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Consumers Win As Congress Overturns Unconstitutional Bureaucracy’s Harmful Rule


Washington, Oct 25 -

Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about the Senate's vote to reject the CFPB’s rule to deprive consumers of a low-cost, easy way to resolve legal disputes without having to hire trial lawyers:

“This is a victory for consumers, a defeat for the wealthy trial lawyers lobby and a rejection of the unchecked, unconstitutional and unaccountable CFPB.  Instead of carrying water for the Democrats’ favored special interests, the CFPB should actually work to protect consumers.  I commend the Senate for joining the House in fighting for consumers and for draining the bureaucratic swamp of yet another political regulation.  Laws that Americans live under must be written by their elected representatives, not unelected and unaccountable bureaucrats.  It’s good to see Congress reclaim its legislative authority and operate as our Constitution requires.”