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It’s Always Sunny at the CFPB

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This week, I’ll be headed to Capitol Hill to testify before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. I’m looking forward to testifying on our progress in building the CFPB and highlighting our efforts to promote openness and accountability.

The timing couldn’t be better: it’s Sunshine Week, a national effort focused on openness in government. This consumer bureau belongs to the public, and we’re building it right out in the open – there for anyone to see.

When I first joined the CFPB implementation team, I wanted everyone to know what we were up to, so I decided it was important to post my monthly calendar online. Everyone can see who I am meeting with in the course of building the CFPB. My calendar includes meetings with Members of Congress, consumer groups, financial companies, small business advocates, and many others.

In December, we began sharing a draft organizational chart of the new bureau with members of Congress and the media. When we launched our website in February, we included this chart as a feature. We have also added profiles of people who are leading some of the CFPB’s efforts and provided updates on our progress and current priorities in hiring. Last week, we posted online correspondence between the consumer bureau and Congress. In the coming days, we’ll post our first public quarterly spending report.

We know there are plenty of good ideas out there for making the CFPB even more accountable to the American people. That is one reason we have planned a roundtable in April with open government advocates and some of the individuals and groups who have made requests about the CFPB under the Freedom of Information Act (FOIA).

During Sunshine Week and beyond, the CFPB will work to shed light on the markets for consumer financial products and services, as well as the steps we’re taking to build an agency that is fully accountable to American families. It’s always sunny here at the consumer bureau.

  • Anonymous

    Keep on shining!!! The American Citizen needs You~

  • Anonymous

    Keep on shining!!! The American Citizen needs You~

    • Get A Job

      Sorry to disagree, but I am one American Citizen that does not need the CFPB. It is yet one more bureaucracy that will cost hundreds of millions of additional taxpayer dollars.

      This new bureaucracy is unnecessary. It was formed as a “knee-jerk” reaction from the Obama Administrtion. It will do absolutely nothing to reduce the cost of credit, improve disclosures, or prevent future financial problems in the U.S.

      This agency will make financial products more expensive and give consumers fewer choices.

      We don’t need this agency.

    • Get A Job

      Sorry to disagree, but I am one American Citizen that does not need the CFPB. It is yet one more bureaucracy that will cost hundreds of millions of additional taxpayer dollars.

      This new bureaucracy is unnecessary. It was formed as a “knee-jerk” reaction from the Obama Administrtion. It will do absolutely nothing to reduce the cost of credit, improve disclosures, or prevent future financial problems in the U.S.

      This agency will make financial products more expensive and give consumers fewer choices.

      We don’t need this agency.

  • Rlsaltzman

    Give’m hell msWarren!

    • Get A Job

      We don’t need another bureaucrat raising hell and interfering with my financial freedoms. This agency will lead us into the land of socialist finance.

      • Sweet Melissa

        What this agency will do is ensure that your bank is not overcharging you on your mortgage interest, or discriminating against you based on race or gender. How is doing so “the land of socialist finance”? The average American cannot protect himself/herself against these giant financial corporations. Even if you realize that your bank is cheating you, can you afford to hire a lawyer to fight the bank? Someone out there has to make sure we’re not getting ripped off, so that the rich can just get richer.

        The CFPB will not interfere with your financial freedoms, it will protect your financial rights.

        • Get A Job

          I respectfully disagree.

          I am quite capable, as are the majority of Americans, of protecting myself when it comes to managing my financial matters.

          I pay my bills on time, I read the disclosures on financial products, and I do my homework.

          I find that there are hundreds, even thousands, of options available to me. There are banks, credit unions, credit card companies, brokerage houses – most of which want my business. I am free to choose the product that is best for me.

          Now, this new agency, and people like you, are stating that Americans aren’t intelligent enough to make financial choices for themselves. This agency is attempting to place itself into the role of telling me what is good for me.

          Thank you very much, but I will choose my own financial products.

          Contrary to all of the dramatic statements made by you, I can say that my bank has never cheated me – not in thirty years. I have never had a problem with my bank. In fact, my relationship with the bank is excellent. Why would I need to hire a lawyer to fight a bank, as you state?

