Expect to See a New CFPB

11/30/2017
Comments
  • The CFPB was set up to handle all the consumer complaints going on during the recession of extremely illegal tactics of debt collectors and also monitor the way loans were being handled. I am not sure why a loan officer with training and ethics training would be so against the CFPB! The fact that trump has put someone in office that in the past stated that “he hated the CFPB” would lead me to believe that they will eventfully try and get rid of the CFPB, which will only lead to the continuance of illegal behavior. I agree that the fines were a bit on the high side but someone like Jamie Dimon of chase is going to have to drive a Mercedes instead of a Maserati, jee wiz I feel so sorry for him. That bank has been investigated by not only the CFPB but the comptroller of the currency, you don’t get to that point unless you are really doing some pretty bad things to people! Why do you guys constantly talk bad about the CFPB?? Why would you want the banksters to have free rein with your customers??? Trump is a non-trustworthy individual who used the system to not pay the salaries for construction workers all the way back to when you guys were on the play ground just ask an older person living in NJ! You guys really should get your stories straight and stop whining about having to abide by a few rules!

    alli November 30, 2017 8:43 am Reply
    • If you’re going to comment please get your facts straight. No one is calling for the free rein of banks to harm consumers but the “few rules” you mention are costing consumers more. I’m making more than ever but home buyers are paying the price. Do you really think all the insane paperwork, reporting, fines and legal fees are coming out of the bank’s and lender’s pockets? Nope they just get passed on to consumers in higher rates and fees. We all want our industry to be clean and respectful but the CFPB came in and changed many things for the worse or just took rulings too far. By the way your Mercedes vs Maserati analogy is wrong. My wife’s new Mercedes was more expensive than the comparable Maserati so I’m sure Jamie Dimon is doing just fine and likely in a Bentley not some upper middle class 100K Benz.

      todd November 30, 2017 3:06 pm Reply
  • The CFPB was well-intentioned but was a rogue bureaucracy with no oversight that was basically shaking down banks/lenders for, in many cases, minor infractions. It was a liberal’s dream come true. In fact, of 594 employees there who donated to a political campaign, guess how many donated to a Republican? It was 1. ONE! Time to end this sham/charade and kick it to the curb.

    SarcasmDetector December 1, 2017 3:26 am Reply
  • Hmmmm now we know why!
    BIG Trouble for Pocahontas: Warren Helped FUNNEL MONEY to Democrats from CFPB
    https://theblacksphere.net/2017/12/big-trouble-pocahontas-warren-helped-funnel-money-democrats-cfpb/

    Ed December 6, 2017 5:48 pm Reply

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