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 Catherine Cortez Masto (D-NV) 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 S2270-S2271] 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 2024-03: UNLAWFUL AND UNENFORCEABLE CONTRACT TERMS AND CONDITIONS''--Motion to Proceed Ms. CORTEZ MASTO. Mr. President, I move to proceed to Calendar No. 384, S.J. Res. 128. The PRESIDING OFFICER. The clerk will report the motion. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 384, S.J. Res. 128, 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 [[Page S2271]] Protection relating to the withdrawal of the rule relating to ``Consumer Financial Protection Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions''. Ms. CORTEZ MASTO. Mr. President, I am asking my colleagues to support S.J. Res. 128, which is my amendment to restore commonsense protection from the Consumer Financial Protection Bureau to stop companies from putting illegal terms in their contracts. Since it opened its doors in 2011, the Consumer Protection Bureau has returned over $21 billion to more than 200 million American consumers after finding that companies violated the law and took advantage of them. That is why we have the Consumer Bureau to go after those bad actors. When companies use the fine print in their contracts to work in illegal provisions that exploit hard-working Americans, the Consumer Bureau is empowered to prosecute them. But the restitution the Consumer Bureau has won for consumers is by nature a response. It comes after Americans have lost precious time and money or sometimes after they have signed away their rights. There needs to be more efforts to proactively discourage companies from abusing the fine print and taking advantage of consumers in the first place. That is what the Consumer Bureau did under the Biden administration. They issued guidance warning companies that creating contracts with unlawful or unenforceable terms is illegal. It doesn't get more common sense than that. No one should be coerced into signing away their rights, like the right to counsel or the right to pursue your claim in court, just to be able to open a bank account, open a credit card, or get a loan. These predatory practices are exactly what the Consumer Bureau was created to stop. Unfortunately, this administration has withdrawn this guidance. They are intentionally allowing bad actors to break the law and put illegal provisions in contracts that will hurt Americans. It is just wrong. That is why I am encouraging my colleagues to support S.J. Res. 128, to restore this protection against fine-print traps. Deception is not a business model, and Americans across the country are paying the price for the Trump administration's anti-consumer policies. I yield the floor. 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 Nevada. ____________________

Referenced legislation: SJRES128, SJRES128

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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 S2270-S2271] 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 2024-03: UNLAWFUL AND UNENFORCEABLE CONTRACT TERMS AND CONDITIONS''--Motion to Proceed Ms. CORTEZ MASTO. Mr. President, I move to proceed to Calendar No. 384, S.J. Res. 128. The PRESIDING OFFICER. The clerk will report the motion. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 384, S.J. Res. 128, 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 [[Page S2271]] Protection relating to the withdrawal of the rule relating to ``Consumer Financial Protection Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions''. Ms. CORTEZ MASTO. Mr. President, I am asking my colleagues to support S.J. Res. 128, which is my amendment to restore commonsense protection from the Consumer Financial Protection Bureau to stop companies from putting illegal terms in their contracts. Since it opened its doors in 2011, the Consumer Protection Bureau has returned over $21 billion to more than 200 million American consumers after finding that companies violated the law and took advantage of them. That is why we have the Consumer Bureau to go after those bad actors. When companies use the fine print in their contracts to work in illegal provisions that exploit hard-working Americans, the Consumer Bureau is empowered to prosecute them. But the restitution the Consumer Bureau has won for consumers is by nature a response. It comes after Americans have lost precious time and money or sometimes after they have signed away their rights. There needs to be more efforts to proactively discourage companies from abusing the fine print and taking advantage of consumers in the first place. That is what the Consumer Bureau did under the Biden administration. They issued guidance warning companies that creating contracts with unlawful or unenforceable terms is illegal. It doesn't get more common sense than that. No one should be coerced into signing away their rights, like the right to counsel or the right to pursue your claim in court, just to be able to open a bank account, open a credit card, or get a loan. These predatory practices are exactly what the Consumer Bureau was created to stop. Unfortunately, this administration has withdrawn this guidance. They are intentionally allowing bad actors to break the law and put illegal provisions in contracts that will hurt Americans. It is just wrong. That is why I am encouraging my colleagues to support S.J. Res. 128, to restore this protection against fine-print traps. Deception is not a business model, and Americans across the country are paying the price for the Trump administration's anti-consumer policies. I yield the floor. 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 Nevada. ____________________ Referenced legislation: SJRES128, SJRES128