Political Quotes

“Woman, I rise today to offer an amendment to H.R. 1500, the Consumers First Act. I thank Chairwoman Waters and my colleagues for their leadership in restoring essential functions of the Consumer Financial Protection Bureau, which this administration so recklessly rolled back. During my years of work as a consumer protection attorney, I learned firsthand how strong consumer protection laws help to keep Americans financially secure. This administration's efforts to weaken the CFPB have harmed millions of people across the country, including young consumers and student borrowers. I commend my colleagues for including in the original bill the restoration of the CFPB's Office of Students and Young Consumers, which this administration closed last year. Shutting down this office diminished the CFPB's mission and weakened its enforcement capabilities. Before its closure, this office returned more than $750 million to students and student loan borrowers through actions against unscrupulous student loan servicers. They also helped more than 60,000 borrowers who submitted complaints about the student loan industry to the CFPB. Notably, in January of 2017, the CFPB and the Office of Students and Young Consumers stood up to the Nation's largest student loan servicer, Navient, for misallocating payments and improperly steering borrowers away from income-based repayment plans.…”