February 12, 2025

Who needs consumer protections?

I’m sure since this is good for Billionaires it will trickle down to us poors..

The CFPB says that it has obtained nearly $20 billion in financial relief for U.S. consumers since its founding in the form of canceled debts, compensation, and reduced loans. Last month, the bureau sued Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts — and cheating” customers out of more than $2 billion in lost interest payments as a result, the bureau said.

Dennis Kelleher, president of Better Markets, an advocacy group, said, that’s why Wall Street’s biggest banks and Trump’s billionaire allies hate the bureau: it’s an effective cop on the finance beat and has stood side-by-side with hundreds of millions of Americans — Republicans and Democrats — battling financial predators, scammers, and crooks.”

By way of AP News




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