As Battle Brews Over Financial Watchdog Agency, A Look at What’s It’s Done So Far

The validity of the recess appointment last January of Richard Cordray, director of the Consumer Financial Protection Bureau, is now in question. The value of CFPB is not.

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REUTERS/Larry Downing

U.S. President Barack Obama speaks next to Richard Cordray (L) and Mary Jo White (R) in the State Dining Room of the White House on January 24, 2013.

10 comments
Paul,nnto
Paul,nnto

What has it done so far? Nothing I gather. 

gysgt213
gysgt213

There is a picture. Guess that's better than a sharp stick in the eye. 

grape_crush
grape_crush

Very informative. /snark

Really, couldn't someone just check to see if whatever Martha White just posted actually appeared?

jmac
jmac

@Paul,nnto That's funny.  But just in case anyone pops in -

"For the average bank accountholder, credit card user, borrower — you know, pretty much all of us — the CFPB has done a lot in its short tenure to implement protections from fine print, legalese and even deception used to separate us from our dollars. In 2012, its actions led to $425 million being refunded to some 6 million consumers — mainly over shady marketing tricks that got people to sign up for services they didn’t need, want or sometimes even understand."

For those into laissez faire government and 'let the buyer beware' (you know who you are, Fox and Republicans) what they've done so far is atrocious.    Hopefully, Republicans can get it all reversed since Cordray was illegal;  then they can continue to  brag how they protect us.   

bryanfred1
bryanfred1

Either that's photoshopped, she's a Hobbit, or the White House uses Peter Jackson's forced perspective trick to make her look that way.

bryanfred1
bryanfred1

I think the point is that there is no story attached to the picture.

But while I agree consumer financial products should be a simple to understand as possible, there will ALWAYS be an element of buyer beware to using them.  If you don't understand it, don't do it.