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 Richard Blumenthal (D-CT) 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] [Page S2268] 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 ``LIMITED APPLICABILITY OF CONSUMER FINANCIAL PROTECTION ACT'S `TIME OR SPACE' EXCEPTION WITH RESPECT TO DIGITAL MARKETING PROVIDERS''--Motion to Proceed Mr. BLUMENTHAL. Mr. President, I move to proceed to Calendar No. 397, S.J. Res. 150. The PRESIDING OFFICER. The clerk will report. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 397, S.J. Res. 150, 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 ``Limited Applicability of Consumer Financial Protection Act's `Time or Space' Exception With Respect to Digital Marketing Providers''. Mr. BLUMENTHAL. Mr. President, in a remarkable gift to Big Tech, President Trump eliminated the digital marketing rule, which means they are not subject to the same kind of consumer protection laws or rules that apply to traditional advertisers and other kinds of interests. Banks, fintechs, and other financial institutions partner with Big Tech to use consumer data and targeted advertising tools to reach specific consumers online, including financially vulnerable individuals. This means unchecked exploitation, which creates opportunities for bad actors like scammers. This need for the rule is not just hypothetical or hyperbole. It is real. Big Tech has brought in billions of dollars from scams. According to internal documents, Meta projected it would earn roughly 10 percent of its total 2024 advertising revenue--that is approximately $16 billion from ads linked to scams, fraud, and prohibited productions--maybe not accidentally. Some of those Big Tech executives are on President Trump's plane to China. In response to that revelation, I, along with Senator Hawley, led a letter to FTC and the Securities and Exchange Commission to investigate Meta for enabling and profiting from these scams that harm consumers. President Trump has left consumers at the mercy of Big Tech, using social media to target and exploit consumers. It is clear that this kind of cozying up to Big Tech puts corporate interests above individual consumers, and I urge my colleagues to join my joint resolution of disapproval of the Trump administration's decision to rescind the digital marketing rule. 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 is rejected. The motion was rejected. The PRESIDING OFFICER. The Senator from New Jersey. ____________________

Referenced legislation: SJRES150, SJRES150

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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] [Page S2268] 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 ``LIMITED APPLICABILITY OF CONSUMER FINANCIAL PROTECTION ACT'S `TIME OR SPACE' EXCEPTION WITH RESPECT TO DIGITAL MARKETING PROVIDERS''--Motion to Proceed Mr. BLUMENTHAL. Mr. President, I move to proceed to Calendar No. 397, S.J. Res. 150. The PRESIDING OFFICER. The clerk will report. The senior assistant legislative clerk read as follows: Motion to proceed to Calendar No. 397, S.J. Res. 150, 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 ``Limited Applicability of Consumer Financial Protection Act's `Time or Space' Exception With Respect to Digital Marketing Providers''. Mr. BLUMENTHAL. Mr. President, in a remarkable gift to Big Tech, President Trump eliminated the digital marketing rule, which means they are not subject to the same kind of consumer protection laws or rules that apply to traditional advertisers and other kinds of interests. Banks, fintechs, and other financial institutions partner with Big Tech to use consumer data and targeted advertising tools to reach specific consumers online, including financially vulnerable individuals. This means unchecked exploitation, which creates opportunities for bad actors like scammers. This need for the rule is not just hypothetical or hyperbole. It is real. Big Tech has brought in billions of dollars from scams. According to internal documents, Meta projected it would earn roughly 10 percent of its total 2024 advertising revenue--that is approximately $16 billion from ads linked to scams, fraud, and prohibited productions--maybe not accidentally. Some of those Big Tech executives are on President Trump's plane to China. In response to that revelation, I, along with Senator Hawley, led a letter to FTC and the Securities and Exchange Commission to investigate Meta for enabling and profiting from these scams that harm consumers. President Trump has left consumers at the mercy of Big Tech, using social media to target and exploit consumers. It is clear that this kind of cozying up to Big Tech puts corporate interests above individual consumers, and I urge my colleagues to join my joint resolution of disapproval of the Trump administration's decision to rescind the digital marketing rule. 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 is rejected. The motion was rejected. The PRESIDING OFFICER. The Senator from New Jersey. ____________________ Referenced legislation: SJRES150, SJRES150