GOP bill would eliminate Consumer Financial Protection Bureau
Source: The Hill
Two Republican lawmakers introduced Tuesday a bill to eliminate the Consumer Financial Protection Bureau (CFPB), the controversial watchdog agency long targeted by the GOP.
The bill from Sen. Ted Cruz (R-Texas) and Rep. John Ratcliffe (R-Texas) would repeal Title X of the Dodd-Frank Act, which established the CFPB.
Republicans have long sought to eliminate or drastically reform the CFPB, but Cruz and Ratcliffes approach goes further than current GOP proposals to reshape the bureau.
Cruz said in a statement his bill gives Congress the opportunity to free consumers and small businesses from the CFPBs regulatory blockades and financial activism, which stunt economic growth.
While theres much more to do to scale back the harmful regulatory impositions of Dodd-Frank, this legislation takes a critical step in the right direction, said Cruz.
Read more: http://thehill.com/policy/finance/319517-gop-bill-would-eliminate-consumer-financial-protection-bureau
Sherman A1
(38,958 posts)simply charming.....
CaliforniaPeggy
(149,639 posts)This bureau has done so much good as it protects vast numbers of consumers from the rapacious techniques of the business and banking communities.
We must stop this GOP bill.
Damn those fucking Republicans.
BREMPRO
(2,331 posts)that prevent financial institution tyranny and potential broad economic collapse..
makes sense to me..
asiliveandbreathe
(8,203 posts)we will have change..
..hurry up thieves...people are paying attention...must work faster to screw the American people.....POSs....
byronius
(7,395 posts)Apparently no one's seen the new 'Series Of Unfortunate Events'.
BumRushDaShow
(129,096 posts)I expect they want to distract & muzzle her from other things in order to try to defend her creation.
elmac
(4,642 posts)can charge 100% interest and take you to the cleaners if you miss a payment. wow, make ameriKa great again. Do we just send our checks straight to putin?
erronis
(15,303 posts)Then they came after OSHA - again silence.
The SEC and the independent FRB. Silence.
The FBI (already Comey-promised).
The Supreme Court - if it can't be stacked quickly, call them so-called justices and cut off funding and access.
The press? In jail with them.
Free access internet? How would you know that everything you read is fed to you through a Bannon filter? How would you know that everything you wrote was being tagged and building your dossier for assignment to a "work camp"?
Reporting on friends and family? The Stasi learned well from the USSR. We may be getting lessoned also.
TranssexualKaren
(364 posts)They will fight small reforms that might ultimately rescue them.
"Everything Karl Marx told us about communism was a lie, but then everything he told us aabout Capitalism was true" (a popular Russian refrain).
PSPS
(13,603 posts)TranssexualKaren
(364 posts)...living in a parellel universe so is the Republican congress. Reality will catch up soon enough.
Angry Dragon
(36,693 posts)caballojm
(272 posts)and small businesses from the CFPBs regulatory blockades and financial activism ..." Translation: this will give consumers the opportunity to be exploited in all ways imaginable by the same banks that caused the economic disaster of 2008 and who also handed him a shit-ton of campaign money.
safeinOhio
(32,688 posts)It screws consumers and small businesses and only frees up more money for more lobbyist to screw the little guys and gals.