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This section captures a floor statement or debate entry. It mentions legislation such as Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Statement of Policy Regarding Prohibition on Abusive Acts or Practices"., members such as Richard Joseph Durbin.
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May 13, 2026
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Download official Senate Record PDFReturn to issue contextPROVIDING FOR CONGRESSIONAL DISAPPROVAL UNDER CHAPTER 8 OF TITLE 5,
FINANCIAL PROTECTION RELATING TO THE WITHDRAWAL OF THE RULE RELATING TO
“STATEMENT OF POLICY REGARDING PROHIBITION ON ABUSIVE ACTS OR
PRACTICES”—Motion to Proceed
Mr. DURBIN. Mr. President, I move to proceed to Calendar No. 395, S.J. Res. 147.
The PRESIDING OFFICER. The clerk will report the motion.
The senior assistant legislative clerk read as follows:
Motion to proceed to Calendar No. 395, S.J. Res. 147, a
joint resolution providing for congressional disapproval
under chapter 8 of title 5, United States Code, of the rule
submitted by the Bureau of Consumer Financial Protection
relating to the withdrawal of the rule relating to
“Statement of Policy Regarding Prohibition on Abusive Acts
or Practices”.
Mr. DURBIN. Mr. President, I was proud in 2008 during the financial crisis facing this country to join a majority of Senators in creating the Consumer Financial Protection Bureau. This Bureau has been a watchdog for consumers ever since.
crisis which centered on mortgage lenders profiting on loans doomed to fail. Millions of Americans lost their homes. The unemployment rate was 10 percent.
to address consumer protection failures and to ban abusive financial conduct to ensure fair dealing and protect consumers.
legal definition the abusive conduct and provided summaries and explanations as how to analyze the abusers. For example, the CFPB explained that abusive practices include obscuring or withholding information on mortgages in a
thing for credit card agreements, same thing for financial contracts and for student loans. The guidance warned bad actors about engaging in these practices and deterring abusive conduct, making it easier to bring enforcement actions when it occurs. The Trump administration withdrew this guidance and protection, and this JRD seeks to restore it.
struggling with their expenses today to vote yes and those who want to approve of low-rent, bottom-feeder, sleazy conduct by cheaters to vote no.
Vote on Motion to Proceed
The PRESIDING OFFICER. The question is on agreeing to the motion to proceed.
In the opinion of the Chair, the noes have it.
The motion was rejected.
The PRESIDING OFFICER. The Senator from Vermont.