---
title: "Meaning & Key Takeaway of: The biggest issue I have with the CFPB is…"
description: "\"The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.\" — Steve Mnuchin"
image: "https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg"
---

#  The biggest issue I have with the CFPB is that I don't…

![“The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.” quote by Steve Mnuchin](https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg)   [Download](https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg) [Open image](https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg)

> “The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.”

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

## About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

He argues that the CFPB should not be financed by Federal Reserve profits, seeing it as inappropriate use of central bank earnings.

**In simple terms:** CFPB funding should not come from Fed profits.

Key Takeaway

Advocate for independent funding sources.

Themes

finance government regulation

Mood

skeptical concerned

Type

political policy

When to use this quote

- policy debate
- legislative hearings
- budget planning

Key Concepts

public policy budgetary ethics

Questions to Reflect On

- Should CFPB be funded through the Treasury?
- What are alternatives to Fed profit funding?

A Different Perspective

Funding from Fed profits may compromise central bank independence.

★ ★ ★ ★ ★   No ratings yet

[Customer](https://sms4smile.com/quotes/about/customer/) [Federal reserve](https://sms4smile.com/quotes/about/federal-reserve/)

## Related quotes

> [The Federal Reserve is not currently forecasting a recession.](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-is-not-currently-forecasting-a-recession/)

[Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/)

> [The Federal Reserve is no more federal than Federal Express.](https://sms4smile.com/quotes/michael-ruppert/the-federal-reserve-is-no-more-federal-than-federal-express/)

[Michael Ruppert](https://sms4smile.com/quotes/author/michael-ruppert/)

> [“The Federal Reserve was created after a 1913 meeting in Jekyll Island, Ga that was so secret it wasn’t discovered until Orafoura began cleaning…](https://sms4smile.com/quotes/jarod-kintz/the-federal-reserve-was-created-after-a-1913-meeting-in-jekyll-island/)

[Jarod Kintz](https://sms4smile.com/quotes/author/jarod-kintz/)

> [I think the role of the Federal Reserve is enormously exaggerated.](https://sms4smile.com/quotes/john-kenneth-galbraith/i-think-the-role-of-the-federal-reserve-is-enormously-exaggerated/)

[John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/)

> [The Federal Reserve is answerable to no one.](https://sms4smile.com/quotes/ronald-reagan/the-federal-reserve-is-answerable-to-no-one/)

[Ronald Reagan](https://sms4smile.com/quotes/author/ronald-reagan/)

> [If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.](https://sms4smile.com/quotes/elizabeth-warren/if-federal-reserve-loans-are-subsidies-it-doesn-t-show-up-in-the/)

[Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/)

> [There is no entity in the world that controls our lives more than the Federal Reserve System](https://sms4smile.com/quotes/harry-reid/there-is-no-entity-in-the-world-that-controls-our-lives-more-than-the/)

[Harry Reid](https://sms4smile.com/quotes/author/harry-reid/)

> [The Federal Reserve - all of them - could be sitting on a barrel of dynamite, and then pouring gasoline on top of it,…](https://sms4smile.com/quotes/marc-faber/the-federal-reserve-all-of-them-could-be-sitting-on-a-barrel-of/)

[Marc Faber](https://sms4smile.com/quotes/author/marc-faber/)

> [There are congressmen in our congregation, judges, federal reserve governors. And there are also people who are homeless and some who are mentally ill.…](https://sms4smile.com/quotes/james-green-somerville/there-are-congressmen-in-our-congregation-judges-federal-reserve/)

[James Green Somerville](https://sms4smile.com/quotes/author/james-green-somerville/)

> [The Federal Reserve, the Treasury, all the regulator agencies - if there's a problem of the financial mechanism in society, the only one to…](https://sms4smile.com/quotes/dick-cheney/the-federal-reserve-the-treasury-all-the-regulator-agencies-if-there/)

[Dick Cheney](https://sms4smile.com/quotes/author/dick-cheney/)

> [The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the…](https://sms4smile.com/quotes/glenn-hubbard/the-obama-administration-s-attempted-short-term-fixes-even-with/)

[Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/)

> [The Federal Reserve will not monetize the debt.](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-will-not-monetize-the-debt/)

[Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/)

> [I believe that the market is slowly waking up to the fact that the Federal Reserve is a clueless organization. They have no idea…](https://sms4smile.com/quotes/marc-faber/i-believe-that-the-market-is-slowly-waking-up-to-the-fact-that-the/)

[Marc Faber](https://sms4smile.com/quotes/author/marc-faber/)

> [In the past, Federal Reserve chairmen have not generally gone directly to the public.](https://sms4smile.com/quotes/ben-bernanke/in-the-past-federal-reserve-chairmen-have-not-generally-gone-directly/)

[Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/)

> [In 2005, attorneys general of 35 states urged the Federal Reserve to end the unsigned check system.](https://sms4smile.com/quotes/charles-duhigg/in-2005-attorneys-general-of-35-states-urged-the-federal-reserve-to/)

[Charles Duhigg](https://sms4smile.com/quotes/author/charles-duhigg/)

