CEDAR RAPIDS, Iowa (KCRG) – The Great Recession of 2008 led to significant changes for big banks. Now, the Trump administration is working to dismantle one of the key watchdogs of financial services institutions, the Consumer Financial Protection Bureau, or CFPB. A federal judge is now intervening.
U.S. District Judge Amy Berman Jackson, concerned that the CFPB might be “choked out of its very existence,” will hold a hearing on Monday, March 10, where agency officials will testify about its future. You can read more about this hearing by clicking/tapping here.
Potential consumer impacts if the CFPB shuts down
TV9 spoke with Kimberly Palmer, a personal finance expert at NerdWallet. She said that if the CFPB shuts down, people could lose protections against things like scams and a key resource for filing complaints. However, she also mentioned other avenues.
“For example, you can…
