September 28, 2022

Fight Corporate Monopolies on Big Banks’ Legal Action Against CFPB

Washington, D.C. — Fight Corporate Monopolies issued to the following statement on business lobbying groups, including the U.S. Chamber of Commerce and American Bankers Association, announcing that they will sue the Consumer Financial Protection Bureau (CFPB) over the agency’s move to fight against discrimination in banking practices. 

“Big Banks suing the CFPB for eliminating discriminatory and harmful business practices spells out exactly what the Chamber of Commerce and its lackeys stand for: profit at any cost, corporate abuse, and consumers being taken advantage of,” Helen Brosnan, Executive Director of Fight Corporate Monopolies said. “They are preventing the government from doing its job to protect working people from illegal and discriminatory practices so giant corporations can continue deceiving, ripping off and preying on unwitting consumers. While banks work hard to get PR for performative stunts about their commitment to diversity, they are actually working overtime to preserve their ability to discriminate.”