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lindysalsagal

(20,440 posts)
Tue Mar 6, 2018, 06:03 PM Mar 2018

Trump is systematically backing off consumer protections, to the delight of corporations

Source: WaPo

By Renae Merle and Tracy Jan March 6 at 10:00 AM


President Trump and the regulators he appointed are taking a far less aggressive approach to consumer protection than their predecessors, delaying key regulations and imposing fewer penalties against financial institutions and other corporations accused of wrongdoing, according to a Washington Post review of available data and interviews with consumer advocates and government officials.

At the Consumer Financial Protection Bureau, for example, enforcement actions have dropped from an average of three-to-five each month during the past four years down to zero since a Trump appointee took charge of the agency in late November.

And the Department of Education has withdrawn Obama-era regulations meant to strengthen protections for student borrowers.

The new approach — welcomed by banks and business leaders — has alarmed consumer advocates who fear it gives an advantage to Wall Street and other powerful industries while leaving ordinary Americans more susceptible to fraud, discrimination and predatory lending.

Read more: https://www.washingtonpost.com/business/economy/a-year-of-rolling-back-consumer-protections/2018/03/05/e11713ca-0d05-11e8-95a5-c396801049ef_story.html?utm_term=.827e5d8fb5a2



This comes as no surprise.
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Trump is systematically backing off consumer protections, to the delight of corporations (Original Post) lindysalsagal Mar 2018 OP
Look Maxheader Mar 2018 #1
UL is a private company jmowreader Mar 2018 #5
Theyre digging their own graves TranssexualKaren Mar 2018 #2
One of his promise's to Corporate America Wellstone ruled Mar 2018 #3
#MAGA LastLiberal in PalmSprings Mar 2018 #4

Maxheader

(4,366 posts)
1. Look
Tue Mar 6, 2018, 06:09 PM
Mar 2018

for shoddy, dangerous product in stores everywhere..
underwriter laboratory safety standards? meh..
cheetoz hasn't a clue what goes into those.

jmowreader

(50,451 posts)
5. UL is a private company
Tue Mar 6, 2018, 08:34 PM
Mar 2018

No government agency tests for electrical safety. Both UL and the agency that writes the National Electrical Code are private. The advantage is those organizations are funded by the insurance industry, whose ulterior motive is to not pay claims. If they were funded by the wiring industry, things would be much different.

TranssexualKaren

(364 posts)
2. Theyre digging their own graves
Tue Mar 6, 2018, 06:14 PM
Mar 2018

When consumers lose confidence in the financial products they’re selling, then they’ll stop buying them.

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