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Consumers support financial watchdog agency, poll shows

CFPB_1A new poll conducted by Democratic and Republican pollsters shows consumers support the Consumer Financial Protection Bureau. Likely Republican, Independent, and Democratic voters support protections that restore fairness and competition in the marketplace and rein in Wall Street.

Similar attitudes have also been found in the U.S. Public Interest Research Group’s door-to-door campaign to defend the bureau in a dozen cities across the country.

“Reining in Wall Street is not a left-right issue,” said Mike Litt, consumer advocate for the U.S. PIRG. “It’s a big guy-little guy issue. That’s why tens of thousands of Americans from coast to coast have readily signed petitions to defend the CFPB when we knock on their doors.”

The poll, conducted by a bipartisan group of pollsters for the Center for Responsible Lending and the PIRG-backed Americans for Financial Reform, had three main findings:

  • 78 percent of all Americans support more rules for Wall Street banks.
  • This includes 85 percent of Democratic voters, 81 percent of Independent voters, and 67 percent of Republican voters.
  • 80 percent of Democratic voters, 77 percent of Independent voters, and 66 percent of Republican voters fully favor the mission of the bureau.

“It's hard to live the American Dream if bad mortgage and other predatory lenders are allowed to lurk in the marketplace,” said Litt. “Does Congress really want to side with Wall Street at the expense of consumers?”

Copyright 2017, Rita R. Robison, Consumer Specialist

 

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