Elizabeth Warren’s greatest accomplishment is in the Republicans’ crosshairs. Cenk Uygur and Ana Kasparian, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.
“WASHINGTON ― Senate Republicans are gearing up for an assault on one of the trademark populist achievements of the Obama administration, vowing to take on the Consumer Financial Protection Bureau.
The agency, the brainchild of Elizabeth Warren, back when she was a law professor, was enacted as part of the 2010 Wall Street reform bill. Since then, it has returned nearly $12 billion to 27 million consumers who’d been victims of one predatory scam or another. More than 1 million consumer complaints have been filed with the agency.
Targeting the CFPB would seem to be a strange move under President-elect Donald Trump, a populist who won the White House on the back of deep economic anxiety, promising to break the hold the rich and powerful have on Washington.
Sen. Richard Shelby (R-Ala.), formerly chairman of the Banking Committee, told HuffPost he wanted to see the agency eliminated. “My top priority is either to bring the consumer agency under appropriations” ― which would give Congress the power to shrink its budget, or bar it from spending money on certain activities ― “or abolish it. But we’ll see what we can do,” he said. “I think it’s been a nightmare, to a lot of businesses, small business. Unbridled power, arrogance.”
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Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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