time. cial product or service. America today and nearly 3 million De- Ms. ESCOBAR. Madam Chair, I have Madam Chair, studies show that peo- partment of Defense employees. Many no further speakers or comments. I ple 50 and older hold 83 percent of the in these communities choose to bank urge all of my colleagues to support wealth in the United States. However, with financial institutions that cater my amendment and the underlying these same individuals, who grew up in to their unique needs. These over 20 bill, and I yield back the balance of my a workforce very different than the million Americans deserve a voice at time. evolving, technologically driven one of the CFPB from technical experts who Mr. MCHENRY. Madam Chair, I urge today and who are experiencing aging know how to best serve our veterans a ‘‘yes’’ vote, and I yield back the bal- health disparities, are prime targets and military. ance of my time. for scammers. This has resulted in our We know that many military mem- The Acting CHAIR. The question is seniors losing anywhere from $2.9 bil- bers pick a financial institution and on the amendment offered by the gen- lion to $36 billion each year from finan- stick with it. That is because these or- tlewoman from Texas (Ms. ESCOBAR). cial exploitation. ganizations have the skills and experi- The amendment was agreed to. Having served as the director of my ence to help servicemembers with chal- State’s, Colorado’s, Department of AMENDMENT NO. 13 OFFERED BY MR. NEGUSE lenging circumstances, like frequent Regulatory Agencies in the past, I had The Acting CHAIR. It is now in order moves and deployments, that the aver- the honor of working on behalf of Colo- to consider amendment No. 13 printed age civilian customer won’t face. radans to protect them from unfair, de- in part A of House Report 116–79. These organizations help support our ceptive, and fraudulent business prac- Mr. NEGUSE. Madam Chair, I have veterans and military at critical life tices. We certainly saw many of these an amendment at the desk. moments, providing early capital to practices up close. The Acting CHAIR. The Clerk will help start a business, helping finance a While I am proud that our depart- designate the amendment. new home, and even partnering with ment was able to recover millions of The text of the amendment is as fol- educational institutions to provide dollars for consumers across Colorado, lows: technical assistance to veteran entre- including senior citizens, we must do preneurs. Page 40, after line 8, insert the following: more. In an era of sophisticated tar- They know the unique needs and con- SEC. 9. REPORT ON SENIOR CONSUMERS. geting of our seniors, we must act, and cerns of their clientele, including iden- Section 1016 of the Consumer Financial I certainly believe that is the case at Protection Act of 2010 (12 U.S.C. 5496) is tity theft during deployments, VA loan amended by adding at the end the following: the Federal level. issues, and improper credit reflections ‘‘(d) REPORT ON SENIOR CONSUMERS.— So, in a world in which we continue that occur when the VA experiences ‘‘(1) IN GENERAL.—The Director shall issue to hear of calculated financial fraud administrative delays. an annual report to Congress containing— and various data breaches, I believe we

VerDate Sep 11 2014 02:33 May 23, 2019 Jkt 089060 PO 00000 Frm 00031 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.061 H22MYPT1 H4100 CONGRESSIONAL RECORD — HOUSE May 22, 2019 should be working to protect all con- ‘‘(C) seek to appoint individuals involved Our small business owners contribute sumers, not making it easy for bad ac- in the industries affected by the Bureau, in- so much to our communities, and they tors to take advantage of them, in par- cluding individuals who represent commu- have a finger on the pulse of our econ- ticular, making sure that we protect nity banks, credit unions, small business omy more than anyone else. We should owners, or experts in United States economic vulnerable populations. growth and jobs.’’. welcome the expertise of these key Madam Chair, that is why I encour- stakeholders at the CFPB as they con- The Acting CHAIR. Pursuant to age my colleagues to support this im- tinue to do incredible work for the House Resolution 389, the gentlewoman portant amendment, and, with that, I American people and our economy. from Michigan (Ms. STEVENS) and a reserve the balance of my time. I urge my colleagues to support this Member opposed each will control 5 Mr. MCHENRY. Madam Chair, I rise amendment. minutes. in opposition, though I am not opposed Madam Chair, I reserve the balance The Chair recognizes the gentle- to the amendment. of my time. woman from Michigan. Mr. MCHENRY. Madam Chair, I The Acting CHAIR. Without objec- Ms. STEVENS. Madam Chair, I rise claim time in opposition to the amend- tion, the gentleman from North Caro- today in support of my amendment to ment, although I am not opposed. lina is recognized for 5 minutes. H.R. 1500, the Consumers First Act. The Acting CHAIR. Without objec- There was no objection. The Consumer Financial Protection tion, the gentleman from North Caro- Mr. MCHENRY. Madam Chair, older Bureau is an essential agency that has lina is recognized for 5 minutes. consumers are undoubtedly at the protected millions of consumers and There was no objection. highest risk of becoming the victims of put more than $12 billion back in Mr. MCHENRY. Madam Chair, the financial crimes. That is the unfortu- Americans’ pockets. gentlewoman from Michigan has of- nate case that we are facing today. I worked in the Obama administra- fered an amendment that will help en- That is why, earlier this month, the tion, in the United States Department sure the Consumer Advisory Board has House passed multiple pieces of legisla- of the Treasury, when the CFPB was a balanced perspective by including in- tion to highlight the issues of elder fi- first established in the wake of the fi- dividuals who represent community nancial abuse and the mechanisms to nancial crisis and saw firsthand how banks, credit unions, and small busi- combat it. this agency has grown to serve as a ness owners, or economic growth ex- The statistics on senior citizens who force for accountability, transparency, perts. are exposed to financial exploitation and fairness on behalf of working Community banks, credit unions, and are shocking. Older Americans lose ap- Americans. That is why it is so impor- small businesses are disproportionately proximately $36.5 billion each year to tant to restore and protect the CFPB affected by heightened regulatory bur- financial crimes, scams, and abuse. One from the attempts to weaken this crit- dens. in five seniors have reported being vic- ical agency. Dodd-Frank imposed 4,000 new Fed- tims of exploitation, and only 1 in 44 My amendment to the Consumers eral regulations on financial institu- cases of financial abuse are reported. First Act ensures that community tions, including smaller institutions The gentleman from Colorado has of- banks, credit unions, small business that lack the resources of larger ones. fered an amendment that will require owners, or economic growth experts As a result of that, we have seen the the CFPB to study and report on con- are appointed to serve as members of decline of nearly 2,000 banks, from sumer complaints filed by older Ameri- the Bureau’s Consumer Advisory about 6,400 banks at the end of 2010, to cans and recommend legislative or reg- Board. ulatory actions to enhance consumer The Consumer Advisory Board is a the end of last year, that number was protections to those citizens. resource for the CFPB, providing the 4,600. This is a significant issue for This amendment would increase agency with expertise, analysis, and community financial institutions, the transparency and allow the CFPB to recommendations. weight of regulation. identify trends in elder financial abuse. We must keep the channels open to The number of credit unions has also Those insights could be used and can be small businesses, smaller banks, credit declined by nearly 3,000 over a similar used to protect senior citizens. unions, and community advocates. period of time, down to 5,600. Madam Chair, I urge my colleagues This amendment gives community-ori- While community banking organiza- to vote ‘‘yes.’’ I thank my colleague for ented small businesses a seat at the tions, such as credit unions and small offering a good amendment, and I re- table when it comes to the CFPB’s de- community banks, represent 17 percent serve the balance of my time. cisionmaking, while furthering the of all U.S. bank assets, they make up Mr. NEGUSE. Madam Chair, I thank goal of ensuring our financial system nearly half of all small business loans. the ranking member for his remarks, works for everyone. Small businesses account for over half for articulating the need for this We need that on-the-ground informa- of all U.S. employment, and nearly amendment, and for his support. I very tion. We need to hear from our small two-thirds of all employment growth much appreciate it. businesses. over the last decade. Madam Chair, I yield back the bal- In my district, credit unions and These institutions fuel our economy ance of my time. community banks offer helpful re- and spur job growth. They deserve a Mr. MCHENRY. Madam Chair, I urge sources to individual borrowers as they seat at the table. a ‘‘yes’’ vote, and I yield back the bal- look to purchase a home, start a small I commend my colleague from Michi- ance of my time. business, or expand a manufacturing gan for offering this amendment. The Acting CHAIR. The question is order. Madam Chair, I reserve the balance on the amendment offered by the gen- These institutions have invaluable of my time. tleman from Colorado (Mr. NEGUSE). knowledge that we should take advan- Ms. STEVENS. Madam Chair, I The amendment was agreed to. tage of as we work to protect con- thank my colleague from North Caro- lina for his celebratory remarks. This AMENDMENT NO. 14 OFFERED BY MS. STEVENS sumers from fraud and abuse. The Acting CHAIR. It is now in order My district, Michigan 11, is also is an important day in Congress be- to consider amendment No. 14 printed home to several thousand small busi- cause this is the role that we play; in part A of House Report 116–79. nesses, including manufacturers and overseeing agencies, strengthening Ms. STEVENS. Madam Chair, I have the country’s most robust automotive their work and delivering for the an amendment at the desk. supply chain. American people. I have got to applaud our chair- The Acting CHAIR. The Clerk will b 1515 designate the amendment. woman of Financial Services for the The text of the amendment is as fol- We have got retail, we have got res- Consumer Financial Protection Bureau lows: taurants, and we have the capability to work that she has done, particularly Page 36, line 25, strike ‘‘and’’. continue to unlock the channels of in- with this act. It is long overdue. Page 37, line 7, strike the period and insert novation, but we need a CFPB that We are thrilled to introduce this ‘‘; and’’. works for us, and we need the voice of amendment that will bring the voice of Page 37, after line 7, insert the following: the small business at the table. small business to the table.

