On Dodd-Frank Anniversary, Waters Lauds 5 Years of CFPB Successes for Consumers
Washington, DC, July 21, 2016
Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the sixth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, highlighting the successes of the Consumer Financial Protection Bureau as it celebrates five years of working for consumers:
“In the six years since we enacted Wall Street Reform, we have seen a financial system that works better for consumers and an economy that is stronger because of it. Nowhere is this more apparent than in the important work of the Consumer Financial Protection Bureau, which ensures that Americans have someone looking out for them so they are not harmed by abusive financial practices. In its short five years, the CFPB has already returned $11.7 billion to more than 27 million consumers and continues to work to protect them from abusive mortgages, predatory loans, deceptive credit terms, unfair debt collection practices, and more.
For more information on Dodd-Frank and Republicans’ “Wrong Choice Act”: