Dodd-Frank Law Protects Working People, We Should Protect It

Posted by | July 21, 2017 | Uncategorized | No Comments

By Kenneth Quinnell Dodd-Frank Law Protects Working People, We Should Protect It

Wall Street greed, unregulated, leads to things like the Great Recession. Letting the richest 1% of Americans, big corporations, and their political allies get their way with the economy cost working people trillions of dollars. As a response, we elected President Barack Obama. He and other champions of working people passed some powerful reforms, notably the Dodd–Frank Wall Street Reform and Consumer Protection Act.

Since the act passed, which included numerous reforms, including the creation of the Consumer Financial Protection Bureau (CFPB), the economy has improved, unemployment is down, and many families have started down the pathway towards recovery from the negative impact of the Recession. We have a ways to go to fix all the damage done, but we are on the right path.

But Donald Trump and congressional Republicans are more than willing to do the dirty work that Wall Street and the 1% can’t get done on their own. Through the misleadingly named Financial CHOICE Act, they are attempting to gut Dodd-Frank and the CFPB. Working people aren’t going to stand for attempts to erase the progress we’ve made and strip away the protections we’ve instituted to protect our freedom to work hard and have that hard work provide for our families.

Here are what people are saying about Dodd-Frank and the CFPB:

Congress should strengthen financial regs so greedy Wall St bankers are not allowed to gamble with the lives of working people #doddfrank

— Richard L. Trumka (@RichardTrumka) July 21, 2017

Politicians attacking #doddfrank didn’t have their lives ripped apart the way too many working people did from Great Recession WallSt caused

— Richard L. Trumka (@RichardTrumka) July 21, 2017

The @CFPB was created by Congress to make the financial marketplace fair for consumers. #CFPBTurns6 #DefendCFPB

— AFL-CIO (@AFLCIO) July 21, 2017

Get ready for a fight.

cc: @CFPB

— Sherrod Brown (@SenSherrodBrown) July 20, 2017

Without a financial cushion, families of color are more vulnerable to predatory lending. That’s why we need a strong @CFPB. #DefendCFPB

— Demos (@Demos_Org) July 20, 2017

We need a strong @CFPB to protect our servicemembers. #DefendCFPB #CFPBturns6

— MoPIRG (@MoPIRGtweets) July 21, 2017

The @CFPB was created by Congress to make the financial marketplace fair for consumers. #CFPBTurns6 #DefendCFPB #StopTheDebtTrap

— CRL (@CRLONLINE) July 20, 2017

Consumers paid for the 2008 crisis. Thanks to @CFPB, scammers have to pay people back. #CFPBTurns6 #DefendCFPB

— Consumer Federation (@ConsumerFed) July 20, 2017

.@CFPB is a true ally to consumers who have faced unfair and discriminatory auto lending. #CFPBTurns6 #DefendCFPB

— Consumers Union (@ConsumersUnion) July 20, 2017

So what would you miss if the CFPB suddenly disappeared? Read: @GinaCalabrese3 Ann Goldweber & @jsovern: #DefendCFPB

— New Economy Project (@NewEconomyNYC) July 12, 2017

Happy birthday, @CFPB! Show your support for America’s consumer watchdog. #CFPBTurns6 #DefendCFPB

— Stephen Rouzer (@StephenRouzer) July 21, 2017

The #CFPBturns6 today!

In its six years, the @CFPB has returned $12B to consumers. That’s real money back in our pockets. #DefendCFPB

— Civil Rights (@civilrightsorg) July 21, 2017

Tell Congress to protect regulations that guard working people against a rigged financial system.

Kenneth Quinnell
Fri, 07/21/2017 – 10:51

Source: AFL-CIO

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