Since Trump is shuttering the Consumer Financial Protection Board (CFPB), who are Americans expected to turn to when getting screwed by big banks?

[Anonymous]

https://www.msn.com/en-us/money/other/the-trump-administration-has-stopped-consumer-financial-protection-work-here-s-what-the-cfpb-does/ar-AA1yMkJp

[loveslongnails]

No one. That's the idea. No consumer protections, no Health and Safety Protections at work either because he wants to close OSHA. He will also close down the FDIC and NCUA insurance for your money in banks and credit unions.

OK maga's... try really, REALLY hard and ask yourselves ---------- why is the fuhrer taking away ALL consumer protection agencies? WHY? Hmm... maybe so you'll be at the mercy of corporations even more than before, and so corporations and banks can NOT be held liable for ANYTHING.

Yes, this is what you voted for. It's not hyperbole, it's not the "unhinged liberal left" going crazy, it's happening to everyone.

To all the women who voted for him, the SAVE Act has been reintroduced in Congress with the full intent of making it more difficult for married women who changed their last names, to vote. You'll have to produce documentation showing your maiden name, then a marriage certificate showing you changed it, and that's just the beginning. The end goal is to eliminate your right to vote at all and repeal the 19th amendment.

Are ya' feeling GREAT AGAIN yet?

[Notherndude84]

America won’t need consumer protection laws when Trump installs himself as the first dictator.

[Ariesman81]

Not saying you're wrong in his behavior. But it is exactly what's needed right now to clear the corruption. Socialism was allowed for far to long. It will take a dictatorship to undo it.

[Notherndude84]

That’s not a good solution

[Ariesman81]

It's necessary though

[Notherndude84]

Are you really suggesting that America should install Trump as a dictator?

Do you not understand how hard America fought to be independent from its last dictator?

[Ariesman81]

No. We should not. But his behavior as a dictator is needed to dismantle the corruption that's been allowed. We also fought for freedom of taxation. And we have a government that has done nothing but promote taxation. So yes, if Trump acting like a dictator gets us back closer to the fundamentals of the constitution, I think his behavior as a dictator is justified. Accountability for all is what he's preaching. And I will follow that cause.

[monorprise]

@notherndude84 What is with people of leftwing believes that motivate them to make such extremely ubsurd predictions.

Trump after Biden is the oldest man ever to assume the office of presidency, the odds of him living to the end of his existing term are not favorable.

[dustybiker2]

@notherndude84 True

[Asker]

@Ariesman81 Amazing how so many Americans are willing to just throw democracy into the dumpster and think it's a good thing. Adolph Hitler? Stalin?

[loveslongnails]

@Ariesman81 LOL The concept that Trump or Musk are "clearing out corruption" is so laughable I just have to cry. Scump is one of THE most corrupt individuals on the planet; a lifelong scammer and con man who lies every moment he speaks and doesn't pay his bills.

Every person, agency or investigatory body involving Musk's companies has been fired or disbanded, clearing the way for him to make BILLIONS in government contracts. Get your terminology straight, maga's:

* fixing wasteful government spending due to corruption voted into Law by ALL of Congress over the past 50 years is a good thing, but pretending that Scump and Musk are the ones to do it is a complete joke and embarrassment. Neither can be trusted in ANY way, shape or form.
* replacing unnecessary spending of millions tax dollars is good, BUT CUTTING NECESSARY PROGRAMS that people depend on for survival is insane when you turn around and give a Multi-Billionaire billions more in guaranteed contracts, with zero oversight. THAT too is corruption.

Please don't talk about socialism when you have no idea what you're talking about.

[Ariesman81]

@loveslongnails Trump and Musk are the most capable individuals to get the job done because they understand how the system works. No man is infallible of the possibility of corruption. But they are shining light on the problems. And frankly, I don't care about behavior so long as I agree with the results. Smaller government, less beaurocracy and more accountability. We just disagree on what's necessary and what isn't.

[Friendlybro79]

@Ariesman81 ugh what a dolt

[loveslongnails]

@Ariesman81 Socialism? Ok, let's start with the easiest, dumbed-down definition of Socialism that even a 6th grader (usually) could understand, though you're pushing it.
" an economic and or political system advocating a collective or governmental ownership and administration of the means of production and distribution of goods". Marxism advocated that "the people" owned the means of production. In any case, that's NOT what is going on in the USA. LOL Private companies and corporations own 99% of the "means of production", with state or municipalities owning some energy production as the exceptions. America has NEVER been a socialist country; strictly capitalist from its inception.

