Warren, Kim Joint Statement on New Independent Watchdog Report Detailing Trump Attempt to Destroy CFPB

Warren, Kim Joint Statement on New Independent Watchdog Report Detailing Trump Attempt to Destroy CFPB

Washington, D.C. - Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Senator Andy Kim (D-NJ), member of the Committee, released the following joint statement following the release of a report at their request for an investigation by the independent congressional watchdog Government Accountability Office (GAO) into the Trump Administration's attempt to destroy the Consumer Financial Protection Bureau (CFPB):

"Donald Trump promised to lower costs 'on day one.' Today's independent watchdog report reveals the staggering extent to which the Trump Administration's assault on the CFPB has cost American families. New details lay out Trump and Russ Vought's systematic attempt to destroy the agency, including by cancelling hundreds of contracts, creating a backlog of 16,000 consumer complaints, and halting 80 enforcement actions against companies for cheating consumers.

Over the last year and a half, Americans have paid at least $26 billion because of Trump's attack on the agency. But the Administration's attempt to eliminate the agency has failed, thanks to people across the country coming together to fight for the CFPB. Today's report is a reminder of how important it is to stay in the fight."

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