[Congressional Record Volume 171, Number 86 (Wednesday, May 21, 2025)]
[Senate]
[Pages S3079-S3080]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2244. Mr. DURBIN (for himself and Mr. Warnock) submitted an 
amendment intended to be proposed by him to the bill S. 1582, to 
provide for the regulation of payment stablecoins, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. FEDERAL CONSUMER FINANCIAL LAW SAVINGS CLAUSE.

        No authority granted or conferred to a primary Federal 
     payment stablecoin regulator or State payment stablecoin 
     regulator under this Act, or pursuant to any rule or order 
     issued thereunder, or pursuant to any other provision in this 
     Act, shall be construed, either directly or in conjunction 
     with any other provision of law, including the Consumer 
     Financial Protection Act of 2010 (Public Law 110-203; 124 
     Stat. 1955) and the Electronic Fund Transfer Act (15 U.S.C. 
     1693 et. seq.), to limit or otherwise abridge the authority 
     of the Director of the Consumer Financial Protection Bureau 
     to enforce Federal consumer financial laws with respect to 
     any person. For the avoidance of doubt, the Consumer 
     Financial Protection Bureau has jurisdiction over permitted 
     payment stablecoin issuers to enforce the consumer financial 
     laws under the purview of the Consumer Financial Protection 
     Bureau, and all enumerated consumer protection provisions 
     under the Consumer Financial Protection

[[Page S3080]]

     Act of 2010 (12 U.S.C. 5481 et seq.) are applicable to 
     payment stablecoins.
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