We need the Consumer Financial Protection Bureau (CFPB). The CFPB is the agency standing up to the big Wall Street firms, banks and predatory lenders on behalf of individual consumers like you and me; however, the pro-consumer agency is constantly under attack for being successful for the reason it was created – to protect consumers.
The CFPB was created in the wake of the 2008 financial crisis to fight for consumers. It is working to stop financial firms and predatory lenders from stealing our money, and it is working to shut down the debt traps and fraudulent schemes that separate hard-working Americans from their hard-earned paychecks.
The CFPB has delivered nearly $12 billion in relief to some 27 million Americans defrauded by lenders or banks over the last five years. It is the agency that helped catch Wells Fargo fraudulently opening millions of accounts for customers without their knowledge or permission; the agency that released a rule to protect the rights of consumers to pursue class actions and is working on a rule to curb predatory lending; and it is the agency that has received close to 1.2 million consumer complaints and helped ensure those consumers received responses to their complaints. (Submit your complaint by clicking here https://www.consumerfinance.gov/complaint/)
There are bills in the Senate to eliminate the CFPB, take away its independence and roll back consumer protections. Please contact your Senator Thad Cochran or Senator Roger Wicker by calling 888-789-9078 to tell him to protect the Consumer Financial Protection Bureau because the CFPB protects Mississippi consumers.
Charles Lee is the Consumer Protection Division Director for the Mississippi Center for Justice.