I appreciate the surface-level intentions of those who support this bill, things like checking the abuse of the Federal Government's power. But this comprehensive package would leave both consumers and creditors worse off than they are today. Certainly, there are elements that I do support, notably, language from the Fair Debt Collection Practices for Servicemembers Act. I was proud to cosponsor that particular bill when introduced by Ms. Dean from Pennsylvania, which passed the House last month. The Fair Debt Collection Practices for Servicemembers Act would ensure that debt collectors won't be able to threaten military servicemembers with a reduction in rank or have their security clearances revoked. Frankly, that keeps our military focused on fighting and winning our wars, instead of being co-opted into debt collection. But this is a truly partisan bill as packaged together, and it exemplifies what good work we can do when we work together in a bipartisan fashion, to see some of the components of it, and what can be done to undermine that work when it is all put together in the final package that we have before us here today. Once I took a look and saw the rest of this bill, the excitement I had for the components that I do support quickly dissipated. Taken as a whole, this overwhelmingly partisan bill amounts to a direct attack on creditors and an indirect attack on consumers.…
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