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Vote “No” on H.R. 10 – The Wrong Choice for Consumers

Consumers Union, the policy and mobilization arm of the independent, non-profit organization, Consumer Reports, writes to express our strong opposition to the Financial CHOICE Act which would essentially gut the Consumer Financial Protection Bureau (CFPB). By weakening the Bureau’s independence and eliminating many of its core functions, the Financial CHOICE Act would effectively end the CFPB’s ability to carry out its mission of protecting consumers from unfair, deceptive, and abusive practices, supervising banks and nonbanks to prevent consumer harm, taking enforcement action against companies that break the law, and arming consumers with information they need to make smart financial decisions. These changes leave consumers vulnerable to financial scams and rip-offs. We strongly urge you to oppose this anti-consumer legislation.