Congress repeals rule to protect consumer rights to class action

Source: Consumer Action

Washington, D.C. - October 30, 2017 - (The Ponder News) -- The U.S. Senate passed a resolution (S.J. Res. 47) yesterday to repeal the new Consumer Financial Protection Bureau (CFPB) rule to restore consumers’ rights to band together to hold banks and lenders accountable in class action lawsuits when the companies break the law.

The CFPB conducted a five-year study that revealed the negative impact of forced arbitration on consumers before spending two years crafting a rule to prevent companies from keeping wronged customers from joining class actions. Despite the care taken by CFPB, Republicans in Congress have voted to throw out the Bureau’s efforts before the ink is even dry on the rule announced just this summer.

In our view, the Senate has declared war on consumers and given a big fat gift to companies like Equifax and Wells Fargo, who now can continue to abuse and defraud customers without fear of liability. Because of the short-sightedness of many in Congress, giant banks and other corporations regulated by the CFPB can rest assured that no matter how they treat their customers, those customers will be prevented from collective redress.

Republicans in Congress have decided: There will be NO meaningful justice for consumers wronged by the wealthy and powerful.

Senate votes to undermine Americans’ right to a day in court

Source: National Consumers League



Washington, D.C. - October 26, 2017 (The Ponder News) -- The National Consumers League (NCL) condemns the Senate’s passage of a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau’s (CFPB) arbitration rule. The rule would have allowed consumers access to courts after big banks like Wells Fargo steal their identity, or credit bureaus like Equifax compromise consumers’ most personal information.

The following statement is attributable to Sally Greenberg, NCL executive director:

“Last night, while most Americans were sleeping, 50 Senate Republicans and Vice President Mike Pence voted to take away our sacred right to a day in court. Today, in the aftermath of massive financial wrongdoings like Wells Fargo’s nearly 1.4 million fraudulent accounts scandal or Equifax’s massive data breach, financial companies will continue to be free to bury binding arbitration clauses in their terms of service. These ‘rip-off clauses’ are designed to prevent consumers from having their day in court or joining together to form a class action lawsuit after they are harmed.

In fact, earlier this year the NCL Board of Directors voted to take NCL’s operating capital out of Wells Fargo and switch to Bank of Labor precisely because of Wells’ requirement that customers to give up their rights. Bank of Labor, Bank of America and many credit unions are thriving without forcing their customers to sign away rights through these odious ‘rip-off clauses.” We applaud CFPB director Richard Cordray, whom NCL is honoring this evening, for his efforts to protect the consumer rights that were just taken away in one fell swoop by this unfortunate Senate vote.

The Senate’s decision to side with Wall Street over consumers is shameful. The denial of one of our most basic rights as Americans -- the right to our day in court -- is a massive step backwards for consumers and our nation. While this may be a setback, the National Consumers league will continue fighting before Congress and the Administration to reaffirm consumers basic rights, including, the right to justice.”

The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad.

Foxx Praises Exit of Consumer Financial Protection Bureau in Student Loan Servicing

Source: Committee on Education and the Workforce



Washington, D.C. - September 3, 2017 (The Ponder News) -- Rep. Virginia Foxx (R-NC), chairwoman of the House Committee on Education and the Workforce, issued the following statement praising the Department of Education’s decision to end its Memorandum of Understanding with the Consumer Financial Protection Bureau (CFPB) regarding the oversight of student loan servicing:


“Congress bestowed the powers to oversee student loans and student loan servicing solely to the Department of Education, and it was a mistake for the Obama administration to have the Department of Education let the CFPB abuse its privilege on these matters. The Department of Education has made it clear that its partnership with the CFPB is doing more harm than good when it comes to how it can best serve students and borrowers.

“Specifically, the department has shown that a partnership with the CFPB was complicating and undermining its efforts to act in the best interest of borrowers and students. I am pleased that the department is taking its authority back from the CFPB, and remains committed to serving borrowers and students first.”

Click here to read the full letter from the Department of Education.

