GOP senators unveil bill to give Congress control of consumer bureau budget

[herding cats]

Source: The Hill

More than a dozen Republican senators are backing a bill to give Congress greater control and oversight of the Consumer Financial Protection Bureau (CFPB).

Sen. David Perdue (R-Ga.) will introduce a bill Wednesday to let Congress control CFPB’s budget, his office told The Hill on Wednesday.

Called the Consumer Financial Protection Bureau Accountability Act of 2017, the bill would place CFPB under the congressional appropriations process, letting lawmakers control its budget. That would give Congress the ability to drastically limit the scope and size of the bureau, regardless of who controls it.

The CFPB, opened in 2011 per a section of Dodd-Frank mandating its creation, is currently independently funded by the Federal Reserve.

Read more: http://thehill.com/policy/finance/319681-gop-senators-unveil-bill-to-make-congress-control-consumer-bureau-budget

[cstanleytech]

1. Translation it to put it under more control of the people its supposed to police

because those people pay lobbyists and donate to the politicians to kill investigations and or laws that might cost the varies higher ups at the companies things like mulitmillion dollar golden parachutes or laws that require that they dont use lead paint in their products.

[Proud Liberal Dem]

2. Yup

They've been wanting to do this since its inception. Elizabeth Warren is in a prime place to lead a filibuster against this in the Senate. This shouldn't be that hard to kill.

[mpcamb]

8. Right. Time to fight back while the Rs are hit with a landslide of bad news.

It easier to make them look as bad as they are now.

[FBaggins]

9. It won't be so easy to kill

They have not only the numerical advantage, but the DC Circuit declared the current CFPB structure to be unconstitutional - basically saying that if Congress doesn't fix it, it becomes an executive agency under the President.

Add to that fact that the alternative legislation that Cruz and others are pushing just kills the CFPB outright... and this may start to look like the best option.

[Snotcicles]

3. Translation: Starve the beast. nt

[gademocrat7]

4. Perdue is a deplorable.

[lark]

5. MF'ers!

They will fuck us over every single way their little one cell brains can devise. Why do they hate working class people so much, think we don't have a right to live and prosper? You'd think that millionaires would be fine with letting the little people get what they can, oh no! Every penny we earn they think is taken from some rich guys wallet and so they begrudge us and want us to have to pay everything we make to the PTB and no ability to keep anything for ourselves.

[Angry Dragon]

7. It is very simple: They do not have ALL the money yet

[Angry Dragon]

6. another win for the people

that is repub scum bags ............ as Trump would say: Very, very bad people