Monday, June 12, 2017

The LuLac Edition #3530, June 12th, 2017

Then Congressman Paul Kanjorski along with other Congressional Leaders back in 2009 trying to stop the Great Recession started by reckless REPUBLICAN and Corporate policies 
Photo: LuLac archives) 
The Trump administration is coming after the Consumer Finance and Protection Agency. This agency was set up after the financial meltdown in 2008 to protect consumers from predatory loans and credit card companies that preyed on customers. Back then credit card companies could almost triple your next payment with late fees if you were late paying your card. Now I’m all for late fees, if you miss the financial institution is entitled to some form of compensation. But companies back then were raping consumers.
I have a friend who got a credit card with a $250.00 limit. She used it once for gas and then essentially stuck it back in her wallet and didn’t use it again. The bill came, she missed it and what would have been a $15.00 payment ballooned into a late fee of $175. That was just wrong.
Trump’s budget proposal lists its “justification” for the cuts, including stating that the CFPB needs to be reined in and prevented from engaging in “activism.”
Activism on behalf of consumers getting screwed? This is all you need to know about THE REPUBLICAN party.
Here’s how the Trump budget proposal justifies the cuts to the CFPB’s budget:
“Restructuring the CFPB to refocus its efforts on enforcing enacted consumer protection laws is a necessary first step to scale back harmful regulatory impositions and prevent future regulatory hurdles that stunt economic growth and ultimately hurt the consumers that CFPB was originally created to protect. Furthermore, subjecting the reformed Agency to the appropriations process would provide the oversight necessary to impose financial discipline and prevent future overreach of the Agency into consumer advocacy and activism.”
Let me remind the people who are buying this that these protections were put in place after the great financial collapse of 2008. There was an economic recovery but greedy corporations decided they just need more.
This Trump budget reflects efforts by Congressional REPUBLICANS to scale back Wall Street reform and take us back to the bad old days of weak oversight, lax enforcement and taxpayer bailouts. If they succeed in terminating the Consumer Financial Protection Bureau, the only federal agency with the sole purpose of protecting consumers, that will once again expose communities across the country to predatory financial institutions. 
As Congressman Kanjorski used to say, "Regulations are in place for that 5% of people who don't, or won't do the right thing!" (LuLac, Business Insider)


Congressman Matt Cartwright (Photo: LuLac archives)

Today the U.S. House of Representatives unanimously passed a bill introduced by U.S. Representatives Matt Cartwright and Peter Welch (VT-AL) to improve energy efficiency. The Streamlining Energy Efficiency for Schools Act (H.R. 627) provides a coordinating structure to help schools better navigate available federal programs and financing options. This legislation also unanimously passed the House in both 2014 and 2016.
The Streamlining Energy Efficiency Act would establish the Department of Energy as the lead agency in coordinating a cross-departmental effort to help initiate, develop, and finance energy efficiency, renewable energy, and retrofitting projects for schools.
“This is a commonsense, cost-saving bill that establishes an efficient one-stop shop for schools and directly benefits children, school employees, and the environment,” said Rep. Cartwright. “This legislation will streamline the federal government’s programs and processes for school energy assistance, while still leaving decisions to states, school boards, and local officials about how best to meet the energy needs of schools. I look forward to working with my colleagues in the Senate to quickly pass this legislation.”
An estimated 14 million American children attend public school in a deteriorating building. Many of these schools’ problems involve the heating, ventilating, and air-conditioning systems. According to a Department of Education survey, 43 percent of schools indicated that the poor condition of their facilities interferes with the delivery of instruction. By upgrading these systems, energy efficiency is increased, learning environments are improved, and scarce funds are conserved.
“By streamlining existing programs and cutting red tape, our bill will help save energy and cut energy bills for school systems around the country,” said Rep. Welch. “We have made undeniable progress on energy efficiency in a bipartisan way, and I’m pleased to work with Rep. Cartwright to get this commonsense bill signed into law.”
Senator Susan Collins (R-ME) introduced companion legislation in the Senate.


Post a Comment

<< Home