The U.S. Chamber of Commerce released a national survey today that found that the majority of Americans were more likely to oppose the creation of the Consumer Financial Protection Bureau (CFPB) after they were given information about what the Bureau looks like and how it operates. One interesting tid bit of information within the survey that we found fascinating, and it has to do with what many of our member companies’ customers care about: Access to credit.
According to the survey, 53 percent of participants (combined) say they would be less likely to support the CFPB when asked this question:
The CFPB has the ability to ban features of products or entire products it deems unfair potentially limiting choices for consumers.
The telephone survey of 1,005 Americans was conducted November 9-13 by Harris Interactive on behalf of the U.S. Chamber of Commerce.
Generally I would oppose any government agency that would put restrictions in place because they feel that they known better what to do with my money than I do. Obviously there should be consequences for those that intentionally go out and scam people but when it comes to taking out personal loans and such that should be left to the individual.