Barr Supports Reforms to CFPB to Make the Bureau More Accountable
Feb 27, 2014
On Thursday, February 27, Congressman Andy Barr spoke on the House Floor in support of H.R. 3193, the Consumer Financial Freedom and Washington Accountability Act.
Congressman Barr: Thank you. This legislation is about holding Washington accountable. The Bureau of Consumer Financial Protection is one of the most powerful and unaccountable agencies in the entire federal government. Unfortunately, the Bureau reaches deeply into the everyday lives of Kentuckians. In following its partisan agenda, the Bureau makes it harder for small business on Main Street to get a loan to grow their businesses. The Bureau makes it hard for families in Kentucky to obtain a mortgage to purchase a home, including for manufactured homes. The Bureau even makes it harder to get financing discounts that help Kentuckians purchase their car or truck. The Bureau is so out of touch that it even regulates Bath County in my district, one of the most rural counties in America, as, quote, "non-rural." These concerns are not only voiced inside of Washington. Just last week, I was in Powell County, and a small business owner raised his hand during my public event to talk about how the Bureau's rules are harming his ability to do business in his community. This avalanche of red-tape coming out of the Bureau is making life harder for millions of Americans, which is why we need to pass this legislation that will reform the Bureau in a way that reins in the misguided rules that stem from its partisan excesses and unaccountable culture. Thank you and I yield back.