Sean Duffy is actively trying to get rid of the US Consumer Financial Protection Bureau (CFPB) to appease the big money interests that fill his campaign coffers. If he were successful, the CFPB would be dismantled and the safeguards put in place after the great recession to protect everyday people from the big banks and Wall Street would be rolled back.
A recent incident at Wells Fargo shows exactly why the agency cannot be dismantled; the behemoth of a bank was caught ripping off customers for several years, which would not have been caught and stopped without the help of the CFPB. Wells Fargo ended up firing 5,300 employees for the incident and being fined $175 million for their malfeasants.
However, incidents like this don't stop Rep. Sean Duffy from continuing his battle cry to to get rid of the US Consumer Financial Protection Bureau. Duffy chairs the Banking Oversight Committee and has received hundreds of thousands of dollars in campaign contributions as a reward for always looking out for the best interests of the big banks and Wall Streets - not Main Street. Wells Fargo has been particularly happy with Duffy's performance, giving him the largest single donation of any person in Congress.
"Sean Duffy continues to put the interests of the big banks and Wall Street ahead of the Wisconsinites of Main St.," Democratic Party of Wisconsin spokesperson Brandon Weathersby said on Wednesday. "The US Consumer Financial Protection Bureau protects everyday people from being defrauded by big banks, yet Sean Duffy wants to return to the pre-recession days when the big banks and Wall Street were able wreck our economy because of their irresponsible choices.
"Wisconsinites deserve a representative like Mary Hoeft who will always look out for the best interests of the people of the 7th Congressional District, not sell them out to a few wealthy banks like Sean Duffy is trying to do," Weathersby concluded.