Therefore, what you MUST mean are "social programs", and the word "social" has confused you. You must be referring to programs to help the poor, and single moms with deadbeat dads, and the CHIPS program, and the various other life saving programs that sustain those who are TRULY in need? Programs paid for by taxpayers. You mean "social programs", not " social-ism".

The "biggest Social Program" is actually Social Security, which is basically " a Ponzi scheme that works!" But only you and your employer pay into that; it's NOT part of the budget. However, Congress has "borrowed" from that fund and NOT re-paid it, while telling you it's going to go broke. It's not.

[Ariesman81]

@loveslongnails It's ok. I was naive once too. What we had experienced for quite sometime is government overreach into the private sector. Government manipulating the free market through subsidies and regulations. In essence, taking control of a market that ought to be free. That is the definition of Socialism. An expanding government creates bureaucracy... bureaucracy creates socialism.

[OneViewpoint]

Just bend over and lube up. The whole point is that 330 million people will have no one to turn to. We are headed into a feudal society similar to medieval England and Europe. Aristocracy and serfs with no power to change their lot other than armed rebellion.

[monorprise]

@OneViewpoint We have State and Federal courts that deal with contract disputes and thief in an actually equable way addressing the concerns of the parties involved.

CFPB is entirely unnecessarily power grab by federal politicians to enrich themselfs. They never were required to actually protect anyone.

[WindAtMyBack]

It's a new agency that combined the duties of several other agencies. Government agencies and departments are constantly combining and splitting. That happens under every administration. Their duties are also farmed out to the private sector and then brought back into the government. This is the normal course of things. There are always pros and cons for both sides.

Just which big bank do you think you are getting screwed by, and what did they do?

[exitseven]

The CFPB was founded in 2011 by Senator Elizabeth (Fake Indian) Warren. She claims that they have collected 21 billion dollars from mainly financial institutions. What she does not disclose is what the annual payroll is.

The CFPB has been able to reduce overdraft protection fees to make it seem like the actually do something. How many bounced checks do people have? The CFPB knows that this is a non issue and the banks played along.

[dustybiker2]

To me it sounds like a childish payback tactic. My guess is they've done something to directly affect trump in the past.

[exitseven]

@dustybiker2 No, it is just another government agency loaded with waste and corruption. I actually applied for a job there when it first started. You would not believe the salaries that people were getting. Naturally i did not get hired even though I was very qualified. I do not know any democrat politicians. However the wife of Gen, Petraeus was hired for a job with not much responsibility but a great big paycheck, This was over 10 years ago. I do not know if she is still there.

[dustybiker2]

I step back for the bigger picture.

[exitseven]

@dustybiker2 Yes, look at the bigger picture. Elizabeth Warren makes $178,000 and is a multi millionaire. I made almost that much and I am a notorious cheapskate. and I am not a millionaire. Whats wrong with this picture. >?

[dustybiker2]

That is all they found? Send in someone unqualified and an immigrant, and recently a "dem" which you declared loudly last year, before the inauguration... and Warren is the Antichrist. She fits right into Washington. Except she wasn't found guilty on multi accounts in a court of law. Who's the criminal here?

[DryGermanGuy]

@dustybiker2
Apparently Musk plans to turn the struggling Twitter into some sort of unregulated financial data leech and the CFPB stands in his way. Watch the Elizabeth Warren interview from Brian Tyler Cohen in the video I just posted.

[dustybiker2]

@DryGermanGuy 👍🏻

[exitseven]

@dustybiker2 Elizabeth Warren was shown to be a fake and a liar. Still, the morons in this state voted for her anyway. No wonder the state is about to go into receivership and the governor will be arrested. The whole state is run by democrats.

[loveslongnails]

Please don't talk about "fake" Senators, or fake anything, when you had guys like George Santos & Matt Gaetz on your team, as well as convicted "fake electors" forging documents and trying to overthrow an election. Let's NOT FORGET your fuhrer's $25 million out of court settlement for his FRAUDULENT "Trump University". You like to forget those things.

Like any government organization under ANY Presidency, Repub or Dem, there are issues of racism, nepotism, incompetence, lack of production and over spending. They are not perfect by any means. Still, they have indeed recovered millions, if not billions, in fraudulent bank practices, telemarketing frauds, debt relief services, mortgage scams, and health care scams.

