NCL joins 300+ organizations to oppose the dismantling of the Consumer Financial Protection Bureau
Media Contact: Lisa McDonald, Vice President of Communications, 202-207-2829
Washington, DC – Next week, the National Consumers League (NCL) will join hundreds of consumer advocates and constituents from 45 states to urge lawmakers to support a strong and independent Consumer Financial Protection Bureau (CFPB). Since its creation in 2011, the CFPB has recovered more than $21 billion for consumers who have been harmed by corporate greed and fraud. Cutting the CFPB would leave millions of hard-working Americans vulnerable to scams and other illegal conduct.
Prior to the meetings, NCL also signed on to a letter urging Congress to restore a strong and independent CFPB and vote against any legislative attacks on the agency. During the meetings, known as Consumer Advocacy Week, constituents and consumer advocates will request legislators to oppose active efforts to undo key consumer protections, such as capping most bank overdraft fees at $5, removing medical debt from credit reports, and ensuring payment apps comply with the law.
“The CFPB has been a lifeline for millions of consumers nationwide. In just a few years, the agency has punched far above its weight, returning billions of dollars to individuals harmed by the illegal conduct of banks, student loan servicers, and other bad actors,” said National Consumers League Senior Public Policy Manager Eden Iscil. “This coalition has brought hundreds of advocates from across the country to tell Congress to step up and protect the CFPB.”
As the watchdog for consumers everywhere, the CFPB holds financial institutions accountable when they defraud and cheat people, and the agency has returned more than $21 billion to over 200 million people in the form of restitution or canceled debts. The CFPB has fiercely protected everyday Americans and their families against frauds, rip-offs, and market failures, and now it is our time to safeguard its existence.
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About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.
