March 17, 2017 – In the latest salvo in the Trump Administration’s War on The Poor and Middle Class, Donald Trump has announced his plans to gut the Consumer Financial Protection Bureau.
If you haven’t heard of it, the CFPB enforces a wide range of consumer protection rules imposed on banks, payday lenders, mortgage brokers and other financial institutions. The agency says it has delivered $11.7 billion of “relief to consumers” since its creation, including $3.6 billion in direct compensation to consumers and $7.7 billion in principal reductions, canceled debts and other consumer relief.
But to Trump and his posse of oligarchs and billionaires, the long-suffering middle class, poverty-stricken, and unemployable people of the United States don’t matter in the least.
In fact, if it were up to the Trump/Bannon administration, AND, you make less than $300,000 a year, it’s time for you to buck up and just die off already. Jeesh. What a drain on proper society!
Consumer protection? Why would the fine people of Ohio need that? They don’t have any mortgages or credit cards anyway. They DO NOT need protection from predatory lending and collection practices, according to the Trump administration.
Grow up, is their message. Can’t afford health insurance, your mortgage, rent, or groceries, because your job went away? Just die off already.
Or, as someone put it so succinctly. “Let them eat cake.”