Deborah Koff Ross: “As we pointed out yesterday, the SCRUB Act requires the commission to identify regulations that should be repealed. The…”

“As we pointed out yesterday, the SCRUB Act requires the commission to identify regulations that should be repealed. The commission focuses on rules and regulations that are out of date, no longer useful, and otherwise unnecessary or obsolete. As I stated yesterday, no regulations should be exempt from this bill. Not all consumer protection regulations are created equal. If the regulation is important, effective and still relevant, then let it stand. If the regulation is not effective, no longer valuable and unnecessary, then why keep it around? This amendment is just another wrong-headed carve-out that will end up hurting student loan borrowers more than it could possibly help them. And for those reasons, Mr. Chairman, I urge my colleagues to oppose this amendment, and I reserve the balance of my time.”