Without your help, conservative members of Congress are set to destroy the only federal financial agency created to stave off another recession and protect your consumer rights to a fair financial marketplace.
The Consumer Financial Protection Bureau (CFPB) has been doing a bang-up job! In the last few months alone, it has taken big banks like Wells Fargo to task, fining them for setting up millions of fraudulent accounts. It’s busted credit bureaus, like Equifax and TransUnion, for selling consumers misleading credit scores. Plus, it has released a damning report (the first of its kind) that could help clean up the debt collection industry after revelations that one in four consumers feel threatened by nonstop calls and other abusive collection tactics.
This is one consumer watchdog with teeth! It’s helped consumers like you with student loan debt complaints, car loans and impending foreclosures.
As a direct result of its supervision and enforcement work combating predatory lenders the CFPB has restored nearly $12 billion to approximately 29 million aggrieved consumers. But it also has upset some in Washington who would rather defend big business (and big profits!) than “drain the swamp” as promised.
This is why we need you to hold these officials accountable. We must raise our voices before it’s too late and the CFPB as we know it is gone.
Please let your members of Congress know that you need the CFPB and its Director, Richard Cordray, to keep up the good work to protect consumer rights. (Feel free to edit our sample email and subject line for maximum impact and to acknowledge the great work of your members if they, as many have, worked to protect the CFPB!)
Please also reach out to your local newspapers and tell them why the CFPB is important to you. You can write a letter to the editor or simply contact the editorial board and encourage them to cover the issue. (Use our free tool to send emails to the media.) Or use social media to #DefendCFPB.