FOR IMMEDIATE RELEASE
January 9, 2017
Polling Memo Shows CFPB Defense is a Political Winner
Fighting to preserve the mission of the Consumer Financial Protection Bureau resonates strongly with an American public that is still feeling the effects of the Wall Street-induced recession and its continuing ripoffs of its own customers, according to a new polling memo.
The memo, released by Americans for Financial Reform, the Center for Responsible Lending, and Allied Progress, shows that Americans don’t buy arguments that the industry and its political allies constantly churn out about supposed regulatory burdens, and that the public wants regulators to stay strong and intact.
“Airing a debate about consumer protection works in favor of the CFPB’s many supporters,” said Lisa Donner, executive director of Americans for Financial Reform. “The more people know about an agency that fights WallStreet, the more they like it.”
“People across the country, whatever their political leanings, favor a reliable and independent watchdog on Wall Street that’s going to look after the public’s interest,” said Mike Calhoun, president of the Center for Responsible Lending. “Any attempt to undermine the consumer bureau work and mission will be extremely unpopular and result in devastating consequences for families and our economy as a whole.”
“The era of demonizing sensible protections for consumers for political gain is over. People don’t want less regulations on banks, they want more, and that’s clear from these poll results,” said Karl Frisch, executive director of Allied Progress. “If President Trump cares at all about keeping the promises he made on the campaign trail to crack down on Wall Street, he should name a director of the CFPB who will build it up, not tear it down.”