          Give me an example of a bank that is intentionally cheating its customers. Don’t just make the assumption – provide some real facts.

          In terms of “someone out there” making sure “we’re not getting ripped off”, I’ll tell you who “someone out there” is – it’s me! I am going to make sure that I am not getting ripped off. I don’t need, or want, Elizabeth Warren looking out for me. If I had a problem, she wouldn’t talk to me, and I doubt her agency would come to my local area and fight for me.

          Creating a few “plain vanilla” financial products that every financial institution has to offer will reduce competition, and reduce my choices. The big financial institutions will only get bigger.

          So yes. When government takes over the role of deciding what’s best for me and reducing my choices – I absolutely believe that is socialist finance.

          Stay out of my wallet.

          • Get A Job

            What happened to Sweet Melissa?

            I challenged her to follow up on an assertion she made in her blog post, but she has not replied.

            People who make bold statements, but cannot back them up, should stop posting their comments here.

          • Get A Job

            What happened to Sweet Melissa?

            I challenged her to follow up on an assertion she made in her blog post, but she has not replied.

            People who make bold statements, but cannot back them up, should stop posting their comments here.

        • Get A Job

          I respectfully disagree.

          I am quite capable, as are the majority of Americans, of protecting myself when it comes to managing my financial matters.

          I pay my bills on time, I read the disclosures on financial products, and I do my homework.

          I find that there are hundreds, even thousands, of options available to me. There are banks, credit unions, credit card companies, brokerage houses – most of which want my business. I am free to choose the product that is best for me.

          Now, this new agency, and people like you, are stating that Americans aren’t intelligent enough to make financial choices for themselves. This agency is attempting to place itself into the role of telling me what is good for me.

          Thank you very much, but I will choose my own financial products.

          Contrary to all of the dramatic statements made by you, I can say that my bank has never cheated me – not in thirty years. I have never had a problem with my bank. In fact, my relationship with the bank is excellent. Why would I need to hire a lawyer to fight a bank, as you state?

          Give me an example of a bank that is intentionally cheating its customers. Don’t just make the assumption – provide some real facts.

          In terms of “someone out there” making sure “we’re not getting ripped off”, I’ll tell you who “someone out there” is – it’s me! I am going to make sure that I am not getting ripped off. I don’t need, or want, Elizabeth Warren looking out for me. If I had a problem, she wouldn’t talk to me, and I doubt her agency would come to my local area and fight for me.

          Creating a few “plain vanilla” financial products that every financial institution has to offer will reduce competition, and reduce my choices. The big financial institutions will only get bigger.

          So yes. When government takes over the role of deciding what’s best for me and reducing my choices – I absolutely believe that is socialist finance.

          Stay out of my wallet.

      • Sweet Melissa

        What this agency will do is ensure that your bank is not overcharging you on your mortgage interest, or discriminating against you based on race or gender. How is doing so “the land of socialist finance”? The average American cannot protect himself/herself against these giant financial corporations. Even if you realize that your bank is cheating you, can you afford to hire a lawyer to fight the bank? Someone out there has to make sure we’re not getting ripped off, so that the rich can just get richer.

        The CFPB will not interfere with your financial freedoms, it will protect your financial rights.

      • sarabee

        “I don’t care how big you are, I don’t care who you your friends are, everybody follows the law,” Warren said, adding later, “What this agency is about is making the prices clear, making the risks clear, making it easy to compare one product to another. The point is to get an informed consumer, because I believe that American families are good at making decisions when they have good information upfront.” Dr. Elizabeth Warren to house financial services committee 3/16/2011

        Everything Dr. Warren has done and said since the recent financial mess has been consistent with this statement. I don’t know how any reasonable person could be opposed to that.

        Maybe your idea of financial freedom is your “right” to rip the rest of us off?

      • sarabee

        “I don’t care how big you are, I don’t care who you your friends are, everybody follows the law,” Warren said, adding later, “What this agency is about is making the prices clear, making the risks clear, making it easy to compare one product to another. The point is to get an informed consumer, because I believe that American families are good at making decisions when they have good information upfront.” Dr. Elizabeth Warren to house financial services committee 3/16/2011

        Everything Dr. Warren has done and said since the recent financial mess has been consistent with this statement. I don’t know how any reasonable person could be opposed to that.

