Warren, Banking Committee Democrats Introduce Amendment to Big, Ugly Bill to Strip Out Republican Attack on CFPB
Warren: “The CFPB has returned over 21 billion dollars to more than 205 million Americans who were cheated by big banks and giant corporations. That is why this agency is popular across the country. But, from the beginning, Republicans in Congress have been trying to kill it, and now they want to slash the CFPB’s modest funding cap almost in half.”
Washington, D.C. – Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and all committee Democrats, offered an amendment to stop President Donald Trump and Congressional Republicans from attacking consumers and slashing available funds for the Consumer Financial Protection Bureau (CFPB) in their Big, Ugly Bill. Senator Warren spoke on the Senate floor to urge her colleagues to support her amendment.
Senator Warren’s remarks are below:
The Consumer Financial Protection Bureau is the financial watchdog to keep people from getting cheated on credit cards, mortgages, Venmo, payday loans, and a zillion other transactions. When this financial cop can’t do its job, there is no one else in the federal government to pick up the slack.
The CFPB has returned over 21 billion dollars to more than 205 million Americans who were cheated by big banks and giant corporations.
That is why this agency is popular across the country. But, from the beginning, Republicans in Congress have been trying to kill it, and now they want to slash the CFPB’s modest funding cap almost in half.
Not to save working people money. But to make it easier for corporations to trick and trap millions of people. Scammers love this Republican move.
I urge my colleagues to vote yes to support the CFPB, the little agency that fights for all Americans. And I reserve the remainder of my time.
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