THE CFPB / Consumer Financial Protection Bureau is under attack by the drumpf/trump-pence administration, and may be eliminated, if people don't demand congress protects it and keep it fully funded. Wall Street and the bank-financial cabal hate the CFPB, that should be proof enough we need to fight for it. This is class warfare, the American people vs the 1% and corporate greed. +Senator Elizabeth Warren is sounding the alarm, it is up to us to contact our senators and representative ( I did, my e mails to +U.S. Senator Tim Kaine D VA, Sen +Mark Warner D VA and +Congresswoman Barbara Comstock r VA after this article and I also posted them on their facebook pages (pending approval) ) and demand congress keep the CFPB open, unfettered and fully funded. Contact information for your senators can be found here and your representative here. This from +AlterNet ......
Elizabeth Warren Breaks Down the Biggest Trump Scandal You Haven't Heard About
February 9, 2017
Warren sounds off on the president's plan to gut the Consumer Financial Protection Bureau.
Mitch McConnell may have cut her off on the Senate floor, but Elizabeth Warren refuses to be silenced. Two days after becoming an internet meme, the Massachusetts senator sat down with Attn to discuss an underreported but no less pressing Trump scandal.
"What Donald Trump wants to do is fire one of the most important financial cops and then say to the American people, you keep walking down this dark alley and, you know, what happens is what happens," Warren revealed.
The cop in question is Consumer Financial Protection Bureau director Richard Cordray. Cordray's term ends in July 2018, but Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, is encouraging Trump to "immediately fire" the director.
"The Consumer Financial Protection Bureau, which didn't even exist before the financial crisis, [prevents Americans from being] cheated on mortgages and credit cards and the things that ultimately blew up our economy," Warren explained.
The CFPD was created by the Dodd-Frank financial reform act and specifically helped combat home mortgage scams. Now that Trump wants to scrap the legislation, Republicans such as Rep. Hensarling along with Sen. Mike Lee of Utah and Sen. Ben Sasse of Nebraska say Cordray must go.
"The financial services industry, the giant banks figured out, 'Whoa, there's money to be made here... by selling, lyin' and cheatin' scammin' mortgages,' and that's what they did," Warren said.
"They sold them in big numbers and for a little while it was, you know, like a sugar high," she continued. "Housing prices went up, the economy went crazy, and then of course it all blew up. And they not only cost people their homes and cost them their financial security, they cost millions of people across this country their jobs and their savings. They really created the economy that made it so hard for young people to come in and get good and decent jobs and be able to move ahead."
Warren became the Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau in September 2010, but was not nominated to direct the agency for fear she would not pass confirmation. President Obama nominated Cordray instead 10 months later.
According to Warren, the agency functions as "a cop on the beat, to [provide] a level playing field" and "Donald Trump just started the process to try to gut the rules."
MY e mails to Senators Kaine and Warner
Republicans in Congress want the CFPB shut down. We, the American people, need the protection from the fraud, cheating and excess fees Wall Street and the bank-financial cabal would subject us to without the CFPB and the Dodd-Frank regulations now in place. I expect you to stand strong with the American people and Sen Elizabeth Warren and keep the CFPB open, unfettered and fully funded. Do not be a DINO, we need you to more than ever to protect us from the Trump-Pence administration and the Republican controlled Congress. Sincerely,
Craig Schwanke
Ashburn, VA
MY e mail to Rep Comstock
Many Republicans in Congress want the CFPB shut down. We, the American people, need the protection from the fraud, cheating and excess fees Wall Street and the bank-financial cabal would subject us to without the CFPB and the Dodd-Frank regulations now in place. I expect you to stand strong with the American people and Sen Elizabeth Warren and keep the CFPB open, unfettered and fully funded. Do not be rubber stamp Republican, we need you to more than ever to protect us from the greed of Wall Street and the bank-financial cabal, those who brought us the 2008 recession.
Sincerely,
Craig Schwanke
Ashburn, VA
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