Hidden within a single line of a statistical table in President Trump's 2019 budget is one of the most drastic reform proposals offered up in years. While all the focus has been on infrastructure and military spending, page 140 of the FY19 budget casually outlines the potential quashing of the Consumer Financial Protection Bureau, one of the most controversial government agencies.
Under the proposal, the CFPB would be put under congressional appropriations and then have its funding ratcheted down over the next few years. By fiscal year 2022, Trump's budget estimates a savings of $672 million from the bureau — more than the CFPB's entire budget for this year.
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