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How Mulvaney’s playing Russian roulette with Consumer Bureau

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San Jose Mercury News: Letters To The Editor

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Categories:Letters to the EditorOpinion

Mulvaney’s Russian roulette game with Consumer bureau

 

Re: “Mulvaney fires all 25 members of consumer watchdog advisory board” (Page A4, June 7):

I read with interest your news article regarding the firing of the Consumer Finance Protection Bureau Consumer Advisory Board (CAB). This CAB termination reminds me of a patient who stops following a doctors instructions. The patient is now playing Russian roulette; they will likely deteriorate in health and possibly die as a result.

The U.S. economy went through a “near-death” experience in the 2008 financial crisis. American taxpayers were traumatized and lost trillions of dollars. Protection tools like the CAB were put in place to “check up” on the health and wellness of the financial sector. The CAB dismantling now being done by Mr. Mulvaney is in direct conflict with commonly known best business practices in areas of risk management, controls, situational approach and so on. The “doctor’s orders” are being ignored.

A dangerous game of Russian roulette has started. Tell your elected officials how you feel about this.

Walter Brown
Urban Financial Services Coalition
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