February 12, 2025 – Washington, D.C.
During today’s House session, Rep. Susie Lee (D-NV) delivered a strong defense of the Consumer Financial Protection Bureau (CFPB) and denounced efforts by the Trump administration, Elon Musk, and the Department of Government Efficiency (DOGE) to dismantle it. She warned that eliminating the CFPB would benefit billionaires and corporations at the expense of working-class Americans, particularly those struggling with rising costs and financial exploitation.
Lee’s Key Arguments: CFPB Protects Working Families
1. The CFPB Has Saved Americans Over $20 Billion
Rep. Lee outlined the critical consumer protections the CFPB has provided since its creation, including:
- Capping overdraft fees and credit card late fees, preventing banks from exploiting working families.
- Suing big banks that engaged in fraudulent and predatory practices, forcing them to compensate affected consumers.
- Recovering over $20 billion from abusive corporations, ensuring that money is returned to Americans instead of lining the pockets of Wall Street executives.
“The CFPB has protected working families for years. It has saved Americans over $20 billion from abusive corporations.”
She argued that eliminating the CFPB would strip these protections away, making it easier for banks and predatory lenders to take advantage of consumers.
2. Elon Musk and DOGE Are Attacking Consumer Protections
Rep. Lee blasted Musk and the Department of Government Efficiency (DOGE) for their role in dismantling the CFPB, calling it an attack on working families in favor of billionaires and big corporations.
“Now Elon Musk and DOGE want to kill it because it’s better for billionaires and big corporations, and not for you.”
She emphasized that removing consumer financial protections does not help ordinary Americans, instead making it easier for financial institutions to impose hidden fees, hike interest rates, and target vulnerable consumers.
3. The Trump Administration’s Policies Are Hurting Working Americans
Lee also criticized the broader economic policies of the Trump administration, arguing that none of its actions so far have actually lowered costs for working families.
- Inflation and high costs continue to burden Nevadans.
- Financial institutions are poised to exploit consumers if CFPB oversight is removed.
- The administration’s priorities favor corporate profits over affordability for working families.
“None of what the Trump administration has done so far is making life more affordable for working Nevadans.”
4. A Call to Action: Republicans Must Decide
Lee concluded her speech by urging Americans to demand accountability from Republican lawmakers, warning that they hold the power to stop the CFPB’s dismantling but have so far refused to act.
“If you are concerned about these attacks on working families and attacks on our Constitution itself, I implore you to call your nearest Republican.”
She challenged GOP members of Congress to stand up against the push to eliminate the CFPB and to follow through on their promises to make life more affordable for working Americans.
“Let’s face it, they control Congress, and it’s up to them to stand up and help us stop this unconstitutional power grab.”
What’s Next?
With House and Senate budget negotiations ongoing, expect continued battles over consumer financial protections, banking regulations, and corporate accountability.
- Will Congress move forward with dismantling the CFPB, or will bipartisan pressure force Republicans to protect it?
- How will Americans react to the removal of consumer protections that have saved them billions?
- Will GOP lawmakers publicly vote on the CFPB’s fate, as Democrats have demanded?
As the fight over consumer protections escalates, Rep. Lee’s speech signals that Democrats will continue pushing back against efforts to weaken financial oversight.
What Do You Think?
Should the Consumer Financial Protection Bureau be dismantled, or is it a necessary watchdog for working Americans? Share your thoughts in the comments!
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