The Foreclosure Podcast

The State of the CFPB w/ attorney Jason Billick


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The Consumer Financial Protection Bureau (CFPB) was created in the aftermath of the 2008 financial crisis to protect consumers from unfair, deceptive, or abusive practices in the financial industry. It was established under the Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law by President Barack Obama on July 21, 2010. The Bureau officially opened its doors on July 21, 2011.
The idea for the CFPB was first proposed by Elizabeth Warren, then a Harvard Law professor, who argued that consumers needed a single federal agency to enforce financial protection laws—similar to how the Consumer Product Safety Commission safeguards physical goods. Before the CFPB, oversight was scattered across multiple agencies, allowing predatory lending and opaque credit practices to flourish, particularly in the mortgage market.
The CFPB has been radically undermined by the Trump Administration. Will it return when a Democrat returns to the White House? Attorney Jason Billick and realtor Bryan Treat discuss.
Contact Jason Billick at http://abdmlaw.com/attorney_billick/Contact Bryan Treat at https://orchard.com/agent/bryan-treat
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