Today on the Hill: Democrats Take Aim at CFPB Policies

May 22, 2019

House Democrats are set to make an attempt at rolling back “anti-consumer actions” at the Consumer Financial Protection Bureau (CFPB). Introduced by Financial Services Chairwoman Maxine Waters (D-CA), the measure (H.R. 1500) would seek to reverse policies implemented by former CFPB Acting Director Mick Mulvaney by: (1) requiring that the Bureau’s consumer complaint data be made publicly available; (2) reinstituting a memorandum of understanding between the CFPB and Department of Education that promotes data sharing between the two agencies; (3) re-establishing the Office of Students and Young Consumers; and (4) restoring the enforcement powers of the Office of Fair Lending and Equal Opportunity. Following consideration of 17 amendments to the underlying bill, the Consumers First Act bill is expected to pass on party lines and is considered dead on arrival in the Senate.

Meanwhile, Majority Leader Mitch McConnell (R-KY) has queued up votes on four presidential nominations for today. Senators will vote on the nominations of Howard Nielson, Stephen Cark, Carl Nichols, and Kenneth Bell to be U.S. District Judges.