the Republican Cloakroom

WEDNESDAY MAY 22, 2019

SUMMARY OF LEGISLATIVE BUSINESS

Amendments to H.R. 1500:
Velázquez (D-NY) – Amendment No. 1 - Reinstitutes Home Mortgage Disclosure Act of 1975 reporting requirements and prevents further action by the CFPB without congressional approval - ADOPTED BY VOICE

Steil (R-WI) – Amendment No. 2 - Strikes the findings in the bill and inserts language requiring the Comptroller General to conduct a study of the effectiveness and efficiency of the Consumer Financial Protection Bureau (CFPB) in meeting its statutorily mandated obligations, the prevalence of discriminatory practices in lending, and the workplace rights of CFPB staff. - REJECTED 190 - 234, ROLL CALL 222
Republican YEA – 189; NAY – 1
Democrat YEA – 1; NAY – 233

Adams (D-NC) – Amendment No. 3 - Reestablishes an interagency memorandum of understanding between the CFPB and the Department of Education concerning the sharing of student borrower complaints to allow for cooperative supervision and oversight of student loan servicers. - ADOPTED BY VOICE
 
Lawson (D-FL), Brown (D-MD) – Amendment No. 4 - Adds a monthly reporting requirement that CFPB provide Congress with the number of investigations opened and closed relating to potential fair lending violations, how many fair lending enforcement actions taken or referred, analysis of consumer complaints relating to potential fair lending violations, and stats on how many Office of Fair Lending and Equal Opportunity staff are dedicated to supervision and enforcement - ADOPTED BY VOICE
 
Pressley (D-MA) – Amendment No. 5 - Requires the Director of the Consumer Financial Protection Bureau to issue a quarterly report on debt collection complaints and enforcement actions - ADOPTED BY VOICE
 
Burgess (R-TX) – Amendment No. 6 - Strikes the section requiring all consumer complaints to be made available to the public on a CFPB website - REJECTED 191 - 236, ROLL CALL 223
 Republican YEA – 191; NAY – 2
Democrat YEA – 0; NAY – 234

Burgess (R-TX), Burchett (R-TN) – Amendment No. 7 - Permanently subjects funding for the CFPB to Congressional appropriation and authorizes for FY2020 an amount equal to the aggregate amount of funds transferred by the Board of Governors to the CFPB during FY2019 - REJECTED 192 - 235, ROLL CALL 224
 Republican YEA – 192; NAY – 1
Democrat YEA – 0; NAY – 234

Cohen (D-TN) – Amendment No. 8 - Directs the Consumer Financial Protection Bureau (CFPB) to require consumer reporting agencies to disclose free credit scores, if requested. Also directs the CFPB to develop regulations establishing a mandatory consistent format and to determine if agencies should disclose any other consumer information appropriate with respect to consumer financial education - ADOPTED BY VOICE
 
Bonamici (D-OR), Rouda (D-CA) – Amendment No. 9 - Requires the Assistant Director and Student Loan Ombudsman to issue an annual report to Congress on risks to young consumers and student borrowers - ADOPTED BY VOICE
 
Case (D-HI) – Amendment No. 10 - Adds expertise in consumer privacy to the membership of the Consumer Advisory Board - ADOPTED BY VOICE
 
Golden (D-ME), Escobar (D-TX) – Amendment No. 11 - Adds representatives of service members, veterans, and their families to the list of individuals who qualify for appointment to the Consumer Advisory Board - ADOPTED BY VOICE
 
Escobar (D-TX), Golden (D-ME) – Amendment No. 12 - Directs CFPB to seek to appoint representatives of military- and veteran-serving financial institutions in Advisory Committees (excludes Consumer Advisory Board) - ADOPTED BY VOICE
 
Neguse (D-CO) – Amendment No. 13 - Requires the Director of the Consumer Financial Protection Bureau to issue an annual report to Congress of consumer complaints from older Americans, including a state-by-state breakdown of complaints by type of consumer financial product or service and any legislative or regulatory recommendations by the Director - ADOPTED BY VOICE
 
Stevens (D-MI) – Amendment No. 14 - Ensures that the Consumer Advisory Board is comprised of individuals who represent community banks, credit unions, small business owners, or economic growth experts - ADOPTED 418 - 10, ROLL CALL 225
 Republican YEA – 183; NAY – 10
Democrat YEA – 235; NAY – 0

DeSaulnier (D-CA) – Amendment No. 15 - Requires the Bureau to collect additional data from student loan servicers to provide a comprehensive view of loan portfolio performance, and to include findings from this information in the annual Ombudsman report - ADOPTED BY VOICE
 
Tlaib (D-MI) – Amendment No. 16 - Adds a quarterly reporting requirement that CFPB provide Congress with the number of investigations opened and closed relating to payday/car-title lenders, how many enforcement actions taken, an estimate of how much in fees payday/car-title customers paid, how many times in the previous 12 months a payday customer rolled over their loan, and how many car title loan borrowers lost their car in the previous 12 months - ADOPTED BY VOICE
 
Green, Al (D-TX) – Amendment No. 17 - Reinstates the Consumer Financial Protection Bureau's final rule governing forced arbitration, within 60 days of enactment - ADOPTED 235 - 193, ROLL CALL 226
Republican YEA – 1; NAY – 192
Democrat YEA – 234; NAY – 1

Republican Motion to Recommit on H.R. 1500 - REJECTED 191 - 231, ROLL CALL 227
Republican YEA – 0; NAY – 191
Democrat YEA – 231; NAY – 0

Passage of H.R. 1500 - Consumers First Act - PASSED 231 - 191, ROLL CALL 228
Republican YEA – 0; NAY – 191
Democrat YEA – 231; NAY – 0