By Jonathan O’Brien – WSB Radio
The local consumer advocacy group Georgia Watch is calling on Congress to safeguard the Consumer Financial Protection Bureau (CFPB) from plans to weaken its authority.
The Consumer Financial Protection Bureau was established following the 2008 financial crisis. According to Liz Coyle, Executive Director of Georgia Watch, the agency protects everyone from financial threats by predatory lenders to errors with your credit.
Since 2015, more than half a million complaints have been filed with the agency from Georgians.
They say efforts to defund or restructure the agency pose a significant threat to essential consumer protections. This can leave countless individuals exposed to financial harm and exploitation.
The planned firing of agency staff is on hold during a pending legal challenge.
