The semi-annual review of the CFPB is happening now. Just this year, the CFPB has:
- Proposed a rule to cap overdraft fees,
- Returned $80 million to Navy Federal Credit Union customers charged surprised overdraft fees
and much more! #DefendCFPB #ProtectConsumers
This is critical!
The plan is to install a head who is pro- industry. The worst financial services actors who have fought the CDPB - high interest payday and fintech predatory lenders will be in charge. As before.
I’m a co diner law expert, not an admin law attorney. But there are two different questions. First, can the CFPB be “deleted”? No, not without Congressional approval. Second, can the CFPB and its mission be greatly harmed by this takeover? Yes, as we saw in Trump 1.0.
I made another Starter Pack I'll continue adding to: #Virginia local/state/fed electeds, state and local advocates, & media/reporters/journos covering Va. govt. & courts. Work in progress as more folks join.
bsky.app/starter-pack...