VerDate Sep 11 2014 02:33 May 23, 2019 Jkt 089060 PO 00000 Frm 00032 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.064 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4101 Madam Chair, I yield back the bal- The Acting CHAIR. Pursuant to For example, this amendment would ance of my time. House Resolution 389, the gentleman show if student loan servicers are mak- Mr. MCHENRY. Madam Chair, I yield from California (Mr. DESAULNIER) and ing it easy for their customers to recer- myself the balance of my time. a Member opposed each will control 5 tify their incomes for their repayment As I said, small community financial minutes. plans. We know that this is a common institutions have been disproportion- The Chair recognizes the gentleman roadblock to successful repayment. ately affected by the regulatory burden from California. This amendment would simply re- of Dodd-Frank, which has driven small Mr. DESAULNIER. Madam Chair, quire the CFPB to fulfill their statu- community banks to either merge, or first of all, let me recognize the chair tory duty and provide needed oversight go out of business. Likewise, the same of the committee, my friend from Cali- and transparency of this important in- for credit unions. fornia, for her steadfast work to defend dustry. Everybody should agree that So for them to have a seat at the American consumers. more information, in this instance in table at the CFPB, I think, is right, Madam Chair, students are in a dif- particular, is in everyone’s interest and fair, and appropriate. I appreciate my ficult situation nowadays in the knowl- everyone’s interest in the future of this colleague from Michigan offering this. edge-based economy, where we are told country and future generations. I support the amendment, and I urge over and over again that America, to Madam Chair, I reserve the balance my colleagues to vote ‘‘yes.’’ be competitive, has to have an edu- of my time. Madam Chair, I yield back the bal- cated workforce, and we need more and Mr. MCHENRY. Madam Chair, I ance of my time. more young people to go into college claim the time in opposition. The Acting CHAIR. The question is and then to graduate school; not to say The Acting CHAIR. The gentleman on the amendment offered by the gen- that we don’t have needs for people to from North Carolina is recognized for 5 tlewoman from Michigan (Ms. STE- get out of high school and go into ca- minutes. Mr. MCHENRY. Madam Chair, I am VENS). reer tech. opposed to the amendment. I appre- The question was taken; and the Act- But these generations are burdened ciate the gentleman’s interest in this ing Chair announced that the ayes ap- with unbelievable student loans, and issue, but I have concerns with this peared to have it. they are also burdened with, in urban Ms. STEVENS. Madam Chair, I de- amendment. areas, high housing costs and also Before I get into the substance of the mand a recorded vote. lower wage expectations. We have to amendment, I do want to remind my The Acting CHAIR. Pursuant to fix this; and one way to fix it is to have colleagues that the Democrat major- clause 6 of rule XVIII, further pro- more oversight and performance stand- ity, in 2009 and 2010, passed through the ceedings on the amendment offered by ards for those companies, those for- House and the Senate, and got signed the gentlewoman from Michigan will profit companies, in particular, that by the President, the nationalization of be postponed. control 93 percent of the market of the student loan industry, giving it to AMENDMENT NO. 15 OFFERED BY MR. Federal student loans. the Department of Education to admin- DESAULNIER Madam Chair, 44 million Americans ister. The Acting CHAIR. It is now in order hold an estimated $1.5 trillion in stu- Knowing their limitations, the De- to consider amendment No. 15 printed dent debt. Over 1 million borrowers de- partment of Education, at the time, in part A of House Report 116–79. faulted on their student loans last contracted with loan servicers that are Mr. DESAULNIER. Madam Chair, I year. private enterprises, but under the di- have an amendment at the desk. Default is a financially devastating rection and the regulatory enforcement The Acting CHAIR. The Clerk will event that affects the individuals many of the Department of Education. designate the amendment. times for the rest of their lives, as it Now, the Democrat majority is un- The text of the amendment is as fol- affects their credit standing and also happy, and the Federal Government is lows: their ability to get a house, and to get crushing an entire generation with Page 33, line 15, strike the quotation a good job. Default is a financially-dev- debt by the decision they made to help marks and final period and insert after such astating event, as I said. pay for the ACA or ObamaCare. line the following: In the past decade, the Federal Gov- To get to the substance of the ‘‘(5) COLLECTION OF STUDENT LOAN SERVICER ernment created several repayment amendment, this amendment would re- DATA.— plans designed to assist borrowers in fi- ‘‘(A) IN GENERAL.—The Assistant Director quire loan servicers to submit consider- and Student Loan Ombudsman shall require nancial distress, but the default rate able data to the CFPB, data that they each servicer of student loans to submit an remains stubbornly high. are already submitting to their pri- annual report to the Assistant Director with One major reason is the student loan mary regulator, the Department of information regarding the servicer’s loan servicing industry. These for-profit Education. portfolio, including data regarding the fol- companies operate with little oversight I am troubled by the sheer volume of lowing: nor accountability. information that would be collected ‘‘(i) The size of the servicer’s portfolio. Evidence shows that servicers often and by the lack of definitive guardrails ‘‘(ii) The repayment status of unique ac- provide inaccurate information and in- around what the CFPB can and cannot counts. adequate customer service, making the ‘‘(iii) Borrower-initiated and servicer-initi- collect. ated contacts, and the outcome of each such already complicated process of enroll- We had an amendment before that contact. ing in the correct repayment plan close said we need to have on the Advisory ‘‘(iv) Income-driver repayment applica- to impossible. Committee a privacy expert. Well, this tions and recertifications. My amendment would simply require amendment runs counter to this need ‘‘(v) Any other data the Assistant Director the Consumer Financial Protection Bu- for us to have enhanced privacy stand- and Student Loan Ombudsman determines reau to collect and publish data from ards for those that are seeking loans, necessary to carry out the functions of the student loan servicers, providing a and enhanced privacy standards for in- Office of Students and Young Consumers. first-ever look at how these companies dividuals in society, because this would ‘‘(B) REPORT.—The Assistant Director and Student Loan Ombudsman shall include, in perform at serving American con- now require a second area of govern- each report required under section 1035(d)(1), sumers. That is important. ment to collect data, sometimes a description of the information collected These are basic performance stand- counter to what the Department of under this paragraph, along with any find- ards that I would think all of my col- Education would suggest is the right ings or determinations the Assistant Direc- leagues across the aisle would want in and proper data to collect. tor made with respect to such information. any business practice—particularly for- The Department of Education has au- ‘‘(C) GUIDANCE.—Not later than 90 days profit companies—they would want thority over student loan servicing, after the enactment of this subsection, the performance standards for them, if and that work is performed on the De- Bureau shall issue guidance to student loan servicers to facilitate the data collection re- they are publicly-traded they would partment’s behalf under its regulation. quired under this paragraph.’’. want them for the shareholders and, And the servicers fall under the De- Page 40, line 8, after the second dollar fig- most importantly, for American con- partment of Education’s regulatory au- ure insert ‘‘(decreased by $10,000,000)’’. sumers and students. thority broadly.

VerDate Sep 11 2014 02:45 May 23, 2019 Jkt 089060 PO 00000 Frm 00033 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.067 H22MYPT1 H4102 CONGRESSIONAL RECORD — HOUSE May 22, 2019 While I support the spirit of this ‘‘(d) REPORT ON PAYDAY LOAN AND CAR- Congress quarterly the number of in- amendment that was offered, I ask my TITLE LOAN INVESTIGATIONS AND ENFORCE- vestigations opened and closed relating colleagues to oppose it. MENT ACTIONS.—The Director shall issue a to payday and car title lenders. Madam Chair, I reserve the balance quarterly report to Congress containing— It requires an oversight report every ‘‘(1) the number of investigations opened quarter on the number of enforcement of my time. and closed by the Bureau relating to payday Mr. DESAULNIER. Madam Chair, loans and car-title loans; actions, an estimate of how much in just briefly, while I respect some of the ‘‘(2) the number of enforcement actions fees payday or car title customers pay, issues brought up by my colleague, I do that have been taken or referred relating to how many times in the previous 12 think, if the data is already there and payday loans and car-title loans; months payday customers rolled over they are supplying it for the Depart- ‘‘(3) an estimate of the amount of fees cus- their loans, and how many car title ment of Education, we should make it tomers have paid relating to payday loans loan borrowers lost their cars in the relatively easy for the Consumer Pro- and car-title loans; previous 12 months. tection Bureau to get that same infor- ‘‘(4) an estimate of the number of times in Madam Chair, we have a responsi- the previous 12 months a typical payday loan bility to tackle this debt trap crisis mation and, if needed, get more. customer has rolled over their loan; and As a former business owner, these are ‘‘(5) an estimate of how many car-title loan that is set up for more profits for cor- the kind of performance standards I customers lost their car in the previous 12 porations but leaves the American peo- would not be afraid to show to my cli- months.’’. ple in financial despair with no escape. ents; and I would think that Congress Page 40, line 9, strike ‘‘SEC. 9’’ and insert In Michigan, predatory lenders are and the American people, considering ‘‘SEC. 10’’. looking to squeeze money out of low- the importance of this investment, at a The Acting CHAIR. Pursuant to income people with deceptive and abu- minimum, would require these kind of House Resolution 389, the gentlewoman sive practices and have, unfortunately, performance standards. from Michigan (Ms. TLAIB) and a Mem- found a steady stream of business back So I would hope that Members on ber opposed each will control 5 min- home in our districts. both sides of the aisle would support utes. Taking advantage of people in dif- the effort in a spirit of transparency, The Chair recognizes the gentle- ficult situations is immoral, but com- and performance standards for pri- woman from Michigan. panies continue to stretch and break vately-held companies. Ms. TLAIB. Madam Chair, I am proud the law for an extra buck, regardless of Madam Chair, I yield back the bal- to be a supporter of H.R. 1500, the Con- the human cost. ance of my time. sumers First Act. The act ensures that In my district, Detroiters with pay- Mr. MCHENRY. Madam Chair, in the Consumer Financial Protection Bu- day loans are more likely to file for closing, this amendment is not prac- reau serves its statutory purpose of bankruptcy, be evicted, or face utility tical. It should be offered when we re- protecting consumers from unfair, abu- shutoffs than any other Detroiter with- authorize the Department of Edu- sive practices, and holding greedy cor- out payday loans. cation. I would support it if it is man- porations accountable when they take Madam Chair, I say to my colleagues, dated on the part of the Department of advantage of people in our commu- these numbers are not unique to the Education to collect this data, which is nities. State of Michigan. Our constituents the right regulator of this nationalized The residents of the 13th District in are being harmed by these abusive, industry of making student loans. Michigan are charged a whopping 369 greedy practices, and we have to make Rather than collecting more data, percent APR rate by payday lenders. sure we have all the information we what we need to do is get into the ac- According to the Center for Respon- need to take action and protect our tion of fixing the problem of student sible Lending, payday loans drain over families. We know that many consumers who debt. We need to make sure we have $4.1 billion in fees a year from people in are forced to get high-interest, high- more choices for students, better com- 35 States that allow triple digit inter- fees payday loans are targeted low-in- munication with students, and a better est rates for payday loans. Car title come families. Many are taken advan- understanding of the consequences of loans drain over $3.8 billion in fees an- tage of because they have relatively this massive debt load. nually from people in 22 States. few other places to turn. We can collect all the data we want, Madam Chair, together, these loans but the Federal Government will even- According to the New York Fed, drain nearly $8 billion in fees every more Americans than ever were at tually have to take responsibility for year, money that should be going to these bad actions we have taken to sad- least 3 months behind on their auto pay rent or buy groceries. Instead, it is loans, and it said delinquencies were dle a generation with student debt that going to line the pockets of predatory they cannot afford. I urge my col- worsening among subprime borrowers. lenders who are making record profits. Auto debt is now nearing $1.3 trillion. leagues to oppose this amendment. Across Michigan, 600 payday lending Madam Chair, I yield back the bal- Madam Chair, many of our constitu- storefronts each issue 3,000 loans a ents are a missed payday or a family ance of my time. year. Most of those loans are used by a The Acting CHAIR. The question is emergency away from being forced to borrower to repay their prior loans; rely on payday loans or missing an on the amendment offered by the gen- and 90 percent of these loan borrowers tleman from California (Mr. auto payment. Many are already in in Michigan re-borrow within 60 days. that position. It is our job to make DESAULNIER). This is why I am offering an amend- The amendment was agreed to. sure we have the information necessary ment that ensures that our residents in this body to protect them. AMENDMENT NO. 16 OFFERED BY MS. TLAIB are protected from predatory lending Madam Chair, this amendment The Acting CHAIR. It is now in order in the payday and auto loan industries. strengthens consumer protection, and I to consider amendment No. 16 printed This amendment will provide those of encourage my colleagues to support it. in part A of House Report 116–79. us in Congress with the information Madam Chair, I reserve the balance Ms. TLAIB. Madam Chair, I have an necessary to know how these industries of my time. amendment at the desk. are operating and how our residents Mr. MCHENRY. Madam Chair, I rise The Acting CHAIR. The Clerk will are being impacted directly. in opposition to the amendment. designate the amendment. A doctor can’t treat a disease with- The Acting CHAIR. The gentleman The text of the amendment is as fol- out the necessary lab work or research. from North Carolina is recognized for 5 lows: This also applies to our ability, as pub- minutes. Page 40, line 8, after the second dollar fig- lic servants, to push back against these Mr. MCHENRY. Madam Chair, I ure insert ‘‘(decreased by $10,000,000)’’. loans being offered in all corners of our would ask the author for a point of Page 40, after line 8, insert the following: communities that push our residents clarification. SEC. 9. REPORT ON PAYDAY LOAN AND CAR- As I read it, the amendment requires TITLE LOAN INVESTIGATIONS AND more into poverty. quarterly reporting to Congress. Is ENFORCEMENT ACTIONS. b 1530 Section 1016 of the Consumer Financial that correct? Protection Act of 2010 (12 U.S.C. 5496) is This payday lending amendment Ms. TLAIB. Will the gentleman amended by adding at the end the following: would require the CFPB to report to yield?