        Maybe your idea of financial freedom is your “right” to rip the rest of us off?

        • Get A Job

          American families already have more information on their financial products than they can possibly absorb.

          As an example, the mortgage process is subject to a myriad of regulations and laws. Truth In Lending Act, Real Estate Settlement Procedures Act, Fair Housing Act, Equal Credit Opportunity Act, Home Ownership and Equity Protection Act, Home Mortgage Disclosure Act, Mortgage Disclosure Improvement Act, SAFE Mortgage Licensing Act, Home Valuation Code of Conduct, are just some of the laws and regulations currently in force.

          With all of those, and the mountain of information and disclosure given to consumers, you actually believe we need more?

          Consumers don’t read what they are given now. What makes anyone think they are going to read more?

          What will be next? Asking lending officers to verbally read all documents to a borrower, paragraph by paragraph, and then asking the borrower to initial each paragraph to show they understand?

          What happened to personal responsibility? I fully believe that if people paid their bills and loans on time, and invested a little time reading disclosures and comparing prices, they would not have financial issues. One main problem is that consumers are lazy and unwilling to spend the time to read and compare. Just because consumers are lazy, does that mean the government should step in and do their homework for them?

          Tell me this, what more information do you believe consumers need?

          All loan applicants are given the Annual Percentage Rate to demonstrate the total cost, expressed as a percentage, as prescribed by exact formulas contained in the Truth In Lending Act. The Real Estate Settlement Procedures Act requires full disclosures to mortgage applicants to show all costs involved in obtaining a mortgage loan. These disclosures are on the same form, regardless of which lender issues them.

          So mortgage applicants currently get the APR, and all costs, disclosed to them up front, before a loan is made.

          I ask again, what more do you want?

          Ms. Warren is not saying anything new. She is saying the same things that all financial regulators have been saying for decades.

          I am a reasonable person and I agree with Ms. Warren that consumers should be informed, receive accurate disclosures, and be treated fairly.

          I absolutely disagree with her attempt to take control of my ability to make a decision in terms of the financial products and services I purchase.

          This agency will only serve to drive up the cost of my borrowings, create more paperwork that no one will read, and slow down the process. It will also reduce my choices.

          Where is the benefit in any of that?

        • Get A Job

          American families already have more information on their financial products than they can possibly absorb.

          As an example, the mortgage process is subject to a myriad of regulations and laws. Truth In Lending Act, Real Estate Settlement Procedures Act, Fair Housing Act, Equal Credit Opportunity Act, Home Ownership and Equity Protection Act, Home Mortgage Disclosure Act, Mortgage Disclosure Improvement Act, SAFE Mortgage Licensing Act, Home Valuation Code of Conduct, are just some of the laws and regulations currently in force.

          With all of those, and the mountain of information and disclosure given to consumers, you actually believe we need more?

          Consumers don’t read what they are given now. What makes anyone think they are going to read more?

          What will be next? Asking lending officers to verbally read all documents to a borrower, paragraph by paragraph, and then asking the borrower to initial each paragraph to show they understand?

          What happened to personal responsibility? I fully believe that if people paid their bills and loans on time, and invested a little time reading disclosures and comparing prices, they would not have financial issues. One main problem is that consumers are lazy and unwilling to spend the time to read and compare. Just because consumers are lazy, does that mean the government should step in and do their homework for them?

          Tell me this, what more information do you believe consumers need?

          All loan applicants are given the Annual Percentage Rate to demonstrate the total cost, expressed as a percentage, as prescribed by exact formulas contained in the Truth In Lending Act. The Real Estate Settlement Procedures Act requires full disclosures to mortgage applicants to show all costs involved in obtaining a mortgage loan. These disclosures are on the same form, regardless of which lender issues them.

          So mortgage applicants currently get the APR, and all costs, disclosed to them up front, before a loan is made.

          I ask again, what more do you want?

          Ms. Warren is not saying anything new. She is saying the same things that all financial regulators have been saying for decades.

          I am a reasonable person and I agree with Ms. Warren that consumers should be informed, receive accurate disclosures, and be treated fairly.

