MONEY TALKS AND PREDATORY LENDERS WALK
San Francisco, CA, June 8, 2017— Earlier today, the House of Representatives, on an almost party line vote,
passed House Resolution 10, the so-called “Financial Choice Act.” All 14 GOP representatives from California
voted for this bill. Paulina Gonzalez, executive director of the California Reinvestment Coalition, which had
organized against the bill, released this statement:
“Earlier today, California’s house Republicans joined with the president in his quest to relax rules on Wall Street
and banks like Wells Fargo. While this bill is considered dead on arrival at the US Senate, it’s shocking to see
that all of California’s House Republicans were willing to sell out their constituents and vote for this bill.
In contrast, we appreciate the leadership shown by Representative Maxine Waters and California’s House
Democrats who stood up for working families by voting against this disastrous bill.
Californians who lost their homes, who lost their jobs, and who bailed out the bank’s bad bets can’t understand
why their representatives would vote for a bill that calls for a return us to the Wild West of predatory mortgages
and big bank bailouts.”
CRC and 30 other California organizations sent a letter to the California congressional delegation earlier this
week, urging them to vote “no” on the Financial Choice Act.
More than 100,000 Californians have contacted the CFPB to submit complaints about financial service
companies since it opened, including over 14,000 seniors.
The CFPB has helped 29 million Americans, obtaining nearly $12 billion in relief for consumers harmed by
illegal practices by banks and other financial service companies.
The following California representatives voted for HR 10, the Financial Choice Act
1) Jeff Denham
2) David Valadao
3) Steve Knight:
4) Darrell Issa
5) Ed Royce
6) Dana Rohrabacher
7) Duncan Hunter
8) Kevin McCarthy
9) Devin Nunes
10) Doug LaMalfa
11) Ken Calvert
12) Mimi Walters
13) Paul Cook
14) Tom McClintock