VerDate Sep 11 2014 02:45 May 23, 2019 Jkt 089060 PO 00000 Frm 00034 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.069 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4103 Mr. MCHENRY. I yield to the gentle- be aware that this is about a quarterly existed on the day before the date of enact- woman from Michigan. report regarding those changes. This is ment of Public Law 115–74, except the Bureau Ms. TLAIB. Yes. not an annual report. shall specify that the rule takes effect after Mr. MCHENRY. Am I to read it cor- Madam Chair, I reserve the balance the end of the 60-day period beginning on the rectly that that quarterly report is date such rule is reissued. of my time. Page 40, line 8, after the second dollar fig- supposed to give 12 months of data? Mr. MCHENRY. Madam Chair, I am ure insert ‘‘(decreased by $10,000,000)’’. Ms. TLAIB. Correct. prepared to close, and I reserve the bal- The Acting CHAIR. Pursuant to Mr. MCHENRY. Okay. Madam Chair, ance of my time. House Resolution 389, the gentleman I thank the gentlewoman for clari- Ms. TLAIB. Madam Chair, I do want fying. from Texas (Mr. GREEN) and a Member to note the burden outweighs the cost opposed each will control 5 minutes. Madam Chair, looking at this, that on our residents back home. means that on a quarterly basis, it is The Chair recognizes the gentleman We need to be able to know exactly from Texas. an annual report. It is a bit clunky. what is happening on the ground at Mr. GREEN of Texas. Madam Chair, I What we already see with the issues home in regard to these kinds of prac- am honored to present amendment No. of payday and car title lenders, we tices and abusive behavior by payday 17, which deals with consumer choice. know that those are State-regulated lenders. It deals with whether consumers will products, but we also know, according We as a body need transparency and be forced into arbitration or whether to the Bureau’s 2018 Consumer Re- understanding of what is going through they will have the choice of having ar- sponse Annual Report, payday loans the CFPB, and we are not able to rem- bitration or litigation. account for 0.7 percent of consumer edy these challenges for our residents With litigation, the consumer can complaints, title loans account for 0.2 without that information. have the choice of having the case pre- percent of consumer complaints. This Madam Chair, I hope that we can sented as one person or as part of a is less than 1 percent of the consumer agree this is a bipartisan issue. This group. complaints the CFPB already deals would impact a majority of our States This amendment is one that the with. across this Nation. Dodd-Frank Wall Street Reform Act The issues of reporting here, if this Madam Chair, again, I hope I can get called to our attention by way of a were merely an annual report to repo- some support from my good colleague, study that was required. sition the data that they put out on an and I yield back the balance of my After performing the study, the annual basis, I would not see that as a time. CFPB issued a final rule to regulate burden or a major cost to the CFPB, the use of mandatory arbitration Mr. MCHENRY. Madam Chair, in my but doing an annual report on a quar- reading of the bill, I would suggest that clauses. In so doing, it was something terly basis would be more costly. that we believed would have been bene- when it says, ‘‘the Director shall issue While I am not opposed to this data ficial to consumers. Yet, before the a quarterly report to Congress con- being made public—I do think that rule could take effect, it was rescinded taining,’’ and then in subsections 4 and would be additive to the public—the by Congress in November 2017. 5 it says 12 months of data, that 12 fact that this is a quarterly filing for My amendment offers a direct, months is—I don’t want to be snarky an annual report, I don’t think that straightforward solution. It simply re- about it, but 12 months is a year. that is going to be quite as sensible as instates the CFPB final rule, a rule So on a quarterly basis, CFPB has to it otherwise could be. that was the product of a careful study. Moreover, if you look at the Con- provide 12 months of data. That is what It was analyzed properly. It was done sumer Response Annual Report on the I mean by on a quarterly basis CFPB by way of stakeholder consensus. consumer complaints to the CFPB, 80 has to provide an annual report. My belief is that this rule will rein- percent of those consumer complaints Twelve months being a year, a year state a law that will give consumers revolve around the credit reporting being annual, filing yearly is annual. choice as opposed to forced administra- agencies and credit repair firms. I don’t mean to be completely snarky tion. I think we should be focused on that, about it, but I think if we simply had Madam Chair, I yield 1 minute to the as a policy matter. I think there is bi- an annual report, this would be a much gentleman from Pennsylvania (Mr. partisan consensus that the credit re- better structured amendment. CARTWRIGHT). porting agencies need to undergo a Madam Chair, while I oppose the Mr. CARTWRIGHT. Madam Chair, I change in the law by which they must amendment, I do so reluctantly. thank my colleague from Texas (Mr. abide to make sure that consumers are Madam Chair, I yield back the bal- GREEN) for yielding. Madam Chair, I rise in support of the protected and their data is protected. ance of my time. Green amendment. This is bipartisan work that I hope The Acting CHAIR. The question is on the amendment offered by the gen- Madam Chair, to the Members of this Chairwoman WATERS and I can engage House, when we file into this room, we in this Congress. We have raised simi- tlewoman from Michigan (Ms. TLAIB). The amendment was agreed to. file past a three-times-life-size statue lar concerns about credit reporting of Thomas Jefferson, one of our Found- AMENDMENT NO. 17 OFFERED BY MR. GREEN OF agencies in the past, and I do think ers in this Nation. And Jefferson said TEXAS there is an opportunity for us to have he considered a trial by jury ‘‘as the The Acting CHAIR. It is now in order bipartisan legislating that protects the only anchor, ever yet imagined by to consider amendment No. 17 printed consumer. man, by which a government can be in part A of House Report 116–79. Madam Chair, I commend my col- held to the principles of its constitu- league from Michigan for offering this. Mr. GREEN of Texas. Madam Chair, I tion.’’ I know this is a major issue in Michi- have an amendment at the desk. Trial by jury was that important to gan and a major issue for the question The Acting CHAIR. The Clerk will Thomas Jefferson that he said it was of car insurance, the cost of car insur- designate the amendment. that important. ance as well, and a number of other The text of the amendment is as fol- DANIEL WEBSTER, who is quoted up issues that I know that she seeks to lows: here on our wall, said, ‘‘The law: It has remedy for her constituents. Page 31, after line 5, insert the following: honored us.’’ Let us honor it by exe- Madam Chair, I appreciate the gen- (g) RESTORATION OF RULE PROHIBITING cuting it in its fullest severity. tlewoman raising this concern to us as FORCED ARBITRATION IN CONSUMER CON- How do we do that? We allow jury a body, but I respectfully oppose the TRACTS.— trials for American citizens. amendment. (1) REPEAL OF JOINT RESOLUTION.—Public We teach our children account- Madam Chair, I reserve the balance Law 115–74 is hereby repealed. ability, responsibility, being account- (2) RESTORATION OF RULE.—Not later than of my time. the end of the 3-day period beginning on the able for your actions. The way to do it Ms. TLAIB. Madam Chair, I do want date of enactment of this Act, the Consumer in America is to allow jury trials to de- to clarify to my good colleague that Financial Protection Bureau shall reissue cide who is at fault. this is not an annual report. the final rule of the Bureau specified in Pub- Mr. GREEN of Texas. Madam Chair, I We want to know, every quarter, lic Law 115–74 (relating to ‘‘Arbitration yield 1 minute to the gentleman from changes in payday complaints. So just Agreements’’) in the same form as such rule Texas (Mr. DOGGETT).

VerDate Sep 11 2014 02:45 May 23, 2019 Jkt 089060 PO 00000 Frm 00035 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.073 H22MYPT1 H4104 CONGRESSIONAL RECORD — HOUSE May 22, 2019 Mr. DOGGETT. Madam Chair, I rise It does not deny the business owner, or effect. That means, moreover, that a only to commend the gentleman from the credit card company, or the bank rule similar to that can no longer be Texas for his important work on this the opportunity to have arbitration. written going forward. That is under arbitration issue. What it does is it allows the consumer the Congressional Review Act. There has been a very effective move- to have the choice to either elect to This amendment serves as little more ment to quash the rights of consumers. have arbitration or to go to litigation, than a payday for plaintiffs’ attorneys. In the financial services area, people and when litigating, the consumer can Madam Chair, I urge my colleagues are told to deal with it. litigate as an individual. to vote ‘‘no,’’ and I yield back the bal- Our colleague HANK JOHNSON has the b 1545 ance of my time. Forced Arbitration Injustice Repeal The Acting CHAIR. The question is When I was a judge of a small claims Act as it relates to nursing homes and on the amendment offered by the gen- court, I had many persons who were employment. Our colleague KATHERINE tleman from Texas (Mr. GREEN). litigating their cases before me. I also CLARK has a bill to repeal these arbi- The question was taken; and the Act- understand that there are times when tration restrictions with reference to ing Chair announced that the ayes ap- people believe that they should have discrimination on the basis of sex and peared to have it. lawyers to represent them. It is not un- sexual harassment in the workplace. Mr. MCHENRY. Madam Chair, I de- usual for businesses to have lawyers to Each of these is very important. mand a recorded vote. represent them. In fact, businesses Arbitration is arbitrary. It does not The Acting CHAIR. Pursuant