Photo via Consumer Financial Protection Bureau /Flickr
Big corporations and predatory lenders have always hated the Consumer Financial Protection Bureau ever since it was established 15 years ago.
And repeatedly during that period, the bureau has proved its worth by establishing and enforcing commonsense rules that target exploitive practices and help protect average Americans when they’re making big purchases and borrowing money.
A recently adopted rule would help keep medical bills from ruining people’s credit reports.
Not surprisingly, in light of all this, President Trump and his billionaire sidekick Elon Musk have made crippling and/or abolishing the agency a top priority.
Thankfully, attorneys general across the nation, including North Carolina’s Jeff Jackson, are fighting back. They’ve filed a federal court brief that argues the Bureau has become an essential partner to states in consumer protection efforts.
The bottom line: Actions like this are one of the reasons North Carolinians elected Jackson as the state’s top lawyer. Let’s hope he and his fellow AG’s succeed in keeping this important consumer watchdog on the job.
For NC Newsline, I’m Rob Schofield.