Shuttering an agency like that leaves every consumer at the mercy of every corporation, municipality, or private contractor. You and your culties seem to think "hey, it's a GOOD thing to let businesses do whatever the F they want with impunity, just like you think your fuhrer should be allowed to.

Once again, as is your M. O., you strain at a gnat and swallow the camel.

[exitseven]

@loveslongnails shuttering an agency that lined the pockets of democrat insiders at taxpayer expense is more like it. I cannot find what the annual budget of the CFPB is. Why do you think that is? The biggest accomplishment after 15 years is to have overdraft fees lowered? What a joke.

[dustybiker2]

@exitseven Watch @DryGermanGuy 's video through. It's 14 min. Tell me how fake that sounds. Then watch it play out in reality.

[loveslongnails]

No, that's the only one you acknowledge because, as I've pointed out before, you don't know how to read a chart, graph or report. And you certainly don't know how to discern fact from fiction, because if you did, you'd not spread the misinformation that you constantly do under the guise of a researched opinion. Learn to Google competently. Since you mentioned joke...

[Anonymous]

This is false.

The agency was closed due to woke practices such as ordering banks to not consider whether a person was in the U. S. legally when lending money. That does not protect U. S. consumers in any way. It makes banks unsafe because they could collapse if millions of illegals suddenly didn't pay their debts, leaving U. S. taxpayers on the hook similar to the subprime mortgage crisis of the mid-2000s.

[DryGermanGuy]

It seems so far the institutional firewalls are holding:

https://www.youtube.com/embed/dQgbte6EFKI

[dustybiker2]

There is always a reason to their moves

[GAGsucksballs89170]

DOGE. That's what muskrat wants. He wants CRYPTO to be the new thing

FUCK HIM, AND TRUMP

[dustybiker2]

Oh, fun. This one will likely screw himself back one day... 😏

[monorprise]

Don't assume we will care if some idiot decides to gamble away his money. @dustybiker2

The goverment doesn't exist to protect people from themselfs but from others. The Stock market is gambling whether you like it or not.

[emeraldsaphire]

I mean the whole reason the banks can screw you is because of the Feds. To think the CFPB is gonna help people at all is incredibly naive. If you really want to protect consumers you'd deregulate the banks.

[Asker]

Right! Just let them do whatever they want! That's the answer!

[emeraldsaphire]

What's wrong with that? I don't understand where this phobia comes from. Meanwhile no one cares that the state murders people every day, but if BOA wants to raise their interest rates or add additional fees... That's evil!

Realistically the bigger banks already do what ever they want. Who do you think runs the regulatory agencies? Who writes the laws? Newsflash it's the banks. Regulations are for small banks not the big banks. The way it works right now is that the big banks can do what ever they want and if they do something stupid and they loose money, well the fed will bail them out 2008 style, or if a new bank offers a better deal the feds will either shut down the new bank or make the better deal illegal.

[Asker]

The phobia comes from the thousands who have been FUCKED by Big Banks! Are you kidding me? Do you study US history? Do you know what happened during the Depression and the collapse in 2007/2008? Our tax dollars bailed those greedy fuckers out... and we were told to kiss their asses!

[emeraldsaphire]

Both of the things you have mentioned were caused by government, not the banks. ACORN (A US backed NGO) started saying the banks were discriminating against African Americans because they were getting loans at lower rates then white people. So Freddiemac started to say that they would pay for the loans that were given out if the loan buyer couldn't pay. So the banks started to give loans to people who couldn't afford them. This caused the housing bubble that collapsed in 2008 the same year the boomers started to collect social security. There would have been no 2008 bail out if it wasn't for the incestuous relationship between the banks and your holy government.

[Asker]

Wrong again! You seem to erroneously believe that wealthy capitalists have your interests first and foremost in their minds. They don't give a flying FUCK about you or me... unless you are independently wealthy and are a member of the same golf clubs that Trump and Musk are members of. Did you get that complete write off for your private jet? I didn't either!

