Both proposals would leave families vulnerable to financial abuse and risk bringing back a financial crisis, says the Center for Responsible Lending’s Policy Counsel Yana Miles. “Passing either of these bills will revert us back to an era of reckless lending behaviors that led us to the Great Recession,” she said, in a statement. “The pernicious bill to undermine CFPB’s budget will embolden payday lenders and bad actors on Wall Street to continue influencing lawmakers to halt the Bureau’s funding, leaving consumers vulnerable to predatory abuse.”
