Small Business Owners Press For Strong CFPA To Defend Them From Wall Street
The U.S. Chamber of Commerce and its GOP allies have been busy warning that an independent Consumer Financial Protection Agency will hurt small business — but a growing number of small business owners are saying just the opposite.
When asked to speak for themselves, they say a strong CFPA is the only thing that can protect them from the predatory practices of the corporate titans represented by the Chamber.
Small business owners, after all, frequently wind up using personal credit cards to cover their expenses. Consequently, they’re often victimized by the kinds of deceptive interest rates and fee structures that the CFPA could do away with or otherwise regulate. Small business owners may have created two out of three net new jobs in the past decade and a half, but they say that big businesses are strangling their finances and killing those jobs.
