$241M went to constituents of Republicans pushing CFPB changes: watchdog

The Consumer Financial Protection Bureau (CFPB) has returned hundreds of millions of dollars to consumers who are also constituents of Republican lawmakers who support changes to the bureau’s funding structure, according to a new report watchdog Accountable.US shared exclusively with The Hill. Accountable.US’s analysis focused on 10 states: Arizona, Kentucky, Michigan, Missouri, New York, North Carolina, Pennsylvania, South Carolina, Texas and Wisconsin. It found that consumers in these states received more than $240.9 million through the CFPB’s Civil Penalty Fund from 2012 through 2022, according to Accountable.US’s analysis of data provided by CFPB. “Republicans in Congress should be celebrating the fact the Consumer Financial Protection Bureau has recouped billions of dollars for families who’ve been ripped off by bad actors in the financial industry,” Liz Zelnick, director of Accountable.US’s program on economic security and corporate power, told The Hill.

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