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Thu Apr 13, 2017, 01:38 PM

Rethugs Go Into Overdrive to Destroy Elizabeth Warrens Consumer Financial Protection Agency

A sweeping Republican rewrite of the Dodd-Frank Act would significantly reduce the Consumer Financial Protection Bureau’s (CFPB) power and subjected it to greater White House and congressional oversight.

The bill would turn the CFPB into an executive agency with a removable director, drastically limited powers and a budget controlled by Congress.

House Republicans are preparing major changes to the Dodd-Frank Act, the post-recession banking regulation long reviled by the GOP. House Financial Services Chairman Jeb Hensarling (R-Texas) will release a comprehensive rewrite of the bill by the end of April, a Republican committee aide said Tuesday.


President Trump said Tuesday morning that Republicans are working on "a major elimination of the horrendous Dodd-Frank regulations, keeping some obviously, but getting rid of many."

The new version of Hensarling’s 2016 CHOICE Act would rename the CFPB as the Consumer Financial Opportunity Agency and rein in its powers, according to an outline sent to Financial Services Committee Republicans. These changes in the new version of Hensarling's bill are similar to those proposed in a February memo from the chairman.

http://thehill.com/policy/finance/328387-gop-dodd-frank-rewrite-would-strip-consumer-bureau-power-give-trump-control-of


The coup rolls onward...

7 replies, 4028 views

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Reply Rethugs Go Into Overdrive to Destroy Elizabeth Warrens Consumer Financial Protection Agency (Original post)
orangecrush Apr 2017 OP
Eliot Rosewater Apr 2017 #1
orangecrush Apr 2017 #4
ananda Apr 2017 #2
orangecrush Apr 2017 #5
Angry Dragon Apr 2017 #3
orangecrush Apr 2017 #6
Angry Dragon Apr 2017 #7

Response to orangecrush (Original post)

Thu Apr 13, 2017, 01:41 PM

1. If there is one group of Americans the GOP hates more than others, it is

everybody in the lower 97% of the income brackets.


In other words about 300 million of us, they really dont like us.

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Response to Eliot Rosewater (Reply #1)

Thu Apr 13, 2017, 01:47 PM

4. They are looking out

For their donaters interests.

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Response to orangecrush (Original post)

Thu Apr 13, 2017, 01:43 PM

2. It's nothing but scorched earth over there.

Destroy every institution and policy that helps people.

Make war all the time.

And enjoy the profits.

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Response to ananda (Reply #2)

Thu Apr 13, 2017, 01:48 PM

5. Somebody has to pay

To rebuild Putins military.

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Response to orangecrush (Original post)

Thu Apr 13, 2017, 01:44 PM

3. Americans need no protections because all corporations love them

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Response to Angry Dragon (Reply #3)

Thu Apr 13, 2017, 01:48 PM

6. I feel

Like they just want to love me to death.

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Response to orangecrush (Reply #6)

Thu Apr 13, 2017, 02:17 PM

7. just make sure you leave them all your money first

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