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WASHINGTON – The Senate voted today to begin consideration to undo an overstep by the Consumer Financial Protection Bureau (CFPB) to regulate car loans issued at auto dealerships. The measure, formally known as a resolution of disapproval (S.J. Res. 57) under the Congressional Review Act (CRA), is being offered by U.S. Senators Jerry Moran (R-Kan.) and Pat Toomey (R-Pa.). At issue is a 2013 guidance document on “indirect auto loans” issued by the CFPB. An indirect loan is financing offered to a consumer through an automobile dealer, instead of directly from a consumer’s bank or credit union.
In the 2010 Dodd-Frank financial reform law creating the CFPB, Congress specifically prohibited the new agency from regulating auto dealers. However, in 2013 the CFPB found a way around the ban. Without going through the customary rulemaking and public input processes, the CFPB published a “bulletin” which threatens auto dealers’ ability to negotiate the terms of these loans with their customers and has been used to sanction auto financing companies.
“An ill-advised Obama-era auto-lending rule issued by the CFPB missed the mark on both process and substance,” said Senator Moran. “This resolution of disapproval provides Congress the opportunity to reverse this overreaching rule to return a sense of stability to the auto marketplace, ultimately providing a path to lower costs for all car purchasers. I encourage my colleagues on both sides of the aisle to support this resolution.”
At the request of Senator Toomey, the Government Accountability Office (GAO) last year reviewed the CFPB’s guidance and concluded that it qualified as a rule under the CRA, thereby making the bulletin eligible to be rolled back by simple majority vote in Congress. To ensure agencies adhere to congressional intent, the CRA requires any rule to be transmitted to Congress for review. The CFPB never satisfied this statutory requirement despite the significant ramifications of a back-door regulation aimed at auto dealers.
“The CFPB, under Richard Cordray, frequently overstepped its authority while snubbing Congress and the public in the process. This auto lending guidance is an example,” said Senator Toomey. “I appreciate the GAO’s decision in this matter and encourage my colleagues to support this CRA resolution.”
In 2015, similar legislation to S.J.Res.57 that would have repealed the guidance was overwhelmingly approved by the U.S. House of Representatives, with 88 Democrats supporting passage.
“S.J.Res. 57 continues the bipartisan effort that began years ago to preserve the ability of local dealerships to offer discounted auto loans to their customers, and we thank Senator Toomey and Senator Moran for their leadership on this issue,” said Peter Welch, President and CEO of the National Automobile Dealers Association (NADA). “America’s franchised auto dealers strongly believe that every customer deserves to be treated fairly, and that there is no room for discrimination of any kind in auto retailing -- period. This is a narrowly tailored resolution that in no way modifies or affects the enforcement of any fair credit laws or regulations. But it does take the important step of ensuring that consumer discounts in auto lending are safeguarded for every consumer.”
In no way does the CRA resolution impact or amend the Equal Credit Opportunity Act. Companion legislation to S.J. Res. 57 also exists in the House (H.J. Res. 132).
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WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) issued the following statement regarding the passing of Former First Lady Barbara Bush:
“Barbara Bush was a kind and gracious person who had the ability to make her views known and respected. She was a First Lady who made immense contributions to our nation and made Americans proud. May she rest in peace.”
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WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) today applauded the president’s nomination of Ms. Michelle Bowman to serve as a member of the Board of Governors of the Federal Reserve System.
“Michelle Bowman has distinguished herself as an important leader in the Kansas banking community, and I am pleased that the president nominated her to serve on the Federal Reserve Board of Governors in Washington, D.C.,” said Sen. Moran. “I know that Miki, with her experience as Kansas’s State Bank Commissioner coupled with her roots in small-town Kansas, will bring a unique and important perspective to the board. As a member of the Senate Banking, Housing and Urban Affairs committee that will formally consider her nomination, I look forward to Miki’s confirmation and the needed perspective she will bring to the Federal Reserve.”
If confirmed by the Senate, Bowman – a Washburn University School of Law graduate – will join the Board of Governors of the Federal Reserve System as the Community Bank Representative and will represent Region 8 for the remainder of a 14-year term expiring January 31, 2020.
