[Congressional Record (Bound Edition), Volume 160 (2014), Part 2]
[House]
[Page 2829]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  CONSUMER FINANCIAL PROTECTION BUREAU

  (Mrs. DAVIS of California asked and was given permission to address 
the House for 1 minute.)
  Mrs. DAVIS of California. Madam Speaker, in the aftermath of the 
Great Recession, Congress established the Consumer Financial Protection 
Bureau for a very clear reason: to ensure that financial markets and 
services work for all Americans, not just the big banks and best 
connected.
  Today, the CFPB makes sure that consumers get the information they 
need to make smart financial decisions on everything from mortgages to 
credit cards to student loans.
  Today, the House majority will introduce a purely partisan measure 
called the Consumer Financial Protection Safety and Soundness 
Improvement Act. That is a mouthful, if nothing else, but rather than 
improve the CFPB, it would do precisely the opposite by undermining its 
independence and eliminating its rulemaking authority.
  Consumer protections could be scrapped. We must not repeat the same 
costly mistakes that put our economy in the free fall of the Great 
Recession.

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