mr. crapo: mr. president, i rise today to offer my support for senator moran and senator toomey's resolution using the congressional review act to disapprove of the cfpb's 2013 auto finance guidance. it is important that congress disapprove this guidance because it was an attempt by the cfpb to make substantive policy changes through guidance rather than through the rule-making process governed by the administrative procedures act. it was also an attempt to regulate auto dealers who were explicitly exempted from the cfpb supervision and regulation under the endanger dodd-frank act. according to an internal cfpb memo, the cfpb rejected developing a rule using its statutory authority because, quote, the potentially unfair, deceptive, or abusive actions are ostensibly those of dealers over whom we have no regulatory authority. as "the wall street journal" editorial board noticed, that didn't stop former cfpb chief richard cordray who used the back door of auto financing to regulate dealers. make no mis

. >> mr. crapo. >> aye. >> mr. tillis. >> no. >> mr. kennedy. >> aye. >> mrs. feinstein. >> no. >> mr. leahy. >> no. >> mr. durbin. >> no. >> mr. whitehouse. >> no. >> ms. klobuchar. >> no. >> mr. coons. >> no. >> mr. blumenthal. >> no. >> ms. hirono. >> no. >> mr. booker. >> no. >> ms. harris. >> no. >> mr. chairman. >> no. >> mr. chairman, the votes with six yays, 16 nays. >> the amendment is defeated and we go to final passage. >> mr. president. >> just a minute, before you speak -- mr. chairman. whatever. whatever. >> if we do vote just so when senator cornyn is done if we do vote on it i will stay in session so speak can speak as long as they want to. >> excuse me, mr. chairman. it's topics like this that make me glad i'm on the senate judiciary committee. i think this is really the important role that this committee plays and while i disagree with the remedy prescribed, i do appreciate the chairman bringing this up and letting the committee debate it and vote on it. this is an important topic. i join all my colleagues on the committee and their concern ov

mr. crapo: thank you, mr. president. in just a few minutes at noon, the senate will begin the process of two votes. the first of those votes will be a vote on a resolution brought to the senate by senator moran and senator toomey to reject a rule proposed by the consumer financial protection bureau's 2013 action in which it sought to assert jurisdiction over auto finance guidance. i use the word rule guardedly, though, because as you will see from my remarks, this was an end run by the cfpb in two ways. first, the cfpb doesn't have jurisdiction over auto finance and, second, the cnpb did not -- cfpb did not use the administrative procedures act to adopt a rule. it sought to implement a rule through a process of issuing a guidance to avoid the scrutiny and the legal challenges to its effort to assert this jurisdiction. it's important that congress disapprove this guidance because it was an attempt by the cfpb to make substantive policy changes through guidance rather than through the rule-making process governed by the ad