Lois Capps: “Last year we enacted historic new consumer protections as part of the Dodd-Frank Wall Street Reform and Consumer…”

“Last year we enacted historic new consumer protections as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This landmark law created the Consumer Financial Protection Bureau, the first Federal regulator dedicated exclusively to protecting consumers from deceptive practices and potentially harmful financial products and services. Protecting consumers from predatory lending and confusing credit cards is something we should all be able to agree on. It is good for consumers, and it is good for businesses that want to know their competitors are playing by the rules. But the majority has made it clear they don't like these new protections and has worked actively to undermine them. This week, the House will consider H.R. 1315, a bill that increases bureaucratic redtape and seriously weakens the bureau's authority to protect consumers. Sadly, the majority is yet again choosing Wall Street and its high-paid lobbyists over middle class families. I urge my colleagues to put the needs of Main Street over those of Wall Street and vote ``no'' on H.R. 1315. ____________________”