House Republicans Label CFPB an "Affront" to Constitution, Urge Passage of CHOICE Act
House Financial Services Committee Chair Jeb Hensarling (R-TX) and Representative Roger Williams (R-TX) called for the passage of the Financial CHOICE Act, which they said would (i) rein in the CFPB, (ii) establish the "toughest penalties in history" for certain financial crimes and (iii) remake the CFPB as an accountable civil enforcement agency.
The representatives also lambasted the CFPB and its director, Richard Cordray, for ignoring "the law and the intent" of Congress by circumventing existing laws. They called the agency "an affront to the Constitution, to checks and balances and to due process" and described it as a "perfect example of the political left's dangerous belief that the ends always justify the means."
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