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Comprehensive Debt Collection Improvement Act

Floor Speech

By: Tom Emmer
By: Tom Emmer
Date: May 13, 2021
Location: Washington, DC
Issues: Finance and Banking

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Mr. EMMER. Madam Speaker, I rise today in opposition to the Comprehensive Debt Collection Improvement Act, a partisan package of bills which threatens to limit access to credit and other financial products that Americans from all walks of life rely on.

Simply put, this legislation undermines the collections process, the very system that ensures that Americans can access credit in the first place.

Without a collections process, consumers' ability to obtain credit cards or other forms of credit would be restricted, and, in many cases, limited to a cash-only basis. If adopted, this bill will limit Americans' options and weaken our standard of living, a standard that every American deserves.

I urge my colleagues to oppose this misguided, partisan legislation and instead support policies that expand financial inclusion, strengthen our system of credit, and support businesses that fuel our economy.

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