Trump administration orders consumer protection agency to stop work, closes building

Schwartzreport · 2 years ago · 195 views

Christopher Rugaber,  Staff Writer  -  Federal News Network | Associated PressStephan: Did you vote for Trump? Is you did you are reasonable and complicit in the end of all consumer protection against scams. Your bank has implemented new fees, your credit card corporations have done the same? You were deceived into paying money for some benefit you didn't get? Trump is a scammer with a long history of deceit, and he has not removed any protection you have so his fellow scammers can deceive and cheat you. Aren't you glad you voted for a convicted criminal for President? Consumer Financial Protection Bureau headquarters which has now been closed. Credit: Britannica WASHINGTON, D.C. — The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought, the newly installed director of the Office of Management and Budget, directed the CFPB, in a Saturday night email confirmed by The Associated Press, to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama pushed to include it in the 2010 financial reform legislation that followed the 2007-2008 financial crisis. The email also ordered the bureau to “cease all supervision and examination activity.” On Sunday, administration officials also said that the CFPB’s headquarters in Washington, D.C. would [...]