Last night, the White House cut nearly 90% of the employees at our consumer financial watchdog – which would have left almost no one to protect Americans from financial fraud or abuse. Fortunately, the U.S. District Court in the District of Columbia today halted the mass layoff of the Consumer Financial Protection Bureau’s (CFPB) workforce that was underway, but the rollercoaster of uncertainty means that the agency that stands up to big banks, credit card companies, and debt collectors is unable to do its job. “We’re relieved that the court has stepped in to stop this dangerous overreach,” said Amanda N. Jackson, Americans For Financial Reform’s consumer campaign director. “The attempted firing of 1,500 dedicated public servants was not only a threat to the livelihoods of workers, but to the millions of people who count on the CFPB to hold financial actors accountable. We thank the court for recognizing what the law and the public interest demand — that the CFPB must remain open, functioning, and fully staffed to fulfill its mandate to protect consumers.” There's been a temporary pause on this new round of firings, but when the dust settles there might be no one left to hold the financial industry accountable in the federal government. Consumers like you will quickly feel the effects of unfair, deceptive, and abusive practices by financial institutions. Thank you again for the work you’ve already done in supporting this important issue. With so many steps happening against the CFPB moving so quickly, we need your help again.
And after you've called, please share this tool with your network and motivate others to speak up. It will take our collective voices to ensure our consumer rights are protected! Thank you, Alan Smith | ||
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