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DougHolland@lemmy.world

With the Consumer Financial Protection Bureau shuttered, there is no longer any federal enforcement of rules for financial products (www.thebignewsletter.com)

submitted 3 days ago by DougHolland@lemmy.world to c/aiop@lemmy.world

7 comments fedilink hide all child comments

... Let’s start with some of the small stuff that will now change. Rules against excessive overdraft fees? Gone. A rule capping credit card late fees? Gone. Oversight of debt collectors and payday lenders? No more. An honest site to compare credit card products? Likely gone...

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[–] modifier@lemmy.ca 15 points 2 days ago (1 children)

Bracing for all of the financial services companies to vigorously self-regulate in an attempt to compete for consumer goodwill.

Aaaaaaaany minute now. Just watch.

Aaaaany minute.

[–] shoo@lemmy.world 5 points 2 days ago

Come on everyone! If we clap real hard the Free Market Fairy will come back to life! 🧚‍♀️💸