WASHINGTON, D.C. – Today, Senator Andy Kim (D-NJ), member of the Committee on Banking, Housing, and Urban Affairs, helped Senate Democrats take over the floor to force 20 votes on reversing the Trump administration’s attacks on American consumers. Senator Kim individually filed two of the 20 Joint Resolutions of Disapproval of Trump Administration Consumer Financial Protection Bureau (CFPB) rules to protect Americans from unfair and illegal debt collection and defend their right to access and control their financial reports and futures.
These votes to make life more affordable for working families come after the Trump Administration’s year-long assault on the CFPB that has already cost American consumers $19 billion to date.
Senator Kim’s Joint Resolution of Disapproval to defend Americans’ right to access their own credit and background reports. WATCH
- Background: Trump’s CFPB rescinded a 2024 rule that made it easier for consumers to obtain a copy of their own credit and background reports, clearing the way for companies to put up roadblocks when consumers try to access their own personal data. Senator Kim introduced SJ Res 127 to restore the 2024 rule.
“We have a law already on the books – the Fair Credit Reporting Act – to protect this right but we’re seeing companies and others finding creative ways to skirt this responsibility, and working Americans are the ones left paying the price. That’s why we must pass this Joint Resolution of Disapproval I filed today and reassert this law’s authority… When these companies choose to cheat the system, they’re able to make a profit, while American consumers are left in the dark about their own credit,” said Senator Kim in remarks on the Senate Floor today.
Senator Kim’s Joint Resolution of Disapproval to protect Americans from being forced or threatened into paying debts they don’t legally owe. WATCH
- Background: Trump’s CFPB has rescinded 2023 guidance that cracked down on debt collectors who bring or threaten to bring legal action against consumers on time-barred or non-enforceable debts, or ‘zombie debts’, increasing the risk of consumers being forced or threatened into paying debts they don’t legally owe. Senator Kim introduced SJ Res 126 to undo the Trump CFPB decision and restore the earlier rule.
“I rise today because the American dream of owning a home is getting further and further out of reach and as working families get crushed by Trump’s economy – Congress needs to take steps to make life more affordable…The CFPB issued guidance that set out clear rules for how to rein in foreclosures on stale mortgage debts. The Trump administration withdrew this commonsense rule leaving these homeowners at-risk,” said Senator Kim in remarks on the Senate Floor today.
He continued: “With this vote, we can restore this guidance. We can protect homeowners from zombie debt. We can restore accountability and make sure debt collectors compensate consumers for the harm inflicted by their unfair, deceptive collection. And we can stand up for millions of Americans who need us to have their backs.”
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