Announcement from the White House:
President Donald J. Trump Announces Intent to Nominate Personnel to Key Administration Posts
President Donald J. Trump today announced his intent to nominate the following individuals to key positions in his Administration:
Michelle Bowman of Kansas, to be a Member of the Board of Governors of the Federal Reserve System as the Community Bank Representative representing Region 8 (St. Louis, Missouri) for the remainder of a fourteen year term expiring January 31, 2020. Ms. Bowman currently serves as the Kansas State Bank Commissioner, a position to which she was the first woman appointed and confirmed by the Kansas State Senate. As Commissioner, she is the chief regulator for State-chartered banks and non-depository lenders. Previously, Ms. Bowman served as an executive at Farmers and Drovers bank. Additionally, she has served on the staff of Senator Bob Dole, as counsel for several U.S. House committees, as Director of Congressional and Intergovernmental Affairs at the Federal Emergency Management Agency, and as Deputy Assistant Secretary and Policy Advisor to Secretary Tom Ridge at the Department of Homeland Security. Ms. Bowman graduated from the University of Kansas and received a J.D. from Washburn University School of Law.
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Sens. Moran, Blumenthal Convene Subcommittee Hearing To Discuss Role of NGBs in Protecting Our Athletes
Apr 16 2018
WASHINGTON – U.S. Senators Jerry Moran (R-Kan.) and Richard Blumenthal (D-Conn.), chairman and ranking member of the Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security, will convene a hearing on Wednesday, April 18, 2018 at 2:30 p.m. entitled, “Olympic Abuse: The Role of National Governing Bodies in Protecting Our Athletes.”
“As part of the subcommittee’s ongoing investigation, we have invited athletes representing multiple sports to testify at our first hearing,” said Sen. Moran. “We appreciate the willingness of these athletes – who share in our determination to root out abuse in youth sport governing bodies – to share their stories and aid in our investigation to protect all USOC athletes, at all levels, in all sports.”
“This week’s hearing is a critical step forward in our investigation into the serious systemic abuses across generations of young athletes,” said Sen. Blumenthal. “Former gymnasts and their families sat down with me and Chairman Moran to share their deeply personal stories, further underscoring the urgency of rooting out appalling abuse in amateur sports. I continue to be in awe of the incredible bravery of the athletes who have spoken out to help advance this investigation – and to ensure no athlete has to suffer again.”
This hearing will provide a forum for survivors of abuse to share their stories and discuss specific concerns and challenges in preventing abuse within their respective sports.
Witnesses:
- Ms. Jordyn Wieber, Gymnast and Olympic Gold Medalist (London, 2012)
- Ms. Jamie Dantzscher, Gymnast and Olympic Bronze Medalist (Sydney, 2000)
- Ms. Bridie Farrell, Speedskater and 2014 Olympic hopeful
- Mr. Craig Maurizi, Figureskater
Hearing Details:
Wednesday, April 18, 2018
2:30 p.m.
Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security
This hearing will take place in Russell Senate Office Building, Room 253. Witness testimony, opening statements, and a live video of the hearing will be available on www.commerce.senate.gov.
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WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) – chairman of the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security – today released the following statement after the Federal Trade Commission (FTC) revised its settlement with Uber Technologies, Inc. in relation to Uber’s 2016 data breach:
“Following the inquiries and oversight conducted by our subcommittee, I am pleased to see the FTC taking seriously its enforcement responsibilities related to data security and breach notification. The new provisions of this settlement will require Uber to disclose any future incidents to the FTC by imposing civil penalties – setting a firm precedent that misconduct or omission of information in relation to the reporting of consumer data will not be tolerated. I commend the FTC for bolstering its oversight in an effort to protect consumers’ sensitive information and call on the agency to continue enforcing privacy rights to the fullest extent of the law. I also look forward to the White House’s FTC nominees receiving timely consideration on the Senate floor so the FTC will be able to operate at its fullest capacity.”
Items to Note:
- In February 2018, Sen. Moran’s Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security convened a hearing entitled, “Data Security and Bug Bounty Programs: Lessons Learned from the Uber Breach and Security Researchers.” Video from the hearing is accessible here.
- In September 2017, Sen. Moran sent a letter to Uber CEO Dara Khosrowshahi requesting information related to reports of a data breach, which Uber failed to disclose promptly, involving the personal information of 57 million customers including names, email addresses and mobile phone numbers.
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Sen. Moran Applauds Confirmation of John Broomes to be Federal District Court Judge for Kansas
Apr 12 2018
WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) today spoke on the Senate floor after the confirmation of Mr. John W. Broomes of Wichita to serve as a District Judge on the U.S. District Court for the District of Kansas.
“John Broomes is a highly-qualified and well-respected attorney who has the mentality, intellect and legal mind required for those who receive a lifetime appointment to the federal bench,” said Sen. Moran. “Outside of the courtroom, Mr. Broomes has served our nation as a Lieutenant in the United States Navy Submarine Force, where he earned the Navy and Marine Corps Commendation Medal and three Navy and Marine Corps Achievement Medals – further exemplifying his dedication to his fellow Kansans and Americans. Judges with lifetime appointments must exhibit sound principles in order to best serve Kansas and the country, and John Broomes certainly meets these requirements.”