Japan, Mining, Obamacare, Neil Gorsuch, AIDS, Statue, Fair Pay, Federal Public Access, Gateway West Transmission Line, Education, Russia, Veterans, Consumer Financial Protection Bureau, Contamination, Clean Air

Roe Statement on the Nomination of Bill Hagerty of Tennessee to be U.S. Ambassador to Japan
Phil Roe (R-TN, 1st)
March 24, 2017
“I am thrilled President Trump has nominated a great Tennessean, Bill Hagerty, to serve as Ambassador Extraordinary and Plenipotentiary of the United States of America to Japan. With superb credentials, Bill served under Tennessee Governor Bill Haslam as the Commissioner of the Department of Economic and Community Development, where his leadership helped make Tennessee the top state for jobs and economic growth from 2013 to 2015. I congratulate him and thank President Trump for this nomination. I’m confident Bill will be a successful conduit for U.S.-Japan relations.”
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Bipartisan RECLAIM Act of 2017 Introduced for 115th Congress
Harold Rogers (R-KY, 5th)
March 27, 2017
Congressional leaders united across the aisle and the Capitol Dome to reintroduce the bipartisan RECLAIM Act. The legislation aims to accelerate $1 billion in available funding in the Abandoned Mine Reclamation (AML) Fund over the next five years to revitalize coal communities hit hardest by the downturn of the coal industry. The RECLAIM Act: Revitalizing the Economy of Coal Communities by Leveraging Local Activities and Investing More, was filed today in both chambers by Senate Majority Leader Mitch McConnell (R-Ky.), Sen. Shelley Moore Capito (R-WV), Rep. Hal Rogers (R-Ky.), Rep. Matt Cartwright (D-Pa.), Rep. Evan Jenkins (R-WV.), Rep. Morgan Griffith (R-Va.) and Rep. Glenn “GT” Thompson (R-Pa.).
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Rohrabacher: Congress and the Administration will Rally to End Obamacare
Dana Rohrabacher (R-CA, 48th)
March 27, 2017
With Obamacare still in place, the hardship and pain brought on by the last administration’s nonsensical healthcare policy will increase. As time goes on and payments double and quadruple, insurance companies end service, and Americans find themselves paying more and getting less, the need for dramatic change will become even more evident than it is today. So expect Republicans to bring the issue back in a more perfected form.
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ROKITA BILL SIGNED INTO LAW BY PRESIDENT TRUMP
Todd Rokita (R-IN, 4th)
March 27, 2017
“The Obama-era accountability rule disregarded Congressional intent and would have taken authority away from local school corporations and given it back to Washington. This law signed by the President today undoes that rule, making sure that local education leaders have the ability and flexibility to craft plans for their schools that address the unique needs of their students. The previous Washington-knows-best approach to education has officially ended, and I am proud of our work here to ensure that our nation’s education system is working for students, not federal bureaucrats.”
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Rooney Extremely Disappointed with Senator Bill Nelson
Tom Rooney (R-FL, 17th)
March 27, 2017
“Today, Florida Senator Bill Nelson stated that he will vote no on Judge Neil Gorsuch’s confirmation. I am extremely disappointed, though utterly unsurprised, that Senator Nelson would put political posturing above the needs of the American people. Ten years ago, not a single Democratic Senator opposed Neil Gorsuch’s confirmation for the U.S. Court of Appeals for the 10th Circuit, including Senator Nelson. Nelson has not provided any substantive concerns or misgivings as to why he supported Gorsuch in the past but will not vote to confirm now. Nelson is hypocritically putting his own wants and needs above objectively considering a Judge who has shown nothing but full capability to serve on the Supreme Court. He should be ashamed of himself and I hope Florida voters replace him next year in the 2018 election. Unfortunately because of the actions of Senators like Bill Nelson who are threatening a filibuster for a capable jurist, Republicans may be forced to exercise the nuclear option.”
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HIV Caucus Co-Chairs Reintroduce Bipartisan Bill to Eliminate Discriminatory HIV/AIDS Laws
Ileana Ros-Lehtinen (R-FL, 27th)
March 27, 2017
HIV Caucus Co-Chairs U.S. Representatives Barbara Lee and Ileana Ros-Lehtinen reintroduced the REPEAL HIV Discrimination Act 2017, which would modernize laws and policies to eliminate discrimination against those living with HIV/AIDS. This bill expresses the sense of Congress that federal and state laws, policies, and regulations should not place a unique or additional burden on individuals solely as a result of their HIV status, and offers a step-by-step plan to work with states to modernize their laws.
