Tag: U.S. election

White-Collar Crime Can’t Be Allowed to Pay Anymore: Why We Need the Consumer Financial Protection Bureau

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.

 

 

 

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Clinton Lost Because of Her Inability to Gauge the Public Mood on the Economy

By all accounts, this election was Hillary Clinton’s to lose. Although James Comey’s decision to violate the Hatch Act and try to swing the election certainly didn’t help Clinton, the real reason she lost was her inability to gauge the public mood and adapt to it.

Her support of NAFTA and the Trans Pacific Partnership angered voters who were seeing their jobs shipped overseas. Although Clinton solidly won all three presidential debates, the best criticisms that Trump landed in those performances were regarding trade.

Clinton’s pledge to not add a penny to the national debt, although austerity has been a disaster for the working class, also showed how tone deaf her campaign was.

The Democratic Party will need to start listening to leaders like Elizabeth Warren and Bernie Sanders, both popular, charismatic figures with a much better grasp of what really matters to the American people, if they want to regain the offices they have lost.