|
Committee Staff Report: CFPB Leaves Consumers High and Dry
On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, released a Majority staff report entitled, “Settling for Nothing: How Kraninger’s CFPB Leaves Consumers High and Dry.”
The investigative report presented evidence of the Trump Administration’s politicization of the Consumer Bureau which has led to a decline in the agency’s redress for harmed consumers.
To view the full report, click here.
On Wednesday, Committee Democrats also had the opportunity to press Director Kraninger on the numerous failures of the Consumer Bureau at a hearing entitled, “Who Is Standing Up for Consumers? A Semi-Annual Review of the Consumer Financial Protection Bureau.”
See the Chairwoman’s exchange with Director Kraninger regarding the findings of the investigation below.
As Seen on FSC-TV
In case you missed it, see below for a snippet of the infographics displayed in the hearing room this week.
October 18: Subcommittee on Investor Protection, Entrepreneurship and Capital Markets hearing on the impact of stock buybacks.
October 18: Subcommittee on Diversity and Inclusion hearing on the need for diversity practices in America’s changing workforce.
October 19: Taskforce on Artificial Intelligence hearing on the evolution of cloud computing.
|
|
Member Spotlight
Congresswoman Cindy Axne (D-IA)
“By a 226-to-184 margin, the Outsourcing Accountability Act of 2019 passed the House Friday morning. The bill was introduced by Axne in response to Wells Fargo -- which is headquarted in Des Moines -- laying off nearly 400 workers to outsource their positions.” - KMA Broadcasting on the House passage of Congresswoman Axne’s legislation on Friday.
Tweet of the Week
 
Weekend Reads
Chairwoman's Corner
Reauthorizing TRIA: On Thursday, at a press conference to discuss the reauthorization of the Terrorism Risk Insurance Act (TRIA), Chairwoman Waters announced plans for a clean, long-term, bipartisan reauthorization.
Following the press conference, the Subcommittee on Housing, Community Development, and Insurance, chaired by Congressman Wm Lacy Clay (D-MO), and the Subcommittee on National Security, International Development, and Monetary Policy, chaired by Congressman Emanuel Cleaver (D-MO), convened a joint Subcommittee hearing entitled, “Protecting America: The Reauthorization of the Terrorism Risk Insurance Program.”
|
