Republican Sen. Bill Hagerty recently defended a cease work order for the Consumer Financial Protection Bureau, labeling the agency as 'unconstitutional' in its design and claiming it lacks oversight. Hagerty expressed his concerns about the agency's overreach, stating that it has operated recklessly and exceeded its original mandate.
Hagerty, a member of the Senate Banking, Housing, and Urban Affairs Committee, emphasized the need to rein in the CFPB, which he described as a 'rogue' entity that has been 'out of control for some time.' The newly appointed acting director of the CFPB, Russell Vought, issued an email instructing all employees to halt virtually all work, including efforts to combat financial abuse.
In addition to his criticisms of the CFPB, Hagerty also defended the decision to close the United States Agency for International Development (USAID). He argued that there is significant congressional support for authorizing the closure of USAID, citing a desire for better alignment of the agency's programs with national security interests.
'What we want to see is alignment with our programs with America’s national security interest. USAID has been out of control. I’ve demanded accountability from (USAID), they’ve refused it,' Hagerty stated.
