AFL-CIO: Sign the Petition Immediately

Sign the Petition Immediately to Tell Your Legislators to Protect the Consumer Financial Protection Bureau

The petition to the White House and U.S. Congress says the following:

The Consumer Financial Protection Bureau has done crucial work to safeguard Americans against the deceptive and abusive practices of big banks, student loan servicers, credit card companies and predatory lenders. Congress must protect this important work, not grind it to a halt by gutting its funding, hamstringing its independence or unseating the bureau’s hardworking director, Richard Cordray.

 

Sign the Petition Immediately ›

 


February 6, 2017

 

Dear Union Members,

Nearly $12 billion.  That’s not the amount of California’s budget or how much one of President Donald Trump’s Cabinet appointees is worth.

It’s the amount of money the Consumer Financial Protection Bureau (CFPB) has returned to families who were cheated by big banks, payday lenders, debt collectors and other predatory financial institutions.  The CFPB was created after the 2008 financial crisis to rein in the deceptive and abusive practices of these companies.

Now, Republicans in Congress — with the blessing of President Trump’s administration — are moving to gut the CFPB.  They introduced legislation last month to cut the staff at the CFPB and are weighing other measures that would destroy the power of the bureau to hold companies that abuse consumers accountable.

 

Sign the petition immediately to the White House and Congress to oppose any efforts to dismantle the Consumer Financial Protection Bureau.

 

The petition to your members of Congress says the following:

The Consumer Financial Protection Bureau has done crucial work to safeguard Americans against the deceptive and abusive practices of big banks, student loan servicers, credit card companies and predatory lenders.  Congress must protect this important work, not grind it to a halt by gutting its funding, hamstringing its independence or unseating the bureau’s hardworking director, Richard Cordray.

Since its creation in 2011, the CFPB has aggressively gone after big banks, student loan servicers, credit card companies and predatory lenders who break laws and abuse families who are trying to stay in their homes or keep food on the table.  Not only has it returned nearly $12 billion to working people cheated by these shady companies, it’s also done the following:

  • Protected military members and their families from illegal foreclosures.
  • Handled 1 million complaints against companies and recovered unauthorized fees for thousands of people in each state.
  • Shut down student loan “debt relief” scams and stood up to Sallie Mae/Navient to protect student loan borrowers’ rights.
  • Cracked down on big banks and other financial firms that have ripped people off with illegal practices, like in the Wells Fargo fake accounts scandal.

So, it’s no wonder that Wall Street and corporate CEOs want to gut it.  They’ve spent tens of millions of dollars to lobby Congress and elect politicians who will get rid of the CFPB.

They’ve now stacked the deck and have the politicians in office who will push this dangerous agenda.  We can stop them, though, if we apply the same pressure we’ve been putting on them about the Cabinet appointments, the un-American executive orders and Congress’ plans to repeal the Affordable Care Act without a replacement.

 

Add your name to the petition immediately to demand that the White House and Congress oppose any efforts to destroy the Consumer Financial Protection Bureau.

 

In Solidarity,

Richard Trumka President, AFL-CIO