Waters backs ‘undermined’ staff facing ‘anti-consumer action’

Source: Joe Davidson, Washington Post (Paid Registration)

One of the more egregious examples of President Trump’s attempt to dismantle parts of the federal government has been the ax taken to the Consumer Financial Protection Bureau (CFPB). Consumer protection in the financial services industry has been seriously eroded by a major drop in enforcement actions and staffing. Republicans in Congress have hated the Elizabeth Warren-inspired agency even before she became a Democratic senator from Massachusetts.

But there’s a new Congress in town, at least the House half. House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) is using her perch to oversee the agency and she wants employees to help. In a letter to bureau employees, Waters encouraged them in pursuing the agency’s mission, despite the hostile political environment.

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