Consumer Financial Protection Safety and Soundness Improvement Act of 2013

Floor Speech

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Mr. STUTZMAN. Mr. Chairman, I rise in support of the Consumer Financial Freedom and Washington Accountability Act. I thank Congressman Duffy and Chairman Hensarling for their leadership on this issue.

The CFPB is disgracefully unaccountable to the American people. Richard Cordray and future directors of the Bureau are virtually unchecked by Congress and the President.

We have seen what happens when bureaucrats so powerful are left so unaccountable. In its 3 short years, the CFPB has burned through its budgets and riffled through the private financial data of millions of Americans.

Hoosiers deserve consumer protections, but they also deserve integrity and accountability. After talking with families, small businesses, community banks, and credit unions back home, I am proud to support the commonsense reforms before the House today.

Let's replace the CFPB's Director with a five-member commission to ensure healthy discussion and bring more seats to the table. Let's rein in the CFPB's budget so that the Members of Congress from both parties can protect their constituents. Let's prohibit government bureaucrats from using private personal information without the consumers' consent.

Mr. Chairman, let's protect and empower American consumers, not Washington bureaucrats.

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