The Financial Choice Act, which just passed through the House on a party-line vote, doesn’t just seek to prevent the Consumer Financial Protection Bureau from regulating banks, credit card companies, debt collectors, and payday lenders. A last-minute amendment to the bill could strip the Bureau of its offices. [More]
financial choice act
GOP Doesn’t Just Want To Weaken Consumer Financial Protection Bureau; They Want To Sell Off Its Offices
June 8, 2017
House Passes CHOICE Act In Move To Roll Back Consumer Financial Protections
June 8, 2017
The House of Representatives voted today to pass the Financial CHOICE Act, a piece of legislation that, if enacted, would strip away a number of consumer protections put in place following the devastating collapse of the housing market. [More]
AGs Blast Financial CHOICE Act, Urge Congress To Reject Proposed Bill
By 6.7.17 — Updated: 6.9.17
With legislation to roll back consumer protections and gut the Dodd-Frank Wall Street Reform and Consumer Protection Act expected to be discussed by the House as early as this week, several states are urging lawmakers to reject the legislation. [More]
Report: Financial CHOICE Act Would Harm Servicemembers
By 6.6.17 — Updated: 6.9.17
Since its creation, the Consumer Financial Protection Bureau has worked to protect servicemembers from ne’er-do-wells that aim to line their own pockets by taking advantage of those who protect us; from fining auto lenders for failing to issue refunds to servicemebers to ordering banks to pay for their bad debt collection practices. But with a bill to gut the agency’s power making its way through the legislature, these types of protections come to a screeching halt. [More]
‘Financial CHOICE Act 2.0’ Rolling Back Consumer Protections Moves Forward
By 5.4.17 — Updated: 5.9.17
The House Financial Service Committee approved the Financial CHOICE Act 2.0 today, signaling the first concrete move to roll back consumer protections and gut the Dodd-Frank Wall Street Reform and Consumer Protection Act. [More]
‘Financial Choice Act 2.0’ Would Eliminate Government’s Ability To Go After Shady Payday Loan Operations
By 4.21.17 — Updated: 5.9.17
Even though recent surveys indicate that the overwhelming majority of Americans want more regulation of payday lending, federal lawmakers are attempting to strip the Consumer Financial Protection Bureau of any authority over these short-term, high-cost loans. [More]
Bank-Backed Congressman Introducing Law To Gut Consumer Financial Protections
By 2.9.17
Less than a week after President Trump signed a mostly symbolic executive order directing federal regulators to revise the rules established by the 2010 financial reforms, one lawmaker (whose campaign just happens to have been heavily financed by big banks) is planning to introduce legislation to scale back consumer protections and allow banks to take more risks. [More]