to have lawyers on call to represent them fairly resolve disputes. It is biased to- clause 6 of rule XVIII, further pro- ward the financial institution, and to- 24 hours a day. Why can consumers not have the ceedings on the amendment offered by ward the employer and others in other same opportunity to litigate that busi- the gentleman from Texas will be post- cases. Arbitration is a model that does nesses have to litigate? That is what poned. not work well to solve most disputes of this is all about. My colleague, on the ANNOUNCEMENT BY THE ACTING CHAIR this type. other side, would simply have con- The Acting CHAIR. Pursuant to It has even been suggested, amaz- clause 6 of rule XVIII, proceedings will ingly enough, to bring arbitration into sumers have no choice, go to arbitra- tion only, and then, possibly, gain now resume on those amendments the drug price debate now. I don’t be- printed in part A of House Report 116– lieve arbitration is a way to solve these some emolument. My belief is that consumers ought to 79 on which further proceedings were problems, and it is certainly not a way have choice. That is what this amend- postponed, in the following order: to get us lower drug prices. ment is about. Amendment No. 2 by Mr. STEIL of Mr. GREEN of Texas. Madam Chair, Madam Chair, this is part of the rea- Wisconsin. how much time do I have remaining? son why consumers are so angry with Amendment No. 6 by Mr. BURGESS of The Acting CHAIR. The gentleman this Congress. We deny them their con- Texas. from Texas has 11⁄2 minutes remaining. stitutional rights, the right to a trial Amendment No. 7 by Mr. BURGESS of Mr. GREEN of Texas. Madam Chair, I and the right to make a determination Texas. reserve the balance of my time. for themselves as to whether or not Amendment No. 14 by Ms. STEVENS of Mr. MCHENRY. Madam Chair, I rise they will engage in arbitration or liti- Michigan. in opposition to the amendment. gation. The Acting CHAIR. The gentleman Amendment No. 17 by Mr. GREEN of Consumers should have choices. Busi- Texas. from North Carolina is recognized for 5 nesses have choices. Consumers should minutes. The Chair will reduce to 2 minutes have no less than what businesses the minimum time for any electronic Mr. MCHENRY. Madam Chair, the have. vote after the first vote in this series. gentleman’s amendment would rein- Madam Chair, I yield back the bal- AMENDMENT NO. 2 OFFERED BY MR. STEIL state a bad rule by the CFPB that was ance of my time. The Acting CHAIR. The unfinished repealed. Mr. MCHENRY. Madam Chair, I yield The CFPB’s own data demonstrates myself the balance of my time. business is the demand for a recorded that consumers fare better under arbi- Madam Chair, let me just reiterate: vote on the amendment offered by the tration than under litigation. On aver- This amendment is for trial lawyers. gentleman from Wisconsin (Mr. STEIL) age, plaintiffs’ attorneys account for That is what they are trying to rein- on which further proceedings were approximately 31 percent of payments state, forcing consumers into the hands postponed and on which the noes pre- plaintiffs receive from class action set- of trial lawyers. Every million dollars vailed by voice vote. tlements. Plaintiffs’ attorneys collect, plaintiffs receive in attorney’s fees, the The Clerk will redesignate the on average, $1 million per case; actual actual plaintiff, the one who is harmed, amendment. plaintiffs receive just $32 each. the one who is wronged, receives, on The Clerk redesignated the amend- If Members want to be consumer average, $32. That is not fair. That is ment. friendly, if Members are about con- not equitable. That is not right. RECORDED VOTE sumer protection, let’s let the con- It is not defending an abstract con- The Acting CHAIR. A recorded vote sumers get the benefit if they are cept. It is actually defending those con- has been demanded. wronged rather than trial lawyers and sumers’ right to receive compensation A recorded vote was ordered. the trial bar. for the harm that they have experi- The vote was taken by electronic de- This is a trial lawyer’s dream amend- enced. Also, it allows that consumer to vice, and there were—ayes 190, noes 234, ment. enter into contractual agreements with not voting 13, as follows: Madam Chair, I oppose this amend- people they seek to. [Roll No. 222] ment and ask my colleagues to vote This amendment would reinstate a AYES—190 ‘‘no,’’ and I reserve the balance of my rule that would take that consumer’s Abraham Brindisi Cole time. right away from them and put it into Aderholt Brooks (AL) Collins (GA) Mr. GREEN of Texas. Madam Chair, the hands of the trial lawyer once Allen Brooks (IN) Collins (NY) who has the right to close? again. It is a profit center. It certainly Amodei Buchanan Comer The Acting CHAIR. The gentleman in Arrington Buck Conaway is. Babin Bucshon Cook opposition, the gentleman from North In November last year, the President Bacon Budd Crawford Carolina (Mr. MCHENRY), has the right signed a joint resolution passed by Baird Burchett Crenshaw to close. Congress disapproving of the arbitra- Balderson Burgess Curtis Banks Byrne Davidson (OH) Mr. GREEN of Texas. Madam Chair, I tion rule under the Congressional Re- Barr Calvert Davis, Rodney yield myself such time as I may con- view Act. Congress spoke, in the House Bergman Carter (GA) DesJarlais sume. and in the Senate, and we changed the Biggs Carter (TX) Diaz-Balart Madam Chair, this is a consumer’s Bilirakis Chabot Duffy law. Bishop (UT) Cheney Duncan dream come true because it gives the Pursuant to the joint resolution, the Bost Cline Dunn consumer choice. arbitration agreement rule has no force Brady Cloud Emmer

VerDate Sep 11 2014 02:45 May 23, 2019 Jkt 089060 PO 00000 Frm 00036 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.078 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4105 Estes King (IA) Rooney (FL) Moulton Rouda Stevens Calvert Hill (AR) Reschenthaler Ferguson King (NY) Rose, John W. Mucarsel-Powell Roybal-Allard Suozzi Carter (GA) Holding Rice (SC) Fitzpatrick Kustoff (TN) Rouzer Murphy Ruiz Takano Carter (TX) Hollingsworth Riggleman Fleischmann LaHood Roy Nadler Ruppersberger Thompson (CA) Chabot Huizenga Roby Flores LaMalfa Rutherford Napolitano Rush Thompson (MS) Cheney Hunter Rodgers (WA) Fortenberry Latta Scalise Neal Ryan Titus Cline Hurd (TX) Roe, David P. Foxx (NC) Lesko Schweikert Neguse Sablan Tlaib Cloud Johnson (LA) Rogers (AL) Fulcher Long Scott, Austin Norton San Nicolas Tonko Cole Johnson (OH) Rogers (KY) ´ Gaetz Loudermilk Sensenbrenner O’Halleran Sanchez Torres (CA) Collins (GA) Johnson (SD) Rooney (FL) Gallagher Lucas Shimkus Ocasio-Cortez Sarbanes Torres Small Collins (NY) Jordan Rose, John W. Gianforte Luetkemeyer Simpson Omar Scanlon (NM) Comer Joyce (OH) Rouzer Pallone Schakowsky Gibbs Marchant Smith (MO) Trahan Conaway Joyce (PA) Roy Panetta Schiff Gohmert Marshall Smith (NE) Trone Cook Katko Rutherford Gonzalez (OH) Massie Pappas Schneider Crawford Kelly (MS) Scalise Smith (NJ) Underwood Gonza´ lez-Colo´ n Mast Pascrell Schrader Crenshaw Kelly (PA) Schweikert Smucker Van Drew (PR) McCarthy Spano Perlmutter Schrier Curtis King (IA) Scott, Austin Peters Scott (VA) Vargas Gooden McCaul Stauber Davidson (OH) King (NY) Sensenbrenner Gosar McClintock Peterson Scott, David Veasey Davis, Rodney Kustoff (TN) Stefanik Shimkus Granger McHenry Phillips Serrano Vela DesJarlais LaHood Simpson Steil ´ Graves (GA) McKinley Pingree Sewell (AL) Velazquez Diaz-Balart LaMalfa Smith (MO) Steube Graves (LA) Meadows Plaskett Shalala Visclosky Duffy Lamborn Smith (NE) Stewart Graves (MO) Meuser Pocan Sherman Wasserman Duncan Latta Smith (NJ) Taylor Green (TN) Miller Porter Sherrill Schultz Dunn Lesko Smucker Thompson (PA) Griffith Mitchell Pressley Sires Waters Emmer Long Spano Grothman Moolenaar Thornberry Price (NC) Slotkin Watson Coleman Estes Loudermilk Stauber Guest Mooney (WV) Timmons Quigley Smith (WA) Welch Ferguson Lucas Stefanik Guthrie Mullin Tipton Raskin Soto Wexton Fleischmann Luetkemeyer Steil Hagedorn Newhouse Upton Rice (NY) Spanberger Wild Flores Marchant Steube Harris Norman Wagner Richmond Speier Wilson (FL) Fortenberry Marshall Stewart Hern, Kevin Nunes Walberg Rose (NY) Stanton Yarmuth Foxx (NC) Massie Taylor Hice (GA) Olson Walden Fulcher Mast Thompson (PA) Higgins (LA) Palazzo Walorski NOT VOTING—13 Gallagher McCarthy Thornberry Hill (AR) Palmer Waltz Armstrong Lamborn Swalwell (CA) Gianforte McCaul Timmons Holding Pence Watkins Hartzler Meeks Turner Gibbs McClintock Tipton Hollingsworth Perry Weber (TX) Herrera Beutler Norcross Walker Gohmert McHenry Turner Huizenga Posey Webster (FL) Hudson Payne Gonzalez (OH) McKinley Upton Hunter Radewagen Wenstrup Kinzinger Stivers Gonza´ lez-Colo´ n Meadows Wagner Hurd (TX) Ratcliffe Westerman (PR) Meuser Walberg Johnson (LA) Reed Williams Gooden Miller Walden Johnson (OH) Reschenthaler Wilson (SC) b 1619 Gosar Mitchell Walorski Johnson (SD) Rice (SC) Wittman Mr. HORSFORD, Ms. SA´ NCHEZ, Granger Moolenaar Waltz Jordan Riggleman Womack Graves (GA) Mooney (WV) Watkins Joyce (OH) Roby Woodall Messrs. GOTTHEIMER, PHILLIPS, Graves (LA) Mullin Weber (TX) Joyce (PA) Rodgers (WA) Wright SCOTT of Virginia, PANETTA, DANNY Graves (MO) Newhouse Webster (FL) Katko Roe, David P. Yoho K. DAVIS of Illinois, CONNOLLY, Green (TN) Norman Wenstrup Kelly (MS) Rogers (AL) Young Griffith Nunes Westerman Kelly (PA) Rogers (KY) Zeldin MCEACHIN, SCHRADER, TAKANO, Grothman Olson Williams WELCH, and COHEN changed their Guest Palazzo Wilson (SC) NOES—234 vote from ‘‘aye’’ to ‘‘no.’’ Guthrie Palmer Wittman Messrs. TIPTON, SMUCKER, BUR- Hagedorn Pence Womack Adams Davis (CA) Jayapal Harris Perry Woodall Aguilar Davis, Danny K. Jeffries GESS, OLSON, POSEY, ROY, ABRA- Hartzler Posey Wright Allred Dean Johnson (GA) HAM, WEBSTER of Florida, Hern, Kevin Radewagen Yoho Amash DeFazio Johnson (TX) WESTERMAN, and BISHOP of Utah Hice (GA) Ratcliffe Young Axne DeGette Kaptur Higgins (LA) Reed Zeldin Barraga´ n DeLauro Keating changed their vote from ‘‘no’’ to ‘‘aye.’’ Bass DelBene Kelly (IL) So the amendment was rejected. NOES—236 Beatty Delgado Kennedy Bera Demings Khanna The result of the vote was announced Adams Cox (CA) Gonzalez (TX) Beyer DeSaulnier Kildee as above recorded. Aguilar Craig Gottheimer Bishop (GA) Deutch Kilmer AMENDMENT NO. 6 OFFERED BY MR. BURGESS Allred Crist Green (TX) Blumenauer Dingell Kim Axne Crow Grijalva Blunt Rochester Doggett Kind The Acting CHAIR. The unfinished Barraga´ n Cuellar Haaland Bonamici Doyle, Michael Kirkpatrick business is the demand for a recorded Bass Cummings Harder (CA) Boyle, Brendan F. Krishnamoorthi vote on the amendment offered by the Beatty Cunningham Hastings F. Engel Kuster (NH) Bera Davids (KS) Hayes Brown (MD) Escobar Lamb gentleman from Texas (Mr. BURGESS) Beyer Davis (CA) Heck Brownley (CA) Eshoo Langevin on which further proceedings were Bishop (GA) Davis, Danny K. Higgins (NY) Bustos Espaillat Larsen (WA) postponed and on which the noes pre- Blumenauer Dean Hill (CA) Butterfield Evans Larson (CT) vailed by voice vote. Blunt Rochester DeFazio Himes Carbajal Finkenauer Lawrence Bonamici DeGette Horn, Kendra S. Ca´ rdenas Fletcher Lawson (FL) The Clerk will redesignate the Boyle, Brendan DeLauro Horsford Carson (IN) Foster Lee (CA) amendment. F. DelBene Houlahan Cartwright Frankel Lee (NV) The Clerk redesignated the amend- Brindisi Delgado Hoyer Case Fudge Levin (CA) Brown (MD) Demings Huffman Casten (IL) Gabbard Levin (MI) ment. Brownley (CA) DeSaulnier Jackson Lee Castor (FL) Gallego Lewis RECORDED VOTE Bustos Deutch Jayapal Castro (TX) Garamendi Lieu, Ted The Acting CHAIR. A recorded vote Butterfield Dingell Jeffries Chu, Judy Garcı´a (IL) Lipinski Carbajal Doggett Johnson (GA) Cicilline Garcia (TX) Loebsack has been demanded. Ca´ rdenas Doyle, Michael Johnson (TX) Cisneros Golden Lofgren A recorded vote was ordered. Carson (IN) F. Keating Clark (MA) Gomez Lowenthal The Acting CHAIR. This will be a 2- Cartwright Engel Kelly (IL) Clarke (NY) Gonzalez (TX) Lowey Case Escobar Kennedy Clay Gottheimer Luja´ n minute vote. Casten (IL) Eshoo Khanna Cleaver Green (TX) Luria The vote was taken by electronic de- Castor (FL) Espaillat Kildee Clyburn Grijalva Lynch vice, and there were—ayes 191, noes 236, Castro (TX) Evans Kilmer Cohen Haaland Malinowski not voting 10, as follows: Chu, Judy Finkenauer Kim Connolly Harder (CA) Maloney, Cicilline Fitzpatrick Kind Cooper Hastings Carolyn B. [Roll No. 223] Cisneros Fletcher Kirkpatrick Correa Hayes Maloney, Sean Clark (MA) Foster Krishnamoorthi Costa Heck Matsui AYES—191 Clarke (NY) Frankel Kuster (NH) Courtney Higgins (NY) McAdams Abraham Balderson Brooks (AL) Clay Fudge Lamb Cox (CA) Hill (CA) McBath Aderholt Banks Brooks (IN) Cleaver Gabbard Langevin Craig Himes McCollum Allen Barr Buchanan Clyburn Gaetz Larsen (WA) Crist Horn, Kendra S. McEachin Amash Bergman Buck Cohen Gallego Larson (CT) Crow Horsford McGovern Amodei Biggs Bucshon Connolly Garamendi Lawrence Cuellar Houlahan McNerney Arrington Bilirakis Budd Cooper Garcı´a (IL) Lawson (FL) Cummings Hoyer Meng Babin Bishop (UT) Burchett Correa Garcia (TX) Lee (CA) Cunningham Huffman Moore Bacon Bost Burgess Costa Golden Lee (NV) Davids (KS) Jackson Lee Morelle Baird Brady Byrne Courtney Gomez Levin (CA)

VerDate Sep 11 2014 03:15 May 23, 2019 Jkt 089060 PO 00000 Frm 00037 Fmt 7634 Sfmt 0634 E:\CR\FM\A22MY7.024 H22MYPT1 H4106 CONGRESSIONAL RECORD — HOUSE May 22, 2019 Levin (MI) Pappas Sherrill In every day of his tenure, he has led AMENDMENT NO. 7 OFFERED BY MR. BURGESS Lewis Pascrell Sires with those same qualities, navigating The Acting CHAIR. The unfinished Lieu, Ted Perlmutter Slotkin Lipinski Peters Smith (WA) everything from mass protests, to the business is the demand for a recorded Loebsack Peterson Soto more than 11 million annual visitors to vote on the amendment offered by the Lofgren Phillips Spanberger the Capitol Grounds, to multiple Lying gentleman from Texas (Mr. BURGESS) Lowenthal Pingree Speier in State and Lying in Honor cere- on which further proceedings were Lowey Plaskett Stanton Luja´ n Pocan Stevens monies. postponed and on which the noes pre- Luria Porter Suozzi Chief Verderosa has earned the re- vailed by voice vote. Lynch Pressley spect of all: the rank-and-file officers Malinowski Price (NC) Takano The Clerk will redesignate the Maloney, Quigley Thompson (CA) of the Capitol Police, Members of Con- amendment. Carolyn B. Raskin Thompson (MS) gress, foreign dignitaries, and the The Clerk redesignated the amend- Titus Maloney, Sean Rice (NY) American people. ment. Matsui Richmond Tlaib McAdams Rose (NY) Tonko On a personal note, as someone who RECORDED VOTE McBath Rouda Torres (CA) benefits from the protection of the The Acting CHAIR. A recorded vote McCollum Roybal-Allard Torres Small Capitol Police every day and every- has been demanded. McEachin Ruiz (NM) where I go, I want to express my grati- McGovern Ruppersberger Trahan A recorded vote was ordered. McNerney Rush Trone tude to Chief Verderosa for his hard The Acting CHAIR. This will be a 2- Meng Ryan Underwood work and commitment to the safety of minute vote. Moore Sablan Van Drew all Members. The vote was taken by electronic de- Morelle San Nicolas Vargas Moulton Sa´ nchez In his retirement statement, Chief vice, and there were—ayes 192, noes 235, Veasey Verderosa said: ‘‘The mission of the de- Mucarsel-Powell Sarbanes Vela not voting 10, as follows: Murphy Scanlon Vela´ zquez partment is simple. We protect the leg- Nadler Schakowsky [Roll No. 224] Visclosky islative process.’’ Napolitano Schiff Wasserman AYES—192 Neal Schneider Chief Verderosa, thank you for your Abraham Gonza´ lez-Colo´ n Olson Neguse Schrader Schultz relentless dedication to protecting the (PR) Norcross Schrier Waters Aderholt Palazzo legislative process and this legislative Gooden Norton Scott (VA) Watson Coleman Allen Palmer body, ensuring that the people’s House Gosar O’Halleran Scott, David Welch Amash Pence Granger Ocasio-Cortez Serrano Wexton can do the people’s work. We are pro- Amodei Perry Graves (GA) Omar Sewell (AL) Wild Arrington Posey foundly grateful. We wish you well in Graves (LA) Pallone Shalala Wilson (FL) Babin Radewagen your well-earned retirement. Graves (MO) Panetta Sherman Yarmuth Bacon Ratcliffe Madam Chair, I yield to the distin- Baird Green (TN) Reed NOT VOTING—10 guished gentleman from California Balderson Griffith Reschenthaler Grothman Armstrong Kinzinger Swalwell (CA) Banks Rice (SC) (Mr. MCCARTHY), who is the Republican Guest Herrera Beutler Meeks Walker Barr Riggleman leader of the House. Guthrie Hudson Payne Bergman Roby Hagedorn Kaptur Stivers Mr. MCCARTHY. Madam Chair, I Bilirakis Rodgers (WA) thank the Speaker for yielding, and I Bishop (UT) Harris Roe, David P. ANNOUNCEMENT BY THE ACTING CHAIR Hartzler thank her for her words. I want to join Bost Rogers (AL) The Acting CHAIR (during the vote). Brady Hern, Kevin Rogers (KY) the Speaker in thanking the chief. Hice (GA) There is 1 minute remaining. Brooks (AL) Rooney (FL) Three decades, 34 years—it is not a Brooks (IN) Higgins (LA) Rose, John W. b 1629 Buchanan Hill (AR) Rouzer job; it is a way of life when you become Holding a police officer. Your job is a little dif- Buck Roy So the amendment was rejected. Bucshon Hollingsworth Rutherford The result of the vote was announced ferent, and we see it each and every Budd Huizenga Scalise Hunter day. Burchett Schweikert as above recorded. Hurd (TX) Burgess Scott, Austin (By unanimous consent, Ms. PELOSI Think of the complexity of being a Johnson (LA) Byrne Sensenbrenner Capitol Police officer. It is not just the Johnson (OH) was allowed to speak out of order.) Calvert Shimkus Johnson (SD) HONORING USCP CHIEF VERDEROSA safety of the women and men who serve Carter (GA) Simpson Jordan in here; it is the thousands of visitors Carter (TX) Smith (MO) Ms. PELOSI. Madam Chair, I am Joyce (OH) Chabot Smith (NE) pleased to rise to join our distinguished who come every day. But it is also the Joyce (PA) Cheney Smith (NJ) Katko Republican leader, Mr. MCCARTHY, to responsibility of keeping a government Cline Smucker Kelly (MS) by the people, for the people, and of the Cloud Spano honor the dedicated, distinguished Kelly (PA) Cole service of an outstanding public serv- people open. King (IA) Stauber ant, United States Capitol Police Chief Every day we see it, and we all have Collins (GA) King (NY) Stefanik Collins (NY) Kustoff (TN) Steil Matthew Verderosa. felt it. It is not just protecting us when Comer Steube it is inside this building. We saw it just LaHood Madam Chair, throughout 34 years in Conaway LaMalfa Stewart law enforcement, Police Chief a short time ago on a baseball field. We Cook Lamborn Taylor Verderosa has proven himself as a lead- are reminded of the number of Mem- Crawford Latta Thompson (PA) Crenshaw Thornberry er of the highest patriotism and profes- bers’ lives your officers saved that day. Lesko Curtis Long Timmons sionalism and has proudly carried forth We are reminded of the number of Davidson (OH) Loudermilk Tipton the Capitol Police’s nearly two-century times, just in a building that the ma- Davis, Rodney Lucas Turner jority leader room has, of the officers DesJarlais Luetkemeyer Upton history of storied service. Diaz-Balart Wagner Chief Verderosa has held seemingly giving the ultimate sacrifice inside Marchant Duffy Marshall Walberg every consequential job in the Capitol these Hallowed Halls to save the oth- Duncan Massie Walden Police, from the fields of emergency re- ers. Dunn Mast Walorski So we thank you for your work, but, Emmer McCarthy Waltz sponse, to dignitary protection, to the Estes Watkins more importantly, we thank you for McCaul highest ranks of leadership. Ferguson McClintock Weber (TX) Through it all, he has distinguished the force. We thank you for all the offi- Fitzpatrick McHenry Webster (FL) himself for his strong, steady leader- cers. Fleischmann McKinley Wenstrup ship, particularly during some of the We know last week was National Po- Flores Meadows Westerman Fortenberry Meuser Williams most challenging times for the Capitol lice Week. They were here in the Cap- Foxx (NC) Miller Wilson (SC) Police force and the Congress. itol and throughout Washington, D.C. Fulcher Mitchell Wittman That outstanding leadership was on We know every day that we hear the Gaetz Moolenaar Womack display after the 2017 congressional other lives that were lost protecting us Gallagher Mooney (WV) Woodall Gianforte Mullin Wright baseball shooting, 2 years ago next throughout the Nation. Gibbs Newhouse Yoho month. Chief Verderosa responded to We thank you for your service, and Gohmert Norman Young that attack with courage, vision, and on behalf of a very grateful Congress, Gonzalez (OH) Nunes Zeldin grace, bringing help and healing to thank you for your decades of service, NOES—235 those affected and to our entire con- and we wish you all the best in retire- Adams Allred Barraga´ n gressional community. ment. Aguilar Axne Bass

