RSSHouse Democrats last month introduced a bill to strengthen the Consumer Financial Protection Bureau. Senate Republicans rejected the measures in a roll call vote as the midterm elections loom.
The bill was introduced by Maxine Waters, the top Democrat on the House Financial Services Committee, as the size and scope of the bureau has been significantly reduced under the Trump administration. Since February 2025, the bureau has rescinded dozens of policies under Acting Director Russell Vought. Democrats seized on the proposal to highlight Republican opposition.
“At a time when Americans are already being squeezed by high costs and financial uncertainty, the Trump Administration is working overtime to dismantle the CFPB, which Congress created to protect people from fraud, scams, junk fees, discrimination, and abusive financial practices,” Waters said.
Nearly two-dozen resolutions were included in the bill. Proposals included:
- An interpretive rule finding the Fair Credit Reporting Act preempts state laws and keeps state authority to regulate consumer reporting, including those with medical debt. The resolution was introduced by Waters.
- Also introduced by Waters, a bureau circular warning insufficient data security practices could be an unfair act or practice under the Consumer Financial Protection Act.
- Interpretive rules related to examining financial institutions for conduct that poses risks to active-duty servicemembers. The proposal was introduced by Vicente Gonzalez of Texas.
- An advisory opinion on allegedly deceptive or unfair medical debt under the Fair Debt Collection Practices Act. The proposal was introduced by Ayanna Pressley of Massachusetts.
- Introduced by Nydia Velazquez of New York, a circular stating institutions must not charge overdraft fees on one-time debit card and ATM transactions without customer opt in.
- Confidentiality agreements deemed overly broad can violate whistleblower protections. The proposal was introduced by Al Green of Texas.
- Introduced by Joyce Beatty of Ohio, a bulletin preventing perceived unlawful lending discrimination under the Equal Credit Opportunity Act.
- An advisory opinion confirming deed financing contracts are covered as credit under the Truth in Lending Act and Regulation Z. The proposal was introduced by Emanuel Cleaver of Missouri.
