Published 9 days ago • loading... • Updated 7 days ago

Former CFPB director joins Nessel in laying out ‘pernicious’ impact of Trump order to close agency

Michigan Attorney General Dana Nessel warned that scams could rise if the Trump administration successfully dismantles the Consumer Financial Protection Bureau due to its protective role for consumers.
The CFPB has returned over $21 billion to consumers since 2011, and its shutdown poses a direct threat to financial safety.
Nessel joined nearly two dozen state attorneys general in a lawsuit against the Trump administration's actions to disband the CFPB.
Former CFPB Director Rohit Chopra stated that dismantling the agency could lead to conditions for a financial crisis, highlighting the essential role of the CFPB in consumer protection.

Insights by Ground AI

Does this summary seem wrong?

9 Articles

All

Left

Center

Right

ProPublica

Lean Left

Fend for Yourself: Under Trump, Consumer Protection Bureau’s Probes of Big Tech and Finance Firms Freeze Up

Companies may avoid consequences for alleged wrongdoing as the Consumer Financial Protection Bureau drops lawsuits against Capital One and Rocket Homes and pauses investigations into Meta and others — including providers of medical credit cards.

7 days ago·New York, United States

Read Full Article

Alternet

Left

'Financial crisis': Fired official lays out ‘pernicious’ impact of Trump on swing state

Attorney General Dana Nessel warned Monday that Michigan consumers would be left without protections if the administration of President Donald Trump is successful in gutting the federal Consumer Financial Protection Bureau. Because court rulings in 1999 and 2007 significantly restricted the state’s ability to defend consumers from deception and price gouging under the Michigan Consumer Protection Act, Nessel said Michigan residents are reliant …

8 days ago·Washington, United States

Read Full Article

The Gander

Lean Left

Michigan AG sounds alarm after Trump administration fires consumer watchdogs

Michigan Attorney General Dana Nessel is pushing back against President Donald Trump’s ongoing plans to dismantle the Consumer Financial Protection Bureau. LANSING—Michigan Attorney General Dana Nessel is warning about an increased risk of scams and fraudulent business practices in Michigan, should President Donald Trump’s administration carry out its plan to dismantle the Consumer Financial Protection Bureau (CFPB). “My office can no longer rel…

8 days ago

Read Full Article

iosconews.com

Reposted by

Michigan Advance

Center

Former CFPB director joins Nessel in laying out ‘pernicious’ impact of Trump order to close agency

8 days ago

Read Full Article

Americans for Financial Reform

Statement: AFR Submits Statement for the Record for House Hearing Attacking the CFPB - Americans for Financial Reform

Congress created the Consumer Financial Protection Bureau to prevent another financial crisis, and for the past 14 years it has diligently served the public, held financial firms accountable, cracked down on junk fees, and protected people from financial rip-offs. The vehemence of the Wall Street, Big Tech, and predatory financial industry’s attacks on the CFPB are a testament to its effectiveness in successfully standing up for people. The post…

7 days ago

Read Full Article

HousingWire

In Michigan, a diminished CFPB puts consumers at risk

Given court decisions in prior years that limit Michigan’s ability to enforce consumer protection laws, the state is reliant on the Consumer Financial Protection Bureau (CFPB) for regulatory enforcement. This would leave Michigan consumers vulnerable if the agency is severely scaled back or closed altogether. This was the warning issued by Michigan Attorney General Dana Nessel at a press conference on Monday in Lansing, according to reporting at…

7 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year