Friday, February 03, 2017
Trump/GOP Readying An Attack On The CFPB
While Trump hasn't released his plans to attack Dodd-Frank, the GOP in Congress already has a bill. Rep. Jeb Hensarling (caricatured here by DonkeyHotey) is ready to introduce the CHOICE Act -- an odious bill that would remove many of the regulations imposed on the financial sector by Dodd-Frank. It would also de-fang the CFPB, making it much harder to hold the financial industry responsible for abusing consumers.
Here is part of an excellent article by Jared Bennett for the Economic Policy Institute. The part of the article I'm reposting concerns the CFPB, and how the CHOICE Act would change it.