Welcome back to OnThePoint, this is Greg C. Truax.
The Consumer Financial Protection Bureau is a textbook example of government overreach—a bureaucracy that misunderstands the complexities of the economy. It operates on the flawed premise that Washington bureaucrats, rather than free markets, should dictate financial decisions.
Meanwhile, taxpayers already fund twelve federal financial regulators, plus state agencies, creating a tangled web of oversight. Eliminating the CFPB will not weaken consumer protection—we already have and pay for the Federal Trade Commission.
With the national debt soaring to $36 trillion, unneeded outfits like this must go. The Trump administration is right: It’s time to dismantle this bureaucracy and save taxpayer dollars.
From the NewsTalk 1040 studios, this is Greg C. Truax.
Greg C. Truax is president of GCTMediaGroup, a film production studio, online magazine publisher, radio commentator, and creator of written and broadcast opinion commentary.