Eliminating the Consumer Financial Protection Bureau?

[Smit]

Why would a bank give a loan to people who they know are unqualified?

That doesn't even make good business sense.

Curious indeed.

[Del.]

Why would a bank give a loan to people who they know are unqualified?

That doesn't even make good business sense.

Curious indeed.

If they are federal loans, they reduce the requirement needed for a loan like credit score, debt ratio etc.

[Del.]

Personally I hate banks and would be fine if they didn't exist.

[Del.]

I told my banker his job could be replaced by a phone app. 😂

[neurosis]

I know reforms have been talked about but I don't know if anything has come of it.

The CFPB created several rules and regulations regarding payday lending. I'm not sure what would happen to them if the Agency is dismantled? Maybe nothing?

This is another instance where the small government guys are going to tell you that the Federal Government isn't there to protect you from yourself. Are they right? Probably?

[Smit]

This is another instance where the small government guys are going to tell you that the Federal Government isn't there to protect you from yourself.

I know the small government guys are going to say that. And in Reko's perfect world where everybody always does the right thing they would be right.

But we don't live in Reko's perfect world where everybody always does the right thing. Like it or not, there are many protections for the working man provided by government, both state and federal, that have made this the great country it has been.

Otherwise we'd all live in thrall to the robber barons of the 19th century. Those guys sucked, and gave not one fuck about Reko's perfect world. 

[SuperHoneyBadger]

I know the small government guys are going to say that. And in Reko's perfect world where everybody always does the right thing they would be right.

The political Oroboros incarnate: hardline, true-to-the-letter Marxism would work if this were true as well.

[Smit]

The political Oroboros incarnate: hardline, true-to-the-letter Marxism would work if this were true as well.

I agree 100%. In a perfect world capitalism, socialism, and communism would all probably work just fine.

I told Reko as much but he could only understand the perfect capitalistic world he made up in his own mind.

Or he was just trolling. I never knew for sure.

[DUM1]

I told my banker his job could be replaced by a phone app. 😂

just did that same thing 2 weeks ago , trying to get over $5000 cash from my account

[mowens]

Or he was just trolling. I never knew for sure.

Charities will take care of the helpless and disabled. Or they'll die. Either way, problem solved.

[neurosis]

Charities will take care of the helpless and disabled. Or they'll die. Either way, problem solved.

Reko did more to move me away from Conservative thinking than just about anyone else I've ever met.   Some of it had to do with those conversations.

[Newbeeee™]

UK has similar "protection agencies" called Oftel (telecon), Ofwat (Water) Ofgen (electric) etc.
Not one is worth a wank (quaint British phrase )
All are Gov controlled albeit "officially independent" approving price rises etc and taking no action when the cartel of companies do exactly what they want.
Everywhere has a system in place to look like there's people protection, but as always, we're all on our own.

[Newbeeee™]

Reko did more to move me away from Conservative thinking than just about anyone else I've ever met.   Some of it had to do with those conversations.

Yet on the dump the forum thread, everyone is saying no one changes their mind....

[Newbeeee™]

just did that same thing 2 weeks ago , trying to get over $5000 cash from my account

They don't like giving it back.
And certainly in the UK, while it's in the bank, it is the bank's legal ownership, not ours....

[CNCAppsJames]

I find it comical that the "you can't legislate morality" crowd seem to be the biggest proponents of legislation, systems and ideas.... that attempt to do precisely that.

IOW... Stalin, Mao, Pol Pot, Che, Castro... they just did it wrong. Just give our Democratic Socialism a try, we'll get it right we promise.  Cross our hearts. Mmmm Hmmmm. It'll be different this time we swear... pinky swear.