Letter to the editor

Letter: Agency needs to be protected

Posted

July 21 was the birthday of the Consumer Financial Protection Bureau. The CFPB is a federal agency with the sole purpose of protecting the average consumer from being taken advantage of by big banks and financial companies. In the last six years, the CFPB has brought back over 12 billion dollars to consumers in America, and most recently it helped the customers of Wells Fargo fight against consumer fraud. The CFPB is important for every consumer, including our men and women who have served. Since 2011, the CFPB has helped 1,429 Colorado servicemembers. This included things such as debt collection, mortgages and credit scams that afflicted many Colorado residents. A large majority of my family has served in various branches and I will fight for the agency that protects them from being taken advantage of by large financial companies.

Unfortunately, the House recently passed a bill called the Financial CHOICE Act that would severely weaken this agency and its ability to protect citizens with laws that were created in response to the 2008 housing crisis. I urge our senators to stand up for the Consumer Financial Protection Bureau and vote against legislation that would weaken the CFPB's ability to protect those that have served to protect us.

Rachel Harris

Highlands Ranch

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