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House GOP Passes Bill to Gut Financial Regulations and Consumer Protections

Monday, June 12, 2017
Coalition on Human Needs
Yana Miles

Yana Miles, senior legislative counsel for the Center for Responsible Lending, said, “The bill even specifically exempts payday and car title lenders — notorious for springing devastating debt traps for their already vulnerable customers — from any regulation.” The bill passed the House (233-186) with only Republican support; all Democrats and Republican Rep. Walter Jones (NC) voted no. It is not expected to be taken up in the Senate, where it would need 60 votes to pass but does not have any Democratic support.