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Started By
Message
Rubio Unveils Consumer Financial Protection Bureau Accountability Act of 2017
Posted on 2/21/17 at 8:36 pm
Posted on 2/21/17 at 8:36 pm
quote:
Called the Consumer Financial Protection Bureau Accountability Act of 2017, the bill would place the 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 the Dodd-Frank financial reform law mandating its creation, is currently independently funded by the Federal Reserve.
quote:
Republicans have sought drastic changes to the CFPB since it opened. They say the bureau - controlled by an independent director with regulatory and punitive power - is unaccountable and too powerful.
LINK
This is BIG LEAGUE!! The first step to rolling back Dodd-Frank and of course Marco is at the head of the charge. Dodd-Frank is dead just like how Marco killed ObamaCare.
3
Posted on 2/21/17 at 8:43 pm to OleWarSkuleAlum
Now Marco has more leverage over the lobbyists for Wall Street!
Let the contributions rain down, suckers!
Let the contributions rain down, suckers!
This post was edited on 2/21/17 at 8:44 pm
Posted on 2/21/17 at 8:50 pm to OleWarSkuleAlum
The fact that they could apply punitive damages to their fines without any oversite is ridiculous.
Posted on 2/21/17 at 9:23 pm to OleWarSkuleAlum
Big Marco.
20/20
Vision. Foresight. Growth.
20/20
Vision. Foresight. Growth.
Posted on 2/21/17 at 9:56 pm to Stuckinthe90s
The CFPB really is hard for businesses to get a handle on. You may be complying with years of case law, then all of a sudden the CFPB decides that isn't good enough and slams the frick out of you.
Posted on 2/22/17 at 5:23 am to Teddy Ruxpin
quote:
The CFPB really is hard for businesses to get a handle on. You may be complying with years of case law, then all of a sudden the CFPB decides that isn't good enough and slams the frick out of you.
Bad for business and that is why Marco is taking it down.
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