House committee advances consumer, investor protection bills

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The House Committee on Financial Services recently conducted a markup of eight bills legislators said would benefit consumers and investors disaster relief funding programs.

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“I am pleased to say several of the bills have bipartisan support,” Committee Chairwoman Maxine Waters (D-CA) said. “I am also proud to say that so far this Congress we have passed 38 bills out of this Committee and passed 24 bills off the House floor. These bills benefit consumers, investors, and small businesses and protect vulnerable families.”

Measures advanced by the Committee include the Student Borrower Credit Improvement Act, which is a bill aiding private student loan borrowers in removing conflicting information for certain defaulted or delinquent loans when they demonstrate a history of timely repayment. The Climate Risk Disclosure Act of 2019 requires companies to annually disclose information relating to the financial and business risks associated with climate change. The Outsourcing Accountability Act of 2019 requires public companies to annually disclose the number of employees employed in each state and foreign country, as well as the percentage change from the previous year. The PCAOB Whistleblower Protection Act of 2019 would establish a whistleblower program at the Public Company Accounting Oversight Board (PCAOB) similar to the whistleblower program at the Securities and Exchange Commission.

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