Another lie from a dishonest administration
The article linked to in the tweet states: “Banks have more than doubled their capital, their main financial defense against losses. Profits are surging on the back of the stronger economy, and bank stocks have risen more than the broader stock market since the election of Donald J. Trump. Wall Street’s chief executives are enjoying hefty paydays. The Trump administration has started to relax post-crisis regulation, and banks are angling for more loosening. ”
Banks have also paid billions in fines. Yet, Republicans and some Democrats have eliminated safeguards put in place after the recession.
Mulvaney said ““We had a hierarchy in my office in Congress. If you’re a lobbyist who never gave us money, I didn’t talk to you. If you’re a lobbyist who gave us money, I might talk to you.”
This analysis goes into more detail.
Mulvaney also is considering ending public access to a database consumers use to file complaints against financial institutions. The Trump institution clearly cares about businesses more than the public. Sad!
Congratulations to the Trump administration for finally doing something to benefit consumers instead of businesses. The $1 billion fine shows that banks need to be regulated while Republicans want to relax the rules. Sad!
“The Senate is on the verge of getting rid of a consumer protection measure meant to stop car dealers from charging more for car loans based on race. And the vote is just the start of lawmakers’ attempts to target years of federal agencies’ decisions through the Congressional Review Act, the GOP’s new favorite deregulatory toy.”
Under Obama las appointee, the Consumer Financial Protection Bureau (CFPB) took an average of two to four actions a month to stop companies from hurting consumers.
Under Trump (since the Obama director resigned), the CFPB has taken 0 actions. That’s zero! Trump is pro-business and will let them cheat consumers. Sad!
They care more about businesses than individual consumers.