Congresswoman Veronica Escobar Amendment to Ensure the CFPB Incorporates Financial Institutions Serving Military and Veterans Passes House of Representatives

May 22, 2019
Press Release

(Washington, D.C.) – Today, Congresswoman Veronica Escobar (TX-16) issued the following statement after the House of Representatives passed with bipartisan support her amendment to H.R. 1500, the Consumers First Act, a bill to restore and protect the supervisory and enforcement powers of the Consumer Financial Protection Bureau (CFPB) and return the nonpartisan agency to its essential role of protecting consumers in the financial marketplace.

Congresswoman Escobar’s amendment directs the CFPB to appoint representatives of military- and veteran-serving financial institutions to its advisory committees.

“I’d like to thank Congresswoman Maxine Waters for her work and leadership in bringing legislation forward to restore trust in federal consumer protections, and ensure these protections extend to all, including our nation’s service members and veterans,” said Congresswoman Escobar. “Our service members, veterans and the financial institutions they trust deserve to have a seat at the table and assist with the Bureau’s effort to protect everyone as they move through financial systems. I’m glad to see my amendment pass with bipartisan support to make this a reality.”

View Congresswoman Escobar’s floor remarks in support of the amendment here.