The CFPB imposes burdensome regulations that harm small businesses, consumers and the financial services industry overall. This stunts economic growth to the whole country’s detriment. Eliminating this agency would help boost the economy and reduce barriers to growth.
The CFPB works to protect American consumers from predatory practices by the financial services industry and others. Eliminating this agency would be an administrative nightmare and a return to the pre-financial crisis days of poorly regulated banks taking advantage of consumers.