VerDate Sep 11 2014 03:15 May 23, 2019 Jkt 089060 PO 00000 Frm 00038 Fmt 7634 Sfmt 0634 E:\CR\FM\A22MY7.026 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4107 Beatty Gottheimer Omar gentlewoman from Michigan (Ms. STE- Levin (CA) Perlmutter Smucker Bera Green (TX) Pallone Levin (MI) Perry Soto VENS) on which further proceedings Beyer Grijalva Panetta Lewis Peters Spanberger Biggs Haaland Pappas were postponed and on which the ayes Lieu, Ted Peterson Spano Bishop (GA) Harder (CA) Pascrell prevailed by voice vote. Lipinski Phillips Speier Blumenauer Hastings Perlmutter The Clerk will redesignate the Loebsack Pingree Stanton Blunt Rochester Hayes Peters Lofgren Plaskett amendment. Stauber Bonamici Heck Peterson Long Pocan Stefanik Boyle, Brendan Higgins (NY) Phillips The Clerk redesignated the amend- Loudermilk Porter Steil F. Hill (CA) Pingree ment. Lowenthal Posey Steube Brindisi Himes Plaskett Lowey Pressley Stevens Brown (MD) Horn, Kendra S. Pocan RECORDED VOTE Lucas Price (NC) Stewart Brownley (CA) Horsford Porter Luetkemeyer Quigley The Acting CHAIR. A recorded vote Suozzi Bustos Houlahan Pressley Luja´ n Radewagen Takano Butterfield Hoyer Price (NC) has been demanded. Luria Raskin Carbajal Huffman Quigley A recorded vote was ordered. Lynch Ratcliffe Taylor Ca´ rdenas Jackson Lee Raskin Malinowski Reed Thompson (CA) The Acting CHAIR. This will be a 2- Thompson (MS) Carson (IN) Jayapal Rice (NY) minute vote. Maloney, Reschenthaler Cartwright Jeffries Richmond Carolyn B. Rice (NY) Thompson (PA) Case Johnson (GA) Rose (NY) The vote was taken by electronic de- Maloney, Sean Rice (SC) Thornberry Casten (IL) Johnson (TX) Rouda vice, and there were—ayes 418, noes 10, Marchant Richmond Timmons Castor (FL) Kaptur Roybal-Allard not voting 9, as follows: Marshall Riggleman Tipton Castro (TX) Keating Ruiz Massie Roby Titus Chu, Judy Kelly (IL) Ruppersberger [Roll No. 225] Mast Rodgers (WA) Tlaib Cicilline Kennedy Rush AYES—418 Matsui Roe, David P. Tonko Cisneros Khanna Ryan McAdams Rogers (AL) Torres (CA) Clark (MA) Kildee Sablan Abraham Connolly Gottheimer McBath Rogers (KY) Torres Small Clarke (NY) Kilmer San Nicolas Adams Cook Granger McCarthy Rooney (FL) (NM) Clay Kim Sa´ nchez Aderholt Cooper Graves (GA) McCaul Rose (NY) Trahan Cleaver Kind Sarbanes Aguilar Correa Graves (LA) McCollum Rose, John W. Trone Clyburn Kirkpatrick Scanlon Allen Costa Graves (MO) McEachin Rouda Turner Cohen Krishnamoorthi Schakowsky Allred Courtney Green (TX) McGovern Rouzer Underwood Connolly Kuster (NH) Schiff Amodei Cox (CA) Griffith McHenry Roy Upton Cooper Lamb Schneider Arrington Craig Grijalva McKinley Roybal-Allard Van Drew Correa Langevin Schrader Axne Crawford Grothman McNerney Ruiz Vargas Babin Crenshaw Guest Costa Larsen (WA) Schrier Meadows Ruppersberger Veasey Bacon Crist Guthrie Courtney Larson (CT) Scott (VA) Meng Rush Vela Baird Crow Haaland Cox (CA) Lawrence Scott, David Meuser Rutherford Vela´ zquez Balderson Cuellar Hagedorn Craig Lawson (FL) Serrano Miller Ryan Visclosky Banks Cummings Harder (CA) Crist Lee (CA) Sewell (AL) Mitchell Sablan Wagner Crow Lee (NV) Shalala Barr Cunningham Hartzler Moolenaar San Nicolas Barraga´ n Curtis Hastings Walberg Cuellar Levin (CA) Sherman Mooney (WV) Sa´ nchez Walden Cummings Levin (MI) Sherrill Bass Davids (KS) Hayes Moore Sarbanes Beatty Davidson (OH) Heck Walorski Cunningham Lewis Sires Morelle Scalise Waltz Davids (KS) Lieu, Ted Slotkin Bera Davis (CA) Hice (GA) Moulton Scanlon Bergman Davis, Danny K. Higgins (LA) Wasserman Davis (CA) Lipinski Smith (WA) Mucarsel-Powell Schakowsky Schultz Davis, Danny K. Loebsack Soto Beyer Davis, Rodney Higgins (NY) Mullin Schiff Waters Dean Lofgren Spanberger Bilirakis Dean Hill (AR) Murphy Schneider Watkins DeFazio Lowenthal Speier Bishop (GA) DeFazio Hill (CA) Nadler Schrader Watson Coleman DeGette Lowey Stanton Bishop (UT) DeGette Himes Napolitano Schrier Weber (TX) DeLauro Luja´ n Stevens Blumenauer DeLauro Holding Neal Schweikert Webster (FL) DelBene Luria Suozzi Blunt Rochester DelBene Hollingsworth Neguse Scott (VA) Delgado Lynch Takano Bonamici Delgado Horn, Kendra S. Newhouse Scott, Austin Welch Demings Malinowski Thompson (CA) Bost Demings Horsford Norcross Scott, David Wenstrup DeSaulnier Maloney, Thompson (MS) Boyle, Brendan DeSaulnier Houlahan Norman Sensenbrenner Westerman Deutch Carolyn B. Titus F. DesJarlais Hoyer Norton Serrano Wexton Dingell Maloney, Sean Tlaib Brady Deutch Huffman Nunes Sewell (AL) Wild Doggett Matsui Tonko Brindisi Diaz-Balart Huizenga O’Halleran Shalala Williams Doyle, Michael McAdams Torres (CA) Brooks (AL) Dingell Hunter Ocasio-Cortez Sherman Wilson (FL) F. McBath Torres Small Brooks (IN) Doggett Hurd (TX) Olson Sherrill Wilson (SC) Engel McCollum (NM) Brown (MD) Doyle, Michael Jackson Lee Omar Shimkus Wittman Escobar McEachin Trahan Brownley (CA) F. Jayapal Palazzo Simpson Womack Eshoo McGovern Trone Buchanan Duffy Jeffries Pallone Sires Woodall Espaillat McNerney Underwood Buck Duncan Johnson (GA) Palmer Slotkin Wright Evans Meng Van Drew Bucshon Dunn Johnson (LA) Panetta Smith (MO) Yarmuth Finkenauer Moore Vargas Budd Emmer Johnson (OH) Pappas Smith (NE) Yoho Fletcher Morelle Veasey Burchett Engel Johnson (SD) Pascrell Smith (NJ) Young Foster Moulton Vela Burgess Escobar Johnson (TX) Pence Smith (WA) Zeldin Frankel Mucarsel-Powell Vela´ zquez Bustos Eshoo Jordan Fudge Murphy Visclosky Butterfield Espaillat Joyce (OH) NOES—10 Byrne Estes Joyce (PA) Gabbard Nadler Wasserman Amash Green (TN) LaMalfa Calvert Evans Kaptur Gallego Napolitano Schultz Biggs Harris Carbajal Finkenauer Katko McClintock Garamendi Neal Waters Ferguson Hern, Kevin Ca´ rdenas Fitzpatrick Keating Garcı´a (IL) Neguse Watson Coleman Gaetz King (IA) Garcia (TX) Norcross Welch Carson (IN) Fleischmann Kelly (IL) Golden Norton Wexton Carter (GA) Fletcher Kelly (MS) NOT VOTING—9 Gomez O’Halleran Wild Carter (TX) Flores Kelly (PA) Armstrong Kinzinger Stivers Gonzalez (TX) Ocasio-Cortez Wilson (FL) Cartwright Fortenberry Kennedy Case Foster Khanna Herrera Beutler Meeks Swalwell (CA) NOT VOTING—10 Casten (IL) Foxx (NC) Kildee Hudson Payne Walker Castor (FL) Frankel Kilmer Armstrong Meeks Walker ANNOUNCEMENT BY THE ACTING CHAIR Herrera Beutler Payne Yarmuth Castro (TX) Fudge Kim Hudson Stivers Chabot Fulcher Kind The Acting CHAIR (during the vote). Kinzinger Swalwell (CA) Cheney Gabbard King (NY) There is 1 minute remaining. Chu, Judy Gallagher Kirkpatrick ANNOUNCEMENT BY THE ACTING CHAIR Cicilline Gallego Krishnamoorthi The Acting CHAIR (during the vote). Cisneros Garamendi Kuster (NH) b 1648 Clark (MA) Garcı´a (IL) Kustoff (TN) There is 1 minute remaining. Clarke (NY) Garcia (TX) LaHood So the amendment was agreed to. b 1642 Clay Gianforte Lamb Cleaver Gibbs Lamborn The result of the vote was announced So the amendment was rejected. Cline Gohmert Langevin as above recorded. Cloud Golden Larsen (WA) The result of the vote was announced AMENDMENT NO. 17 OFFERED BY MR. GREEN OF Clyburn Gomez Larson (CT) as above recorded. Cohen Gonzalez (OH) Latta TEXAS AMENDMENT NO. 14 OFFERED BY MS. STEVENS Cole Gonzalez (TX) Lawrence The Acting CHAIR. The unfinished The Acting CHAIR. The unfinished Collins (GA) Gonza´ lez-Colo´ n Lawson (FL) business is the demand for a recorded Collins (NY) (PR) Lee (CA) business is the demand for a recorded Comer Gooden Lee (NV) vote on the amendment offered by the vote on the amendment offered by the Conaway Gosar Lesko gentleman from Texas (Mr. GREEN) on

VerDate Sep 11 2014 03:15 May 23, 2019 Jkt 089060 PO 00000 Frm 00039 Fmt 7634 Sfmt 0634 E:\CR\FM\A22MY7.025 H22MYPT1 H4108 CONGRESSIONAL RECORD — HOUSE May 22, 2019 which further proceedings were post- Van Drew Visclosky Welch for other purposes, and, pursuant to Vargas Wasserman Wexton poned and on which the ayes prevailed Veasey Schultz Wild House Resolution 389, she reported the by voice vote. Vela Waters Wilson (FL) bill, as amended by that resolution, The Clerk will redesignate the Vela´ zquez Watson Coleman Yarmuth back to the House with sundry further amendment. NOES—193 amendments adopted in the Committee The Clerk redesignated the amend- Abraham Gonzalez (OH) Nunes of the Whole. ment. Aderholt Gonza´ lez-Colo´ n Olson The SPEAKER pro tempore. Under Allen (PR) Palazzo the rule, the previous question is or- RECORDED VOTE Amash Gooden Palmer dered. The Acting CHAIR. A recorded vote Amodei Gosar Pence Is a separate vote demanded on any has been demanded. Arrington Granger Perry Babin Graves (GA) further amendment reported from the A recorded vote was ordered. Posey Bacon Graves (LA) Radewagen Committee of the Whole? If not, the The Acting CHAIR. This will be a 2- Baird Graves (MO) Ratcliffe Chair will put them en gros. minute vote. Balderson Green (TN) Reed The amendments were agreed to. The vote was taken by electronic de- Banks Griffith Reschenthaler Barr Grothman Rice (SC) The SPEAKER pro tempore. The vice, and there were—ayes 235, noes 193, Bergman Guest Riggleman question is on the engrossment and not voting 9, as follows: Biggs Guthrie Roby third reading of the bill. Bilirakis Hagedorn Rodgers (WA) [Roll No. 226] Bishop (UT) Harris The bill was ordered to be engrossed Roe, David P. and read a third time, and was read the AYES—235 Bost Hartzler Rogers (AL) Brady Hern, Kevin Rogers (KY) third time. Adams Gallego Mucarsel-Powell Brooks (AL) Hice (GA) Rooney (FL) MOTION TO RECOMMIT Aguilar Garamendi Murphy Brooks (IN) Higgins (LA) Allred Garcı´a (IL) Nadler Rose, John W. Mr. STEIL. Madam Speaker, I have a Buchanan Hill (AR) Rouzer Axne Garcia (TX) Napolitano Buck Holding motion to recommit at the desk. Barraga´ n Golden Neal Roy Bucshon Hollingsworth Rutherford The SPEAKER pro tempore. Is the Bass Gomez Neguse Budd Huizenga Scalise