Consumer Financial Protection Bureau on the Chopping Block

Published on Author MCDC

The Consumer Financial Protection Bureau is a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly. Most recently, the CFPB ordered Wells Fargo to refund thousands of customers who were charged fees for unauthorized accounts.

In case there was any doubt about Elizabeth Warren’s feelings toward John Stumpf, the C.E.O. of Wells Fargo, it was cleared up during a hearing before the Senate Banking Committee. “Okay, so you haven’t resigned, you haven’t returned a single nickel of your personal earnings, you haven’t fired a single senior executive,” Warren said to Stumpf, during an interaction that might properly be characterized as a verbal evisceration. “Instead, evidently, your definition of ‘accountable’ is to push the blame to your low-level employees who don’t have the money for a fancy P.R. firm to defend themselves.”

Senator Warren warns that the CFPB may be among the early victims of a Republican administration. Social Security, Food Stamps and Health Care won’t be far behind.
 

U.S. Senator Elizabeth Warren – Timeline | Facebook

U.S. Senator Elizabeth Warren, Washington, District of Columbia. 1,760,271 likes · 36,458 talking about this. Official page of the office of U.S. Senator…