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CFPB serves vital purpose, say advocacy groups

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Mortgage Professional America | 11 Apr 2016, 06:30 AM Agree 0
Industry groups and lawmakers have long been critical of the CFPB, but consumer advocacy groups say the organization provides vital protection to everyday Americans
  • nonbeliever | | 11 Apr 2016, 01:10 PM Agree 0
    PLLEEEEEZE, all in the industry want the best for the consumer .. no one has contested that .. what is challenged is the execution of such by the CFPB .. the claimed intent of consumer fairness has proven to be harmful rather than helpful .. under the guise of consumer fairness the CFPB has created a machine that is a secret tax via the means of fines and penalties .. the only way to ease the nonsense is get rid of the entity all together
  • NoSpinJustFacts | | 11 Apr 2016, 01:57 PM Agree 0
    If the article carries accurate statements by the alleged advocacy of consumer groups, it furthers the disconnect from reality these groups have in investigating the harm to consumers the CFPB has created. As well, the disconnect from reality the strong housing market that existed prior to the President Clinton and his congressional pals such as Dodd and Frank that pushed lenders into making mortgages to "under-served" (code for bad credit no money) consumers. Thus, the housing harm and ensuing financial crisis was created by certain congressional members and Government Agencies threatening the mortgage lending community to make harmful mortgages or face wrath of Federal Agencies & Justice Department over violations of ECOA.

    Thus, consumers and the lenders that serve them must keep up the spotlight on the harm the CFPB is creating for consumers. These alleged consumer advocacy groups are spotlighting they are puppets to the marching orders certain congressional members utilize them for empowering Big Government to keep citizens and the businesses that serve them down.
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