The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 in response to the 2008 financial crisis. And since its inception the CFPB has outperformed any company run by Elon Musk, Jeff Bezos, Peter Thiel or convicted felon and adjudicated rapist Donald Trump.
How Effective is the CFPB in Protecting Consumers from Fraud and Abuse?
The CFPB has been instrumental in recovering billions for consumers. To date, it has returned over $20 billion to consumers and an additional $250 million to veterans and service members. Despite a modest staff of only 1,600 (before Musk illegally fired them all), the CFPB processed over 3,000 consumer complaints a day.
So, what about the numbers?
The CFPB recovers over $1 million per employee every year – a $2 billion annual dividend. This translates to a 700% return on investment ($7 recovered for every $1 of employee salary) – far exceeding the performance of companies like Tesla, which has a meager 12% return rate.
In a similar vein, the Trump Media Group and its predecessor Truth Social have never recorded a profit (a negative rate of return) and has never and will never pay a dividend to shareholders. It’s just a ghost company designed to buy off Trump.
In short, the CFPB plays a vital role in safeguarding consumers from financial fraud, offering a strong return on investment and continually making progress in the battle against financial abuse.
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