[emeraldsaphire]

Good grief we are all capitalists. Who said Bank CEOs care about us? Do you care about them? Probably not. So why should they care about you. Do you think the state cares about you? It doesn't matter if the bank cares about me. The bank has one job. Hold my money. I have two banks and I've never had any problems with them. I expect them to keep my money safe and they do that. When I got a car loan I expected the bank to give me money, and they did. Then I paid them back. It was a good arrangement. Did the bank care that I like my car? Not at all. And I don't care if the CEO got a bonus or not. That's how it works, we trade. Each person pursues their own self interests. There are no angels. Sure sometimes you will get scammed. Sadly because of the incestuous relationship between the state and commerce companies often get away with stuff. Look at Johnson and Johnson. They told women to use there talcum powder for years, and it gave tons of women ovarian cancer. I lost my aunt because of that. I hate J&J, so you know what. I've not bought a J&J product in years, and probably never will again. I have the power to disassociate from them. If J&J puts lead in the ziplock bags then me and my family are safe. With the state I can't do that. They can commit genocide, rape people, experiment on people with out their consent. And you can't do anything.

But yes please complain about how evil McDonald's is because they don't pay their staff as much as you think they should

[RingOfFire]

...

[andreasderjuengere]

Turn to people who reside in Thailand, instead :D

[seeyounexttuesday]

Ironically the creation of the CFPB has only made banks bigger.

[lightbulb27]

Dont know its a fair question. State ag?

[Asker]

The problem is that consumer protections aren't consistent from one state to the next.

[lightbulb27]

Yea. Its an issue w risks and probabilities. Do ya shift business more local… and vet your businesses more carefully? It sucks to cut back spending… but that is required in the view of many

[Asker]

The big banks have always been given a pass to do things that most of us could never get away with.

[lightbulb27]

Yes, its sign well have another mess cause when they screw up we bail them out. Need really good regulstion kn banks and we dont have. Ugh

[monorprise]

Why is inconsistency a problem?

People in my state find the levels of "consumer protections" already required by people in California or even New York offensive and repressive.

freedom or at least inconsistency in this domestic sphere is the whole point of the Federal Constitution.

Don't you agree @lightbulb27

I can't imagine why the asker would even think we would ever agree on such issue, when we don't on almost any other?

[lightbulb27]

@monorprise humm... not positive on the "equalness" across states in this regard. I'll defer.
is true that protections needed in missouri may vary from those of nyc. Maybe there is some base level. The other issue is when there are different rules in every state, it makes a mess for corporations. I worked in banking and to get licenses to transmit $ in every state was an expensive mess... an example where federal consistent rule likely lower cost.

[monorprise]

@lightbulb27
Any time you scale up the domain of a set of rules you allow a simple set of operating procedures based upon said rules to similarly scale up allowing ever larger economies of scale for said businesses.

While this certainly can result in reduced cost, that cost reduction comes at the expense of:
1: Ever higher startup capital for new business
and
2: Local adaptation.

In the financial sector which must account for everything both of those problem can be a bad thing.
resulting in monopolistic abuse of businesses too big to be accountable to little guys, and business failures due to regional specific issues.

For a healthy economy you need sub-environments for new companies to emerge.

The other problem is agreeing on what is a "base level of regulations".

It is quite clear that New York politicians probably believe their high levels of regulations are "base level" and would impose that upon everyone if they were to come into power in Washington.

Missouri Politicians have a very different idea of what is "base level". In reality given both states have significant different geography supporting equally different industries and thus financial environment they might in fact both be right. What they have in common would be the only real "base level" presuming it is not itself the result of common corruption.

This "base level" however wold not change the issue of licensing so long as there was any 'regulation' beyond that for which each state may want to ensure your qualified to comply with. Not that such compliance could not be automated or done in the breach instead.

[lightbulb27]

@monorprise interesting thoughts and i think were in the weeds. I'm not sure how to protect myself at this point if I run into a questionable company. They've taken it off line.
CAVEAT EMPTOR - let the buyer beware

[monorprise]

@lightbulb27
You can have goverment rules against fraud without regulations by simply enforcing them reactively rather than proactively via license "training".

Thus anyone can start any business but only remain in business if they honor their terms.

[DrPepper12]

Over to you MAGA...

[Anonymous]

That is what courts are for...

[msc545]

Nobody. You are on your own.

[beefcakebradybatson]

Loan sharks !!!

[Anonymous]

Dude crack is a hell of a drug.

[Agape93]

Nobody. Have fun

[ienjoylookingatgreen]

Me im the money man

[Smegskull]

their local state...