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Congress takes another crack at eliminating US CFPB with new legislation

By Neil Roland ( January 30, 2025, 21:08 GMT | Insight) -- Congressional Republicans are introducing bills in each chamber to eliminate funding for the US Consumer Financial Protection Bureau, but taking a new approach. The legislation would mandate zero funding from the Federal Reserve. This is a change from an unsuccessful payday-lenders effort to get courts to change the CFPB’s funding structure last year rather than just the funding amount.In the latest attempt to paralyze the US Consumer Financial Protection Bureau, Republicans are introducing bills in each chamber to eliminate funding for the pro-consumer agency maligned by industry....

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