Mr. Broomes will serve as a District Judge on the U.S. District Court for the District of Kansas. He earned his J.D. at Washburn University School of Law, where he graduated first in his class.
Click here to watch Sen. Moran’s full floor remarks.
Items to Note:
- Sen. Moran introduced Mr. Broomes last November at his Senate Judiciary Committee nomination hearing.
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WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) today released the following statement after discussing the United States’ strategy during an Agriculture and Trade Roundtable at the White House with President Trump:
“Today I stressed to the president the importance of trade to our agricultural communities in rural America, and I shared input I’ve received from Kansas farmers and ranchers about how access to global markets is tied to their livelihood. I reiterated we ought to strengthen and expand our trade markets rather than retreat from international trade agreements – we need more trade, not less, to keep Kansas farms alive.
“I also shared with the president a photo I took in Kensington of a pile of grain that has grown so tall you can barely see the elevator behind it. With more than 20 million people facing famine worldwide, it is disturbing to me that these piles of grain remain idle on the ground in Kansas, when they could be exported around the world to feed those in need – benefitting the hungry and Kansas’ economy. Our trade relationships are, now more than ever, vital to the future of our nation’s farmers and ranchers and I will continue advocating for sound policies to help them get the food they grow to tables around the world.”
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WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) was today selected to serve as chairman of the Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies. This selection adds to Sen. Moran’s commitment to economic competitiveness and job growth in Kansas as the senator also serves as the chairman of the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security.
“I take seriously my role of being a responsible steward of taxpayer dollars and this chairmanship provides an opportunity to prioritize funding for key investments in our nation’s infrastructure, public safety, aerospace initiatives, the National Science Foundation, NASA and a number of additional programs important to Kansans,” said Sen. Moran. “I look forward to conducting oversight over programs that impact our economic development efforts nationwide and advocating for policies that strengthen Kansas’ economy by providing a level playing field in the global market for Kansas agriculture producers.”
“I will continue to serve as a member of the Subcommittee for Military Construction, Veterans Affairs and Related Agencies and am proud of the work the committee has achieved for our servicemembers and our veterans in the 115th Congress,” continued Sen. Moran. “Providing for members of our armed forces and making certain our veterans have access to the quality, timely care they have earned have long been top priorities for me. I will continue my work to invest in the quality of life for our military families, advocate for improvements at the VA and address Department of Defense investments in infrastructure in order to keep Kansans and Americans safe.”
“Senator Moran has always been a strong advocate for America’s aerospace and defense industry,” said Aerospace Industries Association President and CEO Eric Fanning. “His leadership as Co-Chair of the Senate Aerospace Caucus has focused on prioritizing innovation and growth, and I’m confident he’ll continue that mission as Chairman of the Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies.”
“Senator Moran has been a consistent champion of entrepreneurship and innovation—we know that small and startup businesses will be well-represented as he assumes this new role,” said President and CEO of the Enterprise Center in Johnson County George Hansen. “The Senator’s advocacy for the expansion of programs that serve growing businesses and create jobs in Kansas, like the EDA’s Regional Innovation Strategies Program, has proven invaluable. We look forward to continuing our efforts to advance American entrepreneurship together.”
“We are pleased with the announcement that Sen. Moran will chair the Commerce, Justice and Science Appropriations Subcommittee,” said Kansas Farm Bureau President Rich Felts. “We value his strong voice for agriculture regarding the importance of trade to Kansas farmers and ranchers and know he will continue to fight for rural Kansas.”
In his previous role as chairman of the Senate Appropriations Subcommittee on Military Construction and Veterans Affairs, Sen. Moran prioritized investments in programs and policies vital to the United States Armed Forces and veterans across the nation and specifically in Kansas, including $17.5 million for a Combat Arms Facility on McConnell AFB and $19 million for Enlisted Barracks on Ft. Leavenworth. Other priorities focused on the livelihood and well-being of our military members, their families and our nation’s veterans include:
- Improving access to care, opioid addiction treatments, veterans’ caregiver services and homeless veterans’ assistance;
- Expansion of the Clay Hunt Suicide Prevention pilot program and additional funds for the Veterans Crisis Line;
- Vital construction projects under the European Reassurance Initiative to thwart Russian aggression;
- Hiring critical healthcare positions, such as Chiropractors and Marriage and Family Therapists; and
- Additional resources for states operating veterans homes.
Sen. Moran will continue to serve as a member of the Senate Appropriations Subcommittees for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies; for Defense; for Military Construction, Veterans Affairs and Related Agencies; for Financial Services and General Government; and for Labor, Health and Human Services, and Related Agencies.
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