Draggingtree Posted February 16, 2017 Share Posted February 16, 2017 : FEBRUARY 15, 2017 6:42 PM Ted Cruz wants to gut Elizabeth Warren’s brainchild BY ALEX DAUGHERTY / adaugherty@mcclatchydc.com WASHINGTON Two Texans are leading a fight to abolish the Consumer Financial Protection Bureau, an agency reviled by Republicans since it was created to oversee lending institutions in the wake of the 2008 financial crisis. Texas Sen. Ted Cruz and Texas Rep. John Ratcliffe introduced legislation this week to eliminate a section of the Dodd-Frank Wall Street Reform Act that allowed for the implementation of the CFPB. The bureau, which is responsible for consumer protection in the financial sector, takes complaints and investigates them on the behalf of consumers. It has been targeted by Republicans as a partisan agency that creates burdensome regulations for financial institutions. It was proposed in 2007 by Harvard law professor Elizabeth Warren before she entered the Senate. Link to comment Share on other sites More sharing options...
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