[Congressional Record (Bound Edition), Volume 157 (2011), Part 14]
[House]
[Page 19841]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  CONSUMER FINANCIAL PROTECTION BUREAU

  (Mrs. CAPPS asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Mrs. CAPPS. Mr. Speaker, I rise today to applaud recent actions taken 
by the Consumer Financial Protection Bureau to better inform American 
consumers. Created last year by the Dodd-Frank Wall Street Reform law, 
the CFPB's mission is to take the tricks and traps out of financial 
products we use every day like credit cards and mortgages.
  So even though GOP Senators are filibustering the confirmation of the 
agency's top official, the Bureau is already at work on behalf of 
consumers. This project, Know Before You Owe, aims to simplify credit 
card agreements and student loan disclosure forms so consumers know 
exactly what they're getting into when they borrow.
  Importantly, CFPB is asking consumers for their input on this 
important task. So I encourage all citizens to visit 
consumerfinance.gov to share their experiences about credit cards and 
loan agreements. Consumers can also file complaints about credit card 
companies or mortgage services and learn how to protect themselves from 
financial scams.
  For the first time, we have a dedicated watchdog looking out 
exclusively for the interests of consumers. I urge all American 
consumers to take advantage of these great new resources.

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