UNDER CONSTRUCTION - MOVED TO MIDDLEBORO REVIEW 3 https://middlebororeviewandsoon.blogspot.com/
Wednesday, December 18, 2024
“Delete” the Consumer Financial Protection Bureau? PROTECT YOURSELF WITH FACTS! It's time to THINK!
BEYOND MAGA LIES, IT'S TIME TO THINK IN ORDER TO PROTECT YOURSELF!
There are several houses we pass in the evenings that have FOX NEWS = FAKE NEWS LIARS on their WIDESCREENS....PRE-DIGESTED MANURE is not INFORMATION!
SENATOR ELIZABETH WARREN ORIGINATED CFPB & REPUBLICANS, WEALTHY INTERESTS, SCOFFLAWS & PREDATORY CORPORATIONS HAVE WORKED TO UNDERFUND, OVERTURN & ELIMINATE CFPB....
IT'S THE ONLY GOVERNMENT AGENCY CHARGED WITH PROTECTING
BANKS ARE PROFITING BEYOND THEIR COSTS WITH HIGH FEES FOR OVERDRAFTS...THIS SHOULD NOT BE A REVENUE GENERATOR!
CFPB announces rule limiting bank overdraft fees; trade group sues in response
excerpt:
While overdraft fees have been a lucrative line item for the industry, generating $280 billion in revenue since 2000 according to the CFPB, banks’ revenue from the service has been on the decline. That’s because lenders including JPMorgan Chase and Bank of America have either reduced the fees or limited the types of transactions that trigger them, while some banks dropped the fee altogether.
The CFPB rule applies to banks and credit unions with at least $10 billion in assets.
The effort, part of a flurry of activity from the CFPB in the waning days of the Biden administration, faces stiff opposition from U.S. banking groups that have successfully stymied other efforts from the regulator. For instance, a rule capping credit card late fees at $8 per incident that was set to take effect in May has been held up in federal court.
The CFPB said its overdraft rule will take effect Oct. 1, 2025, though the rule’s ultimate fate is unclear.
BRAIN DEAD ELON MUSK WHO HAS NO IDEA HOW GOVERNMENT WORKS, WHAT GOVERNMENT DOES...HIS $$$ CAME FROM APARTHEID SOUTH AFRICA, EXPLOITATION OF WORKERS!
IT SEEMS THAT ELON MUSK IS A NATURALIZED CITIZEN WHO VIOLATED HIS CITIZENSHIP APPLICATION BY WORKING BEFORE BECOMING A CITIZEN....DO YOUR RESEARCH!
ELON MUSK HAS SECURITY CLEARANCE & COMMUICATES REGULARLY WITH PUTIN....
ANYONE THINK THAT IS DEFENSIBLE?
‘Delete CFPB’: Musk calls for elimination of consumer bureau
Republicans and the financial industry have long targeted the CFPB for what they consider its overly aggressive regulation.
IN OTHER WORDS, ELON MUSK WORKED ILLEGALLY IN THE U.S. PRIOR TO BECOMING A
CITIZEN....DIDN'T HE?
READ THE BOOK REVIEW!
Elon Musk became a US citizen in 2002, contrary to viral post | Fact check
Musk moved again in 1995, this time to Palo Alto, California, where he planned to start a graduate program at Stanford University. However, Musk never enrolled and instead decided to focus on a tech start-up, according to CNN, which cited Walter Isaacson’s 2023 biography of Musk.
In 2002, Musk officially became a U.S. citizen. He took the citizenship oath with a few thousand other immigrants at the Pomona Fairplex, also the site of the Los Angeles County Fair, according to a 2012 profile in Esquire.
I’ll give you three guesses as to why some billionaires and Republican politicians are trying to “delete” the Consumer Financial Protection Bureau (CFPB).
But I bet you’d get it on your first try: Because the CFPB is working to unrig our economy so it doesn’t just work for billionaires.
If you’ve got a checking account, a credit card, a mortgage, or a student loan, the CFPB is looking out for you to keep you from getting cheated. And this Little Agency That Could has a rock-solid record of success, including…
Taking on the types of shady lenders that were tricking and trapping people with complicated mortgages and eventually crashed our economy in 2008 — costing millions of people their homes
Stopping Wells Fargo from unlawfully repossessing people’s cars after the bank had piled on fees that consumers didn’t owe or charged them the wrong interest rate
Tackling aggressive junk fees that make price comparisons impossible
Beating back predators that tricked service members and veterans into paying interest rates that surged up to 200 percent on pawn loans
Pushing back when some medical debt collector companies were double billing patients or even charging patients for services they never received
All in all, putting around $20 billion back in the pockets of people who got cheated by financial institutions
Now, why would a politician like Donald Trump, who ran for president promising change — promising to make government work better for working people — want to let some billionaires get rid of the CFPB?
He pledged to cap credit card interest rates at 10 percent — it will take a strong CFPB to make that happen. He promised to rein in the influence of Big Tech — the CFPB is tackling that right now. He promised to fight for working people — the mission the CFPB delivers on every day.
Soon, he’ll be deciding on a director for the CFPB. We’ll see if he stands up to giant corporations to help the workers who voted for him or if he cowers to corporate billionaires. And if he breaks his promises, I’m determined to hold him accountable.
The years ahead will be filled with chances to fight for working people — including by defending the CFPB. I’m in that fight all the way.
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