Left In Lowell

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February 3, 2012

Warrenpalooza

by at 3:20 pm.
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So cool. It looks like Elizabeth Warren’s baby, the Consumer Financial Protection Bureau, is doing a lot of good work (via dkos) for a department in its infancy:

In the first six months of its existence, the CFPB fielded 13,210 complaints from consumers via its phone line and online submission forms, as well as referrals from other regulators, the report said. Of those complaints, 9,307 were tied to credit cards, with another 2,326 pertaining to mortgages.

On credit cards, billing disputes were the most common complaint, totaling 13.7 percent of responses for that financial product. Under the mortgages category, 38.2 percent of complaints deal with a situation where someone is unable to make their mortgage payment.

The team at the CFPB devoted to responding to consumer concerns processes the complaints, and then sends them along to the company that is the subject of the complaint to offer a chance to respond.

So far, a little over half of the complaints received have been settled between the company and the consumer “with relief.” Another 30.6 percent have been settled without a mutually agreed upon remedy, while companies are still reviewing another 11.9 percent.

Remember, this is an agency hobbled by Republicans who prevented Obama from appointing a director until he out of frustration did a recess appointment (arguably, despite the “open session” the Republicans “kept” during the holiday break). It’s an agency which is already somewhat underfunded and under severe attack by Republicans who’d love to totally starve it, if they stay in any sort of power.
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Here’s a personal account of a woman who needed the CFPB’s help, with rave reviews.
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And here is a front-page dkos post outlining how fast Scott Brown is running from his nearly-lockstep Republican voting record. Because, you know, a moment talking to Obama and agreeing with him on politician “insider trading” makes him a total independent/liberal/moderate.

There are two issues here. One is that Scott Brown is running scared from Elizabeth Warren. This is not how it was supposed to play out for Senator 41, the hot new Republican celebrity of the big Republican year of 2010. Massachusetts Democrats were not supposed to be able to find a candidate with a compelling biography, a strong voice on economic issues, exceptional media skills and enormous fundraising ability… But then Elizabeth Warren emerged, and Scott Brown had to start fighting for his political future—and if that means cozying up to Obama, he’ll do it.

Of course, as the post says, the lazy media will probably try to let him get away with that. So we can’t let them do it.

Please, if you can spare some change, donate to Elizabeth Warren via our Lowell for Warren page!!

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