Congressman Brad Sherman

Representing the 30th District of CALIFORNIA

Consumer Protection

  

For specific inquiries concerning my work and views on Consumer Protection issues, please contact me.

I look forward to hearing from you.

Thank you.


Current Consumer Protection Legislation

  • H.R. 1414 - Justice for Victims of Fraud Act of 2017 (PDF)
     



Social Media Postings

 

More on Consumer Protection

Jul 10, 2017

Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) announced that financial institutions, such as Wells Fargo, will no longer be allowed to force consumers to use arbitration to settle group disputes.  Currently, banks and credit card companies insert arbitration clauses in their contracts to prevent customers from filing class-action lawsuits in the case of wrongdoing.  This practice often discourages consumers from filing lawsuits because of the necessary expense of time, money, and effort.

Apr 5, 2017

Washington, D.C. – Today, Congressman Brad Sherman, a senior member of the Financial Services Committee, joined Senator Tom Cotton (R-AR) and Congressman Ed Royce (R-CA) in introducing legislation to increase transparency for homeowners who take out loans to make environmentally-focused home improvements.

Dec 2, 2016

Legislation Allows Cheated Customers Their Day in Court 

Sherman Oaks, CA – Today, Congressman Brad Sherman (D- Sherman Oaks) and Senator Sherrod Brown (D-Ohio) introduced the Justice for Victims of Fraud Act of 2016. The bill will close a Wells Fargo forced arbitration loophole by preventing Wells Fargo from applying its mandatory arbitration clauses to the millions of fake accounts created without customer consent.

Oct 12, 2016

Sherman Oaks, CA – Congressman Sherman, Senior Democrat on the Financial Services Committee issued the following statement.

"Stumpf resigning is not enough. It was not just the mistakes of one person that caused massive fraud at Wells Fargo. The big banks in this country are too big to fail, and they are also too big to manage. It’s time to break up the big banks in this country. It’s time to pass the Sanders-Sherman bill.”  

May 18, 2016

Porter Ranch, CA – Yesterday, the Southern California Gas Company (SoCalGas) defied a directive from the L.A. County Department of Public Health by announcing that SoCalGas will not clean homes of residents affected by the natural gas leak in Porter Ranch.

Congressman Sherman, whose home is as close as any to the Porter Ranch leak, took to the floor of the House to condemn the actions of SoCalGas. Watch Here: https://youtu.be/DfT29y1zz1U

Jan 7, 2015

October 3, 2013

International Accounting Standards Board
First Floor
30 Cannon St.
London EC4M 6XH
United Kingdom

Financial Accounting Standards Board
File Reference No. 1850-100
401 Merritt 7
PO Box 5116
Norwalk, CT 06856-5116

Re: Comments on Proposed Accounting Standards Revision (Leases, Topic 842)
    FASB File Reference No. 2013-270

Dear Board Members and Staff, 

May 7, 2014

Embattled Clippers owner Donald Sterling may be able to write off his critics, but if two state lawmakers have their way, he won't have the same option with the $2.5-million fine imposed on him by the NBA.

Two state Assembly members from Los Angeles filed legislation Tuesday that would prevent sports team owners from writing off league fines as a business expense when they file their state income tax returns.

Apr 22, 2014

Sherman Announces How Los Angeles Residents Can Find Out If They Have Unclaimed Tax Refunds. LA County Has $60 Million in Undelivered & Unclaimed Returns. Plus Tips to Avoid to Tax Scams & Fraud

Apr 15, 2014



LA County Has $60 Million in Undelivered & Unclaimed Returns
Plus Tips to Avoid to Tax Scams & Fraud

Apr 9, 2013

 WASHINGTON, DC – Today Congressman Brad Sherman (D-CA) and Senator Bernie Sanders (I-VT) reintroduced the “Too Big to Fail, Too Big to Exist Act,” in the House and Senate respectively. Under the legislation, any institution that is too big to fail will be broken up and reorganized to avoid more government bailouts and future risk to the economy.