Washington D.C. – Today U.S. Rep. Bill Huizenga (R-MI-4)’s office doubled down on the Congressman’s record of protecting his powerful financial industry donors at the expense of Michigan families. Earlier today, nonpartisan government watchdog Accountable.US released a new report showing the Consumer Financial Protection Bureau has recouped nearly $20 million in funds for 47,712 Michiganders between 2012 and 2022 who were victims of fraudulent or predatory financial industry behavior. In response to The Hill’s reporting of the analysis, Rep. Huizenga’s office dismissed and mocked the CFPB’s success returning stolen money to Michigan families taken advantage of by bad actors in the financial industry. While totally out-of-touch with everyday families who face a minefield of industry scams, tricks and traps, the comments come as little surprise after Congressman Huizenga has enjoyed a whopping $2.6 million in donations from the financial sector and industries regulated by the CFPB.  

The Hill notes Congressman Huizenga does not “rule out” the CFPB’s total “elimination” even after the top consumer advocate’s work has benefited so many close to home. For instance, the CFPB helped lead a major enforcement action against Michigan-based Ally Financial Inc. and Ally Bank (Ally) that grossly overcharged over 235,000 minority borrowers with higher interest rates for their auto loans. At the time it was the federal government’s largest auto loan discrimination settlement in history. But if Congressman Huizenga had his way, there would be no cops on the beat looking out for vulnerable consumers frequently targeted by these kinds of discriminatory and predatory industry practices.

Congressman Huizenga is so desperate to keep the checks coming from predatory lenders and greedy banks, he doesn’t realize how out of touch it sounds mocking the CFPB for returning stolen money to hard-working Michigan families,” said Liz Zelnick, Director of Accountable.US’ Economic Security & Corporate Power.

“The tens of thousands of victims of industry discrimination and abuse in Michigan helped out by the CFPB might disagree with the Congressman that it’s all a big joke. There’s nothing funny about a lawmaker who’d rather represent the scammers, not the scammed. The Congressman openly admits he wouldn’t mind if the CFPB was dismantled, along with all the consumer protections and financial restitution it brings for Michigan consumers. That is exactly why the CFPB must remain independent and free from partisan political influence from the likes of industry-shill Rep. Huizenga who would gut funding for the nation’s leading consumer watchdog the first chance he got,” Zelnick added.

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