Letters to the Editor

Support CFPB

The Consumer Financial Protection Bureau (CFPB), which is preparing to celebrate its fifth birthday, protects service members, students, senior citizens and other consumers.

Yet Florida’s members of Congress have sided with financial companies such as payday lenders by supporting legislation that attacks the CFPB.

The CFPB has already returned more than $11 billion to 25 million consumers across the country by suing companies for breaking the law.

Additionally, its website hosts a complaint database that has processed nearly one million complaints, and it provides educational resources and tools that consumers can use to make important financial decisions.

Unfortunately, Sen. Marco Rubio has co-sponsored a bill that would strip the CFPB’s independent funding from the Federal Reserve.

How much money would Congress, which received nearly half a billion dollars from the financial sector during the 2013-2014 campaign cycle, decide to budget for this watchdog?

If more Florida residents contact our members of Congress in support of the CFPB, we can make sure financial companies are kept in check and the voices of consumers don’t get drowned out.

Kris Olson, Federal Consumer Field Associate,

Florida PIRG,

Tallahassee

  Comments