Provision is added to Consumers First Act
WASHINGTON – Congressman Steve Cohen’s amendment providing free credit scores to consumers passed the House today and was made a part of the Consumers First Act. The bill provides sweeping consumer protections eroded by the Trump Administration. It passed on a vote of 231 to 191.
H.R. 1500, the Consumers First Act, reverses the anti-consumer agenda of the Consumer Financial Protection Bureau (CFPB) under Mick Mulvaney. The bill restores the supervisory and enforcement powers of the Office of Fair Lending and Equal Opportunity to prevent discrimination in lending; reestablishes a dedicated student loan office; and protects military personnel from predatory lending practices, among its many provisions.
Congressman Cohen made the following statement:
“I’m proud to have introduced the Fair Access to Credit Scores last week and pleased that it was made a part of the Consumers First Act that passed the House today. We are working for the people and against the Administration’s anti-consumer agenda.”
The Consumer Financial Protection Bureau was created by passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB has put nearly $12 billion back into the pockets of 30 million consumers and addressed more than 1.2 million complaints about financial institutions.