[Congressional Record (Bound Edition), Volume 161 (2015), Part 12]
[House]
[Page 17037]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   VETERANS AND CONSUMER PROTECTIONS

  (Ms. BONAMICI asked and was given permission to address the House for 
1 minute.)
  Ms. BONAMICI. Mr. Speaker, next Wednesday is Veterans Day, and we 
will recognize and thank the millions of men and women who have put 
their lives on the line for our freedom.
  One way to honor those who have served is to make certain that our 
veterans--and all Americans--are protected from predatory payday 
lenders, who leave them saddled with insurmountable debt. That is why I 
am speaking out today to urge the Consumer Financial Protection Bureau 
to pass strong rules that protect veterans and all Americans from these 
harmful practices.
  In Oregon and around the country, predatory lenders prey on consumers 
who have fallen on hard times. When consumers cannot pay back the 
loans, with fees and interest rates that can dwarf the amount of the 
underlying loan, they find themselves in financial ruin.
  The CFPB must act quickly to develop rules to protect veterans and 
all Americans.

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