## More by Steve Mnuchin

> [I earnestly feel terrible for any mistakes at the bank.](https://sms4smile.com/quotes/steve-mnuchin/i-earnestly-feel-terrible-for-any-mistakes-at-the-bank/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [My No. 1 priority is growth in the economy. Tax reform will be our first and most important part of that.](https://sms4smile.com/quotes/steve-mnuchin/my-no-1-priority-is-growth-in-the-economy-tax-reform-will-be-our/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [I have been maligned as taking advantage of others' hardship in order to make a buck. Nothing could be further from the truth.](https://sms4smile.com/quotes/steve-mnuchin/i-have-been-maligned-as-taking-advantage-of-others-hardship-in-order/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [As treasury secretary, I don't see it as my role commenting on the dollar in short-term movements.](https://sms4smile.com/quotes/steve-mnuchin/as-treasury-secretary-i-don-t-see-it-as-my-role-commenting-on-the/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [I have very good friends on Wall Street.](https://sms4smile.com/quotes/steve-mnuchin/i-have-very-good-friends-on-wall-street/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [Proprietary trading does not belong in banks with FDIC insurance.](https://sms4smile.com/quotes/steve-mnuchin/proprietary-trading-does-not-belong-in-banks-with-fdic-insurance/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [We've been in the business of regional banking, and we understand what it is to make loans, and that's the engine of growth to…](https://sms4smile.com/quotes/steve-mnuchin/we-ve-been-in-the-business-of-regional-banking-and-we-understand-what/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [I've had several different careers.](https://sms4smile.com/quotes/steve-mnuchin/i-ve-had-several-different-careers/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [Look, there is no question the Hollywood crowd predominantly supports Democrats. But within Los Angeles, there's a big community, and there's a large community…](https://sms4smile.com/quotes/steve-mnuchin/look-there-is-no-question-the-hollywood-crowd-predominantly-supports/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [I have given to Democrats in the past. I've always believed in supporting the best candidate at the time.](https://sms4smile.com/quotes/steve-mnuchin/i-have-given-to-democrats-in-the-past-i-ve-always-believed-in/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [I don't support going back to Glass-Steagall as is.](https://sms4smile.com/quotes/steve-mnuchin/i-don-t-support-going-back-to-glass-steagall-as-is/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [Our most important priority is sustained economic growth, and I think we can absolutely get to sustained 3% to 4% GDP, and that is…](https://sms4smile.com/quotes/steve-mnuchin/our-most-important-priority-is-sustained-economic-growth-and-i-think/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [Trump has a pro-economic-growth tax plan, and we are sensitive to the cost of that plan.](https://sms4smile.com/quotes/steve-mnuchin/trump-has-a-pro-economic-growth-tax-plan-and-we-are-sensitive-to-the/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [Any time I hear 'border adjustment,' I don't love it. Because usually it means we're going to get adjusted into a bad deal.](https://sms4smile.com/quotes/steve-mnuchin/any-time-i-hear-border-adjustment-i-don-t-love-it-because-usually-it/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

> [The way to reduce the debt is by economic growth.](https://sms4smile.com/quotes/steve-mnuchin/the-way-to-reduce-the-debt-is-by-economic-growth/)

[Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/)

[Explore all 70 Steve Mnuchin quotes ](https://sms4smile.com/quotes/author/steve-mnuchin/)

## More Believe quotes

> [I actually think acting is a form of self-hypnosis. You have to be hyper, hyper aware of what's going on around you. You have…](https://sms4smile.com/quotes/julianne-moore/i-actually-think-acting-is-a-form-of-self-hypnosis-you-have-to-be/)

[Julianne Moore](https://sms4smile.com/quotes/author/julianne-moore/)

> [Some people still believe you should just fall in line with what's going on - and that's scary. It makes a mockery of freedom…](https://sms4smile.com/quotes/emily-robison/some-people-still-believe-you-should-just-fall-in-line-with-what-s/)

[Emily Robison](https://sms4smile.com/quotes/author/emily-robison/)

> [The truth seems to be that propaganda on its own cannot force its way into unwilling minds; neither can it inculcate something wholly new;…](https://sms4smile.com/quotes/eric-hoffer/the-truth-seems-to-be-that-propaganda-on-its-own-cannot-force-its-way/)

[Eric Hoffer](https://sms4smile.com/quotes/author/eric-hoffer/)

> [Resist discouragement by speaking His Word over your future. Keep standing. Keep hoping; keep believing because He is working behind the scenes. He's going…](https://sms4smile.com/quotes/joel-osteen/resist-discouragement-by-speaking-his-word-over-your-future-keep/)

[Joel Osteen](https://sms4smile.com/quotes/author/joel-osteen/)

> [I can't believe that I'm sitting in meetings with Steven Spielberg, Tom Hanks, and Annette Bening. I want to take on that responsibility to…](https://sms4smile.com/quotes/roger-ross-williams/i-can-t-believe-that-i-m-sitting-in-meetings-with-steven-spielberg/)

[Roger Ross Williams](https://sms4smile.com/quotes/author/roger-ross-williams/)

