What Will You Lose If Consumer Financial Protection Goes Away?


As Americans adjust to the realities wrought by the recent elections, one of the most important consequences has yet to be fully explored: the future of consumer financial protection. Many successful candidates in the recent election repeatedly claimed that over-regulation, too much bureaucracy or both were harming the economy. In their view, the nation needed to let businesses operate unhindered and free from regulatory constraints. Additionally, many of the same forces that years ago opposed Wall Street regulation and the creation of a consumer watchdog never gave up their quest to weaken or dismantle the only governmental agency whose sole purpose was to protect consumers.