This only benefits fraudsters and cheaters
Dear John,
Last week, we found out that Trump and his allies want to cut 90% of the staff at the Consumer Financial Protection Bureau.
Trump’s goal is to make it impossible for the CFPB to fulfill its mission as a watchdog for consumers.
Congress created the agency in the aftermath of the 2008 financial crisis. The agency exists to advocate for consumers, fighting against scammers and cheaters. Since its creation, the CFPB has returned nearly $20 billion to Americans.
The CFPB isn’t just good for consumers, it protects businesses that play by the rules, by cracking down on bad actors. The only people who will benefit from gutting the CFPB are scammers and fraudsters—and the rest of us will get hurt.
As a commercial law professor, I sounded the alarm in the mid-2000s on the predatory practices that ultimately led to the foreclosure crisis. I remember what it was like before we had the CFPB looking out for us and for the stability of our economy.
We need our leaders to stand up for what everyday Americans need, not what their cronies want. On Friday, a judge paused the mass layoffs and scheduled a hearing for the end of this month. Right now, the fate of the CFPB lies in the hands of the courts and the Trump Administration.
Can you sign my petition to protect the CFPB from Trump and DOGE’s attacks?
Sign On
Onward,
Katie
