Articles

Consumer Protection Trumped; Louisiana Debt Lawyers Left to Protect

By / 12.7.2017 / No Comment
Consumer Protection Trumped; Louisiana Debt Lawyers Left to Protect

Financial Protection Bureau No Longer Watching Out for Consumers, Unlike Louisiana Debt Lawyers

The Consumer Financial Protection Bureau (CFPB) has begun to change its authoritative position. Once, the CFPB was a strong watchdog in support of Louisiana debt lawyers. As it was founded to be, it held large corporations and big banks accountable. Without the CFPB, large corporations and big banks routinely took advantage of consumers and caused the disastrous economic downtown of the late 2000s. Now, under new supervision of a Trump appointee, the watchdog is merely a toy poodle with no bark and no bite. 

Without Louisiana Debt Lawyers, Consumers Victimized by Deceptive Companies

Three years ago, the CFPB worked tirelessly for consumer justice against Nationwide Biweekly Administration, an Ohio company that deceived over 100,000 mortgage customers. Through all of the CFPB’s hard work, a judge ordered Nationwide Biweekly to pay close to $8 million in penalties for their wrongs to consumers. Three years of hard work by the CFPB was undone in less than two short days of appointed abandonment by Trump’s pawn, Mick Mulvaney. With one document filed under Mick containing just two short sentences, the judgement was withdrawn and the fraudulent company is free to continue taking advantage of consumers once again without having to pay a penny back.

Trump Against Policies Which Louisiana Debt Lawyers Support

The CFPB has been under attack recently and the previous director has been forced out last month. Unfortunately, this is likely to be an indication of times ahead if Mick is confirmed as director of the CFPB. Now, more than ever, consumers are vulnerable to predatory companies such debt collectors, big banks, and deceitful creditors. Debt collection laws may be harder to be enforced without the guidance of a Louisiana debt lawyers to provide adequate representation.
One of the other first acts of Trump’s Mick was to freeze all payments to victims of consumer fraud through the CFPB. Fortunately, this action was met with outrage by consumer advocates and eventually overturned. However, it clearly indicates that Mick is not concerned with consumers. Further, it appears as though he and Trump will do everything in their power to take away consumer rights and require consumers to need Louisiana debt lawyers more than ever.

Stressing a change in priorities, Mick was quoted saying that the CFPB, “will be different, under my leadership and under whoever follows me.” Further, Mick described CFPB’s pending investigations against large corporations as “fairly burdensome” and has even suspended an inquiry of one company that has refused to provide regular information.

Future of Consumer Protection with Louisiana Debt Lawyers

If Mick is confirmed to be the director indefinitely, a Louisiana debt lawyers will likely be in high demand by local consumers. If you are currently receiving confusing letters regarding debt collection, contact an Oklahoma or Louisiana debt lawyers like Paramount Law today.
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