Political Quotes

“Let's talk about a stacked deck: trial attorneys putting cash over conscience. That is not the answer that we are in search of, but it is the answer that others who are opposed to this certainly are. The CFPB, the so-called Consumer Financial Protection Bureau, has a study itself that shows that consumers who actually use arbitration reach more favorable outcomes than those who are roped into lawsuits with cash-starved trial lawyers. It is astounding that only 13 percent of these lawsuits provide any benefit to actual consumers, but the Bureau is still pushing this ill- advised rule. Arbitration decisions also come much more quickly for consumers. Again, the Bureau's own study concludes that arbitration decisions come 12 times faster than lawsuits. So let's review quickly: a faster, more favorable outcome for consumers versus helping trial lawyers line their pockets. This should not be hard. In fact, Mr. Speaker, according to the D.C. Circuit Court, unelected Bureau Director Cordray has more unilateral authority than any other single commissioner or board member in any other independent agency in the entire U.S. Government. Congress must begin to use its authority to hold this agency accountable for its anticonsumer policies and actually provide the checks and balances that our Founders would have intended. That is the stacked deck that we have right now, folks.…”