In just a few short years, the Consumer Fraud Protection Bureau (CFPB) has reined in abuses by debt collectors, taken on for-profit colleges, protected home-buyers from unscrupulous lenders, investigated predatory private student loan companies, insisted on mortgage safeguards, recouped millions for military families who were overcharged or lost homes to foreclosure, unearthed the unethical practices of student debt collectors and shed light on dozens of predatory lending practices and consumer scams.
Since it was created in 2011, the CFPB has returned roughly $11.8 billion to 29 million consumers. That’s an average of $407 for the equivalent of 9 percent of the U.S. population.
Yet, the Consumer Protection Agency is now at risk of being defunded, eliminating a fund that the CFPB uses to reimburse victims of fraud, allowing other regulators overrule the agency, with limits placed on what kind of data CFPB can collect.
We know that Senator Warren will fight fiercely for her brainchild and will work hard to protect millions of everyday Americans.
Click here to sign a petition to Protect our Consumer Protection Agency.