Two years into the Trump administration, communities of color — and anyone using financial products, for that matter – are losing hope of finding an independent, dogged champion in Trump’s iteration of the Consumer Financial Protection Bureau. A brain-child of Senator Elizabeth Warren, CFPB was originally designed to protect consumers from fraudulent and abusive financial actors as a response to the 2008 financial crisis. In gutting the CFPB and corrupting its mission, the Trump Administration disregards struggling families, and how the crisis brought our economy to its knees.
FDR did a lot of good in creating Glass-Steggal------for the people and it also helped the nation. Sadly, Bill Clinton dissed Glass-Steggal and the rest is sad history---------since Trump wants to undo a lot of Obama’s work ( except for the war part) maybe we can convince him to undo some Clinton work too, and get Glass-Steggall back. I have a dream, that someday I WON’T be living in POTTERVILLE!
Just as Trump and the GOP cherry pick Obama actions, dumping the components that benefit the 99% while keeping the components that benefit the 1% at the expense of the 99%, they would cherry pick Bill Clinton’s actions. One of many examples: Obama’s Dodd-Frank’s bail-in provisions will never be repealed by corporate funded politicians of any party.
“Anyone using financial products” includes just about all Murkins…even those who use only currency.
Restore Postal Banking that the best Congress (that money can buy) did away with a half century ago.
The CFPB was nothing more then a blackmail scam set up to fleece corps and funnel the cash to far left wackos.
This was obvious in the unConstitutional set up as there was no Congressional oversight nor Congressional funding.
One more obvious tell was how the REgressives in Congress, especially Sen Warren, have been howling as President Trump seeks to rein in this out of control and totally unnecessary bureaucracy.