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Yo_Mama_Been_Loggin

(107,153 posts)
Fri Jan 24, 2020, 09:27 PM Jan 2020

The Supreme Court could upend consumer financial protection as we know it

A case before the Supreme Court has the power dramatically to reshape how the U.S. government polices financial fraud and other misdeeds against consumers — which many experts fear would weaken existing protections and expose the public to more harm.

The case, which concerns the Consumer Financial Protection Bureau, ultimately could lead to the dissolution of the agency, which lawmakers created in the wake of the 2008 financial crisis and was bestowed with broad powers to issue and enforce consumer-protection rules in areas such as banking, student loans, credit reporting, mortgages, payday loans and debt collection.

Depending on their verdict, Supreme Court justices could also diminish states' power to investigate and punish financial wrongdoing.

"It would be effectively a big rollback in the consumer protection enforcement authorities," said Christopher Peterson, the director of financial services and a senior fellow at the Consumer Federation of America, a consumer advocacy group.

https://www.msn.com/en-us/money/personalfinance/scotus-case-could-upend-consumer-protection/ar-BBZiFyJ

If you thought "Citizens United" was bad. Gotta protect the oligarchy.

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The Supreme Court could upend consumer financial protection as we know it (Original Post) Yo_Mama_Been_Loggin Jan 2020 OP
The Trump installed court system is going to rewrite a whole lot of legislation rurallib Jan 2020 #1
The government's job is the protect it's country and her people . . Iliyah Jan 2020 #2
We used to be... Newest Reality Jan 2020 #3
In case anyone is interested in who brought this suit in the first place: scarletwoman Jan 2020 #4

rurallib

(62,346 posts)
1. The Trump installed court system is going to rewrite a whole lot of legislation
Fri Jan 24, 2020, 09:32 PM
Jan 2020

When they get done in 30+ years this country will not be recognizable.

Iliyah

(25,111 posts)
2. The government's job is the protect it's country and her people . .
Fri Jan 24, 2020, 09:36 PM
Jan 2020

National Security as well as protection for the people. Under this administration that is not happening.

Vote them out.

Newest Reality

(12,712 posts)
3. We used to be...
Fri Jan 24, 2020, 10:24 PM
Jan 2020

We, as the people of this country used to be called citizens. Now, most mentions of our identity as collective are consumer this and consumers that. I am a citizen, not a consumer.

Now, it's well, screw the consumers?! Well, I respond, I am a citizen first and foremost, which beats consumer in a democracy that is meant to execute the common will for the common good and even provide common spaces and services. As citizens we demand and deserve the protections the CFPB and it was created for our benefit.

How far will we plunge into a Neo-Feudal oligarchy? Will consumers then be called Serfs when they get done?

Let's see how this one goes. Enough is enough, ey?

scarletwoman

(31,893 posts)
4. In case anyone is interested in who brought this suit in the first place:
Fri Jan 24, 2020, 10:55 PM
Jan 2020

From the MSN article:

The plaintiff in the Supreme Court case — Seila Law LLC v. Consumer Financial Protection Bureau — questions the legality of the agency's unique structure.

Here's who Seila Law is: http://seilalawfirm.com/

And here's an interesting bit of info about Seila Law from 2015: https://getoutofdebt.org/98784/im-now-thinking-debt-settlement-attorney-aissac-aiono-must-either-liar-idiot - it's a long complicated piece, but the gist of it is that the Managing Attorney of Seila Law, Aissac Aiono, is something of cheat, liar, and scofflaw.
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