What will happen to consumers under Trump?
Harry talks with Rich Cordray, the first director of the Consumer Protection Financial Bureau, about the Bureau’s achievements for American consumers and the concerns that its functions now may slow dramatically or even stop.
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Show Notes
Harry talks with Rich Cordray, the first director of the Consumer Protection Financial Bureau, about the Bureau’s achievements for American consumers and the concerns that its functions now may slow dramatically or even stop. Trump recently fired the Bureau’s director and appointed a new director who ordered a halt to all Bureau actions; a new acting Director later instructed all staff to cease work. Cordray sketches out the Bureau’s general achievements in the mortgage, credit card, and banking industries, in which individual consumers had so often been victimized with little recourse until the CFPB came online. Cordray explains the lawsuit now pending in the district court in Washington DC to prevent the Administration from mass firings and destruction of agency data. He ends by emphasizing the importance during this time of feverish activity within the Executive Branch to keep watch on enforcement of consumer laws and Administration action to weaken consumer protection.
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