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Keep Wall Street In Check

We all know what happens when Wall Street’s reckless actions go largely unchecked.

That’s why, a decade ago, our network helped create the Consumer Financial Protection Bureau (CFPB), the only agency whose sole mission is to create and enforce fair rules of the road in the financial marketplace.

Unfortunately, the Consumer Bureau has strayed away from its one job: protecting consumers. We’re telling Director Kathy Kraninger to live up to the CFPB’s mission.

The CFPB was set up in the wake of the 2007-2008 economic collapse brought on by dangerous Wall Street financial practices. Millions of Americans lost their homes, jobs and savings during the ensuing Great Recession.

It got off to a great start under its first director by returning $12 billion to 31 million consumers cheated by illegal practices conducted by credit card and mortgage companies, banks, credit bureaus, debt collectors and others.

The Consumer Bureau is under attack.

From the day it opened its doors, we successfully blocked Wall Street-funded efforts in Congress to strip the bureau of its ability to protect consumers. In the last year, the threats to its mission have largely shifted away from Congress and are increasingly coming from the inside, under Director Kathy Kraninger.

That’s why we’ve been busy holding her and the rest of its leadership accountable. We sued the CFPB in June for granting the financial services industry illegal influence over consumer protections. We’ve also sounded the alarm on a record number of consumer complaints during COVID-19. 

You can join us in taking action here.