Changes Impacting Consumers Under the Trump Administration-What You Need to Know

Banking-Consumer Protections

Consumer Financial Protection Agency (CFPA)
Dodd-Frank Act was created to prevent the global banking
collapse of 2007, due to big banks and hedge funds trading on unsecured junk quality
mortgages. The U.S. gov. under President Obama had to lend money to banks to
prevent a total collapse- 623 billion was loaned and 390 billion has been repaid.
The CFPA was created to fight predatory behavior by banks.
When lenders have violated federal regulations, they must pay a civil penalty
and/or make financial amends to the consumer. Here is a link to the companies
whom have had to pay up:
So far, the CFB has awarded 11.5 billion to 29 million consumers
from abusive lenders. This works out to $407 per individual.
Money has come from auto lenders, payday operations, and student loans
Former head of Health and Human Services, Tom Price was
fired due to overuse of expensive tax payer funded charter flights. He is
replaced by drug company executive, Alex Azar, whose approval is pending.
Republican congressmen are resolute on cutting funding to
healthcare, including stopping the subsidies under the Affordable Care Act,
removing the requirement that businesses with 50 or more employees provide
insurance, and equal access to women’s health services.
Don’t expect to see any reduction in drug prices. He
worked for Eli Lily for 10 years. He will look at ways to change the
Affordable Care Act. He will certainly review FDA processes. Not sure what he
will do about funding.
Rex Tillerson, Secretary of State has cut 2,000 international
experts from the State Department. Tillerson repeatedly turned down briefings
from Chief of Security, Bill A. Miller, whom had to cite the federal law
mandating the Secretary of State listen to security briefings before
Tillerson would give him fifteen minutes. It is noteworthy that the entire
senior diplomatic staff quit rather than work with this administration.
Senior Congressman from both sides of the aisle are concerned about the cuts
to the department.
Anthrax spores can kill many people and is undetectable in
the mail. Lethal bacteria for which there is no known effective treatment
exist. The risk of a bioterrorism event is real and growing. The U.S. is
underfunded and unprepared. Every hospital administrator in the country is
worried about this.
For all of the hatred sowed toward Hilary Clinton over
Benghazi, the current Secretary of State is endangering diplomats all over
the world by understaffing, under budgeting, and ignoring security briefings.
 It takes decades for someone to learn
the customs, languages, and protocols required to be a key asset in foreign
affairs and these ignorant actions will cost the U.S. dearly just when we
need diplomacy the most.
Even after the Las Vegas massacre the Republican Congress
is trying to pass the Sportsman’s
Heritage and Recreational Enhancement Act
, which will make it easier for
people to acquire silencers, high velocity weapons, and explosives.
The NRA is backing this bill and cares nothing about the
toll high velocity weapons have had on the general public. It is all about
profit for them. Why should a few people who need to owe machine guns and conversion
bump stock kits be allowed to endanger us all? There are more regulations to
drive a car than for gun ownership. Congress banned funding for gun violence
and cut 2.6 million from the CDC budget after a 1993 study found that homes
with guns are three times more likely to have a homicide. The NRA was so concerned
that the true costs of gun violence would become widely known, it lobbied for
the ban. (Sudermann,
The nonpartisan Joint Committee on Taxation has stated
this budget will add 1 trillion dollars to the federal deficit. The only
Republican who had cojones to vote no was Senator Bob Corker. If approved,
this will assure higher taxes on working class Americans to pay for existing
Medicare, Medicaid, and Social Security obligations. It also will adversely
impact the ability of the country to meet future obligations. The Republican
Congress have federal pensions and healthcare and they do not care if you
have even the skimpiest programs. The bill is fiscally irresponsible.

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