H.R. 1195: Bureau of Consumer Financial Protection Advisory Boards Act of 2015

By SBE Council at 13 April, 2015, 2:25 pm

UPDATE: On April 22, 2015 the U.S. House passed H.R. 1195 by a vote of 235-183. To see how your Representative voted on the bill, please click here.

The Honorable Robert Pittenger

224 Cannon Building

Washington, DC 20515

Dear Representative Pittenger:

The Small Business & Entrepreneurship Council (SBE Council) is pleased to support H.R. 1195, the “Bureau of Consumer Financial Protection Advisory Boards Act of 2015.”

As a member of the Committee on Financial Services, you fully understand that Consumer Financial Protection Bureau (CFPB) accountability is sorely lacking. Without the Committee’s oversight and due diligence, the CFPB would operate in the dark and taxpayers would have very little knowledge and understanding of its operation.

Access to capital remains a critical issue for entrepreneurs and growth-oriented small businesses, and CFPB’s policies and initiatives can dramatically impact such access. In addition small, innovative firms in the financial services sector can be hurt and competitively disadvantaged by intrusive CFPB rulemakings and therefore entrepreneurs need to know about and constructively engage with the bureau.

Your bill creates a voice for small business at the CFPB. A voice the CFPB must listen to and consider to ensure a healthy environment for risk-taking and successful entrepreneurship.

Thank you for your leadership on this important issue, and we look forward to working with your office to advance H.R. 1195 into law.

Sincerely,

Karen Kerrigan, President & CEO