Here. Oral openers by the industry witnesses call for the CFPB to become a bipartisan commission without noting that Trump has fired the Democratic FTC commissioners, so that bipartisan really means one party. Meanwhile, former CFPB General Counsel Seth Frotman’s oral opening statement was terrific. His written testimony is here. Here’s an excerpt (footnotes omitted):
● Are you on the side of military families, or the predators who lurk outside the base?
● Are you on the side of parents struggling with error-ridden medical bills, or the debt collectors trying to make a buck on their backs?
● Are you on the side of small business owners, or the modern-day loan sharks who peddle predatory products?
● Are you on the side of seniors and servicemembers who’ve been scammed on payment apps, or the Big Banks and tech Billionaires who turn a blind eye to fraud?
● Are you on the side of people who get “debanked,” or the financial institutions that fight like hell to keep doing it?
