Political Quotes

“This is the final amendment to the bill. It will not kill the bill or send it back to committee. If adopted, the bill will proceed immediately to final passage as amended. We all agree that the men and women who serve in our Nation's military should be afforded every opportunity to live the American Dream that they risked their lives to defend. Unfortunately, too often our servicemembers, veterans, and their families fall victim to unfair and abusive financial practices. In 2014 alone, the Consumer Financial Protection Bureau received more than 17,000 complaints from servicemembers, veterans, and their families on a variety of issues, from deceptive subprime auto lending to troublesome credit card fees and predatory mortgage loans. That same year, the CFPB was able to return more than $1.6 million to these families. The CFPB is a vital watchdog for American consumers. {time} 1545 The bill before us today would delay the enforcement of the CFPB's rule regarding disclosures that mortgage lenders must provide to home buyers. Additionally, the bill would permanently eliminate a borrower's ability to enforce his or her legal rights if a lender fails to disclose or obscures important information for all loans originated over the next 5 months so long as the error is made ``in good faith,'' a term that the bill does not define and that substantially narrows existing protections for consumers afforded under the Truth in Lending Act.…”