Financial Services Committee Passes Bachmann Amendment to Keep ACORN from Financial Counseling on Taxpayer's Dime

Last week, the Financial Services Committee, on which I serve, completed mark-up on a bill to create the Consumer Financial Protection Agency (CFPA), an expansive new government bureaucracy with far-reaching powers to make decisions for consumers about the kinds of mortgages, small business loans, and other financial products they may access.  I was pleased that the Committee passed two amendments that I offered in an attempt to improve the bill.

The bill created a "Consumer Advisory Board" to advise the Director of the CFPA on certain consumer protection issues. My first amendment would prohibit individuals who have been employed by organizations indicted for federal or state election law violations from serving on the Consumer Advisory Board established by the bill and ban such organizations from participating in programs created by the Office of Fair Lending and Equal Opportunity. 

As I’ve mentioned in recent newsletters, ACORN has been making millions of dollars off of partnerships with banks for financial counseling.  But at the same time, ACORN has been making headlines for lax ethical standards.  It has been drawn into criminal investigations time and time again for voter registration fraud in more than a dozen states.  And, most recently, its employees in nearly half a dozen cities were caught on video tape giving financial and tax advice for setting up an underage prostitution ring.  This is not the sort of group that should be involved in this new financial counseling regime.

The Committee also passed my amendment to direct the Consumer Financial Protection Agency to promulgate new rules on appraisal independence requirements within 60 days of the bill’s enactment and would sunset the Home Valuation Code of Conduct (HVCC) at that time.  I have heard from a number of my constituents who are independent appraisers and who were very concerned about being squeezed out of business by the restrictive HVCC.  And, I also have serious concerns about restricting competition in the housing market at a time when its recovery is still very fragile.

Bachmann now Offers Text Messaging in Ever-Expanding Efforts to Communicate with Constituents

Communicating with the people of Minnesota’s Sixth District about the issues and legislation that will impact their families, their businesses, and their futures is my number one priority.  In addition to these weekly e-newsletters, I also communicate via telephone town halls, Twitter, Facebook, postal mail, and email.  I am pleased to announce that you can now also sign up for mobile updates as well.

Text MN6 to 467468 or visit my website (www.bachmann.house.gov) to subscribe to my text message updates.

Bachmann Office Coming to a Town Near You

My staff regularly holds Mobile Office Hours at locations all across the district.  These are opportunities for you to come meet one on one with someone from my office who is trained to be your liaison with federal agencies.  Please bring copies of any paperwork that you might have with you when you visit.  Particularly, if you are having a problem with a federal benefit or program and have letters or documents that might help my staff get answers for you quickly.

Should you have any questions or concerns, however, you can always stop by one of my district offices between 9:00 am and 5:00 pm to talk to my staff as well.    

Woodbury                                          Waite Park
6043 Hudson Road                               110 2nd Street South
Suite 330                                           Suite 232
Woodbury, MN 55125                           Waite Park, MN 56387
651-731-5400                                     320-253-5931

You can find a complete schedule of my Mobile Office Hours on my website at: http://www.bachmann.house.gov/ConstituentServices/mobileofficehours.htm.

And, please take a moment to visit my website (www.bachmann.house.gov)and sign up for my regular telephone town halls as well.  That technology allows you to speak with me from the comfort of your own home.  You’ll get an update on what Congress is doing that might impact you and have the opportunity to ask me a question about what’s on your mind.


Note: Please do not respond to this email, as this is an unattended account. If you wish to unsubscribe from this newsletter, you may do so by clicking the "unsubscribe" link at the bottom of this page. If you wish to contact Congresswoman Michele Bachmann regarding a specific issue, please visit our contact web page at http://bachmann.house.gov/Contact/

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