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Elizabeth Warren’s ‘consumer watchdog’ hounded legit businesses — time to shut it down

  • The Consumer Financial Protection Bureau was created by the Dodd-Frank Act in 2010 to protect consumers, but has faced criticism for harming some Americans it aimed to help.
  • CFPB's recent rule caps bank overdraft fees at $5, potentially saving consumers $5 billion annually, as stated by the bureau.
  • CFPB's funding structure has been challenged, with the court ruling that funding through the Federal Reserve is constitutional, despite the Fed's operating loss since September 2022.
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The Consumer Financial Protection Bureau Harms Those Whom It Claims To Protect

By Jane L. Johnson, Mises Wire | January 31, 2025 Abolishing the Consumer Financial Protection Bureau (CFPB) should rank high on the list as the Department of Government Efficiency (DOGE) seeks to cut reckless federal spending. This agency—created in the Wall Street Reform and Consumer Protection Act of 2010, known as Dodd-Frank, intended to address what many considered the causes of the 2008-09 financial crisis—has, in fact, harmed some America…

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Time to Shut Down the Consumer Financial Protection Bureau

Mick Mulvaney, NYP Under Barack Obama and Joe Biden, the CFPB was closer to a progressive vigilante shakedown shop than a government regulator. Donald Trump should shut it for good.

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New York PostNew York Post

Elizabeth Warren’s ‘consumer watchdog’ hounded legit businesses — time to shut it down

Under Barack Obama and Joe Biden, the CFPB was closer to a progressive vigilante shakedown shop than a government regulator. Donald Trump should shut it for good.

·New York, United States
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U-S-NEWS.COMU-S-NEWS.COM

POLITICS: Consumer ‘watchdog’ hounded US businesses — let’s shut it down – U-S-NEWS.COM

Recognizing that free advice is worth exactly what you pay for it, allow me to offer Treasury Sec. Scott Bessent some insight on his new gig as acting director of the Consumer Financial Protection Bureau. The bureau, originally the brainchild of Sen. Elizabeth Warren, was built on the misguided principle that protecting consumers in the financial services arena should be “above politics.” In Washington-speak, that means an entity that’s not acco…

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New York Post broke the news in New York, United States on Tuesday, February 4, 2025.
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