Beatty Gonzalez (TX) Norcross Burchett Hunter gentleman opposed to the bill? Schweikert Bera Gottheimer Norton Burgess Hurd (TX) Mr. STEIL. I am opposed to the bill Scott, Austin Beyer Green (TX) O’Halleran Byrne Johnson (LA) Sensenbrenner in its current form. Bishop (GA) Grijalva Ocasio-Cortez Calvert Johnson (OH) Shimkus The SPEAKER pro tempore. The Blumenauer Haaland Omar Carter (GA) Johnson (SD) Simpson Clerk will report the motion to recom- Blunt Rochester Harder (CA) Pallone Carter (TX) Jordan Smith (MO) Bonamici Hastings Panetta Chabot Joyce (OH) mit. Smith (NE) Boyle, Brendan Hayes Pappas Cheney Joyce (PA) The Clerk read as follows: Smith (NJ) F. Heck Pascrell Cline Katko Brindisi Higgins (NY) Perlmutter Smucker Mr. Steil moves to recommit the bill H.R. Cloud Kelly (MS) 1500 to the Committee on Financial Services Brown (MD) Hill (CA) Peters Cole Kelly (PA) Spano Brownley (CA) Himes Peterson Collins (GA) King (IA) Stauber with instructions to report the same back to Bustos Horn, Kendra S. Phillips Collins (NY) King (NY) Stefanik the House forthwith with the following Butterfield Horsford Pingree Comer Kustoff (TN) Steil amendment: Carbajal Houlahan Plaskett Conaway LaHood Stewart Page 40, after line 8, insert the following: Ca´ rdenas Hoyer Pocan Taylor Cook LaMalfa SEC. 9. PAYMENTS TO VICTIMS FROM THE CIVIL Carson (IN) Huffman Porter Thompson (PA) Crawford Lamborn PENALTY FUND. Cartwright Jackson Lee Pressley Crenshaw Latta Thornberry Case Jayapal Price (NC) Timmons Paragraph (2) of section 1017(d) of the Con- Cuellar Lesko sumer Financial Protection Act of 2010 (12 Casten (IL) Jeffries Quigley Curtis Long Tipton Castor (FL) Johnson (GA) Raskin Davidson (OH) Loudermilk Turner U.S.C. 5497(d)(2)) is amended to read as fol- Castro (TX) Johnson (TX) Rice (NY) Davis, Rodney Lucas Upton lows: Chu, Judy Kaptur Richmond DesJarlais Luetkemeyer Wagner ‘‘(2) PAYMENTS TO VICTIMS.—No funds from Cicilline Keating Rose (NY) Diaz-Balart Marchant Walberg the Civil Penalty Fund shall be made avail- Cisneros Kelly (IL) Rouda Duffy Marshall Walden able for any purpose other than compen- Clark (MA) Kennedy Roybal-Allard Duncan Massie Walorski sating actual victims of activities for which Clarke (NY) Khanna Ruiz Waltz Dunn Mast civil penalties have been imposed under Fed- Clay Kildee Ruppersberger Emmer McCarthy Watkins Cleaver Kilmer Rush Estes McCaul Weber (TX) eral consumer financial laws.’’. Clyburn Kim Ryan Ferguson McClintock Webster (FL) Page 40, line 9, strike ‘‘SEC. 9’’ and insert Cohen Kind Sablan Fitzpatrick McHenry Wenstrup ‘‘SEC. 10’’. Connolly Kirkpatrick San Nicolas Fleischmann McKinley Westerman Cooper Krishnamoorthi Sa´ nchez The SPEAKER pro tempore. Pursu- Flores Meadows Williams ant to the rule, the gentleman from Correa Kuster (NH) Sarbanes Fortenberry Meuser Wilson (SC) Costa Lamb Scanlon Foxx (NC) Miller Wittman Wisconsin is recognized for 5 minutes Courtney Langevin Schakowsky Fulcher Mitchell Womack in support of his motion. Cox (CA) Larsen (WA) Schiff Gaetz Moolenaar Woodall Craig Larson (CT) Schneider Gallagher Mooney (WV) Wright b 1700 Crist Lawrence Schrader Gianforte Mullin Yoho Mr. STEIL. Madam Speaker, this is Crow Lawson (FL) Schrier Gibbs Newhouse Young Cummings Lee (CA) Scott (VA) Gohmert Norman Zeldin the final amendment to the bill. It will Cunningham Lee (NV) Scott, David not kill the bill or send it back to com- Davids (KS) Levin (CA) Serrano NOT VOTING—9 Davis (CA) Levin (MI) Sewell (AL) mittee. If adopted, the bill will imme- Armstrong Kinzinger Stivers Davis, Danny K. Lewis Shalala diately proceed to final passage, as Herrera Beutler Meeks Swalwell (CA) Dean Lieu, Ted Sherman Hudson Payne Walker amended. DeFazio Lipinski Sherrill Madam Speaker, the Dodd-Frank Act DeGette Loebsack Sires b 1654 DeLauro Lofgren Slotkin created the Consumer Financial Civil DelBene Lowenthal Smith (WA) So the amendment was agreed to. Penalty Fund, into which the Bureau Delgado Lowey Soto The result of the vote was announced deposits civil penalties it collects from ´ Demings Lujan Spanberger as above recorded. wrongdoers. DeSaulnier Luria Speier ´ Deutch Lynch Stanton The Acting CHAIR (Ms. BARRAGAN). Civil penalties should be used exclu- Dingell Malinowski Steube There being no further amendments, sively to make victims of financial Doggett Maloney, Stevens under the rule, the Committee rises. consumer crimes whole. We should Doyle, Michael Carolyn B. Suozzi Accordingly, the Committee rose; F. Maloney, Sean Takano track down actual victims of fraud. Engel Matsui Thompson (CA) and the Speaker pro tempore (Ms. However, current law allows the Bu- Escobar McAdams Thompson (MS) JACKSON LEE) having assumed the reau to use this account as a slush Eshoo McBath Titus chair, Ms. BARRAGA´ N, Acting Chair of fund. Espaillat McCollum Tlaib Evans McEachin Tonko the Committee of the Whole House on We should give the money back to Finkenauer McGovern Torres (CA) the state of the Union, reported that the victims. Fletcher McNerney Torres Small that Committee, having had under con- This motion would put an end to the Foster Meng (NM) sideration the bill (H.R. 1500) to require CFPB slush fund. This motion requires Frankel Moore Trahan Fudge Morelle Trone the Consumer Financial Protection Bu- the CFPB to do the right thing: Give Gabbard Moulton Underwood reau to meet its statutory purpose, and the money to the victims.

VerDate Sep 11 2014 03:54 May 23, 2019 Jkt 089060 PO 00000 Frm 00040 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.088 H22MYPT1 May 22, 2019 CONGRESSIONAL RECORD — HOUSE H4109 The CFPB’s ability to take away pen- Street megabanks could not again Johnson (SD) Mullin Smucker alty funds and use them in unaccount- cheat families and tank our economy. Jordan Newhouse Spano Joyce (OH) Norman Stauber able ways is unparalleled among finan- We created the Consumer Financial Joyce (PA) Nunes Stefanik cial regulators. Protection Bureau, even though special Katko Olson Steil Where does this money go? interests were spending $3 million a Kelly (MS) Palazzo Steube Kelly (PA) Palmer Both the Government Accountability day to defeat it. Think about it; an in- Stewart King (IA) Pence Taylor Office and the Federal Reserve’s In- dustry so wealthy that even in its col- King (NY) Perry Thompson (PA) spector General, which oversees the lapse, they had $40 million to spend on Kustoff (TN) Posey Thornberry CFPB, found that the CFPB lacks in- lobbyists. LaHood Ratcliffe Timmons LaMalfa Reed Tipton ternal procedures. The CFPB lacks ac- Now these same special interests are, Lamborn Reschenthaler Turner Latta Rice (SC) countability. The CFPB lacks trans- again, attacking the CFPB. This Upton Lesko Riggleman parency. amendment is just another effort by Wagner Long Roby Where does this money go? Walberg the same Members who voted against Loudermilk Rodgers (WA) Walden Let’s put an end to the slush fund at the CFPB’s very creation to limit the Lucas Roe, David P. the Bureau. Let’s redirect where this Luetkemeyer Rogers (AL) Walorski agency’s effectiveness. Waltz money belongs. Let’s give the money Marchant Rogers (KY) In my nearly 2 decades as a consumer Marshall Rooney (FL) Watkins to the victims. advocate, I have never met a single Massie Rose, John W. Weber (TX) I urge my colleagues to vote ‘‘yes’’ American, Democrat, Republican, or Mast Rouzer Webster (FL) on this motion to recommit. McCarthy Roy Wenstrup Independent, who likes being cheated. Westerman Madam Speaker, I yield back the bal- McCaul Rutherford If the Members today were listening to McClintock Scalise Williams ance of my time. their constituents, and not special in- McHenry Schweikert Wilson (SC) Ms. PORTER. Madam Speaker, I rise terests, they would support the Con- McKinley Scott, Austin Wittman in opposition to the motion to recom- Meadows Sensenbrenner Womack sumer Financial Protection Bureau. Meuser Shimkus Woodall mit. I am a proud capitalist, and it is in Miller Simpson Wright The SPEAKER pro tempore. The gen- that deep belief in healthy and strong Mitchell Smith (MO) Yoho tlewoman from California is recognized Moolenaar Smith (NE) Young markets, that I rise today in opposi- Mooney (WV) Smith (NJ) Zeldin for 5 minutes. tion to this motion to recommit. Ms. PORTER. Madam Speaker, I rise Madam Speaker, I yield back the bal- NOES—231 today, not just as a new Member of ance of my time. Congress, but as someone who has Adams Doyle, Michael Lewis The SPEAKER pro tempore. Without Aguilar F. Lieu, Ted spent my career as a consumer protec- objection, the previous question is or- Allred Engel Lipinski tion lawyer studying families pushed Axne Escobar Loebsack dered on the motion to recommit. to the brink of financial ruin. Barraga´ n Eshoo Lofgren There was no objection. Bass Espaillat Lowenthal I have sat all day long listening to The SPEAKER pro tempore. The Beatty Evans Lowey the personal stories of families driven ´ question is on the motion to recommit. Bera Finkenauer Lujan to bankruptcy by predatory loans, fi- Beyer Fletcher Luria The question was taken; and the nancial scams, and unlawful and im- Bishop (GA) Foster Lynch Speaker pro tempore announced that Blumenauer Frankel Malinowski moral debt collectors. the noes appeared to have it. Blunt Rochester Fudge Maloney, I rise today as someone who has per- Bonamici Gabbard Carolyn B. sonally spoken to thousands of families RECORDED VOTE Boyle, Brendan Gallego Maloney, Sean Mr. STEIL. Madam Speaker, I de- F. Garamendi Matsui in foreclosure; as someone who has had Brindisi Garcı´a (IL) McAdams to look into the eyes of parents and mand a recorded vote. Brown (MD) Garcia (TX) McBath children and tell them: ‘‘I’m sorry, but A recorded vote was ordered. Brownley (CA) Golden McCollum the bank is going to take your house.’’ The SPEAKER pro tempore. Pursu- Bustos Gomez McEachin Butterfield Gonzalez (TX) McGovern These are not experiences that some- ant to clause 9 of rule XX, the Chair Carbajal Gottheimer McNerney one can forget. I carry these stories of will reduce to 5 minutes the minimum Ca´ rdenas Green (TX) Meng California families with me every day. time for any electronic vote on the Carson (IN) Grijalva Moore question of passage. Cartwright Haaland Morelle That is why I ran for office. It is why Case Harder (CA) Moulton I stand up for a level playing field for This is a 5-minute vote. Casten (IL) Hastings Mucarsel-Powell families. The vote was taken by electronic de- Castor (FL) Hayes Murphy I cannot fathom how the minority, vice, and there were—ayes 191, noes 231, Castro (TX) Heck Nadler Chu, Judy Higgins (NY) Napolitano with this amendment, is shrugging off not voting 9, as follows: Cicilline Hill (CA) Neal the devastation of the 2008 collapse. [Roll No. 227] Cisneros Himes Neguse Ten years ago, in 2009, Orange County Clark (MA) Horn, Kendra S. Norcross AYES—191 Clarke (NY) Horsford O’Halleran was coming off a year when home Abraham Chabot Gallagher Clay Houlahan Ocasio-Cortez prices fell 30 percent. Imagine being a Aderholt Cheney Gianforte Cleaver Hoyer Omar family planning for retirement and, all Allen Cline Gibbs Clyburn Huffman Pallone of a sudden, your primary source of se- Amash Cloud Gohmert Cohen Jackson Lee Panetta Amodei Cole Gonzalez (OH) Connolly Jayapal Pappas curity is gone. Arrington Collins (GA) Gooden Cooper Jeffries Pascrell Ten years ago, in May 2009, Cali- Babin Collins (NY) Gosar Correa Johnson (GA) Perlmutter fornia had an unemployment rate of 11 Bacon Comer Granger Costa Johnson (TX) Peters percent. Baird Conaway Graves (GA) Courtney Kaptur Peterson Balderson Cook Graves (LA) Cox (CA) Keating Phillips Do Members of this body not remem- Banks Crawford Graves (MO) Craig Kelly (IL) Pingree ber how many of our friends and neigh- Barr Crenshaw Green (TN) Crist Kennedy Pocan bors spent sleepless nights wondering if Bergman Curtis Griffith Crow Khanna Porter Biggs Davidson (OH) Grothman Cuellar Kildee Pressley they could keep a roof over their Bilirakis Davis, Rodney Guest Cummings Kilmer Price (NC) heads? Bishop (UT) DesJarlais Guthrie Cunningham Kim Quigley The 2008 economic collapse cast a Bost Diaz-Balart Hagedorn Davids (KS) Kind Raskin long shadow. One study from the CDC Brady Duffy Harris Davis (CA) Kirkpatrick Rice (NY) Brooks (AL) Duncan Hartzler Davis, Danny K. Krishnamoorthi Richmond found that suicides, spurred by evic- Brooks (IN) Dunn Hern, Kevin Dean Kuster (NH) Rose (NY) tions and foreclosures, doubled between Buchanan Emmer Hice (GA) DeFazio Lamb Rouda 2005 and 2010. Those are going to be dif- Buck Estes Higgins (LA) DeGette Langevin Roybal-Allard Bucshon Ferguson Hill (AR) DeLauro Larsen (WA) Ruiz ficult victims to locate. Budd Fitzpatrick Holding DelBene Larson (CT) Ruppersberger Because of this human tragedy, Con- Burchett Fleischmann Hollingsworth Delgado Lawrence Rush gress acted and created the Consumer Burgess Flores Huizenga Demings Lawson (FL) Ryan Financial Protection Bureau, an agen- Byrne Fortenberry Hunter DeSaulnier Lee (CA) Sa´ nchez Calvert Foxx (NC) Hurd (TX) Deutch Lee (NV) Sarbanes cy whose sole focus is to ensure that fi- Carter (GA) Fulcher Johnson (LA) Dingell Levin (CA) Scanlon nancial services companies and Wall Carter (TX) Gaetz Johnson (OH) Doggett Levin (MI) Schakowsky

VerDate Sep 11 2014 03:54 May 23, 2019 Jkt 089060 PO 00000 Frm 00041 Fmt 7634 Sfmt 0634 E:\CR\FM\K22MY7.092 H22MYPT1 H4110 CONGRESSIONAL RECORD — HOUSE May 22, 2019 Schiff Speier Van Drew Loebsack Perlmutter Slotkin Wilson (SC) Woodall Young Schneider Stanton Vargas Lofgren Peters Smith (WA) Wittman Wright Zeldin Schrader Stevens Veasey Lowenthal Peterson Soto Womack Yoho Schrier Suozzi Lowey Phillips Vela Spanberger NOT VOTING—9 Scott (VA) Takano Vela´ zquez Luja´ n Pingree Speier Scott, David Thompson (CA) Visclosky Luria Pocan Stanton Armstrong Kinzinger Stivers Serrano Thompson (MS) Wasserman Lynch Porter Stevens Herrera Beutler Meeks Swalwell (CA) Sewell (AL) Titus Schultz Malinowski Pressley Suozzi Hudson Payne Walker Shalala Tlaib Waters Maloney, Price (NC) Takano Sherman Tonko Carolyn B. Quigley b 1724 Watson Coleman Thompson (CA) Sherrill Torres (CA) Maloney, Sean Raskin Welch Thompson (MS) So the bill was passed. Sires Torres Small Matsui Rice (NY) Wexton Titus Slotkin (NM) McAdams Richmond The result of the vote was announced Tlaib Smith (WA) Trahan Wild McBath Rose (NY) as above recorded. Tonko Soto Trone Wilson (FL) McCollum Rouda Torres (CA) A motion to reconsider was laid on Spanberger Underwood Yarmuth McEachin Roybal-Allard Torres Small the table. McGovern Ruiz (NM) NOT VOTING—9 McNerney Ruppersberger f Trahan Armstrong Kinzinger Stivers Meng Rush Trone Herrera Beutler Meeks Swalwell (CA) Moore Ryan AUTHORIZING THE USE OF EMAN- Underwood Hudson Payne Walker Morelle Sa´ nchez CIPATION HALL IN THE CAPITOL Moulton Sarbanes Van Drew VISITOR CENTER FOR AN EVENT ANNOUNCEMENT BY THE SPEAKER PRO TEMPORE Vargas Mucarsel-Powell Scanlon TO CELEBRATE THE BIRTHDAY The SPEAKER pro tempore (during Murphy Schakowsky Veasey Nadler Schiff Vela OF KING KAMEHAMEHA I the vote). There are 2 minutes remain- ´ Napolitano Schneider Velazquez Ms. FUDGE. Madam Speaker, I ask ing. Neal Schrader Visclosky Neguse Schrier Wasserman unanimous consent that the Com- Schultz b 1712 Norcross Scott (VA) mittee on House Administration be dis- O’Halleran Scott, David Waters charged from further consideration of Watson Coleman So the motion to recommit was re- Ocasio-Cortez Serrano Senate Concurrent Resolution 14, and jected. Omar Sewell (AL) Welch Pallone Shalala Wexton ask for its immediate consideration in The result of the vote was announced Panetta Sherman Wild the House. as above recorded. Pappas Sherrill Wilson (FL) The Clerk read the title of the con- The SPEAKER pro tempore. The Pascrell Sires Yarmuth current resolution. question is on the passage of the bill. NOES—191 The SPEAKER pro tempore (Ms. The question was taken; and the OMAR). Is there objection to the re- Abraham Gianforte Moolenaar Speaker pro tempore announced that Aderholt Gibbs Mooney (WV) quest of the gentlewoman from Ohio? the ayes appeared to have it. Allen Gohmert Mullin There was no objection. RECORDED VOTE Amash Gonzalez (OH) Newhouse The text of the concurrent resolution Amodei Gooden Norman is as follows: Mr. STEIL. Madam Speaker, I de- Arrington Gosar Nunes mand a recorded vote. Babin Granger Olson S. CON. RES. 14 A recorded vote was ordered. Bacon Graves (GA) Palazzo Resolved by the Senate (the House of Rep- Baird Graves (LA) Palmer resentatives concurring), The SPEAKER pro tempore. This is a Balderson Graves (MO) Pence SECTION 1. USE OF EMANCIPATION HALL FOR 5-minute vote. Banks Green (TN) Perry EVENT TO CELEBRATE BIRTHDAY Barr Griffith Posey The vote was taken by electronic de- OF KING KAMEHAMEHA I. vice, and there were—ayes 231, noes 191, Bergman Grothman Ratcliffe Biggs Guest Reed (a) AUTHORIZATION.—Emancipation Hall in not voting 9, as follows: Bilirakis Guthrie Reschenthaler the Capitol Visitor Center is authorized to be [Roll No. 228] Bishop (UT) Hagedorn Rice (SC) used on June 9, 2019, for an event to celebrate Bost Harris Riggleman AYES—231 the birthday of King Kamehameha I. Brady Hartzler Roby (b) PREPARATIONS.—Physical preparations Adams Craig Haaland Brooks (AL) Hern, Kevin Rodgers (WA) for the conduct of the event described in sub- Aguilar Crist Harder (CA) Brooks (IN) Hice (GA) Roe, David P. section (a) shall be carried out in accordance Allred Crow Hastings Buchanan Higgins (LA) Rogers (AL) Axne Cuellar Hayes Buck Hill (AR) Rogers (KY) with such conditions as may be prescribed by Barraga´ n Cummings Heck Bucshon Holding Rooney (FL) the Architect of the Capitol. Bass Cunningham Higgins (NY) Budd Hollingsworth Rose, John W. The concurrent resolution was con- Beatty Davids (KS) Hill (CA) Burchett Huizenga Rouzer Bera Davis (CA) Himes Burgess Hunter Roy curred in. Beyer Davis, Danny K. Horn, Kendra S. Byrne Hurd (TX) Rutherford A motion to reconsider was laid on Bishop (GA) Dean Horsford Calvert Johnson (LA) Scalise the table. Blumenauer DeFazio Houlahan Carter (GA) Johnson (OH) Schweikert Blunt Rochester DeGette Hoyer Carter (TX) Johnson (SD) Scott, Austin f Bonamici DeLauro Huffman Chabot Jordan Sensenbrenner AUTHORIZING THE PRINTING OF A Boyle, Brendan DelBene Jackson Lee Cheney Joyce (OH) Shimkus F. Delgado Jayapal Cline Joyce (PA) Simpson COMMEMORATIVE DOCUMENT IN Brindisi Demings Jeffries Cloud Katko Smith (MO) MEMORY OF THE LATE PRESI- Brown (MD) DeSaulnier Johnson (GA) Cole Kelly (MS) Smith (NE) DENT OF THE UNITED STATES, Brownley (CA) Deutch Johnson (TX) Collins (GA) Kelly (PA) Smith (NJ) GEORGE HERBERT WALKER Bustos Dingell Kaptur Collins (NY) King (IA) Smucker Butterfield Doggett Keating Comer King (NY) Spano BUSH Carbajal Doyle, Michael Kelly (IL) Conaway Kustoff (TN) Stauber Ms. FUDGE. Madam Speaker, I ask Ca´ rdenas F. Kennedy Cook LaHood Stefanik Carson (IN) Engel Khanna Crawford LaMalfa Steil unanimous consent that the Com- Cartwright Escobar Kildee Crenshaw Lamborn Steube mittee on House Administration be dis- Case Eshoo Kilmer Curtis Latta Stewart charged from further consideration of Casten (IL) Espaillat Kim Davidson (OH) Lesko Taylor Castor (FL) Evans Kind Davis, Rodney Long Thompson (PA) Senate Concurrent Resolution 6, and Castro (TX) Finkenauer Kirkpatrick DesJarlais Loudermilk Thornberry ask for its immediate consideration in Chu, Judy Fletcher Krishnamoorthi Diaz-Balart Lucas Timmons the House. Cicilline Foster Kuster (NH) Duffy Luetkemeyer Tipton The Clerk read the title of the con- Cisneros Frankel Lamb Duncan Marchant Turner Clark (MA) Fudge Langevin Dunn Marshall Upton current resolution. Clarke (NY) Gabbard Larsen (WA) Emmer Massie Wagner The SPEAKER pro tempore. Is there Clay Gallego Larson (CT) Estes Mast Walberg objection to the request of the gentle- Cleaver Garamendi Lawrence Ferguson McCarthy Walden woman from Ohio? Clyburn Garcı´a (IL) Lawson (FL) Fitzpatrick McCaul Walorski Cohen Garcia (TX) Lee (CA) Fleischmann McClintock Waltz There was no objection. Connolly Golden Lee (NV) Flores McHenry Watkins The text of the concurrent resolution Cooper Gomez Levin (CA) Fortenberry McKinley Weber (TX) is as follows: Correa Gonzalez (TX) Levin (MI) Foxx (NC) Meadows Webster (FL) S. CON. RES. 6 Costa Gottheimer Lewis Fulcher Meuser Wenstrup Courtney Green (TX) Lieu, Ted Gaetz Miller Westerman Resolved by the Senate (the House of Rep- Cox (CA) Grijalva Lipinski Gallagher Mitchell Williams resentatives concurring),

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