financialservices.house.gov

Cmte Financial Services (R)
Contact:


McHenry Statement on SCOTUS Agreeing to Hear Challenge to CFPB’s Funding Structure

Washington, Feb 27 -

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Supreme Court’s announcement that it will hear a challenge to the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding structure.

“As Republicans have said for years, the CFPB’s unconstitutional funding structure improperly insulates it from Americans’ representatives in Congress,” said Chairman McHenry. “This problem is compounded when the Bureau is led by a rogue regulator, as it is now. Director Chopra is returning the CFPB to its Obama-era regulation by enforcement approach that harms both consumers and our economy. Republicans promised the American people we would restore accountability to the federal bureaucracy. The House Financial Services Committee is committed to delivering transparency with legislation like Congressman Barr’s TABS Act to bring the unaccountable CFPB under the annual appropriations process.”

###