When it was first created, the Consumer Financial Protection Bureau (or CFPB) was supposed to help people stay out of debt. One of their first steps was to increase regulation of the lending industry. Opponents of the CFPB says these new regulations have hurt private lending, which in turn has impacted the American working class.
President Trump wants to take power away from the CFPB. This will lower the amount of restrictions and red tape placed upon lending companies, which will give them greater freedom to loan money.
Will this movie actually help people, or just give more power to banks and lenders? (more…)