One Arm Tied Behind Your Back Is No Way to Fight Financial Crime

By: Janis Bowdler, Director, Wealth-Building Policy Project, NCLR
Channel: Economics, Social

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“Being a consumer of financial products isn’t easy these days. Fine print, changing technology, and “gotcha” fees are enough to make you put your money back under the mattress, but that is no way to get ahead. Prospering requires smart spending, investing in assets, and making informed financial decisions. Yet families are at a disadvantage when their bank, credit card company, or mortgage servicer doesn’t play fair. That is why NCLR (National Council of La Raza) advocated for the creation of the Consumer Financial Protection Bureau (CFPB), which goes live on July 21, 2011. CFPB’s job is to sniff out the latest financial scams and level the playing field for families and small businesses. So why are some people in Congress trying to tie the agency’s hands before it even opens its doors?” Click here to read more.