- February 4, 2014
- Posted by: Joel Firestone (G-Net Consulting)
- Category: News
A presentation of the Did You Know Series
Did you know…The House Financial Services Committee is working to make the Consumer Financial Protection Bureau (CFPB) more accountable and transparent? The house committee alleges that the CFPB has too much autonomy and power with no accountability when it comes to credit cards, auto loans and mortgages. They have the uninhibited power to make loans less available and more expensive, or to take them away entirely. The CFPB’s mortgage rules will also prevent many credit-worthy borrowers from obtaining mortgages for which they would otherwise qualify. In addition, the CFPB has been adding new and difficult regulations on job creators, making it harder for them to grow their businesses, create jobs and meet the needs of their customers. The House Financial Services Committee is asking consumers and business owners for feedback on how the CFPB has impacted them. The house committee has created an online form to gather feedback and wants to hear from you! Access the form here to explain how the CFPB has impacted your business.