In his opening statement at a meeting of the U.S. Senate Banking Committee, Senator Tim Scott (R-SC) told CFPB Director Rohit Chopra, that the CFPB has become “the hallmark of government overreach.” In his remarks, Sen. Scott stated, “When it comes to consumer finance, the CFPB should consistently and fairly enforce federal consumer finance law; safeguard access to markets for consumer financial products and services; and ensure that such markets are fair, transparent, and competitive. Sadly, the CFPB’s actions don’t match up with its mandate.”

You can read Sen. Scott’s full remarks here. 

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