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Congressman Byron Donalds (R-FL) has introduced legislation aimed at abolishing the Consumer Financial Protection Bureau (CFPB), arguing that the agency has become a 'left-wing tool' that hinders economic growth and targets political opponents. Donalds expressed support for the bill from fellow Congress members, including Representatives Ogles, Ralph Norman, and McCormick. Norman echoed Donalds' sentiments, describing the CFPB as a 'rogue agency' that operates without adequate oversight and causes harm to small businesses. The proposed legislation seeks to repeal the Consumer Financial Protection Act and eliminate the CFPB altogether, reflecting a growing sentiment among some lawmakers that the agency needs to be dismantled to restore balance in the financial regulatory landscape.
🚨 #BREAKING: Congressman Byron Donalds (R-FL) files bill to outright abolish the Consumer Financial Protection Bureau. DONALDS: "CFPB has served as a left-wing tool to stifle domestic economic growth, target political opponents, and prevent the development of competition."… https://t.co/Vognt5vYyC
💰 .@ByronDonalds introduces a bill to abolish the CFPB, calling it a "left-wing tool" that stifles economic growth, targets opponents, and crushes competition. 📝 Reported by @GraysonBakich. https://t.co/eZaVXa1drl
The CFPB has become a rogue agency, operating without proper oversight causing more harm than good for small businesses. It’s past time to restore balance and abolish the CFPB. https://t.co/NfHSijxvVf
