Statement of Rachel Weintraub Opposing S.1607, the Independent Agency Regulatory Analysis Act of 2015
Consumer Federation of America strongly opposes S.1607, the Independent Agency Regulatory Analysis Act of 2015. This bill would undercut the ability of independent federal agencies like the Consumer Financial Protection Bureau (CFPB), the Consumer Product Safety Commission (CPSC) and the Federal Trade Commission (FTC) to protect consumers from predatory financial schemes, dangerous consumer products and costly, anti-competitive practices. Before marking-up of this bill, we urge you to conduct a legislative hearing to thoroughly exam the effect of the bill on the many crucial consumer protection efforts that independent agencies are currently undertaking.
