Today, the U.S. House of Representatives passed H.R. 1500, the Consumers First Act, legislation introduced by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, to block the Trump Administration’s anti-consumer agenda and reverse their past efforts to undermine the mission of the Consumer Financial Protection Bureau (Consumer Bureau).
The bill passed by a vote of 231-191 with the adoption of 14 amendments offered by Rep. Alma Adams (D-NC), Rep. Suzanne Bonamici (D-OR), Rep. Anthony Brown (D-MD), Rep. Ed Case (D-HI), Rep. Steve Cohen (D-TN), Rep. Mark DeSaulnier (D-CA), Rep. Veronica Escobar (D-TX), Rep. Jared Golden (D-ME), Rep. Al Green (D-TX), Rep. Al Lawson (D-FL), Rep. Joe Neguse (D-CO), Rep. Ayanna Pressley (D-MA), Rep. Harley Rouda (D-CA), Rep. Haley Stevens (D-MI), Rep. Rashida Tlaib (D-MI), and Rep. Nydia Velázquez (D-NY).
The House rejected four anti-consumer amendments offered by House Republicans.
This legislation is supported by over 50 consumer, civil rights, housing and labor organizations and cosponsored by Rep. Carolyn Maloney (D-NY), Rep. Nydia Velázquez (D-NY), Rep. Brad Sherman (D-CA), Rep. Gregory Meeks (D-NY), Rep. Wm. Lacy Clay (D-MO), Rep. David Scott (D-GA), Rep. Al Green (D-TX), Rep. Emanuel Cleaver (D-MO), Rep. Ed Perlmutter (D-CO), Rep. Jim Himes (D-CT), Rep. Bill Foster (D-IL), Rep. Joyce Beatty (D-OH), Rep. Denny Heck (D-WA), Rep. Juan Vargas (D-CA), Rep. Vicente Gonzalez (D-TX), Rep. Al Lawson (D-FL), Rep. Michael San Nicolas (D-GU), Rep. Rashida Tlaib (D-MI), Rep. Katie Porter (D-CA), Rep. Cindy Axne (D-IA), Rep. Ayanna Pressley (D-MA), Rep. Alexandria Ocasio-Cortez (D-NY), Rep. Jennifer Wexton (D-VA), Rep. Stephen Lynch (D-MA), Rep. Tulsi Gabbard (D-HI), Rep. Alma Adams (D-NC), Rep. Madeleine Dean (D-PA), Rep. Jesús “Chuy” García (D-IL), and Rep. Sylvia Garcia (D-TX).
To view the legislation text, click here.
Chairwoman Waters has consistently worked to defend the Consumer Bureau and ensure the agency is upholding its mission.
In December, she put Mick Mulvaney on notice with a letter informing him that she expects his full and complete cooperation with the Committee’s oversight of the Consumer Financial Protection Bureau’s actions during his tenure at the agency, and that he may be called before the Committee to testify on the matter.
In February, Chairwoman Waters and Congressman Al Green, Chairman of the Subcommittee on Oversight and Investigations, wrote to Consumer Financial Protection Bureau Director Kathy Kraninger to request documents relating to recent settlements that do not require companies that have violated the law to provide redress to consumers who have been harmed.
Also in February, Chairwoman Waters sent a letter to the dedicated public servants of the Consumer Financial Protection Bureau to address the challenges they have faced since Mulvaney’s tenure began in 2017 and assure them that she will use the full range of the Committee’s oversight authorities to prevent any efforts to weaken the Consumer Bureau.