          I absolutely disagree with her attempt to take control of my ability to make a decision in terms of the financial products and services I purchase.

          This agency will only serve to drive up the cost of my borrowings, create more paperwork that no one will read, and slow down the process. It will also reduce my choices.

          Where is the benefit in any of that?

      • Mary Stacey

        I don’t agree. We had lots of agencies but they refused to back up regular Americans. Ms. Warren is made of sterner stuff.

        • Get A Job

          Dear Mary Stacey,

          What exactly do you mean when Ms. Warren is made of “sterner stuff”?

        • Get A Job

          Dear Mary Stacey,

          What exactly do you mean when Ms. Warren is made of “sterner stuff”?

        • Get A Job

          Dear Mary Stacey:

          Which federal agencies have “refused to back up regular Americans”?

          • Get A Job

            What happened to Mary Stacey?

            I challenged her to follow up on an assertion she made in her blog post, but she has not replied.

            People who make bold statements, but cannot back them up, should stop posting their comments here.

          • Get A Job

            What happened to Mary Stacey?

            I challenged her to follow up on an assertion she made in her blog post, but she has not replied.

            People who make bold statements, but cannot back them up, should stop posting their comments here.

        • Get A Job

          Dear Mary Stacey:

          Which federal agencies have “refused to back up regular Americans”?

      • Mary Stacey

        I don’t agree. We had lots of agencies but they refused to back up regular Americans. Ms. Warren is made of sterner stuff.

    • Get A Job

      We don’t need another bureaucrat raising hell and interfering with my financial freedoms. This agency will lead us into the land of socialist finance.

  • Rlsaltzman

    Give’m hell msWarren!

  • http://missionstatementsexamples.com mission statement

    Great job to promote openness.

    • Get A Job

      What is open about this website?

      The site is effective in acting as a cheerleader and a promoter for the CFPB (and at the expense of us – the taxpayer).

      How is the promotion of a new agency equated to “openness”?

    • Get A Job

      What is open about this website?

      The site is effective in acting as a cheerleader and a promoter for the CFPB (and at the expense of us – the taxpayer).

      How is the promotion of a new agency equated to “openness”?

  • http://missionstatementsexamples.com mission statement

    Great job to promote openness.

  • Sweet Melissa

    Dear Prof. Warren,

    As the Republicans try to defund and disband your agency before it even begins, I think you should step up your agency’s PR campaign so that the American populace better understands the mission of the agency and how it is of vital importance to American families. The Republicans are in the news constantly, claiming bad things about the CFPB, but who is out there proclaiming the good that it will do? Round up the troops you have, get them out there, and let America know that it will only benefit from this agency and the basic consumer protections it will provide.

    • Get A Job

      Dear Melissa:

      In your post you make the comment, “..but who is out there proclaiming the good that it will do?”

      I believe this website is clearly a cheerleader for the new agency. The staff of the CFPB is spending quite a few of our taxpayer dollars to promote itself.

      This website is not objective. It is very pro-CFPB. Let’s face it – these folks are working to create bureaucratic jobs. They are trying to justify their existence.

      I have a question for you, and for others. What good will the CFPB do?

      There are already hundreds of regulations on the books. I cannot believe adding yet another agency, and spending hundreds of millions of additional taxpayer dollars, will do any “good”.

      At the end of the day I believe we will end up with more regulations, more confusion, additional costs to consumers, and fewer choices.

      I see nothing good in that.

    • Get A Job

      Dear Melissa:

      In your post you make the comment, “..but who is out there proclaiming the good that it will do?”

      I believe this website is clearly a cheerleader for the new agency. The staff of the CFPB is spending quite a few of our taxpayer dollars to promote itself.

      This website is not objective. It is very pro-CFPB. Let’s face it – these folks are working to create bureaucratic jobs. They are trying to justify their existence.

      I have a question for you, and for others. What good will the CFPB do?

      There are already hundreds of regulations on the books. I cannot believe adding yet another agency, and spending hundreds of millions of additional taxpayer dollars, will do any “good”.

      At the end of the day I believe we will end up with more regulations, more confusion, additional costs to consumers, and fewer choices.

