Ted Cruz, Byron Donalds take action to eliminate federal agency

[corbe]

Ted Cruz, Byron Donalds take action to eliminate federal agency

Story by Thomas Catenacci • 1h ago

Sen. Ted Cruz, R-Texas, and Rep. Byron Donalds, R-Fla., are unleashing an effort Thursday to eliminate the Consumer Financial Protection Bureau (CFPB).

The lawmakers are introducing a bill to repeal the Consumer Financial Protection Act that created the agency and restore federal laws "as if the act had not been enacted," according to a copy of the bill obtained by Fox News Digital. Since it was established in 2010, Republican lawmakers and financial groups have criticized the CFPB as an unnecessary agency.

"The CFPB is an utter and complete waste of government spending and should be eliminated," Cruz, who is the ranking member of the Senate Commerce Committee, told Fox News Digital in a statement. "It is entirely ineffective and does very little to protect consumers."

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https://www.msn.com/en-us/news/politics/ted-cruz-byron-donalds-take-action-to-eliminate-federal-agency/ar-AA1ar4jr?ocid=msedgntp&cvid=1d605018c44444b3b93ff7a51735f603&ei=32

[libertybele]

Good!  BTW I think Cruz and Donalds would make a great team!

[Wingnut]

Has there ever been a Gov agency that has been shutdown?  They tend to be like Kudzu. A nonnative noxious weed that you can't eradicate..

[libertybele]

Has there ever been a Gov agency that has been shutdown?  They tend to be like Kudzu. A nonnative noxious weed that you can't eradicate..

We'll see if anything becomes of this.  But you're right; doubtful.

[corbe]

   As a sitting Senator would Cruz have standing in arguing the case before the Supreme Court, if it gets there?

[DefiantMassRINO]

Yes, with all our Federal and state regulations, and with all our Federal and state regulators, banks still fail when the Fed raises interest rates.

More regulations and more regulators mean more campaign donations from the regulated.

Stupidity and Corruption can't be regulated out of existence.  People need to be fired, have their Executive compensation clawed back, be criminally and civilly prosecuted, and be imprisoned.

Individual Consequence is a more effective deterrent than words on a piece of paper, or, a corporation paying a fine with shareholder money.