Rep Cmte Financial Services

Cordray Appearance Shows Democrats Use CFPB as 'Political War Machine'

Washington, May 17 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about CFPB Director Richard Cordray’s decision to attend House Democrats’ weekly caucus meeting today:

“Everyone knows Mr. Cordray will likely leave the CFPB soon and pursue political office in Ohio again, but his attendance at what amounts to nothing more than a Democrat pep rally shows just how partisan and politicized he and his supposed ‘independent’ agency truly are.  Liberal elites in Washington want to keep the Bureau unaccountable to hardworking taxpayers so they can continue to wield it as a political war machine.  We’ve already seen the abuses that occurred when Democrats used the IRS as their attack dog and unleashed financial regulators to go after legally operating businesses with ‘Operation Choke Point.’  The Financial CHOICE Act holds financial regulators and the CFPB accountable so it can be the consumer protection ‘cop on the beat’ that Americans need.”

Facts About CFPB Reforms in the Financial CHOICE Act

The Financial CHOICE Act creates an independent inspector general for the agency.