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 With one document filed under Mick containing just two short sentences, the judgement was withdrawn and the fraudulent company is free to continue taking advantage of consumers once again without having to pay a penny back.
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.
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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.
