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Democrats in the House of Representatives voted on Wednesday against an amendment to a proposed bill that would prevent the Consumer Financial Protection Bureau (CFPB) from forcing credit reporting agencies to evaluate Americans based on political opinions or religious beliefs.
Without such an amendment, Republicans warn, the powerful CFPB would have the legal authority to make nearly any criteria mandatory for a private credit evaluation company to take into consideration, paving the way for a system in which the federal government has the power to assign numerical scores to individuals based on their loyalty to a certain political party, membership in civil society groups that the government approves or disapproves of, or other private behaviors.
The system, they say, would mirror the newly minted “social credit system” in place in China, which bans citizens from key social services like public transportation if they lose too many points behaving in a way the Communist Party disapproves of.
The CFPB, the brainchild of Senator Elizabeth Warren (D-MA), is an executive agency that does not answer to the presidency, making it unaccountable to anyone but its head. The constitutionality of giving an unelected body the power to impose its demands on private individuals and corporations has been the subject of extensive debate, and the unique power given to a bureau director triggered an aggressive fight for the seat after founding director Richard Cordray, chosen by President Barack Obama, resigned.
Republicans moved on Wednesday to amend the 1970 Fair Credit Reporting Act in light of the existence of the CFPB. The failed amendment would have prevented the Bureau from forcing private credit scoring companies to “make use of information related to political opinions, religious expression, or other expression protected by the First Amendment, whether obtained from a social media account of a consumer or other sources.”
originally posted by: mobiusmale
Democrats Kill Amendment Protecting Americans from Credit Discrimination Based on Politics.
Democrats in the House of Representatives voted on Wednesday against an amendment to a proposed bill that would prevent the Consumer Financial Protection Bureau (CFPB) from forcing credit reporting agencies to evaluate Americans based on political opinions or religious beliefs.
Democrats in the House of Representatives voted on Wednesday against...forcing credit reporting agencies to evaluate Americans based on political opinions or religious beliefs.
originally posted by: AugustusMasonicus
Your thread title says this:
originally posted by: mobiusmale
Democrats Kill Amendment Protecting Americans from Credit Discrimination Based on Politics.
But your source says this:
Democrats in the House of Representatives voted on Wednesday against an amendment to a proposed bill that would prevent the Consumer Financial Protection Bureau (CFPB) from forcing credit reporting agencies to evaluate Americans based on political opinions or religious beliefs.
Voting AGAINST and amendment that would force credit reporting agencies to evaluate you based on politics is good, no? Maybe it's me but that article might be worded confusingly or inaccurately. If you take out the extraneous wording you are left with this:
Democrats in the House of Representatives voted on Wednesday against...forcing credit reporting agencies to evaluate Americans based on political opinions or religious beliefs.
originally posted by: vor78
Disgusting, but hardly surprising. The Democrats are well on their way to going full-on communist. They're about a half-step away from suggesting that we criminalize dissenting political views at this stage.
originally posted by: BlueJacket
AGAINST a bill that would PREVENT the CFPB from using social media.
So they are fine with it...no?
originally posted by: vor78
a reply to: AugustusMasonicus
His title is correct. Here is the proposed amendment:
republicanleader.house.gov...
MOTION TO RECOMMIT H.R. 3621
Ml. llllllll moves to recommit the bill
H.R. 3621 to the Committee on Financial Services with
instructions to report the same back to the House forthwith with the following amendment:
Page 161, line 2, strike ‘‘; and’’ and insert after
such line the following:
1 ‘‘(c) LIMITATION WITH RESPECT TO PROTECTED
2 EXPRESSIONS.—The Bureau may not require, as a condi3 tion for a credit scoring model to satisfy the standards
4 established under subsection (a) or as a condition for de5 termining a credit scoring model is appropriate under sub6 section (b), that a credit scoring model make use of infor7 mation related to political opinions, religious expression,
8 or other expression protected by the First Amendment,
9 whether obtained from a social media account of a con10 sumer or other sources.’’; and