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Roskam Statement on Russia Protests
Peter J. Roskam (R-IL, 6th)
March 27, 2017
“I’m encouraged by reports of peaceful demonstrations across Russia against the corrupt, autocratic regime in Moscow. Vladimir Putin has made a mockery of human rights and democracy both at home and abroad. We must support the Russian people, as well as our allies in Eastern Europe and Central Asia, in their struggle against Putin’s authoritarianism and expansionism.”
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Congressman Royce Applauds Decision to Let Comfort Women Statue Stand
Ed Royce (R-CA, 39th)
March 27, 2017
“I applaud the Supreme Court's decision to let the Glendale Peace Memorial stand. By remembering the past, including the women who suffered immensely, we help ensure these atrocities are never committed again. Now that the highest court in the land has spoken, I hope those who’ve wasted years trying to rewrite history will finally move on.”
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Schakowsky statement on Republican attack on American workers
Jan Schakowsky (D-IL, 9th)
March 28, 2017
“Repealing the Fair Pay and Safe Workplaces rule is an outrageous affront to the American taxpayer and the American worker. These protections simply required companies seeking government contracts to disclose their labor violations, like not complying with workplace safety standards or breaking wage theft and non-discrimination laws. American taxpayers deserve to know how their dollars are being spent, and if they are going to law-breakers. Repealing these protections is not fair to the workers whose labor rights have been violated. It is not fair to put companies that abide by the law and respect their employees at a competitive disadvantage. I will continue to fight for better, higher-paying jobs; greater protections for workers; and safer, more inclusive workplaces.”
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Representatives Johnson, Sensenbrenner Question Federal Public Access Policies
James F. Sensenbrenner (R-WI, 5th)
March 28, 2017
Representatives Eddie Bernice Johnson (D-TX) and Jim Sensenbrenner (R-Wis.) sent the following letter to the Government Accountability Office, asking it to evaluate the status, effectiveness and benefits of current federal public access policies. This letter builds upon previous legislative efforts between these Members to ensure taxpayers, who are footing the bill for federal research, have adequate access to the published results free of charge.
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Simpson, Labrador Introduce Agreement on Gateway West Transmission Line
Mike Simpson (R-ID, 2nd)
March 27, 2017
Congressman Mike Simpson and Congressman Raul Labrador have introduced legislation to address the routing of the Gateway West Transmission Line, through the Snake River Birds of Prey National Conservation Area (NCA). The project – jointly proposed by Idaho Power and Rocky Mountain Power - will construct and operate 1,000 miles of high voltage transmission line across Wyoming and Idaho and creates more than 1,200 jobs and represents $3.5 billion in economic investment. The legislation is a compromise agreement between key stakeholders in Idaho including the State of Idaho, Idaho Power, and conservation organizations.
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Ranking Member Smith Reintroduces Legislation to End Harmful Effects of Sequestration
Adam Smith (D-WA, 9th)
March 28, 2017
It is apparent that the mechanism of sequestration is not effective or necessary to spur the creation of a comprehensive deficit reduction plan. In fact, the author of the 1987 law that first employed the sequester as an enforcement mechanism never intended for the sequester to be triggered; rather that only the threat of it be used to spur action and compromise. Clearly, it has failed in that regard. The Relief from Sequestration Act of 2017 would end years of harmful and unnecessary cuts to discretionary programs by eliminating the automatic across-the-board cuts that are triggered anytime a discretionary account goes beyond the BCA caps.
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SOTO ANNOUNCES NATIONAL DIRECT CONNECT LEGISLATION COMING SOON
Darren Soto (D-FL, 9th)
March 27, 2017
Soto’s bill will scale up this proven model and take it nationwide. The “Direct Connect to Success Act” will require each state to designate one or more public universities to establish a Direct Connect program open to students of all that state’s community colleges. Direct Connect will provide graduates of a two-year community college with at least a 2.0 GPA to be guaranteed admission into a participating four-year state university.
