On the recordJuly 25, 2017
As representatives of the people, our job is to protect working families. So let's be clear, we should be protecting consumers, including members of our military who sacrifice so much for us. When a predatory lender forces arbitration, it puts consumers into a system where their grievances don't get the fair treatment of a court. Instead, a law firm handpicked by the corporation will decide the outcome, putting the consumer at an extreme disadvantage from the start. The CFPB issued a long, overdue role to prohibit this unfair practice that benefits wealthy special interests at the expense of the American people. So why would we take a step back? Even worse, these predatory lenders often prey on our military, so we should be protecting our military to have transparent and just legal options. Forced arbitration is just the opposite. Mr. Speaker, we need a process that works for consumers. This resolution will only bring us back to a broken system. Mr. Speaker, I urge my colleagues to join me in striking down this resolution.
