Today, in response to a series of bills introduced by Senate Republicans to undermine the Consumer Financial Protection Bureau (CFPB), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following statement:
“Republicans are wasting no time in their shameful efforts to dismantle the Consumer Financial Protection Bureau. In the time since its creation, this highly successful agency has returned nearly $12 billion to more than 29 million consumers who have been harmed by financial institutions. Simply put, the CFPB stands up for people who have been ripped off by Wall Street and predatory lenders, and puts money back in their pockets.
“In recent days we’ve seen a number of Republican proposals regarding the CFPB. These proposals no longer pretend to be attempts to improve the Bureau. Rather, they all broadcast one clear intention: to destroy the CFPB. This is all part of President Trump’s Wall Street First agenda, which would clear the way for unscrupulous companies to once again prey on hardworking Americans across the country. We are not going to let them get away with it.”