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New York State has joined a coalition of 23 other states and Washington D.C. in a lawsuit aimed at preventing the shutdown of the Consumer Financial Protection Bureau (CFPB). The lawsuit warns that shutting down the CFPB could expose consumers to predatory loans, discriminatory fees, and unfair foreclosures. Democratic lawmakers have expressed concerns that the Trump administration's efforts to close the CFPB will leave service members vulnerable to financial scams and crimes. The CFPB has been credited with holding financial institutions accountable for wrongful practices, including fraudulent foreclosures and excessive fees, and returning funds to affected consumers, particularly servicemembers.
The CFPB stopped fraudulent home foreclosures, ended outrageous bank fees, and returned millions to scammed servicemembers. Trump: Oh no, those poor billionaire banks. https://t.co/Pa1jkB2dbC
When Wells Fargo wrongfully foreclosed Americans' homes, the CFPB held them accountable. When Bank of America flooded families with illegal fees, it got their money back. The CFPB stands up to corruption on behalf of working people. That's why Republicans want to "delete" it.
These comments aren’t the kind of thing that’ll make headlines, but it’s pretty wild to just see him literally say he is doing the bidding of lending officers and bank owners to kill a consumer agency. No other politician could get away with this. https://t.co/lbLn01L8LQ
