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At White House, Hensarling Praises ‘Decisive Victory’ for Consumers and Economy


Washington, Nov 1 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement after attending the signing ceremony at the White House today for legislation (H.J. Res. 111) that rejects the CFPB’s rule to deprive consumers of a low-cost, easy way to resolve legal disputes:

“Overturning the CFPB’s harmful regulation is a decisive victory for consumers and our economy.  For far too long, the burden of Washington’s top-down regulations became so severe and so excessive they slowed our economy down and robbed Main Street Americans of opportunities to get ahead.  Thankfully, we now have a Congress and a President who understand that more complicated and excessive regulations are the last thing our economy needs, and that no one unelected and unaccountable government bureaucrat should have so much power to unilaterally impose such sweeping policy on the economy.  As we have worked together to take these economically damaging regulations off the books, the result has been stronger economic growth and consumer confidence at its highest level in 17 years.  

“The unaccountable bureaucrats at the CFPB tried to put the interests of wealthy trial lawyers ahead of the consumers they are supposed to protect.  I was proud to stand with President Trump and my House and Senate colleagues to put a stop to this harmful and misguided rule once and for all.”