A.G. Gancarski
U.S. Senator Rick Scott is co-sponsoring legislation to end the Consumer Financial Protection Bureau, and he’s telling the media that the agency’s sunset is long overdue.
“It’s just money to go harass Americans. They harass Floridians. It’s just money to harass them, and guess what? Trump is doing the right thing. I mean, he’s done so many things, but shutting down this CFPB would be unbelievably important to help build our economy,” Scott told Charlie Kirk on Monday.
Scott backs Sen. Ted Cruz’s “Defund the CFPB Act.“
That bill would zero out payments to the agency.
Scott’s comments come after Russ Vought, who leads the Office of Management and Budget, directed workers to “cease all supervision and examination activity,” as an email obtained by the Associated Press notes.
The issue is one where partisan disagreement is guaranteed.
Democratic Sen. Elizabeth Warren of Massachusetts, a staunch advocate for the agency, calls the CFPB “the cop on the beat … the one who has worked, day by day, to get your money back when some slimeball decided they could cheat you and there wouldn’t be anything you can do about it … the little agency that has fought for us.”
The landmark Dodd-Frank Act created the agency during Barack Obama’s presidency in the wake of the 2008 financial crisis.
“Part of the purpose of creating the Bureau was to increase accountability in government by consolidating consumer financial protection authorities that had existed across seven different federal agencies into one. Consumer financial protection had not been the primary focus of any federal agency, and no agency had effective tools to set the rules for and oversee the whole market. The result was a system without effective rules or consistent enforcement,” the agency asserts on its webpage.
14 comments
WGD
February 11, 2025 at 11:16 am
No, the CFPB exists to protect consumers and working people who are exploited, victimized and cheated by oligarchs and criminals. Scott and Republicans make it their business to make life easier for oligarchs and criminals. More proof that their claim to care about working Americans is complete horseshit.
Dr. Franklin Waters
February 11, 2025 at 12:08 pm
I’ve been saying for years, if you’re a Republican and NOT a member of the 1%, you’re a f*cking sucker. These people do not represent the interests of the average American.
Bill Pollard
February 11, 2025 at 11:28 am
I thought Rick Scott existed to harass Americans.
Dennis Andrew Ball
February 11, 2025 at 11:50 am
It certainly would be helpful by the antagonists to show why and where problems exist in the bureau.
MH/Duuuval
February 11, 2025 at 5:50 pm
CFPB proposed the following rule in June, 2024:
Ban repossession of medical devices: The proposed rule would prohibit lenders from taking medical devices as collateral for a loan, and bans lenders from repossessing medical devices, like wheelchairs or prosthetic limbs, if people are unable to repay the loan.
Apparently this is a thing — repossessing a deadbeat’s prosthetic limb or wheelchair (which I assume to be the motorized kind).
Josh Green
February 11, 2025 at 12:07 pm
Clarification: He means billionaire grifter Americans.
PeterH
February 11, 2025 at 12:13 pm
Actually the bureau was formed to protect Americans from economic predators like Rick Scott.
Michael K
February 11, 2025 at 4:55 pm
Rick did a great job protecting us from massive Medicare fraud!
Musk – the unelected Afrikaner – wants to destroy the CFPB because he thinks big tech billionaires like him should be free to rip people and the government off. For that matter, with his ties to Putin and China, he wants to destroy the US government. He’s already done what China and Russia have been after: confidential data on all Americans.
LawLib
February 11, 2025 at 5:34 pm
Unfortunately, too many Republicans in Congress can’t come to grips with the concept of consumer protection. Rick Scott and his fat cat fellow legislators should take to heart the moral estutely laid out in that Eliot classic, Silas Marner. Protecting our fellow man from ruthless scalliwags is one thing humanity desperately craves.
bob the dog
February 12, 2025 at 6:59 am
CFPB returned 20 BILLION back into the pockets of American consumers. I don’t know about the rest of you, but I don’t believe huge corporations and the Billionaires are going to police themselves.
MH/Duuuval
February 12, 2025 at 9:45 am
CFPB has an excellent return on investment ratio, as does IRS. But, MAGA leaders don’t work for the average American but rather for themselves, existing plutocrats, and wannabe plutocrats.
Diane
February 12, 2025 at 11:18 am
Rick Scott needs to grow a backbone….he is as
Guilty as Trump?
Victoria Olson
February 12, 2025 at 8:05 pm
Michael Did you not Know Senator Rick Scott pleated the 5th, 75 times on his Medicare FRAUD case. During his tenure as chief executive, the legacy of Scott’s leadership of Columbia/HCA — once the nation’s largest for-profit hospital chain before it ousted Scott and settled the largest health care fraud fine in history at the time the company defrauded Medicare, Medicaid, and other federal programs. The U.S. Department of Justice won 14 felony convictions against the company, which was fined $1.7 billion in what was at the time the largest healthcare fraud settlement in U.S. history which was what kept him out of jail and you fools voted him in as Senator so he could steal more from you.
Andy
February 13, 2025 at 8:52 pm
Agencies like this exist to fight fraudsters like you who steal from Seniors Medicare!
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