Republicans set sights on eliminating Obama-ere federal consumer protection bureau

Rep. Byron Donalds has reintroduced legislation to abolish the Consumer Financial Protection Bureau, an Obama-era creation that conservatives have long criticized as a government red-tape factory with no accountability to voters.

“Look no further than the CFPB for the epitome of the Washington Swamp: an unconstitutional, unaccountable and overreaching government agency with no Congressional oversight,” said Mr. Donalds, Florida Republican.

“In addition to the drain of federal resources, the CFPB hinders economic prosperity by imposing burdensome and unnecessary regulations on American consumers,” he said. “It’s high time to eliminate the CFPB once and for all.”