The Consumer Finance Protection Board was established following the recession of 2008. The Trump administration is disabling those protections from the inside out — by selecting administrators who are removing protections. Peter Skopec from WISPIRG, Wisconsin Public Interest Research Group, talks about weakening of regulations on predatory pay-day loan companies and other protections.
WISPIRG is a consumer group that stands up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society. Peter Skopec, Director of WISPIRG, talks with Jan Miyasaki about congressional efforts in House bill HR6743 to weaken oversight of the credit reporting agencies, […]
Would you want a loan at 500% interest? Hell no. But that’s what many pay at “Pay Day Loan” facilities, preying on the poor who may not have the resources to pay off their loans, and subsequently get locked into larger and larger debt. The U.S. Congress and Trump-appointed head of the Consumer Protection Board […]
Peter Skopec, director of the Wisconsin Public Interest Group (WISPIRG) talks about continued assaults on the Consumer Financial Protection Board (begun in the shadow of the 2008 financial recession to advocate for consumer protections), Rent-to-own and pay-day lending transparency, student loan scams, both at the state and national level.
Congress is poised to pass HR-10, dubiously dubbed the “Financial Choice Act”, which will gut the consumer protections put into place by the Dodd-Frank bill following the financial collapse of 2008. Peter Skopec from WISPIRG talks about the implications of the bill’s passage.
Short memory? Less than 10 years after the “great recession” on 2008 and just 7 years after the Dodd–Frank Wall Street Reform and Consumer Protection Act established consumer protections against unregulated spending and risky investing, the Republican-lead congress is considering rolling back consumer protections. Peter Skopec from WISPIRG discusses the “Financial Choice Act”, and its […]