Rep Cmte Financial Services

Obama Set to Visit CFPB Mired in Controversy

Washington, Oct 17 -

A spokesperson for the House Financial Services Committee made the following statement regarding President Obama’s decision to visit the temporary headquarters of the CFPB today:

“It’s pretty bold for President Obama to visit an agency mired in controversy over employee discrimination that’s also leasing office space in a building owned by an Obama bundler while its Washington headquarters undergoes a $216 million renovation – waterfall and all.  Millions of Americans are struggling in this economy, and the CFPB and Dodd-Frank make that struggle more difficult.  It’s now harder for low and moderate-income Americans to buy a home, services like free checking are being eliminated, credit card fees are going up and fewer low-income Americans can afford to access traditional banking services.  The intended beneficiaries of Dodd-Frank and the CFPB are worse off.  Dodd-Frank has proved to be the financial equivalent of Obamacare.”