Description
It definitely doesn't have a catchy name: The Consumer Financial Protection Bureau. But our guest this week says, "if you're returning almost $20 billion to ordinary people, you've got to be doing something right".
In the past several years, dissatisfied and frustrated Texas consumers have comprised the most---or second most---number of people turning to the CFPB for help taking on 'Big Finance'. But now the agency they counted on is itself in danger under Trump 2.0.
UT-Austin Banking, Financial, Commercial and Corporate Law Professor Angela Littwin previously wrote an opinion column about saving the CFPB when its survival was threatened before. She joins us to talk about what its demise would mean for Texans.
Guest:
Angela K. Littwin
Charles Sapp Chair in Banking, Financial, Commercial and Corporate Law Professor
0:29 - Welcome and update from previous episode
2:28 - Consumer Financial Protection Bureau website (CFPB) is offline
6:30 - Professor Littwin joins the podcast
7:12 - What to know about CFPB
10:21 - Problems CFPB takes on
12:25 - The end of CFPB?
14:32 - How does CFPB affect you
16:24 - $19.7 billion returned to consumers thanks to CFPB
18:38 - Medical debt on credit reports
21:52 - David vs. Goliath
22:58 - Why was CFPB created?
24:33 - Number of complaints to CFPB from Texas
30:58 - Elon Musk and CFPB
34:49 - Takeaways from financial experts
36:48 - Advice from Professor Littwin