GOP bill would eliminate Consumer Financial Protection Bureau

[herding cats]

Source: The Hill

Two Republican lawmakers introduced Tuesday a bill to eliminate the Consumer Financial Protection Bureau (CFPB), the controversial watchdog agency long targeted by the GOP.

The bill from Sen. Ted Cruz (R-Texas) and Rep. John Ratcliffe (R-Texas) would repeal Title X of the Dodd-Frank Act, which established the CFPB.

Republicans have long sought to eliminate or drastically reform the CFPB, but Cruz and Ratcliffe’s approach goes further than current GOP proposals to reshape the bureau.

Cruz said in a statement his bill “gives Congress the opportunity to free consumers and small businesses from the CFPB’s regulatory blockades and financial activism, which stunt economic growth.”

“While there’s much more to do to scale back the harmful regulatory impositions of Dodd-Frank, this legislation takes a critical step in the right direction,” said Cruz.

Read more: http://thehill.com/policy/finance/319517-gop-bill-would-eliminate-consumer-financial-protection-bureau

[Sherman A1]

1. Charming,

simply charming.....

[CaliforniaPeggy]

2. This cannot be borne.

This bureau has done so much good as it protects vast numbers of consumers from the rapacious techniques of the business and banking communities.

We must stop this GOP bill.

Damn those fucking Republicans.

[BREMPRO]

3. "draining the swamp"... getting rid of those pesky regulators..

that prevent financial institution tyranny and potential broad economic collapse..

makes sense to me..

[asiliveandbreathe]

4. When the consumer (voters) starts saying enough is enough

we will have change..

..hurry up thieves...people are paying attention...must work faster to screw the American people.....POSs....

[byronius]

5. 'Let the bankers rule us! They're smart!'

Apparently no one's seen the new 'Series Of Unfortunate Events'.

[BumRushDaShow]

6. That is Elizabeth Warren's baby

I expect they want to distract & muzzle her from other things in order to try to defend her creation.

[elmac]

7. So banksters and payday loaners

can charge 100% interest and take you to the cleaners if you miss a payment. wow, make ameriKa great again. Do we just send our checks straight to putin?

[erronis]

8. First they came after the CFPB and since we didn't know what it did, we were silent

Then they came after OSHA - again silence.

The SEC and the independent FRB. Silence.

The FBI (already Comey-promised).

The Supreme Court - if it can't be stacked quickly, call them so-called justices and cut off funding and access.

The press? In jail with them.

Free access internet? How would you know that everything you read is fed to you through a Bannon filter? How would you know that everything you wrote was being tagged and building your dossier for assignment to a "work camp"?

Reporting on friends and family? The Stasi learned well from the USSR. We may be getting lessoned also.

[TranssexualKaren]

9. Capitalism is digging its own grave.

They will fight small reforms that might ultimately rescue them.
"Everything Karl Marx told us about communism was a lie, but then everything he told us aabout Capitalism was true" (a popular Russian refrain).

[PSPS]

10. This is why trump will never be impeached. He will reliably sign bills such as this.

[TranssexualKaren]

11. Yes, just as the stock market is...

...living in a parellel universe so is the Republican congress. Reality will catch up soon enough.

[Angry Dragon]

12. two fuck heads from the same state

[caballojm]

13. "Cruz said in a statement his bill gives Congress the opportunity to free consumers

and small businesses from the CFPB’s regulatory blockades and financial activism ..." Translation: this will give consumers the opportunity to be exploited in all ways imaginable by the same banks that caused the economic disaster of 2008 and who also handed him a shit-ton of campaign money.

[safeinOhio]

14. "free consumers and small businesses"?

It screws consumers and small businesses and only frees up more money for more lobbyist to screw the little guys and gals.

[bucolic_frolic]

15. Yeah they like laissez-faire capitalism in Texas

[sinkingfeeling]

16. Because the GOP is all about helping the working man.