CONGRESS FOR VOTERS

Elizabeth Warren (D-MA)

Protecting American Consumers Act

S. 4684 · Senate bill Finance and Financial Sector

A Democratic bill with 16 Democratic cosponsors · See all 16 cosponsors

Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is known as the Protecting American Consumers Act. It changes how the Bureau of Consumer Financial Protection gets its money. Specifically, the bill amends the Consumer Financial Protection Act of 2010. It sets a mandatory funding floor for the Bureau. Under this new rule, the amount transferred to the Bureau each fiscal year cannot be less than 12 percent of the total operating expenses of the Federal Reserve System from its 2009 Annual Report.

Yes· 3 of 9

  • Scored +6

    Does this give people more protection from unfair business practices?

    The bill establishes a mandatory funding floor for the Bureau of Consumer Financial Protection, ensuring sustained resources for consumer protection oversight.

  • Scored +4

    Would households on low incomes be better off under this?

    Low-income households benefit significantly from financial protection services guarding against predatory lending.

  • Scored +3

    Would people in their twenties and thirties be better off under this?

    Young adults benefit from strengthened consumer financial protection oversight regarding credit and loans.

The opposite

No question was scored the opposite.