US House Financial Services Committee Chairman French Hill expressed deep dismay over midnight rulemakings by the Consumer Financial Protection Bureau (CFPB) during the Biden-Harris Administration. Last December, Hill and Senate Banking Chairman Tim Scott urged outgoing regulators to halt rulemakings, but instead saw a surge of reckless rulemaking under former CFPB Director Rohit Chopra. Rulemakings included cap fees on overdraft services and hiding medical debt from credit reports, which harm consumers and limit access to healthcare. The House passed a bill allowing for congressional oversight of executive rulemakings, and Hill committed to continuing work with the Trump Administration to reduce regulatory burdens, aiming to facilitate faster economic growth.
Source: https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409465