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A good ole finger wag oughta learn em to not be professional fraudsters. Yeah. Worked real well with all the non-binding suggestions put in to law post-2008 ban

by andirk 4y ago

A good ole finger wag oughta learn em to not be professional fraudsters. Yeah. Worked real well with all the non-binding suggestions put in to law post-2008 banker scams.

ceejayoz 4y ago
We're just gonna pretend Warren didn't propose and found the CFPB, are we?
- lotsofpulp 4y ago
  CFPB is amazing. I had an employer sponsored HSA account from PNC, and PNC reps were giving me the run around about transferring money to another HSA custodian. Sent one message on CFPB website describing my problem, and the next day I got a call from a “VP” at PNC letting me know my issue was resolved. A simple matter that could have been solved if PNC had intended their customer service agents to actually solve my problem, but I assume was left unaddressed because transferring funds out is not of any benefit to PNC.
  - hangonhn 4y ago
    I had a similar experience with the California PUC. Sprint raised the texting rate so I tried to cancel my plan. Their service rep wanted to charge me for breaking my contract but I pointed out that any material change to my contract is grounds for breaking the contract -- basically Sprint broke the contact first. The rep tried to offer me another plan that gives me a similar rate but would entail me signing onto the new plan. I argued that wasn't acceptable. He refused to budge and kept saying because he offered me another plan it's not material change, which is total BS. I finally called the California PUC. They routed my call to Sprint's Executive service line and 5 minutes later I was free from the contract and got to keep my phone. Without a body like the PUC the power is entirely in the hands of the big corporations. The cost (in time and/or money) for me to fight Sprint legally is going to be more than the contract was worth but it's still something. I'm sure that's all part of their calculus.
  - formerkrogemp 4y ago
    > CFPB is amazing. I agree. I just worry that the current Supreme Court would gut the bureau and similar, pro-consumer bodies. https://www.whitecase.com/insight-alert/us-supreme-court-rules-cfpbs-leadership-structure-unconstitutional-leaves-cfpb-intact https://www.whitecase.com/insight-alert/us-supreme-court-rul...
- andirk 4y ago
  She did and has done a handful of other great things from her Senate seat. She also does very strong finger wags with the rest of them. Not aware of my denial of said org. Can you please quote? Or did you just do a strong finger wag at me :) I want to add a rule to Senate/House committee procedures that you can't say a damn thing that isn't followed up with action. Their job is to VOTE on shit, not give their opinion.
- culi 4y ago
  CFPB is one of the few departments in government that are actually incredibly functional. Probably one of the best things to come out of American governance in a long time
eftychis 4y ago
Yeah. If the only bank they had prosecuted wasn't tiny Abacus, with its excellent low delinquency rate, they could "learn em." When governments' motto became "too big to fail," they lost every right. And they signaled even banks not doing it, that it is a good idea to do so.

by andirk 4y ago

A good ole finger wag oughta learn em to not be professional fraudsters. Yeah. Worked real well with all the non-binding suggestions put in to law post-2008 banker scams.

ceejayoz 4y ago

We're just gonna pretend Warren didn't propose and found the CFPB, are we?

lotsofpulp 4y ago
CFPB is amazing. I had an employer sponsored HSA account from PNC, and PNC reps were giving me the run around about transferring money to another HSA custodian. Sent one message on CFPB website describing my problem, and the next day I got a call from a “VP” at PNC letting me know my issue was resolved. A simple matter that could have been solved if PNC had intended their customer service agents to actually solve my problem, but I assume was left unaddressed because transferring funds out is not of any benefit to PNC.
- hangonhn 4y ago
  I had a similar experience with the California PUC. Sprint raised the texting rate so I tried to cancel my plan. Their service rep wanted to charge me for breaking my contract but I pointed out that any material change to my contract is grounds for breaking the contract -- basically Sprint broke the contact first. The rep tried to offer me another plan that gives me a similar rate but would entail me signing onto the new plan. I argued that wasn't acceptable. He refused to budge and kept saying because he offered me another plan it's not material change, which is total BS. I finally called the California PUC. They routed my call to Sprint's Executive service line and 5 minutes later I was free from the contract and got to keep my phone. Without a body like the PUC the power is entirely in the hands of the big corporations. The cost (in time and/or money) for me to fight Sprint legally is going to be more than the contract was worth but it's still something. I'm sure that's all part of their calculus.
- formerkrogemp 4y ago
  > CFPB is amazing. I agree. I just worry that the current Supreme Court would gut the bureau and similar, pro-consumer bodies. https://www.whitecase.com/insight-alert/us-supreme-court-rules-cfpbs-leadership-structure-unconstitutional-leaves-cfpb-intact https://www.whitecase.com/insight-alert/us-supreme-court-rul...
andirk 4y ago
She did and has done a handful of other great things from her Senate seat. She also does very strong finger wags with the rest of them. Not aware of my denial of said org. Can you please quote? Or did you just do a strong finger wag at me :) I want to add a rule to Senate/House committee procedures that you can't say a damn thing that isn't followed up with action. Their job is to VOTE on shit, not give their opinion.
culi 4y ago
CFPB is one of the few departments in government that are actually incredibly functional. Probably one of the best things to come out of American governance in a long time

eftychis 4y ago

Yeah. If the only bank they had prosecuted wasn't tiny Abacus, with its excellent low delinquency rate, they could "learn em." When governments' motto became "too big to fail," they lost every right. And they signaled even banks not doing it, that it is a good idea to do so.