US EditionElizabeth 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.
5 Articles
5 Articles
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…
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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