News Release

What Could Possibly Go Wrong?

Our Statement on House Passage of Wrong Choice Act, Dismantles CFPB, Repeals Dodd-Frank
For Immediate Release

The following statement can be attributed to Ed Mierzwinski, Consumer Program Director at U.S. PIRG.

“What Could Possibly Go Wrong If Wall Street Banks and Predatory Payday Lenders Are Allowed to Run Amok Again?”

“Today, the U.S. House, on a nearly party-line vote, approved HR10, the Financial Choice Act, which is the Wrong Choice for all of us who aren’t Wall Street banks or predatory lenders and would gut the Consumer Financial Protection Bureau, or CFPB.

The bill would leave the successful CFPB as an unrecognizable husk incapable of doing its job to protect consumers, homeowners, older Americans, students, servicemembers and veterans. It would also repeal most Dodd-Frank protections enacted to prevent big Wall Street banks and other players from recklessly bringing on another financial collapse.

What could possibly go wrong if Wall Street banks and predatory payday lenders are allowed to run amok again?”

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U.S. PIRG is the federation of state Public Interest Research Groups.  PIRGs are non-profit, non-partisan public interest advocacy organizations that stand up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society. On the web at www.uspirg.org.

DEFEND THE CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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