      I see nothing good in that.

    • Get A Job

      I am not a republican, but I, too, believe the CFPB should be defunded and disbanded.

    • Get A Job

      I am not a republican, but I, too, believe the CFPB should be defunded and disbanded.

  • Sweet Melissa

    Dear Prof. Warren,

    As the Republicans try to defund and disband your agency before it even begins, I think you should step up your agency’s PR campaign so that the American populace better understands the mission of the agency and how it is of vital importance to American families. The Republicans are in the news constantly, claiming bad things about the CFPB, but who is out there proclaiming the good that it will do? Round up the troops you have, get them out there, and let America know that it will only benefit from this agency and the basic consumer protections it will provide.

  • sarabee

    Professor Warren.

    You are my hero!

    You are the only one (well maybe Ms Baird as well) sounding honest, informed and communicative since this whole mess began.

    Thank you!

    • Get A Job

      No disrespect to Ms. Warren, who is obviously an intelligent and well-educated attorney and professor, but can you tell me what she has done to elevate her to “hero” status? What heroic acts has she performed?

      Please, let’s go easy on the use of adjectives. While she is a very accomplished person, I wouldn’t characterize her as my hero.

      Let’s see what she accomplishes first.

      (And remember, she has never been confirmed as the leader of the CFPB. Congress has never had the opportunity to do so. Likely because she is not confirmable.)

    • Get A Job

      No disrespect to Ms. Warren, who is obviously an intelligent and well-educated attorney and professor, but can you tell me what she has done to elevate her to “hero” status? What heroic acts has she performed?

      Please, let’s go easy on the use of adjectives. While she is a very accomplished person, I wouldn’t characterize her as my hero.

      Let’s see what she accomplishes first.

      (And remember, she has never been confirmed as the leader of the CFPB. Congress has never had the opportunity to do so. Likely because she is not confirmable.)

  • sarabee

    Professor Warren.

    You are my hero!

    You are the only one (well maybe Ms Baird as well) sounding honest, informed and communicative since this whole mess began.

    Thank you!

  • Matt

    Well what will CFPB do, that I could not otherwise… Nothing

    May be Obama ought to think about enforcing regulations and progrmas already in place. For example, mortgage modification. I can personally attest to the fact that banks have a lot of leeway in deciding whether to modify loans or not I was caught in this with Bank of America. They not only refused to modify my loan, but hiked my payment on the pretext of collecting taxes and insurance, which I did not escrow with them. I am without job and they refused to consider my case bacause I was not facing financial problems, even though I have no job. I guess being frugal is a bad thing.. what will CFPB do for my type Nothing.. I think it is another bureaucracy without teeth.

    Do something with problems that you know exist. Quit creating new problems.

  • Matt

    Well what will CFPB do, that I could not otherwise… Nothing

    May be Obama ought to think about enforcing regulations and progrmas already in place. For example, mortgage modification. I can personally attest to the fact that banks have a lot of leeway in deciding whether to modify loans or not I was caught in this with Bank of America. They not only refused to modify my loan, but hiked my payment on the pretext of collecting taxes and insurance, which I did not escrow with them. I am without job and they refused to consider my case bacause I was not facing financial problems, even though I have no job. I guess being frugal is a bad thing.. what will CFPB do for my type Nothing.. I think it is another bureaucracy without teeth.

    Do something with problems that you know exist. Quit creating new problems.

  • Ngjones

    I found Ms. Warren’s testimony to Congress to be informative and rather enlightening. She was poised and graceful, often in the midst of confrontation and hostility. She is certainly the champion needed to enforce consumer protection issues. Keep up the good work….there are many consumer advocates supporting you!

  • Ngjones

    I found Ms. Warren’s testimony to Congress to be informative and rather enlightening. She was poised and graceful, often in the midst of confrontation and hostility. She is certainly the champion needed to enforce consumer protection issues. Keep up the good work….there are many consumer advocates supporting you!

  • Clark Hunsinger

    Two questions (I could find no other way to communicate with you other than adding this comment):
    Will the written report that Ms Warren gave to the Financial Services subcommittee this week be posted at this web site?
    Could you add a direct way to contact CFPB through this web site with general questions and comments?
    (One screen that I found called Let Us Know was not working).

    Thank you.

  • Clark Hunsinger

    Two questions (I could find no other way to communicate with you other than adding this comment):
    Will the written report that Ms Warren gave to the Financial Services subcommittee this week be posted at this web site?
    Could you add a direct way to contact CFPB through this web site with general questions and comments?
    (One screen that I found called Let Us Know was not working).

    Thank you.

  • Rklag

    Good Luck. There will be a lot of detractors. Please add student loans to your mission. It is impossible to see how providing 10′s of thousands of dollars in loans to 17, 18, 19 and 20 years old kids, on their signature, can be a good thing. We don’t even let them drink beer.

    • Get A Job

      Think about what you are saying.

      Most students who borrow money are doing so to pay for tuition, books, supplies, and other expenses associated with obtaining an advanced degree. These degrees will help these students obtain better job and higher compensation over the rest of their lives.

      Many students, and their parents, are not financially capable of drawing funds from savings and other sources to pay for these expenses. These families and students need the support student loans can provide in order to finance an education.

      So yes, obtaining a student loan, can be a good thing.

      If you restrict the sources and types of loans that can be made to students, you will likely be denying an education to many individuals.

      If I want to finance, as you say, “10′s of thousands of dollars” to improve my education and my chances to earn a good income, that is my choice. Not yours. What gives you the right to decide what is good for me?

      If students are not able to obtain loans for educational purposes, how do you propose educations be funded? Obviously, colleges and universities cannot give them away for free, nor can the government provide a free education to everyone who wants one.

      Please, stay out of my wallet and don’t interfere with my options.

    • Get A Job

      Think about what you are saying.

      Most students who borrow money are doing so to pay for tuition, books, supplies, and other expenses associated with obtaining an advanced degree. These degrees will help these students obtain better job and higher compensation over the rest of their lives.

      Many students, and their parents, are not financially capable of drawing funds from savings and other sources to pay for these expenses. These families and students need the support student loans can provide in order to finance an education.

      So yes, obtaining a student loan, can be a good thing.

      If you restrict the sources and types of loans that can be made to students, you will likely be denying an education to many individuals.

      If I want to finance, as you say, “10′s of thousands of dollars” to improve my education and my chances to earn a good income, that is my choice. Not yours. What gives you the right to decide what is good for me?

      If students are not able to obtain loans for educational purposes, how do you propose educations be funded? Obviously, colleges and universities cannot give them away for free, nor can the government provide a free education to everyone who wants one.

      Please, stay out of my wallet and don’t interfere with my options.

  • Rklag

    Good Luck. There will be a lot of detractors. Please add student loans to your mission. It is impossible to see how providing 10′s of thousands of dollars in loans to 17, 18, 19 and 20 years old kids, on their signature, can be a good thing. We don’t even let them drink beer.

  • Phhortress

    Keep up the good work! A recess appointment would be sweet. Also – where is the appointment book for March?

    I run a commercial loan dept for a community bank and we (and our customers) are paying dearly for the big bank and Wall St. abuses that led to the financial meltdown and subsequent destruction of home values and net worth. We have just witnessed (and continue to witness) the results of one of the largest transfers of wealth from the middle class to Wall St. I don’t want the government in my life any more than some of you, but most people need protection from big banks and Wall St. They will screw you and you will have no idea what happened until it is long over.

    • Get A Job

      Isn’t this ironic. On a blog promoting transparency for the CFPB a suggestion is made for a recess appointment for Ms. Warren.

      That would be classic DC politics and bureaucracy at work. And at an agency falsely promoting itself as transparent, open and “always sunny”.

      I certainly hope there is not an effort to slide in Ms. Warren under the radar, to avoid the scrutiny and open discussion of her past record and views.

      This is a democracy. Warren should have to go through the Senate approval process like other leading officials. Why should Warren receive any special treatment? If she is going to be the consumer’s watchdog, we should have the right to full disclosure from Ms. Warren.

      It would be hypocritical to have her leading an agency requiring full disclosure from financial institutions while exempted from that same requirement herself.

      In fact, we should demand complete and full disclosure from Ms. Warren in order for her to have credibility to lead the CFPB.

