The House yesterday passed the so-called Financial CHOICE Act. The bill threatens protections put in place for consumers dealing with banks, mortgage companies, credit card issuers, student loans and more. It weakens the financial regulatory agencies where NTEU-represented employees protect American investors and depositors and gives Wall Street more unchecked power.
NTEU opposes this legislation and is taking our fight to the Senate.
One of the main targets in the bill is the Consumer Financial Protection Bureau (CFPB). NTEU members there have helped return nearly $12 billion to consumers cheated by banks and other financial institutions. CFPB provides real help to everyday Americans.
H.R. 10 is a step back but NTEU is moving forward. The union will continue to work with supporters in the Senate to stop the bill, and we are urging members to get involved.
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