Do Americans need an agency to protect us from consumer fraud, credit card scams and evil bankers?

CFPB = Consumer Fraud Protection Bureau “Those who are blocking Elizabeth Warren from even being nominated are members of ‘The Financial Crisis Never Happened Caucus’,” Rep. Maloney said. “In her role as Assistant to the President since September creating the CFPB, Mrs. Warren has shown her unique skills in traveling across the country and meeting with everyone to be affected by the new body: from bank executives to those with troubled mortgages. She’s demonstrated that a regulator must reach out, listen to all sides and decide issues in the public interest. It’s time for the President to appoint her to the Director’s job—regardless of her misguided Senate opponents.” “Just last month, the CFPB proposed simple one-page disclosure forms for mortgages that make clear the terms and conditions in plain English. It’s beyond me how things like this so terrify the CFPB’s antagonists,”

Asked By: bad girl - 6/2/2011
Best Answer - Chosen by Asker
Republicans support anything that helps big business and oppose anything that could cut into their profits. If we have an agency that helps prevent big business from ripping off consumers, they won't make as much money from ripping off consumers. This will hurt their profits and be bad for big business. Too bad the... More
Answered By: Alan S - 6/2/2011
Additional Answers (7)
Answered By: Aimal Gul - 6/2/2011
the bankers and corporations have way too much control to build something like this. They have already bought our government along time ago. So they would no agree with doing something like this.
Answered By: ? - 6/2/2011
Yes, we need this agency to protect us against predatory banking practices. Actually, the CFPB proposed a 2-page mortgage disclosure form. You can vote for your favorite:
Answered By: falsi fiable - 6/2/2011
To be frank, I think we have enough committee's, boards, "blue ribbon panels", too much government bureacracy. Seems the president and his cabinet are too dumb to do anything for themselves and are always looking for a reason to create one more panel or one more committee or one more board of inquirey. And all this... More
Answered By: Nightwind - 6/2/2011
YES. I've been following this story and it's pathetic no matter what kind of protections are put in law the Wall Street Criminals manage to rig the system. It's no secret Wall Street was the largest contributor to Obama's campaign.
Answered By: J - 6/2/2011
In the rest of the world this agency is called the government you should look into it.
Answered By: richard t - 6/2/2011
If you think banks are evil, you deserve any agency to be imposed on you.
Answered By: rjrolla - 6/2/2011
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