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Analysis

June 3, 2020

Fact Sheet: The CFPB Task Force on Consumer Protection Must Help Protect Consumers, Not the Financial Services Industry

Most Americans rely heavily on a variety of financial products to meet their basic needs, including credit cards, auto loans, mortgage loans, and sometimes even payday loans. Because these financial products and services create huge opportunities for fraud and abuse, consumers need regulatory protections against predators in each of those markets. Over the past 3 years, the CFPB has systematically dismantled many of those protections. The recently announced Taskforce on Federal Consumer Financial Protection Law will, by all appearances, work to further benefit financial predators over at the expense of consumers. We urge the CFPB to return to its core mission of protecting the American people from criminals and fraudsters. Learn more in our fact sheet here or by clicking the button below.

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