Many consumers feel cheated or mistreated when engaging with credit cards, mortgages, and loans, but do not have the resources or expertise to fight back on their own. When these increasingly one-sided finance markets blew up the economy in 2008, Congress created the Consumer Financial Protection Bureau to safeguard the marketplace and enforce consumer protections. Richard Cordray, former Director of the CFPB, joins us with stories of the individual consumers whose interests the Bureau represented—and the ways the agency made a difference in the lives of Americans.
Cordray draws from his book Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy, telling a hopeful story of a time when our economic system was overhauled to fit the needs of the people. He recalls critical moments where the agency fought to preserve the rights of the consumer—simplifying mortgage paperwork, putting limits on predatory lenders, and stepping in to help solve problems suing big banks for cheating or deceiving consumers. Join Cordray for a discussion of the fight to establish a new baseline of economic fairness in our democratic society.
Cordray will also answer questions about the effects of the COVID-19 crisis on consumers and what can be done to protect them in these challenging times.
Richard Cordray is a lawyer, politician, and former Director of the Consumer Financial Protection Bureau. He also served as the Attorney General, Solicitor General, and Treasurer of Ohio, and was the Democratic nominee for Governor of Ohio in 2018.
Presented by Town Hall Seattle.