Since the election, the future of the Consumer Financial Protection Bureau has become uncertain.
However, if the Republicans really want to make inroads with the middle class, they shouldn’t touch it. Trump has given his party access to groups of voters they were never able to reach before. Republicans shouldn’t jeopardize this progress.
American voters haven’t forgotten the role banks played in the Financial Crisis. Many of them blame the banks for it.
The CFPB has done tremendous work helping victims of financial institutions. But the fight is far from over.
The CFPB fined Wells Fargo $100 million for creating fake credit card applications, creating over a million fake bank accounts, and fraudulently charging its clients. They shed light on its corrupt activities.
Now, Wells Fargo is trying to cheat its victims out of their day in court by forcing their claims into arbitration. The CFPB is needed more than ever. The bureau needs our full support in prohibiting banks like Wells Fargo, credit card issuers, and other companies from forcing their clients to forfeit their right to class action lawsuits and requiring that they submit their claims to arbitration instead.
These people deserve their right to be heard.