Rep. Byron Donalds (R-FL) will introduce legislation later this week that would abolish the Consumer Financial Protection Bureau, saying the agency has operated “outside the purview of Congress.”

Sen. Elizabeth Warren (D-MA) created the CFPB during the 2008 financial crisis. At the time, it purported to fight for “fairness and transparency for mortgages, credit cards, and other consumer financial products and services.” Donalds explained on Fox Business’s Mornings with Maria Bartiromo on Monday that it has far surpassed its original purpose.

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