Saturday Reverie

Created
Sun, 19/05/2024 - 00:30
Updated
Sun, 19/05/2024 - 00:30
A few items lost in the fog The New Republic has posted a 9-article special issue, “What American Fascism Would Look Like.” It’s just popped up and I won’t have time to study it until later. Not, at least, until I’ve had another cup of coffee. Heads up. “The Consumer Financial Protection Bureau plans to restart its aggressive crackdown against payday lenders and other companies that offer high-cost, short-term loans to poor borrowers, after a Supreme Court ruling this week resolved a challenge to the federal agency’s authority to act,” reports The Washington Post. Yes, that Supreme Court. The CFPB’s mom was more than pleased: “The CFPB is here to stay. In a 7-2 decision, the Supreme Court followed the law and confirmed that the CFPB’s funding structure is constitutional. For the last decade, the consumer agency has fought the big banks and predatory lenders that try to cheat hardworking people. As of this week, the CFPB has returned more than $20 billion in ill-gotten funds to American families. This isn’t the last attack on the CFPB we’ll see from Wall Street, the banks, and their Republican allies. When an agency is this effective at sticking up for working families against industry’s consumer abuses, it’s an obvious target for multi-million dollar lobbying campaigns. The CFPB will keep on doing its work to slash junk fees, fight giant banks when they cheat people, and level the playing field for everyone in this country. I commend Director Chopra for his leadership, the…