If you watch the teevee in Montana you’ve seen the ads. Another shady right-wing AstroTurf group has been running ’em for a couple of months now attacking the Consumer Financial Protection Bureau (CFPB) with outright lies, shady prevarications and fraudulent rhetoric, while implying that Senator Jon Tester plays a role in supporting this dastardly evil empire.
The CFPB was created in 2010 as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act in response to the “Great Recession” of 2008 with an admittedly malevolent mission “to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace.”
We aim to make consumer financial markets work for consumers, responsible providers, and the economy as a whole. We protect consumers from unfair, deceptive, or abusive practices and take action against companies that break the law. We arm people with the information and stepstools that they need to make smart financial decisions.
Of course the K-Street elite can’t bear the fact that there could actually be a semi-federal agency that stands up for the humble consumer against the righteous power of omnipotent corporations. Knowing that they would be justifiably reviled if they acted blatantly against protection of lowly consumers using their own names, a bunch of financial geniuses created another dark money organization allowing them to never have to reveal their secret identities or take responsibility for their actions.
The CFPB has done such despicable things as requiring mortgage lenders to reveal the full consequences of driving borrowers to high-interest loans, forced mortgage lenders to verify a borrowers’ ability to repay, providing borrowers with a low-cost loan counselor, allowing folks scammed by credit card companies get refunds, and much more. Of course, this devious pro-profit group was also driven to distraction by the fact that the CFPB was the shifty step child of Senator Elizabeth Warren who has been a thorn in the side of the financial industry for decades.
Following the devious and dark deceptions of the Protect America’s Consumers sham group (a group that seems to have no members) is of course a tricky row to hoe, but none of the claims made against the CFPB appear to hold yellow water. The smartly produced video advertisements also serve to raise doubts about the veracity of Democratic Senators (including Tester) that the political nonprofit group targets, and come, coincidentally during a national election cycle.
This and other dark money groups are shielded from disclosure of their members, their activities, or funding. If you prefer that your facts arise from a dark hole in the ground with no attribution, facts or accuracy, please send large amounts of money.