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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

May 22, 2018 Press Release

WASHINGTON, DC [05/22/18] – Today Congresswoman Suzanne Bonamici, a leader on the House Education Committee, questioned Education Secretary Betsy DeVos during the Secretary’s first appearance in front of the Committee, 16 months after taking office.

May 16, 2018 Press Release
Representatives Suzanne Bonamici, Rob Bishop, Jared Polis, and Mia Love challenged the Department of Education to reconsider its decision to block states from regulating student loan companies.
May 9, 2018 Press Release
Congresswoman Suzanne Bonamici made the following statement after Acting Director Mick Mulvaney announced that the Consumer Financial Protection Bureau (CFPB) will be closing its Office for Students and Young Consumers.
April 26, 2018 Press Release
The House of Representatives approved a proposal by Congresswoman Suzanne Bonamici to improve consumer protections for airline passengers.
March 9, 2018 Press Release

WASHINGTON – Today Congresswomen Karen Bass (D-CA) and Suzanne Bonamici (D-OR) introduced a resolution to raise awareness about the barrage of fraud attempts that seniors face nationwide. The resolution encourages Congress to implement policies to prevent senior scams from happening and to improve protections from these scams. The resolution would also support the designation of May 15, 2018, as "National Senior Fraud Awareness Day".

March 9, 2018 Press Release
Congresswoman Suzanne Bonamici issued the following statement after the Department of Education announced its plans to block states from regulating student loan servicers and debt collectors
February 27, 2018 Press Release
Congresswoman Suzanne Bonamici issued the following statement after reports that the Department of Education is planning to block states from regulating student loan collection companies:
February 27, 2018 Press Release
Congresswoman Suzanne Bonamici introduced legislation to protect public health and ban asbestos.
February 13, 2018 Press Release
Oregon’s Senator Jeff Merkley, Congresswoman Suzanne Bonamici, and Congressman Elijah E. Cummings introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. The SAFE Lending Act would crack down on some of the worst abuses of the payday lending industry, particularly in online payday lending, and protect consumers from deceptive and predatory practices that strip wealth from working families.
February 13, 2018 In The News

WASHINGTON - Senator Jeff Merkley and Reps. Suzanne Bonamici and Elijah Cummings introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act Tuesday, aimed at cracking down on some of the worst abuses of the payday lending industry, particularly in online payday lending, and protect consumers from deceptive and predatory practices that strip wealth from working families.