Mobile Menu - OpenMobile Menu - Closed

Consumer Protection

As a consumer protection attorney at the Federal Trade Commission, I learned firsthand how strong consumer protection laws keep Americans financially secure and level the playing field for businesses. A thriving marketplace without deceptive practices is also essential to our economic recovery because it will help to restore consumer confidence. I have taken on predatory lending and other unscrupulous practices, and I have worked to prevent insurance companies from taking advantage of seniors.  Recently I introduced the SAFE (Stop Abuse and Fraud in Electronic) Lending Act, a companion bill to legislation Senator Merkley introduced in the Senate, to protect consumers from abusive online payday lending practices.
 
As a member of the Financial and Economic Literacy Caucus, I am working to promote more personal financial education. With more education and understanding about personal finance and economics, consumers will be more knowledgeable in the marketplace and less likely to fall victim to scams. 
 
 
The Dodd-Frank Act and the Consumer Financial Protection Bureau
 
The Dodd-Frank Wall Street Reform and Consumer Protection Act has started to address some of the Wall Street abuses that led to the financial crisis, but more can be done. We need to make sure that a strong Volcker Rule is implemented to prevent banks from making risky bets with taxpayer insured deposits. Rules like this once kept Wall Street accountable, and it can do so again. 
 
Some in Congress are determined to undermine Dodd-Frank, which placed important new requirements on the financial services industry to prevent another Great Recession. I am fighting back against efforts to weaken Dodd-Frank, and I will continue to stand strong for American consumers, borrowers, and homeowners.
 
Enforcement of our consumer protection laws by the Consumer Financial Protection Bureau (CFPB) is a critical component in restoring consumer confidence in our economy. I am a strong supporter of the CFPB and its mission, and have sought to ensure that it has funding to carry out its important tasks. As a member of the Budget Committee I offered an amendment to provide full funding to the CFPB, and I will continue to seek other opportunities to support this critical consumer watchdog. 

 

More on Consumer Protection

December 13, 2017 Press Release
Congresswoman Suzanne Bonamici, a leader on the Education and the Workforce Committee, stood up against efforts in that committee to roll back federal higher education policies that support low-income students. She also strongly opposed efforts to reduce accountability of unscrupulous for-profit institutions and to remove consumer protections for defrauded students who attended them.
November 2, 2017 Press Release
Representatives Suzanne Bonamici, Ted Deutch, and Charlie Crist introduced legislation that aims to improve the Older Americans Act (OAA) by better serving LGBT elders and increasing access to culturally competent services and support programs.
October 31, 2017 Press Release
Congresswoman Suzanne Bonamici, Vice Ranking Member of the House Education and the Workforce Committee, spoke out on behalf of students about reports that the Department of Education may require students who were cheated by for-profit colleges to pay back student loans.
October 25, 2017 Press Release
Congresswoman Suzanne Bonamici spoke out on behalf of students after the Department of Education further delayed the borrower defense rule, which protects student loan borrowers.
October 23, 2017 Press Release
Senator Elizabeth Warren and Congresswoman Suzanne Bonamici sent a letter to the Chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, urging the agency to open an investigation into potential insider trading of Navient stock.
October 23, 2017 In The News

The U.S. Securities and Exchange Commission should investigate possible insider trading of shares of student loan company Navient Corp., Senator Elizabeth Warren of Massachusetts and Representative Suzanne Bonamici of Oregon, said Monday in a letter to the agency chairman, Jay Clayton.

August 18, 2017 Press Release

BEAVERTON, OR [08/18/17] — Congresswoman Suzanne Bonamici (D-OR), Vice Ranking Member of the House Education and the Workforce Committee, spoke out on behalf of students after the Department of Education announced it would further delay requirements that colleges comply with a rule protecting student loan borrowers.
 

August 18, 2017 In The News

Congresswoman Suzanne Bonamici released a statement this morning that was critical of Education Secretary Betsy DeVos and the Department of Education's recent decision to further delay requirements that colleges comply with a rule protecting student loan borrowers.

August 18, 2017 In The News

Congresswoman Suzanne Bonamici (D-OR), Vice Ranking Member of the House Education and the Workforce Committee, spoke out on behalf of students after the Department of Education announced it would further delay requirements that colleges comply with a rule protecting student loan borrowers.

August 4, 2017 In The News

A bipartisan group of House and Senate lawmakers introduced legislation Thursday to address student loan defaults by steering delinquent and defaulted borrowers toward income-driven repayment programs and reducing other paperwork barriers to student loan relief.