Political Quotes

“This is the final amendment to the bill and will not kill the bill or send it back to committee. If adopted, the bill will immediately proceed to final passage, as amended. Mr. Speaker, just a few years after a financial meltdown that crashed our economy and punished middle class families, some politicians here want to go back to the days when Wall Street wrote its own rules and consumers got the short end of the stick. We all know how that worked out. It brought a tremendous financial crisis. The Consumer Financial Protection Bureau emerged out of the ashes of that financial disaster. Congress had learned a hard lesson: consumers needed a watchdog. That is what the Consumer Financial Protection Bureau is all about. It is a watchdog for consumers. It stands up for people, including students, seniors, and veterans who are often targeted by predatory financial lenders with shady products. Why on earth would we want to hamper the CFPB? In its short lifetime, the Bureau has secured more than $3 billion for nearly 10 million consumers, including members of the military. It has received more than 270,000 consumer complaints. It has taken action against any payday lenders and debt collectors who take unfair advantage of our Nation's consumers. The CFPB is working to protect consumers from some of the worst abuses in the financial marketplace, but the bill we are considering today would undermine its work.…”