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Coalition Efforts

Consumer Action is working on these important issues along with other organizations. If you would like to know more about these issues, please see "More Information" at the end of each article.


Keep the “consumer watchdog” independent of partisan politics
The House Appropriations Committee is reviewing a provision in the “Financial Services and General Government” appropriations bill that would bring funding for the Consumer Financial Protection Bureau (CFPB) under the annual congressional appropriations process, instead of continuing to fund the agency directly from the Federal Reserve. This means partisan politics stands to restrict the CFPB’s regulatory authority by holding its purse strings and requiring the agency submit unnecessary reporting.

Protecting borrowers, not banks, from risky loans
Coalition advocates wrote to Congress asking them to oppose H.R. 1210. The bill would change the new Qualified Mortgage rules in the Wall Street Reform and Consumer Protection Act’s Ability-to-Repay requirement. Lenders should make a good-faith effort to determine a borrower’s ability to repay a mortgage before extending them a loan. Instead, H.R. 1210 contains an unnecessary exemption that puts all the risk on the borrower and protects the lenders from legal responsibility.

ED can do more to prevent widespread fraud
In light of the recent bankruptcy of Corinthian Colleges, and its subsequent campus shutdowns, coalition advocates urge the Education Department to develop a proactive strategy that would prevent for-profit schools that are under investigation for predatory practices from receiving federal aid and further defrauding students.

Advocates oppose effort to suspend lender liability under new mortgage rules
Coalition advocates wrote to the House of Representatives asking them to oppose H.R. 2213. The bill suspends homebuyer rights by absolving lenders from accountability for five months after new mortgage disclosure rules take effect this summer, and lets lenders off the hook even when a homeowner has been harmed. This means that homeowners who receive misleading mortgage cost disclosures during that period would have no recourse. Moreover, the legislation sets a dangerous precedent by suspending liability where legal rules apply.

Lawmakers siding with predatory payday lenders over troops
Consumer Action and coalition advocates wrote to the House Committee on Rules asking members to oppose Amendment #268 of the FY2016 National Defense Authorization Act. The unnecessary database certification requirement will delay the Department of Defense’s regulatory efforts meant to make it more difficult for payday lenders to target troops with predatory offers. The amendment would put servicemembers at risk of financial harm in order to protect abusive lenders.

Help for Corinthian students who were misled
After Corinthian Colleges announced that it’s closing its twenty-eight campuses and filing for Chapter 11 bankruptcy, Consumer Action joined coalition advocates in asking the U.S. Department of Education to provide the students who were enrolled at the time with the information and resources they need to make an informed decision about transferring their credits or filing for a closed school discharge.

Operation Choke Point protects consumers from fraud
In letters addressed to the House and the Senate, Consumer Action joined coalition advocates in urging legislators to uphold the Department of Justice’s Operation Choke Point and to oppose any legislation that tries to restrict its authority. Choke Point is focused on regulating banks that help scammers and other illegal activity. Weakening the Operation would only make consumers more susceptible to data breaches, terrorism threats and internet fraud.

Time to improve an outdated education data collection system
Consumer Action joined PostsecData coalition advocates in answering Senator Lamar Alexander’s (R-TN) call for input on the Higher Education Act reauthorization with resounding support for a federal student unit record system. The coalition's recommendations would help Congress improve its current federal student data collection system by collecting the data metrics legislators and advocates need to improve postsecondary opportunities for students in their communities, shrink opportunity and achievement gaps and improve college financial aid programs.

Holding for-profit schools accountable
The purpose of new gainful employment rules that are taking effect later this year is to ensure for-profit schools demonstrate that their programs are actually training graduates to earn a living. However, the Supporting Academic Freedom through Regulatory Relief Act seeks to repeal gainful employment protections and provide for-profit institutions access to billions of dollars in taxpayer-funded student aid.

Another attempt to undermine the consumer watchdog
Republicans in Congress are at it again: threatening the power, autonomy and budget of the Consumer Financial Protection Bureau (CFPB) in favor of de-regulating banks and businesses (the same industries that were responsible for the Great Recession and the national economic meltdown). By passing H.R. 1195, Republican leadership attempts to reverse the agency’s power by making it more accountable to Congress than any other federal regulator.

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