A new rule by a federal watchdog—hailed as having "paramount importance" for protecting consumers from Wall Street predators and curbing corporate abuses—is under direct attack by Republicans just days after being issued.
Renewed cheers for the CFPB! and of course boos for the “sneaky” misrepresentatives.
Was this rule actually promulgated during the last 6 months of the Obama administration?
I am deeply grateful to Elizabeth’s activism on this. I sincerely hope she can make herself heard beyond all the right-wing clamor.
Republicans demonstrate the most profound abuse of the public trust imaginable. What a vile bunch. We need this rule.
The problem here is likely how Cotton and Crapo (is that name real?) define “consumer” – I suspect in their minds, it is they, as recipients of campaign contributions, as opposed to bank customers, who are perceived as being the “consumer” here.
As the de-regulation hysteria sweeps through the GOP and their actions one wonders how bad the coming financial crash will be. I say when, not if, because it’s coming and it will make the 07-08 meltdown pale in comparison. The vultures still have a bit of carrion with which to remove from normal citizenry which will leave vast swathes of destitute people with nothing left to support themselves. I hope there are semblances of regulations left to protect consumers with Warren and Sanders whom seem to have some spine to stand up against Wall Street. The new Supreme Court will work to disable class action lawsuits as Scalia and co. were wanting to do just that before his passing. Let’s hope reason prevails and consumers don’t get thrown under the bus as the GOP steamrolls over working folks.
This and the “gag rule” on settlements and the settlement/fine without admission of guilt, all need to rest in perdition where they belong
When the letter of the law violates the spirit of the law and contributes to hiding the illegal actions of a perpetrator,it is time for a change
Sure and begorra now just who would be thinkin that retired people need their life time savins more than some slease bag Wall Street hot operator? Not the corporate lackeys of the GOP and that’s fer sure.
“Consumers” is a perjorative term, a corporate-invented weasel, that has infested our civil discourse and needs “quotes” to designate this. Try, “buyers of goods and services”. No quotes necessary when using plain, uncoded, wording. Dog-whistle memes are corporate scams.
These GOP thugs who base their entire agenda on extreme power over your money and mine are out to do damage. Serious damage to our futures, our authority over our own lives and futures. One article that is discussing their THUG related behavior and why they do what they do:
I’m sure Common Dreams will have this published on their site soon, too, as we often see articles from the Bill Moyers and Company team on here. But I find it most profound that someone has actually shown us all why they think the way they do, why they want to CONTROL you and me. It is something all the nation needs to be more aware of. But many don’t want to “know” what their Party has been, is up to. Also investigate the ALEC and its web of orgs that seep into our cities and states rights. They have damaged us all too, in my opinion.
They all SERVE “Wall Street Predators”.
Veering off topic, but yes, ALEC is a very big problem. They’ve not only seeped into state government, they’ve flooded the legislatures with money to buy regressive and repressive legislation. The LE is for “legislative exchange,” because they carry bad ideas from one state to another. State legislators come much cheaper than federal ones, and they’re less visible to the press and therefore have fewer scruples.
There is absolutely no reason the consumer shouldn’t have the discretion to either submit to arbitration or go to court.