Rounds Introduces Bill to Turn Wall Street Loose on Consumers
The South Dakota Democratic Party issued the following statement from Communications Director Aaron Matson in response to Senator Mike Rounds introducing a bill today to eliminate the Consumer Financial Protection Bureau (CFPB):
“Democrats fought to establish the Consumer Financial Protection Bureau in the wake of a financial collapse that robbed working families of their savings and their homes. Since its founding, the CFPB has been vital in protecting South Dakota families from being cheated by big businesses and has returned nearly $12 billion to consumers nationwide. Eliminating the CFPB will make South Dakotans more vulnerable to the greed and corruption of Wall Street.
“The fact that Republicans like Mike Rounds have been dead set on dismantling the agency since its creation tells us everything we need to know about their priorities, and who they are working for in Washington. While Mike Rounds and his Republican colleagues continue to do whatever they can to weaken consumer protections and let Wall Street and big banks run wild, Democrats will not stop fighting to protect consumers from the greed and recklessness of predatory corporations and financial institutions.”