[Congressional Record (Bound Edition), Volume 157 (2011), Part 8]
[House]
[Page 11681]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    CONSUMER PROTECTIONS THREATENED

  (Mrs. CAPPS asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Mrs. CAPPS. Madam Speaker, last year we enacted historic new consumer 
protections as part of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act.
  This landmark law created the Consumer Financial Protection Bureau, 
the first Federal regulator dedicated exclusively to protecting 
consumers from deceptive practices and potentially harmful financial 
products and services. Protecting consumers from predatory lending and 
confusing credit cards is something we should all be able to agree on. 
It is good for consumers, and it is good for businesses that want to 
know their competitors are playing by the rules. But the majority has 
made it clear they don't like these new protections and has worked 
actively to undermine them.
  This week, the House will consider H.R. 1315, a bill that increases 
bureaucratic redtape and seriously weakens the bureau's authority to 
protect consumers. Sadly, the majority is yet again choosing Wall 
Street and its high-paid lobbyists over middle class families. I urge 
my colleagues to put the needs of Main Street over those of Wall Street 
and vote ``no'' on H.R. 1315.

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