These practices contributed to widespread defaults and debt that resulted in a $700 billion taxpayer funded bailout of the US economy. Which is where you're heading us back down. The path. You're heading us back down. So this The crisis caused Congress to create the CFPB to address predatory lending practices. that led to this crisis. The Congress giving it authority over non bank mortgage lenders, credit cards, student loans and other consumer lending products. (01:48–01:57)
CLAIM
Asserts that the CFPB was created by Congress to address predatory lending practices.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
