Albert Einstein once quipped that insanity is “doing the same thing over and over again and expecting different results.” He wasn’t speaking of the Consumer Financial Protection Bureau (CFPB) when he made this quip, but he could have been.
Since its inception in 2011, the CFPB has produced a relentless torrent of policies so disconnected from economic reality that it punishes the very people it’s supposed to help — the most financially vulnerable.
For the last decade, its heavy-handed rules have inflated costs, limited consumer options, and left families with fewer choices. Yet, the CFPB continues to try to deny the fundamental laws of economics, hoping for a different result.
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