> [There is no such word as item girl in the dictionary. People have created this word and I don't believe that I am an…](https://sms4smile.com/quotes/shefali-zariwala/there-is-no-such-word-as-item-girl-in-the-dictionary-people-have/)

[Shefali Zariwala](https://sms4smile.com/quotes/author/shefali-zariwala/)

> [I understand that it's the music that keeps me alive... That's my lifeblood. And to give that up for, like, the TV, the cars,…](https://sms4smile.com/quotes/bruce-springsteen/i-understand-that-it-s-the-music-that-keeps-me-alive-that-s-my/)

[Bruce Springsteen](https://sms4smile.com/quotes/author/bruce-springsteen/)

> [I don't really like too much credit. I know nobody's going to believe this, but I'd rather be able to score goals and nobody…](https://sms4smile.com/quotes/bradley-wright-phillips/i-don-t-really-like-too-much-credit-i-know-nobody-s-going-to-believe/)

[Bradley Wright-Phillips](https://sms4smile.com/quotes/author/bradley-wright-phillips/)

> [“What I have a problem with is not so much religion or god, but faith. When you say you believe something in your heart…](https://sms4smile.com/quotes/penn-jillette/what-i-have-a-problem-with-is-not-so-much-religion-or-god-but-faith/)

[Penn Jillette](https://sms4smile.com/quotes/author/penn-jillette/)

> [Bush reiterated his stand to conservatives opposing his decision on stem cell research. He said today he believes life begins at conception and ends…](https://sms4smile.com/quotes/jay-leno/bush-reiterated-his-stand-to-conservatives-opposing-his-decision-on/)

[Jay Leno](https://sms4smile.com/quotes/author/jay-leno/)

> [Never underestimate the power of the human mind to believe what it wants to believe, no matter the conflicting evidence.](https://sms4smile.com/quotes/brian-herbert/never-underestimate-the-power-of-the-human-mind-to-believe-what-it/)

[Brian Herbert](https://sms4smile.com/quotes/author/brian-herbert/)

> [To believe in love, to be ready to give up anything for it, to be willing to risk your life for it, is the…](https://sms4smile.com/quotes/leonardo-dicaprio/to-believe-in-love-to-be-ready-to-give-up-anything-for-it-to-be/)

[Leonardo DiCaprio](https://sms4smile.com/quotes/author/leonardo-dicaprio/)

> [That's why I don't generally talk about endorsements because I don't believe we have to tell people who to vote for.](https://sms4smile.com/quotes/martin-luther-king-iii/that-s-why-i-don-t-generally-talk-about-endorsements-because-i-don-t/)

[Martin Luther King III](https://sms4smile.com/quotes/author/martin-luther-king-iii/)

> [Mankind have been slow to believe that order reigns in the universe-that the world is a cosmos and a chaos.](https://sms4smile.com/quotes/james-a-garfield/mankind-have-been-slow-to-believe-that-order-reigns-in-the-universe/)

[James A. Garfield](https://sms4smile.com/quotes/author/james-a-garfield/)

> [We instantly believe everything we think. Isn't that insane? It's good for us to explore the depravity of our minds, so we know we…](https://sms4smile.com/quotes/krishna-das/we-instantly-believe-everything-we-think-isn-t-that-insane-it-s-good/)

[Krishna Das](https://sms4smile.com/quotes/author/krishna-das/)

Browse all 47,704 Believe quotes

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "Quotation",
            "text": "The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.",
            "creator": {
                "@type": "Person",
                "name": "Steve Mnuchin"
            },
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "url": "https://sms4smile.com/quotes/steve-mnuchin/the-biggest-issue-i-have-with-the-cfpb-is-that-i-don-t-believe-that/",
            "about": {
                "@type": "Thing",
                "name": "Believe"
            },
            "@id": "https://sms4smile.com/quotes/steve-mnuchin/the-biggest-issue-i-have-with-the-cfpb-is-that-i-don-t-believe-that/#quotation",
            "image": {
                "@type": "ImageObject",
                "@id": "https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg",
                "contentUrl": "https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg",
                "url": "https://sms4smile.com/quotes/i/3b6/steve-mnuchin-9731_believe_the-biggest-issue-i-have-with-the-cfpb-i_2306651.jpg",
                "width": 1080,
                "height": 1080,
                "caption": "“The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits…” — Steve Mnuchin",
                "creditText": "SMS4Smile Quotes",
                "creator": {
                    "@id": "https://sms4smile.com/quotes/#organization"
                }
            }
        },
        {
            "@type": "BreadcrumbList",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Steve Mnuchin",
                    "item": "https://sms4smile.com/quotes/author/steve-mnuchin/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "The biggest issue I have with...",
                    "item": "https://sms4smile.com/quotes/steve-mnuchin/the-biggest-issue-i-have-with-the-cfpb-is-that-i-don-t-believe-that/"
                }
            ],
            "@id": "https://sms4smile.com/quotes/steve-mnuchin/the-biggest-issue-i-have-with-the-cfpb-is-that-i-don-t-believe-that/#breadcrumb"
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```
