[Occupymendocino] Fw: Consumer watchdog in danger

[Ann Rennacker]

________________________________
From: Robert Gardner, Consumers Union <actions at cu.consumer.org>
Sent: Thursday, February 16, 2017 11:22 AM
To: Ann Rennacker
Subject: Consumer watchdog in danger

[Consumers Union]


Consumer Watchdog Under Attack <http://cu.convio.net/site/R?i=hQklq6OjLDILPdCksfiIMA>

Wall Street lobbyists and their allies in government are attacking our financial watchdog – the only regulator that stands up for consumers like us against the banks and credit companies.

Act now »<http://cu.convio.net/site/R?i=1OhK3cks0vRAITmsOpYucg>


Ann

After the Wall Street crash, Congress created a Consumer Financial Protection Bureau (CFPB) to ensure consumers have a watchdog fighting for their interests in the financial sector. In just five years, the CFPB has already returned nearly $12 billion to consumers who were swindled by big banks, lenders, debt collectors and other financial firms. That’s real money — back in the pockets of consumers like us.

Now Wall Street lobbyists want to exploit the changing tides in Washington to gut this critical watchdog. In the interest of padding their profits, Wall Streeters are pushing a series of bills and executive orders designed to undercut key consumer protections that save us money.

Act now to tell the administration and Congress to stand up for our consumer watchdog. Don’t weaken the CFPB’s powers to rein in fraud and abuse on Wall Street.<http://cu.convio.net/site/R?i=6lz5jnCY2FtpAYoCOcRPCA>

The CFPB is the only government watchdog equipped to fight the powerful interests on Wall Street. Over the past five years, they’ve protected homeowners from illegal foreclosures, cracked down on fraudulent credit card fees, and expanded safeguards for prepaid debit cardholders. Since its creation, the CFPB has fielded and helped to resolve more than 1 million complaints from consumers about shady financial practices.

As we speak, a new resolution is moving through Congress that would strip away important safeguards on prepaid debit cards that help consumers avoid costly fees and fraud traps. And a new House bill proposed this week would turn our watchdog into a lapdog by eliminating its authority to supervise banks, credit reporting agencies, and payday lenders.

We can’t afford to lose these critical protections or allow Congress to gut our watchdog.

There are few special interests in Washington as powerful as Wall Street. But if we bring our voices together, consumers can be an even stronger force for good. When you’re done signing the petition in support of the CFPB, take a moment to forward this mailing to your friends and family to get them on board.

Thank you for all you do.

Robert Gardner
Consumers Union, Policy and Action from Consumer Reports

Act now »<http://cu.convio.net/site/R?i=2aBSJKoDEgGnNVAQG-RXZw>








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