Floor SpeechNeutral2026-05-13

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...

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On 2026-05-13, Senator Ruben Gallego (D-AZ) delivered a floor speech titled "PROVIDING FOR CONGRESSIONAL DISAPPROVAL UNDER CHAPTER 8 OF TITLE 5, UNITED STATES CODE, OF THE RULE SUBMITTED BY THE BUR" in the Senate.

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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...

Congressional Record, Volume 172 Issue 81 (Wednesday, May 13, 2026) [Congressional Record Volume 172, Number 81 (Wednesday, May 13, 2026)] [Senate] [Pages S2269-S2270] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] 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 ``CONSUMER FINANCIAL PROTECTION CIRCULAR 2024-02: DECEPTIVE MARKETING PRACTICES ABOUT THE SPEED OR COST OF SENDING A REMITTANCE TRANSFER''-- Motion to Proceed Mr. GALLEGO. Mr. President, I move to proceed to Calendar No. 387, S.J. Res. 131. The PRESIDING OFFICER. The clerk will report. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 387, S.J. Res. 131, 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 ``Consumer Financial Protection Circular 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer''. Mr. GALLEGO. Mr. President, imagine this: Your kid is studying abroad, and they call to tell you their laptop has been stolen; they can't do coursework--or, worse, that they were in an accident and ended up in the hospital. They need your help financially. So you send them an international money transfer. Your kid needs help very fast. So you use a company that promises it will get money to them in 24 hours. In reality, however, the transfer takes days. On top of that, you are hit with a hidden junk fee of 8 percent or more. That is a scenario the Trump administration has made a whole lot more likely. In 2024, the Consumer Financial Protection Bureau warned companies against deceptive remittance advertising like claiming that transfers will be delivered within a certain timeframe, even if that is not true, or claiming the transfers are free when, in fact, fees are charged. [[Page S2270]] The Trump administration withdrew this commonsense guidance, signaling to bad actors that they can engage in deceptive marketing about remittance transfers without fear of facing any real consequences from the current CFPB. My joint resolution of disapproval, which comes before the Senate today, would restore the previous guidance and make clear that we don't stand for companies that deceive and overcharge Americans. Right now, hard-working Americans are struggling just to get by. For those who use what little they have left over to help family and loved ones abroad, we shouldn't be making life any harder for them. Consumers deserve clear, honest pricing. That is why I have introduced the One Fair Price Act, to outlaw surveillance pricing, and the Junk Fee Prevention Act, with Senator Blumenthal, to crack down on deceptive, excessive, and hidden fees on everything from hotels to concert tickets. And that is why I introduced this resolution. I urge my colleagues to join me in supporting it. Vote on Motion to Proceed The PRESIDING OFFICER. The question is on agreeing to the motion. In the opinion of the Chair, the noes have it. The motion was rejected. The PRESIDING OFFICER. The Senator from Oregon. ____________________

Referenced legislation: SJRES131, SJRES131

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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... Congressional Record, Volume 172 Issue 81 (Wednesday, May 13, 2026) [Congressional Record Volume 172, Number 81 (Wednesday, May 13, 2026)] [Senate] [Pages S2269-S2270] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] 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 ``CONSUMER FINANCIAL PROTECTION CIRCULAR 2024-02: DECEPTIVE MARKETING PRACTICES ABOUT THE SPEED OR COST OF SENDING A REMITTANCE TRANSFER''-- Motion to Proceed Mr. GALLEGO. Mr. President, I move to proceed to Calendar No. 387, S.J. Res. 131. The PRESIDING OFFICER. The clerk will report. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 387, S.J. Res. 131, 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 ``Consumer Financial Protection Circular 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer''. Mr. GALLEGO. Mr. President, imagine this: Your kid is studying abroad, and they call to tell you their laptop has been stolen; they can't do coursework--or, worse, that they were in an accident and ended up in the hospital. They need your help financially. So you send them an international money transfer. Your kid needs help very fast. So you use a company that promises it will get money to them in 24 hours. In reality, however, the transfer takes days. On top of that, you are hit with a hidden junk fee of 8 percent or more. That is a scenario the Trump administration has made a whole lot more likely. In 2024, the Consumer Financial Protection Bureau warned companies against deceptive remittance advertising like claiming that transfers will be delivered within a certain timeframe, even if that is not true, or claiming the transfers are free when, in fact, fees are charged. [[Page S2270]] The Trump administration withdrew this commonsense guidance, signaling to bad actors that they can engage in deceptive marketing about remittance transfers without fear of facing any real consequences from the current CFPB. My joint resolution of disapproval, which comes before the Senate today, would restore the previous guidance and make clear that we don't stand for companies that deceive and overcharge Americans. Right now, hard-working Americans are struggling just to get by. For those who use what little they have left over to help family and loved ones abroad, we shouldn't be making life any harder for them. Consumers deserve clear, honest pricing. That is why I have introduced the One Fair Price Act, to outlaw surveillance pricing, and the Junk Fee Prevention Act, with Senator Blumenthal, to crack down on deceptive, excessive, and hidden fees on everything from hotels to concert tickets. And that is why I introduced this resolution. I urge my colleagues to join me in supporting it. Vote on Motion to Proceed The PRESIDING OFFICER. The question is on agreeing to the motion. In the opinion of the Chair, the noes have it. The motion was rejected. The PRESIDING OFFICER. The Senator from Oregon. ____________________ Referenced legislation: SJRES131, SJRES131