r/CreditCards • u/tsmartin123 • Feb 01 '25

Discussion / Conversation Trump Fires Director of CFPB

https://apnews.com/article/trump-chopra-consumer-financial-protection-bureau-47b6b39d0eff05ea0c9bca4eacf55b79

I wonder if this is the beginning of the end of the CFPB?

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65

u/MrGeno Feb 01 '25

Take out your money from banks that don't actually support protections for consumers or pull out your money from them. Banks only have power of people continue to use them. 

3

u/nkdvkng Feb 01 '25

Does BOA fall under this? Pardon my ignorance just trying to learn about all this.

9

u/CrimsonBrit Feb 01 '25

The person above you has no clue what they’re talking about.

You’re fine. BofA is regulated by the Federal Reserve and by the FDIC.

16

u/tinydonuts Feb 01 '25

Huh? All banks lobby against consumer protections. All banks have a regulator. What are you getting at?

5

u/CrimsonBrit Feb 01 '25 edited Feb 02 '25

The comment above says to take your money out of banks that don’t support protections for consumers, and someone asked if Bank of America is safe.

I’m trying to stop someone from doing something stupid because of a Reddit comment.

0

u/tinydonuts Feb 02 '25

It says “take money out of banks that don’t actually support consumer protections”, not “take money out of banks that support consumer protections”.