Consumer Financial Protection Bureau: Hero or Goat?

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Image-for-WWLA.jpgYesterday, the Consumer Financial Protection Bureau took its first major enforcement action since it began operating a year ago, ordering Capital One Bank to refund about $150 million to two million credit card customers. Bureau Director Richard Cordray says Capital One's telephone vendors used deceptive marketing to sell add-ons like credit monitoring and debt protection.  Americans have lost confidence in banks and credit card companies. Is government protection against predatory lending the answer? As the new Consumer Financial Protection Bureau takes its first major action, will it make things better or worse?

Credits

Guests:
John Gravois - Pacific-Standard magazine - @johngravois, Stephen Moore - Heritage Foundation - @StephenMoore, Pamela Banks - Consumers Union - @consumersunion, Amar Bhide - Tufts University - @amar_bhide

Host:
Warren Olney

Producers:
Katie Cooper, Christian Bordal, Evan George