Shutting down the CFPB

[Anonymous]

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Anonymous wrote:My DH is a career banker and can’t stand the CFPB because of his job, but sees their value to the consumer. 2008 was horrible and if oversight saves the consumer and the economy from a similar experience, it’s worth it.

Finance guys realllly hate the CFPB. of course the same finance guys in September 2007 were happily telling everyone that home prices could only go up.

CFPB is GREAT for the actual citizens of this country. Not so much for business and folks trying to lie, trick, manipulate, and steal from citizens.

It is pretty amazing to actually declare yourself anti CFPB. The other side is literally…predatory lenders and loan sharks. Bigger commercial banks do get exasperated with the CFPB because they get (rightly) dinged every now and then but even they like the stability and certainty it provides. CFPB took on responsibility for dozens of consumer protection laws from other agencies. There is nothing to fill that void right now. It’s truly open season. And this affects everyone— anyone who has a credit card, a mortgage, loans— anything. People like to think of CFPB as focusing on frauds and scams (and maybe think they’re too smart to get scammed) but it also sets the rules for the entire financial market. This is tremendously unsettling for our economy as a whole.

CFPB is modern evidence of government working for the people. It is one of the best checks to come out of the Financial crisis.

Absolutely. And it’s tiny and takes NO appropriated money. It’s a model of true efficient government. Makes you wonder why they truly hate it so much. Hmmm.

Because this administration is made up of crooks, cheaters, conmen, and grifters.

Thanks to the justice system, CFPB lives another day!

Despite DOGE apparently keeping people up 36 hours straight to try to violate a court order. The hearing next week will be fun.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My DH is a career banker and can’t stand the CFPB because of his job, but sees their value to the consumer. 2008 was horrible and if oversight saves the consumer and the economy from a similar experience, it’s worth it.

Finance guys realllly hate the CFPB. of course the same finance guys in September 2007 were happily telling everyone that home prices could only go up.

CFPB is GREAT for the actual citizens of this country. Not so much for business and folks trying to lie, trick, manipulate, and steal from citizens.

It is pretty amazing to actually declare yourself anti CFPB. The other side is literally…predatory lenders and loan sharks. Bigger commercial banks do get exasperated with the CFPB because they get (rightly) dinged every now and then but even they like the stability and certainty it provides. CFPB took on responsibility for dozens of consumer protection laws from other agencies. There is nothing to fill that void right now. It’s truly open season. And this affects everyone— anyone who has a credit card, a mortgage, loans— anything. People like to think of CFPB as focusing on frauds and scams (and maybe think they’re too smart to get scammed) but it also sets the rules for the entire financial market. This is tremendously unsettling for our economy as a whole.

CFPB is modern evidence of government working for the people. It is one of the best checks to come out of the Financial crisis.

Absolutely. And it’s tiny and takes NO appropriated money. It’s a model of true efficient government. Makes you wonder why they truly hate it so much. Hmmm.

Because States already have Attorney Generals to do this work?

Nope, try again.

I do feel for you. It’s hard to defend your ridiculous position. You get some points for creativity, I guess. And you’re not fooling anyone except maybe yourself.

In an earlier thread I asked someone about the CFPB's greatest accomplishment, and someone linked a joint operation with a State AG. It was hilarious.

[Anonymous]

An interesting thing to come out of this is that a DOGE kid is being ordered to appear at the hearing next week based on a declaration that he was running the entire sloppy RIF.

This may be the first time DOGE has to speak on the record instead of lurking in the shadows.