Political Quotes

“Madam Chair, I rise today in support of my amendment to H.R. 1500 and in support of the Consumers First Act. I also want to thank Chairwoman Waters for her leadership and her stewardship in this endeavor. I am proud to cosponsor this bill, which will return the Consumer Bureau to its intended role as a nonpartisan consumer watchdog that protects the interests of American taxpayers, not those of special interests. In 2017, the Urban Institute found that 71 million Americans had a debt in collection on their credit report. Meanwhile, collectors estimate they contact consumers more than a billion times a year--a billion. During the 2008 financial crisis, people lost homes, jobs, and hard- earned wealth. This crisis was the prime example of what can happen when nobody is looking out for the consumers who are left to navigate a financial system built to confuse, mystify, and capitalize on the most vulnerable. In response, Democrats created the Consumer Financial Protection Bureau, an agency with the sole mission of protecting consumers and holding lenders accountable when they put profits over people. In my home State of Massachusetts, 46 percent of those living in communities of color have debt in collections compared to only 18 percent of residents in predominantly White areas. We know that debt collectors engage in some of the most aggressive tactics: harassing, berating, and even falsely threatening legal action against vulnerable consumers.…”