President ObamaвЂ™s focus on behalf of customers is just a part that is central of legacy. As he took workplace eight years back, our nation was at the midst associated with the worst economic crisis in generations вЂ” an emergency Wall Street built by cheating customers. Dealing with Democrats in Congress, President Obama took a number of important making our system that is financial safer to end the forms of customer abuses that paved the way in which for the crisis. None of these modifications had been larger than the establishment for the customer Financial Protection Bureau (CFPB).
It absolutely was a fight that is tough have the CFPB passed into legislation. The big banks spent more than a million dollars a day lobbying against financial reform as Congress considered whether to create a new consumer agency. However a grassroots community of men and women and companies arrived together and fought straight back, additionally the national government stood securely meant for a stronger, independent customer agency. Now, customers throughout the country know thereвЂ™s an agency in Washington that includes their straight straight back.
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The agency has consistently delivered for working families across the country in the five and a half years since the CFPB has opened its doors.