Consumer Protection Is About People
What happened today when Mick Mulvaney was questioned by the Senate Banking Committee is a clear example of why I am running for Congress: Good government invests in human beings, and protects them against avarice.
Mulvaney's attempt to gut the Consumer Financial Protection Bureau — by doing nothing — is an attempt to further institutionalize inequality. It would take away protections for, as Sen. Elizabeth Warren put it, "seniors, students and active-duty military." Since its creation, the bureau has returned a total of $12 billion to consumers from companies that cheated them.
Under Mulvaney, who is serving as acting director, the bureau has not initiated one enforcement action.
After the 2008 financial crisis, Sen. Elizabeth Warren helped create the bureau to protect consumers from payday lenders, subprime mortgage brokers, credit card fraud, telephone scams and corrupt debt collectors.
And it worked, but not this year.
Vote for David in the June 26 Democratic primary.