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Consider This from NPR
The CFPB On Trial
Oct 3, 2023
Scott Horsley, NPR's chief economics correspondent and former White House reporter, dives into the critical Supreme Court case that could reshape the Consumer Financial Protection Bureau (CFPB). He discusses the CFPB's origins after the 2008 financial crisis and its role in protecting consumers from predatory lending. The conversation highlights the legal concerns surrounding the agency's funding structure and the challenges it faces from payday lenders. Horsley vividly illustrates the stakes involved for both consumers and the future of financial regulation.
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Quick takeaways
- The Supreme Court case against the CFPB's funding mechanism threatens the agency's existence and could have implications for other government agencies.
- Despite being a subject of political attacks, the CFPB remains popular among the American public and has recovered billions of dollars for consumers.
Deep dives
The Importance of the Consumer Financial Protection Bureau (CFPB)
The podcast discusses the role and importance of the Consumer Financial Protection Bureau (CFPB). The CFPB was founded in 2011, designed to protect consumers from unfair financial practices. It handles thousands of complaints every day, providing responsive assistance to individuals facing financial issues. The CFPB's existence has been under attack from Republicans, who believe it operates without accountability. The Supreme Court recently heard a case that could potentially threaten the future of the CFPB.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode