Standing Up for Us
That’s the Consumer Financial Protection Bureau (CFPB). It has returned billions of dollars to consumers and now it is under attack from the big banks and special interests it regulates.
The Register Guard out of Oregon talks about the importance of protecting the CFPB:
Its work has ranged from providing consumer education tools to taking action against companies such as payday lenders and servicers of student loans. Its most notable action has been to levy $185 million in penalties and fines against Wells Fargo after its employees secretly opened millions of unauthorized accounts for its customers in order to meet sales goals, saddling unwitting customers with additional fees and charges.
The CFPB stands up for us — for working people who need someone on their side. Already, some in Congress are making moves to eliminate this consumer protection agency. Without it, millions of American consumers would suffer at the hands of large financial institutions with little available recourse.
For more on consumer protection, follow @TNCitizenAction