Defunding the Police...

Who Protects You from Financial Crime?

Defunding the Police—And Who Protects You from Financial Crime?

The push to defund the police surged after the murder of George Floyd, but the idea itself was deeply flawed. Law enforcement is essential for maintaining public safety—preventing crimes, investigating offenses, and protecting everyday citizens from those who would do them harm. When crime happens, the police are there to enforce the law. Yet, while many fiercely defended law enforcement against calls for defunding, few seem to ask:

Who protects the public from white-collar crime?

Financial crimes—fraud, predatory lending, unfair debt collection, and deceptive banking practices—can destroy lives just as surely as street crime. The Consumer Financial Protection Bureau (CFPB) was created to stand guard against these abuses. Born from the Dodd-Frank Act of 2010 in response to the 2008 financial crisis, the CFPB was tasked with regulating financial institutions, holding them accountable, and safeguarding American consumers.

And it worked. Since its creation, the CFPB has:
✅ Secured approximately $19.7 billion in consumer relief, benefiting an estimated 195 million people
✅ Imposed $5 billion in civil money penalties on companies and individuals who violated consumer protection laws
✅ Fought against unfair credit reporting errors, predatory lending, aggressive debt collection, and hidden fees

Now, imagine what would happen if we defunded the police—our communities would be thrown into chaos. That’s exactly what’s happening with the dismantling of the CFPB. The wolves are now guarding the henhouse.

Without a strong CFPB, everyday Americans are at greater risk of:
🔴 Credit reporting errors that damage their financial future
🔴 Predatory lending traps that keep them stuck in debt
🔴 Aggressive debt collection tactics that cause stress and financial ruin
🔴 Hidden fees and deceptive financial products with no oversight
🔴 Less power to dispute or correct financial injustices

The bottom line? The less you know, the more financial institutions profit. Weakening the CFPB isn’t an accident—it’s a strategic move that benefits banks, lenders, and debt collectors at the direct expense of consumers.

The CFPB was once a powerful shield against financial exploitation. As its influence fades, education becomes the best weapon. The wolves are circling—but an informed consumer is far harder to prey upon.