Today, Club for Growth President David McIntosh issued the following statement after the U.S. Senate voted to disapprove of a Consumer Financial Protection Bureau (CFPB) rule on indirect auto lending. At the request of Senator Toomey, the Government Accountability Office recently confirmed the Club’s position that the Obama-era interagency guidance is akin to formal rule-making authority. Club for Growth has long been a proponent of Congress aggressively using the Congressional Review Act to its full extent, including to repeal Obama-era interagency guidances. As a Congressman, Club for Growth President David McIntosh was the lead author of the CRA when it passed in 1996.
“Club for Growth applauds Senator Pat Toomey’s work to rein in the harmful legacy of the Obama Administration’s regulatory state,” stated Club for Growth President David McIntosh.
“Today’s Congressional Review Act vote of disapproval corrects an egregious overreaching by the CFPB in the area of auto-lending. This effort adds a significant notch to the deregulatory efforts of the Republican Congress and Trump Administration. Club for Growth urges the Senate and House to continue to bring up measures to roll back other onerous regulations and guidances that were so pervasive in the Obama Administration.”