Statement from Lisa Donner, executive director, Americans for Financial Reform, on the budget riders that would eliminate CFPB’s independent funding:

“In attacking the CFPB through budget riders Wall Street’s allies in Congress are trying to muscle through a weakening of the federal agency with a track record of standing up for consumers in the financial services marketplace, and holding big banks and predatory lenders accountable. This move would be dangerous to the financial security of millions of American families and deeply unpopular. The congressional majority is pushing billions in tax cuts for Wall Street, and now they want to use the budget as a vehicle to make it easier for payday lenders and powerful big banks alike to rip off everyday Americans. We need a budget without poison pill riders at all.”