      The posts here never cease to amaze me.

    • Get A Job

      Isn’t this ironic. On a blog promoting transparency for the CFPB a suggestion is made for a recess appointment for Ms. Warren.

      That would be classic DC politics and bureaucracy at work. And at an agency falsely promoting itself as transparent, open and “always sunny”.

      I certainly hope there is not an effort to slide in Ms. Warren under the radar, to avoid the scrutiny and open discussion of her past record and views.

      This is a democracy. Warren should have to go through the Senate approval process like other leading officials. Why should Warren receive any special treatment? If she is going to be the consumer’s watchdog, we should have the right to full disclosure from Ms. Warren.

      It would be hypocritical to have her leading an agency requiring full disclosure from financial institutions while exempted from that same requirement herself.

      In fact, we should demand complete and full disclosure from Ms. Warren in order for her to have credibility to lead the CFPB.

      The posts here never cease to amaze me.

    • Get A Job

      I would love to hear how your bank and it’s customers are paying dearly for big bank and Wall Street abuses.

      Can you provide the details of what those abuses were in specific terms?

      And, please explain how wealth was transferred from the middle class to Wall Street.

      I happen to believe a great deal of wealth was destroyed, not transferred.

      And if you think your community bank will be spared the rigors of complying with new CFPB regulations and requirements, you must be operating your bank in Fantasyland. Believe me, your bank will be less able to afford the additional regulatory costs than the large banks.

    • Get A Job

      I would love to hear how your bank and it’s customers are paying dearly for big bank and Wall Street abuses.

      Can you provide the details of what those abuses were in specific terms?

      And, please explain how wealth was transferred from the middle class to Wall Street.

      I happen to believe a great deal of wealth was destroyed, not transferred.

      And if you think your community bank will be spared the rigors of complying with new CFPB regulations and requirements, you must be operating your bank in Fantasyland. Believe me, your bank will be less able to afford the additional regulatory costs than the large banks.

  • Phhortress

    Keep up the good work! A recess appointment would be sweet. Also – where is the appointment book for March?

    I run a commercial loan dept for a community bank and we (and our customers) are paying dearly for the big bank and Wall St. abuses that led to the financial meltdown and subsequent destruction of home values and net worth. We have just witnessed (and continue to witness) the results of one of the largest transfers of wealth from the middle class to Wall St. I don’t want the government in my life any more than some of you, but most people need protection from big banks and Wall St. They will screw you and you will have no idea what happened until it is long over.

  • Anonymous

    I fully support Elizabeth Warren. Her testimony last week showed and showed her excellent qualifications as she consistently responded to the Republican attacks and ran circles around her questioners.

    See the New York Editorial: http://www.nytimes.com/2011/03/21/opinion/21krugman.html?_r=1

  • Anonymous

    I fully support Elizabeth Warren. Her testimony last week showed and showed her excellent qualifications as she consistently responded to the Republican attacks and ran circles around her questioners.

    See the New York Editorial: http://www.nytimes.com/2011/03/21/opinion/21krugman.html?_r=1

  • Anonymous

    If you have any doubts about the need for CFPB and Elizabet Warren’s strong leadership, you should see the Academy Award winning documentary “INSIDE JOB”

  • Anonymous

    If you have any doubts about the need for CFPB and Elizabet Warren’s strong leadership, you should see the Academy Award winning documentary “INSIDE JOB”

  • http://twitter.com/pezro Pavel

    Ever since the announcement of the CFPB we’ve seen the end of “free” checking and other features that have existed for years. What kind of private sector experience do you have? Have you ever run a business? Have you ever had to meet a payroll? Have you ever dealt with the 170,000+ regulations ALREADY on the books? Huh? Can’t hear you other the slobbering of that moron Krugman.

  • http://twitter.com/pezro Pavel

    Ever since the announcement of the CFPB we’ve seen the end of “free” checking and other features that have existed for years. What kind of private sector experience do you have? Have you ever run a business? Have you ever had to meet a payroll? Have you ever dealt with the 170,000+ regulations ALREADY on the books? Huh? Can’t hear you other the slobbering of that moron Krugman.

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