Dear Editor: I am a college student, new to the world of personal finances. Left and right from family members I hear, “It’s a tough world.” I’ve started receiving emails about credit cards, student loans, bank accounts and loads of other information — too much information to process all at once. It is not easy to tell the scams from the legitimate services and it is not easy to navigate student loan information, especially when I have been taught little to nothing about this previously. College students are an easy target for companies to take advantage of, as are elderly people, military families, and low-income families.
Luckily, the Consumer Financial Protection Bureau was created to watch out for everyday people, like students in my situation, in the financial marketplace. However, since President Trump appointed Mick Mulvaney as acting director, it seems like the Consumer Bureau has been watching out for these powerful financial companies themselves, instead of inexperienced or vulnerable people. Mulvaney has even been quoted calling the agency a "sick, sad joke."
I cannot even begin to describe the absurdity of Mulvaney’s attempts to redesign an agency established to protect consumers into one that protects the financial predators. The only sad, sick joke I am seeing is Mulvaney and his very clear conflict of interest.
Students need to pay attention to what is happening with the Consumer Bureau, since these decisions affect us. We need to make our voices heard so that our Wisconsin elected officials stand up for us.
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