The New Labor Forum has launched a bi-weekly newsletter on current topics in labor, curated by the some of the most insightful scholars and activists in the labor world today. Check out some highlights from the latest edition below.
One of the major accomplishments of Democrats and financial reformers during the Obama Administration was the creation of the Consumer Financial Protection Bureau (CFPB). Like Dodd-Frank which authorized its creation, the CFPB was a response to the financial meltdown of 2007-8. It sought to close regulatory gaps that allowed banks and corporations to prey on consumers. New Labor Forum columnist Max Fraser writes in the January 2017 issue about what had been a set of frustrated Congressional efforts to dismantle the bureau and the business interests backing those efforts. Now that Donald Trump and a solidly Republican Congressional majority have assumed control of the government, the Consumer Financial Protection Bureau is firmly on the chopping block. Fraser’s investigative reporting reveals the Congressional and Wall Street actors behind its demise.
We also offer an update on the state of play regarding the most recent efforts to take down the CFPB in Congress since the election, and an excellent overview of what the CFPB actually does from LifeHacker, written for a general audience.
With the general trend of increasing cooperation between Wall Street interests and the Trump Administration in the news, activists and consumer advocates in Washington have taken to the streets. On Valentine’s Day, a coalition held a mock wedding in our nation’s capitol to highlight the cozy relationship between Wall Street and Washington. Bernie Sanders spoke and we provide the video of that event, courtesy of act.tv.
Table of Contents
- Gutting the Consumer Financial Protection Bureau / Max Fraser
- The Assault on the CFPB: Current State of Play / Charles Lenchner
- What is the CFPB and What Does It Offer Consumers? / Kristen Wong
- Video: Washington DC Protest against the Financial Industry / Act.tv