Political Quotes

“I oppose this amendment because it seeks to limit the Consumer Financial Protection Bureau by using the appropriations process to politicize and defund the agency. All the bank regulators are independently funded. In addition to the Consumer Financial Protection Bureau, the Federal Reserve, the OCC, the FDIC, and the NCUA are all funded outside of the appropriations process. In fact, so is the FHFA, the FSOC, and OFR. Congress provided the regulators with independence from the executive branch and the appropriations process to ensure that financial regulators focused on protecting the financial system from harm. However, ever since it was created, Republicans have focused on the Consumer Financial Protection Bureau's funding because, more than any other agency, it has helped level the playing field between Wall Street on one side and families, communities of color, older Americans, servicemembers, and students on the other. Under the guise of the appropriations process, Republicans are seeking to do by amendment what they were unable to do for the 8 years they were in power, eliminate the Consumer Financial Protection Bureau entirely. To that end, Mulvaney's first request for funds to be transferred from the Federal Reserve to fund the CFPB's operations was zero. He later asked Congress to turn the CFPB, which he previously called a ``sick, sad'' joke of an agency, into an appropriated one.…”