Rounds, Colleagues Reintroduce Bill to Eliminate Consumer Financial Protection Bureau

WASHINGTON– U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Banking Committee, today joined Sens. Ted Cruz (R-Texas), Mike Lee (R-Utah), Jim Inhofe (R-Okla.), Ben Sasse (R-Neb.), Marsha Blackburn (R-Tenn.) and Rand Paul (R-Ky.) to reintroduce legislation that would eliminate the Bureau of Consumer Financial Protection. 

“The CFPB is an unaccountable regulatory agency created under Dodd-Frank with broad authorities to impose burdensome new rules on the American people – with no oversight from Congress,” Sen. Rounds said. “While we’re pleased to see the current administration rein-in the CFPB’s unchecked powers and bring much-needed accountability to the agency, until it is completely dismantled, it remains a threat to hardworking families. Abolishing the CFPB is one step we can take to ease the regulatory burdens of Dodd-Frank; I’m pleased to work with Sen. Cruz on this important legislation.”

###