The American Prospect’s heartbreaking CFPB update: looks like a boom for scammers

By Maureen Tkacik and James Baratta, it’s captioned Hardly Workin’. It covers a lot of ground, but here’s one excerpt:

In the meantime, formal entries into the CFPB’s consumer complaints database have soared, suggesting that the business of junk fees, predatory terms, and routine swindles is booming just as loudly as the Prospect has been predicting it would since Elon Musk memorably typed out “CFPB RIP” on X. All told, 2.5 million complaints have flooded into the CFPB over the past six months, roughly a quarter of the total complaints the agency has recorded since its inception in 2011, with reports of everything from being shut out of bank accounts after a hurricane to scammers impersonating ICE officials who convince consumers to buy them gift cards in order to help them avoid deportation.

 

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