[Congressional Record Volume 161, Number 120 (Tuesday, July 28, 2015)]
[House]
[Page H8536]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   PROTECTING CONSUMERS FROM THE CONSUMER FINANCIAL PROTECTION BUREAU

  (Mr. GUINTA asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. GUINTA. Mr. Speaker, I rise today because I am outraged that 
government agencies like the Consumer Financial Protection Bureau have 
denied public participation to allow consumers and businessowners to 
comment on regulations that directly impact them.
  In 2013, the CFPB implemented guidance that would prevent families 
and individuals from obtaining auto financing discounts. This guidance 
not only affects the American auto industry and the hundreds of hard 
working auto dealers in the Granite State, but it also affects Granite 
State families and individuals--for example, the young couple in 
Manchester who is struggling to afford a new minivan to accommodate a 
growing family or, for example, the startup logistics company in Conway 
that is wishing to add another truck to its fleet to grow its business.
  Congress created the CFPB to protect consumers, not to hurt them. If 
the CFPB really cares about developing policies that are truly in the 
best interests of consumers, it should amend its guidance and be more 
transparent.
  That is why I introduced H.R. 1737, a bipartisan bill to rein in the 
CFPB's overreach and to merely bring more transparency, accountability, 
and clarity to the formal rulemaking process. H.R. 1737 will reverse 
this misguided CFPB indirect auto financing guidance and will allow the 
public's voice to be heard.

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