[Congressional Record Volume 172, Number 81 (Wednesday, May 13, 2026)]
[Senate]
[Pages S2271-S2272]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  PROVIDING FOR CONGRESSIONAL DISAPPROVAL UNDER CHAPTER 8 OF TITLE 5, 
  UNITED STATES CODE, OF THE RULE SUBMITTED BY THE BUREAU OF CONSUMER 
FINANCIAL PROTECTION RELATING TO THE WITHDRAWAL OF THE RULE RELATING TO 
    ``STATEMENT OF POLICY REGARDING PROHIBITION ON ABUSIVE ACTS OR 
                     PRACTICES''--Motion to Proceed

  Mr. DURBIN. Mr. President, I move to proceed to Calendar No. 395, 
S.J. Res. 147.
  The PRESIDING OFFICER. The clerk will report the motion.
  The senior assistant legislative clerk read as follows:

       Motion to proceed to Calendar No. 395, S.J. Res. 147, a 
     joint resolution providing for congressional disapproval 
     under chapter 8 of title 5, United States Code, of the rule 
     submitted by the Bureau of Consumer Financial Protection 
     relating to the withdrawal of the rule relating to 
     ``Statement of Policy Regarding Prohibition on Abusive Acts 
     or Practices''.

  Mr. DURBIN. Mr. President, I was proud in 2008 during the financial 
crisis facing this country to join a majority of Senators in creating 
the Consumer Financial Protection Bureau. This Bureau has been a 
watchdog for consumers ever since.
  Congress took steps to strengthen consumer protection laws after this 
crisis which centered on mortgage lenders profiting on loans doomed to 
fail. Millions of Americans lost their homes. The unemployment rate was 
10 percent.
  Shortly after, Congress passed this Consumer Financial Protection Act 
to address consumer protection failures and to ban abusive financial 
conduct to ensure fair dealing and protect consumers.
  The CFPB issued guidance on what constitutes financial abuse, warning 
bad actors, and making it easy to enforce the law.
  In 2023, the Biden CFPB issued a policy statement that spelled out by 
legal definition the abusive conduct and provided summaries and 
explanations as how to analyze the abusers. For example, the CFPB 
explained that abusive practices include obscuring or withholding 
information on mortgages in a

[[Page S2272]]

way that makes it difficult for consumers to understand them--same 
thing for credit card agreements, same thing for financial contracts 
and for student loans. The guidance warned bad actors about engaging in 
these practices and deterring abusive conduct, making it easier to 
bring enforcement actions when it occurs. The Trump administration 
withdrew this guidance and protection, and this JRD seeks to restore 
it.

  Now, I ask those who want to stand up for families that are 
struggling with their expenses today to vote yes and those who want to 
approve of low-rent, bottom-feeder, sleazy conduct by cheaters to vote 
no.


                       Vote on Motion to Proceed

  The PRESIDING OFFICER. The question is on agreeing to the motion to 
proceed.
  In the opinion of the Chair, the noes have it.
  The motion was rejected.
  The PRESIDING OFFICER. The Senator from Vermont.

                          ____________________