Consumer Protection
As a fierce consumer rights advocate, Sherman has long fought to protect consumers from all forms of abuse, fraud, and predatory practices.
Congressman Sherman was among the leaders behind the formation of the Consumer Financial Protection Bureau (CFPB), which protects consumers from financial institutions issuing credit cards and offering costly overdraft protection.
From 2019-2023, Sherman served as Chairman of the House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets where he worked to institute and maintain consumer safeguards.
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More on Consumer Protection
Washington, D.C. – Today, Congressman Brad Sherman (D-CA) and Congressman Lee Zeldin (R-NY), members of the House Financial Services Committee, introduced legislation that would permanently prohibit the use of guarantee fees or "g-fees" as a budget offset. The bipartisan Homebuyer Protection Act of 2019 would add a section to the Budget Act of 1974 permanently prohibiting the use of g-fees to offset unrelated spending.
Washington, DC – On Thursday July 11, the House Financial Services Committee passed by a unanimous vote, legislation led by Congressman Brad Sherman and Congressman Sean Duffy to make it easier for homebuyers to buy a home with a Federal Housing Administration (FHA) mortgage by addressing the current shortage of certified appraisers. H.R. 2852, the Homebuyer Assistance Act of 2019 would do this by reducing a number of hurdles that appraisers currently face before they are allowed to perform appraisals for home purchases financed by an FHA mortgage.
Mark Zuckerberg wants to prove he really cares about protecting privacy – by creating a platform perfectly positioned to provide privacy to drug dealers, tax evaders, and terrorists. Facebook still resists efforts to protect the privacy of average Americans from data mining and data sales. But now Facebook has announced a plan for a crypto currency platform which appears to meet the needs of drug dealers, human traffickers, tax evaders, and terrorists.
Zuckerberg's approach to privacy is not inconsistent:
Washington, DC – Today, Congressmen Brad Sherman (D-CA), David Kustoff (R-TN) and a bipartisan group of 41 House members sent a letter to Federal Reserve Chairman Jerome Powell, requesting that he provide answers on how the Fed might better protect homebuyers from the growing threat of real estate wire fraud.
Washington, DC – Congressman Brad Sherman, CPA and former head of the nation's second largest tax agency, today reintroduced the Tax Filing Simplification Act to ease the tax filing process for millions of American taxpayers and reduce their costs. Sherman's bill is a companion to legislation reintroduced today by Senator Elizabeth Warren (D-MA).
Washington, D.C. – Today, Congressman Sherman announced a 15 day extension for those affected by the Woolsey Fire to register for assistance from the Federal Emergency Management Agency (FEMA).
Residents of Los Angeles and Ventura Counties who suffered losses from the fire now have until February 15th to register with FEMA in order to be considered eligible for several disaster assistance programs. This extension also applies to low-interest disaster loans through the U.S. Small Business Administration (SBA).
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.
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.
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