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Congresswoman Speier Calls on Chairman Nunes to Recuse Himself from House Intelligence Committee Investigation into Russia’s Ties to Trump Team
Jackie Speier (D-CA, 14th)
March 27, 2017
“My fears have been validated. Through his bizarre and partisan actions over the last week, Chairman Nunes has demonstrated to the entire nation why he is unfit to lead our critical investigation into ties between President Trump’s Administration and Moscow. The Chairman’s admission this morning that he met with an unnamed ‘source’ on White House grounds ‘in order to have proximity to a secure location where he could view [classified] information’ is the last straw. This implies that the Chairman and the White House colluded in a desperate attempt to salvage the President’s credibility, after the President’s bogus wiretapping claims were debunked by his own FBI Director,” Rep. Speier said.
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Rep. Stewart Participates in White House Bill Signing to Rollback Regulations
Chris Stewart (R-UT, 2nd)
March 27, 2017
"I applaud today’s signing of H.J. Res 44, making the critical and necessary move to roll back the BLM Planning 2.0 Rule. This rule ignored thousands of meaningful comments submitted by state and local officials. By signing this resolution of disapproval, President Trump is returning power back to the states and local communities.”
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Swalwell Urges Intelligence Chairman Devin Nunes to Recuse Himself from Trump-Russia Investigation
Eric Swalwell (D-CA, 15th)
March 27, 2017
“Russia attacked our democracy this last election. Our constituents are counting on us to find out how they did it, whether any U.S. persons assisted them, and how to make sure it never happens again. That requires an impartial pursuit of the truth. So far, too many people in the White House and Administration, and now, the Chairman of the House Intelligence Committee, have betrayed their duty to conduct an independent, bipartisan inquiry into the Trump team’s ties with Russia.
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TENNEY AND COLLINS CALL ON VA SECRETARY TO ADDRESS ONGOING PROBLEMS WITH VETERANS CRISIS LINE
Claudia Tenney (R NY, 22nd)
March 28, 2017
Congresswoman Claudia Tenney (NY-22) and Congressman Chris Collins (NY-27) joined together to call on the Secretary of the Department of Veterans Affairs to investigate ongoing problems with the Veterans Crisis Line (VCL). In a bipartisan letter to the Secretary of the VA, Tenney and Collins requested that the VA provide information on changes being made to the VCL to ensure deficiencies in the program are overcome efficiently. The letter was signed by 86 Members of Congress.
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COLUMN: The CFPB Goes Against Government of the People, by the People
Scott Tipton (R-CO, 3rd)
March 27, 2017
The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank Act as an independent agency within the Federal Reserve System, with the purpose of regulating consumer financial products. The core mission of the CFPB, protecting consumers from bad actors, is important, but we should all be concerned about the unconstitutional structure of the Bureau.
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Reps. Tonko & Pallone Introduce Bill to Clean & Restore Contaminated Industrial Sites
Paul D. Tonko (D-NY, 20th)
March 28, 2017
“The EPA Brownfields Program works to clean up contaminated properties and put them back to use. In so doing, it has an important economic multiplier for local communities, turning environmentally degraded areas into productive economically active sites. With an estimated 450,000 brownfield sites across the country, we have a lot of work left to do. This legislation delivers funding, flexibility, capacity-building and technical assistance to those that want to turn unproductive land into positive development. I want to thank Ranking Member Pallone for his leadership on this issue, and I look forward to continuing our efforts to reauthorize and expand this proven program.”
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Tsongas Statement on Trump's "Dirty Air" Executive Order
Niki Tsongas (D-MA, 3rd)
March 28, 2017
President Donald Trump is set to sign an executive order later today that attempts to undo President Obama’s Clean Power Plan, as well as undermine other environmental conservation and climate change prevention efforts.
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