Congresswoman Beatty Blasts Illegal Destruction of the Consumer Financial Protection Bureau

Washington, DC —This evening, Congresswoman Joyce Beatty (OH-03), Ranking Member of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, joined Rep. Maxine Waters (CA-43), Ranking Member of the House Financial Services Committee, and House Democrats to protest efforts by the Department of Government Efficiency (DOGE) to shut down the Consumer Financial Protection Bureau (CFPB)—a critical watchdog against corporate greed and predatory financial practices.

Congresswoman Beatty released the following statement regarding the rally:

“The Consumer Financial Protection Bureau has put a staggering $21 billion back into the pockets of hard-working Americans. That is why more than four out of five Americans support the CFPB, including 77% of Republicans. The CFPB’s work is not about politics—it’s about fairness and the ability to achieve the American Dream. The CFPB ensures that everyday people, not just the wealthy, have a fighting chance at financial stability.”

“That’s why billionaires like Elon Musk want to dismantle this watchdog—not to save taxpayers’ money, but to make it easier for big banks and greedy corporations to take advantage of everyday Americans,” said Congresswoman Beatty.

The CFPB plays a vital role in protecting consumers from financial fraud and malpractice, assisting individuals across the country—including those in Ohio’s Third Congressional District. Samuel’s experience is one of many that illustrate why the CFPB is essential.

In 2021, Samuel Camacho of Ohio faced a billing error that nearly destroyed his financial future:

“In 2021, I was diagnosed with kidney stones that required emergency surgery. My original medical bill was $25,000—an error that should have been $6,000. No one from the hospital or my insurance discussed any payment assistance options with me. Unable to keep up with the bills, my debt was transferred to a third-party collections agency. To date, I am still paying off this debt, and my credit continues to suffer.”

In January, the CFPB finalized a rule to remove medical bills from credit reports, which was estimated to remove $49 billion in medical bills from the credit reports of about 15 million Americans. Elimination of this vital agency threatens implementation of the rule and leaves vulnerable consumers like Samuel without recourse.

Watch Congresswoman Beatty’s full remarks at the rally HERE.

Congresswoman Joyce Beatty (OH-03) sits on the House Committee on Financial Services and serves as Ranking Member of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions. She was the first-ever Chair of the Financial Services Subcommittee on Diversity and Inclusion and continues to lead efforts to ensure the financial services industry works better for all Americans. She also serves on the Subcommittee on Financial Institutions.

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