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senate Bill S. 1335

Should the Consumer Financial Protection Bureau Be Eliminated?

Argument in favor

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.

Bill's Opinion
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08/09/2019
The best financial consumer protection is the free market and personal responsibility.
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JTJ's Opinion
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08/09/2019
Don’t be a fool, big government only protects itself.
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Raymond 's Opinion
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08/09/2019
So most of the comments on this as usual are PRO GOVERNMENT. Please protect me. Please wipe my bottom because I can’t seem to think for myself. My feelings may get hurt. Getting Government out of our lives and out of the economy and anything else very intrusive is best by far. So, ask yourself this question? Has Government done anything so very very great since 1960???? Not really. Higher taxes more people on welfare and broken up families. Destroying America from within to stay in power. Wake up AMERICA. CAREER POLITICIANS who have been in power for 20-30 even 40 years have done nothing for America.
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Argument opposed

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.

burrkitty's Opinion
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08/09/2019
ARE YOU EFFING KIDDING ME?!?! I knew as soon as I read the title that it was a Republican bill. That’s bleeping insane. NO!!!! Do not remove consumer protections!! God you people are awful! Republicans always try and wreck the economy right before they lose power.
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jimK's Opinion
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08/09/2019
What a completely and totally asinine proposal. The financial services industry contributes mightily to the Republican Party. Months ago, Moscow Mitch had already received $15,000,000.00 in campaign contributions from the financial services industry- around 75% of contributions from all sources at that time. Of course they would like to go back to the days of huge penalties for late payments that compounded with additional penalties for those unable to quickly pay initial penalties- and at loan-shark level interest rates; or issuing pay day loans with unrealistic interest rates. At a higher level they would love to profit by selling the type of worthless packaged investments which led to taxpayer bailout of AGI and other US Industries. Many of their abuses targeted the neediest of people who desperately needed funds and would then become entrapped in an endless cycle of compounding debt and penalties; People without the resources needed to challenge any of these practices. We do not need to further enable an industry- whose only ‘product’ is building wealth by whatever schemes they can come up with- without the meaningful monitoring and oversight provided by the CFPB. I cannot believe the ongoing and completely naked greed of our Republican Senate.
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davidf's Opinion
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08/09/2019
NO! NO! NO!! The CFPB has been extremely effective in protecting consumers from predatory lending, banking, and financial practices. This fact is why Cruz has introduced this bill and the Republicans have worked so hard to to cripple/destroy this agency. Not only does the CFPB need to be continued, it needs to be strengthened.
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    The best financial consumer protection is the free market and personal responsibility.
    Like (35)
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    ARE YOU EFFING KIDDING ME?!?! I knew as soon as I read the title that it was a Republican bill. That’s bleeping insane. NO!!!! Do not remove consumer protections!! God you people are awful! Republicans always try and wreck the economy right before they lose power.
    Like (241)
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    What a completely and totally asinine proposal. The financial services industry contributes mightily to the Republican Party. Months ago, Moscow Mitch had already received $15,000,000.00 in campaign contributions from the financial services industry- around 75% of contributions from all sources at that time. Of course they would like to go back to the days of huge penalties for late payments that compounded with additional penalties for those unable to quickly pay initial penalties- and at loan-shark level interest rates; or issuing pay day loans with unrealistic interest rates. At a higher level they would love to profit by selling the type of worthless packaged investments which led to taxpayer bailout of AGI and other US Industries. Many of their abuses targeted the neediest of people who desperately needed funds and would then become entrapped in an endless cycle of compounding debt and penalties; People without the resources needed to challenge any of these practices. We do not need to further enable an industry- whose only ‘product’ is building wealth by whatever schemes they can come up with- without the meaningful monitoring and oversight provided by the CFPB. I cannot believe the ongoing and completely naked greed of our Republican Senate.
    Like (175)
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    NO! NO! NO!! The CFPB has been extremely effective in protecting consumers from predatory lending, banking, and financial practices. This fact is why Cruz has introduced this bill and the Republicans have worked so hard to to cripple/destroy this agency. Not only does the CFPB need to be continued, it needs to be strengthened.
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    The one agency that protects We The People please leave it alone.
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    Seriously? Please stop tearing down protections for citizens in the interest of big corporations. Have some sort of moral compass! The middle class and the marginalized are the ones suffering as government lines the pockets of the wealthy and big businesses. WAKE UP.
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    Protect the people not big business.
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    Protect the consumer, not big business!!
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    WTF? Protecting consumers from corporate theft is supposedly the job of the entire government. However, since it has become a graft filled den of corruption the consumer protection Dept must be protected!
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    The consumer financial protection organization is absolutely necessary in today’s business climate. Even more important due to changes in trade and the relaxation’s in other standards that are being put in place by Republicans. This organization should not only be preserved, but funded more heavily.
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    No, American need more save Guards Against Cyber threats and Consumer protections.
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    No! Don’t take protections of predatory corporations away from helping we... the cirizens. Although, it does NEED to be strengthened, it is a weak agency or MANY MANY more would not be able to be in business, or be doing the practices thet do.
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    Absolutely NOT they get the bad guys off the street
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    Absolutely NOT! You People will take away EVERY DAMN PROTECTION WE HAD IN ORDER TO CONTINUE TO MAKE YOUR DONORS HAPPY and your citizens even more subservient. You are the scourge of the earth. I pray you ALL will be gone in 2020.
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    It's already been proved that financial institutions will do whatever they're allowed to when it comes to making money at the expense of their customers and the country. This is a blatant attempt to once again let a few people get even more rich at the expense of everyone else.
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    I knew it had to be Ted Cruz. Have you seen Ted Cruz on “”The Cartoon President?” Those crazy eyes. Without the EPA, our water will be undrinkable, we’ll have to wear gas mask and hazmat suits. The ground will be so poison that you can’t grow crops. And as far as the FPB, it end would be a “free for all” for crooks. Remember Barry Maydoff. You might as well let him out of jail.
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    No! Why do the republicans always want to destroy something that protects the public? They hate health care so they want to destroy the ACA, they hate employee protections so they eliminate laws that protect from dangers in the workplace, they hate protecting consumers so Terrible Ted wants to do away with the agency that was created to help consumers being preyed upon. They do the bidding of their corporate overlords in return for campaign contributions because the republicans only care about one thing: Power
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    Remove those who want to repeal cfpb!
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    Absolutely not! Consumers need protection from predatory lending & business practices! Just look at why the bureau was created in the first place ... to protect consumers after the banks tanked our economy with their unethical practices! Legislators need to focus more on what is best for ALL of their constituents, not just the ones with the most money!
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    I’m not surprised that this is Ted Cruz’s brain child. Who else would come up with such a stupid, moronic, idiotic, brainless, absurd idea. So that would be a “NO”. And while we’re at it: IMPEACH NOW
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