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Ten years ago today, I ran out of a hearing, jumped into @SenatorDurbin’s car, & we raced as fast as we could across town to watch President @BarackObama sign the Dodd-Frank Wall Street reform bill into law. I'll never forget it – because that's how the @CFPB was born.
I talk & tweet about the @CFPB every chance I get because I'm proud of that new agency. It has handled more than 2 million complaints & returned billions back into the pockets of Americans cheated by big banks & financial institutions. That’s government that works for the people.
Things aren't easy at the @CFPB right now. @MickMulvaneyOMB & @CFPBDirector Kraninger gutted the office that fights lending discrimination & have given the green light for payday lenders to trap consumers in cycles of debt.
Here’s the way I see it: before the ink from President @BarackObama's pens were dry, Wall Street’s army of lawyers & lobbyists were already out to kill the agency. Trump’s team has spent 3+ years trying their hardest to break it. But the @CFPB is still here & here to stay.
We wouldn’t have a strong @CFPB today without President @BarackObama & Vice President @JoeBiden. They believed in my idea for the agency, fought to keep it in the bill, and helped to get it across the finish line. I’m eternally grateful their leadership.
We also wouldn’t have a strong @CFPB without people like you. The financial industry spent $1 million a day fighting Wall Street reform – especially the agency. But people & groups all across the country jumped into the fight & made their voices heard. And it made a difference.
Our democracy has been beaten up badly. But when people ask me why I’m still hopeful that we can make real change, I remind them of what happened 10 years ago today. We took on an impossible David vs Goliath fight to hold Wall Street accountable – and won. And we can do it again.
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