Political Quotes

“I appreciate my friend from Pennsylvania's comments, but, apparently, consumer protection is not high on the list of priorities for the other side of the aisle. I would just say, this particular piece of legislation, H.R. 2547, has many good aspects, a number of which are bipartisan in nature: It codifies the protections that currently exist under the FTC regulation for consumer loans prohibiting the use of confessions of judgment that waive due process protections, and extends those protections to commercial loans to protect small and minority-owned businesses. It prohibits debt collectors from threatening a servicemember with reduction in their rank and revoking their security clearance or prosecuting them under the Uniform Code of Military Justice, and requires a GAO study on the impact of debt collection on servicemembers. It requires discharge of private student loans for both the borrower and cosigner in the case of permanent disability of the borrower, extending protections that currently exist for Federal student loans. So it assists people with serious disabilities. It requires private lenders who are notified the Federal Government has discharged the Federal student loans of a borrower to discharge the private student loans of that same borrower. It bars entities from collecting medical debt or reporting it to a consumer reporting agency without giving the consumer a notice about their rights.…”