…d to Dodd-Frank; apparently you missed this ruling. “a federal appeals court curtailed the power of the Consumer Financial Protection Bureau, ruling Tuesday that the agency championed by Sen. Elizabeth Warren of Massachusetts violated the Con…
This Bureau was responsible for proving that Bank of America was selling billions in fraudulent financial products to its credit card consumers. Even though BOA was ordered to make restitution to said consumers, to the tune of about 800 million, this never happened.
No mainstream media even covered the findings. No consumers were made aware, as required by the bureau, of the findings against BOA and the restitution it was supposed to provide.
I came across the news in The Christian Scientists Monitor, after a google search on BOA and credit card fraud, as I personally experienced BOA’s fraudulent antics.
So I say all of that to say this: that bureau has very little power. But even if it did, are you going to sit here and assert that is wrong for a bank, clearly engaging in fraudulent behavior to be held accountable? So what are you asserting really? Banks should be permitted to lie, con and defraud their consumers, without any sort of government or legal oversight, because…why? What is the argument exactly? I really want to understand.