BARR’S FINANCE INDUSTRY MONEY
Rep. Andy Barr has taken over $6.8 million from the financial industry, far more than he has taken from other sectors.
Barr’s campaigns have also benefited from almost $800,000 in spending by the National Association of Realtors, which paid for the site ThankYouAndyBarr.com for his pro-industry actions, including legislation he introduced to undermine consumer protections for mortgages.
Rep. Barr has a long history of working to undermine the Consumer Financial Protection Bureau (CFPB). This includes repeatedly introducing the TABS Act, legislation to “rein in” what he called “the largely unaccountable” CFPB, and legislation to help mortgage lenders “circumvent” certain consumer protections.
Barr has cosponsored numerous bills in favor of industry over consumers. Barr’s voting record also includes supporting bills that would have had a “crippling effect” on financial regulation.
SUPPORTER OF DEREGULATING BANKS AND PAYDAY LENDERS
Rep. Barr has voted for legislation to help payday and other high-cost lenders avoid state interest rate caps.
Barr has also introduced many pieces of pro-industry legislation, including significant rollbacks of protections stemming from the 2008 financial crisis.
While in private law practice, Rep. Barr focused on representing big business interests.
Most notably, Barr repeatedly represented pharmaceutical giant Eli Lilly against consumer lawsuits alleging the company “induced” doctors to prescribe drugs with harmful side effects. Barr, whose most significant career political contributor is a major coal company, has also vocally defended the coal industry, even using his House Financial Services Committee position to pressure megabank CEOs to keep financing fossil fuels.