Consumer Bureau Finds Support on Its First Day

[ProSense]

Consumer Bureau Finds Support on Its First Day

BY BEN PROTESS

The Consumer Financial Protection Bureau formally opened for business on Thursday, much to the consternation of Congressional Republicans.

But as conservative lawmakers step up their attacks on the new regulator, aiming to undermine its structure and authority, champions of the bureau are pushing back.

Consumer groups released a new opinion poll this week that showed broad public support for the bureau. And on Thursday, advocacy organizations issued a report detailing “ten reasons we need the Consumer Financial Protection Bureau now.”

<...>

“Congress shouldn’t forget that a lack of consumer protection led to the Wall Street-led collapse of the economy and only a consumer cop on the beat can protect consumers from it happening again,” Ed Mierzwinski, the report’s author and the consumer program director of the U.S. Public Interest Research Groups, said in a statement. “This report is particularly timely because there are serious efforts to undermine the C.F.P.B. on Capitol Hill.”

more

[ProSense]

1. No comment? n/t

[young but wise]

2. It's good news.

[RaleighNCDUer]

3. It was a great idea, and remains a great idea -

but it is the first fucking day and they have not DONE anything yet, so you might want to save the cheerleading.

The right has already stopped the most capable person from heading it, and the the head still will report to Geitner, to it remains to be seen if it actually has ANY clout.

[ProSense]

5. Hmmmm?

"but it is the first fucking day and they have not DONE anything yet, so you might want to save the cheerleading."

If posting the OP is considered "cheerleading," I'll "fucking" cheerlead. You might want to stop characterizing every "fucking" positive news as "cheerleading." Otherwise, feel free to ignore whatever you perceive as "cheerleading."

[RaleighNCDUer]

7. Count chickens, not eggs. This is an egg. nt

[hatrack]

4. It's too early - we need to wait and see what actually happens. . . .

nt

[ProSense]

6. It's too early

to to report on this poll and report, and the fact that Republicans are trying to destroy it?

Really?