What Happens When the Consumer Bureau Fights for the Big Guys?
Trump policies cause clear, direct harm to consumers
The Consumer Financial Protection Bureau (CFPB) is supposed to stand up and fight for the little guy — the lone consumer in the financial marketplace who sometimes faces tricks and deception from fraudsters, scammers, and other bad actors.
But, under the Trump Administration, the CFPB is not only NOT fighting for the little guy, they are actively taking the side of the bad actors.
Specifically, the CFPB began the process of rescinding 67 specific measures covering areas including credit reporting, debt collection, predatory lending, and more.
Instead of striking a blow for fairness or leveling the playing field, the Trump team is giving help to the side that already has the upper hand. The tricksters are being told to keep on tricking people out of their hard-earned cash.
Sadly, the most vulnerable — older Americans and those with less financial resources and education — tend to be most likely to lose in a marketplace rigged in favor of Big Money.
