The Consumer Financial Protection Bureau

[B.See]

As posted earlier herein

https://democraticunderground.com/100220723672

Trump, his arsonists and billionaire backed henchmen have plans on taking a sledgehammer to yet another government entity established for the benefit of Americans.

In only ten months, they've decimated (or have plans to decimate) Medicaid, Medicare, Obamacare, Social Security, SNAP benefits, FEMA, NOAA, the CDC, and other societal safeguards.

And now, the CFPB, under cover of the outright LIE that the bureau has done nothing for consumers.

On the contrary, here are some facts:

Consumer Financial Protection Bureau - Wikipedia

Since its founding, the agency has returned more than $21 billion to consumers who were defrauded by financial institutions. The agency has established or proposed rules to cap overdraft charges and credit card late fees; prohibit medical debt from credit reports; limit the ability of data brokers to sell personal data; and limit predatory payday loan practices. The agency is funded through penalties collected with its enforcement actions and through transfers from the Federal Reserve.

Throughout its existence, the CFPB has been persistently targeted by Republican politicians and the financial industry. The CFPB's status as an independent agency has been subject to many challenges in court. In June 2020, the United States Supreme Court ruled that the president can remove the director without cause but allowed the agency to remain in operation. In 2024, the Supreme Court affirmed the constitutionality of the CFPB funding mechanism prescribed by Congress. At the outset... Donald Trump appointed an acting director who immediately ordered the CFPB to stop regulatory activity, and sought to fire 90% of the agency's staff.

From its creation until 2017, the CFPB "has curtailed abusive debt collection practices, reformed mortgage lending, publicized and investigated hundreds of thousands of complaints from aggrieved customers of financial institutions, and extracted nearly $12 billion for 29 million consumers in refunds and canceled debts." That figure had risen to $19 billion by 2024. Claims may be filed by individual customers and address a variety of unfair business practices by companies, such as refusals to remove errant fees, or to provide compensation for damages.

But of course Trump and his gang of wealthy thugs couldn't give a rat's ass about consumers, the middle class, or the average American.

The 'greatness' they promised, a fraud. A factitious and facetious, sickly twisted, psychopathic LIE, serving as cover for cruelty and malice.

And it's A DISGRACE.

[Dave Id]

1. Trump will replace it with...

The Criminal Protection Bureau

[lastlib]

2. You're not finished....

"...serving as cover for cruelty and malice "

...and GREED.

Now it's finished. Great post!

[B.See]

4. Thanks. When I

republish it, I'll be sure to add that, it you don't mind.

[lastlib]

6. Fine and dandy!

back atcha!

[Danmel]

3. I work for the NYS Assembly

I've sent numerous constituents to the CFPB. This will create real harm.

[B.See]

5. Indeed it will. As does just about

EVERYTHING they do.