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House Financial Services hearing spotlights rising grocery costs and concerns about CFPB independence
Summary
At a House Financial Services Committee hearing, an unidentified committee member warned that rising household costs are squeezing families and accused the administration of undermining independent financial regulators, including the CFPB, and flagged an alleged plan forcing CFPB examiners to pledge 'humility.'
An unidentified member of the House Financial Services Committee used opening remarks at a committee hearing to link rising household costs to federal policy and to raise alarms about the independence of financial regulators.
The speaker said many constituents reported sharply higher grocery bills over the Thanksgiving holiday and warned that ‘‘Trump’s weakening economy is squeezing families’’ and could reduce holiday spending. The lawmaker added a pointed quip: "Donald Trump is the Grinch who stole Christmas."
The speaker accused the administration of prioritizing corporate interests over working-class needs and of dismantling institutions that keep costs…
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