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John Hickenlooper: “A quarter of our families lost 75% of their wealth.”

Featuring: John Hickenlooper, Democratic | U.S. Senate from Colorado

Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows'

Published March 5, 2025 | Video Starts at 01:52

The result? By 2008, years of this shady, abusive practice helped spark a devastating global financial crisis. Six million households lost their homes to foreclosure. A quarter of our families lost 75% of their wealth. Americans lost faith in our financial system. In 2010, Congress created CFPB to help make it, help make sure that this could never happen again. (01:52–01:57)

CLAIM

Asserts that a quarter of families lost 75% of their wealth during the financial crisis.

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.

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John Hickenlooper

“The Consumer Financial Protection Bureau is at its core a law enforcement agency.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 00:02-00:10
“Congress established the CFPB 15 years ago to protect Americans from fraud, from getting ripped off by banks and credit card companies…”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 00:09-00:22
“Today's Republican led resolution weakens the CFPB's ability to protect consumers.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 00:21-00:30
“By 2008, years of this shady, abusive practice helped spark a devastating global financial crisis.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 01:38-01:49
“Six million households lost their homes to foreclosure.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 01:48-01:52
“In 2010, Congress created CFPB to help make sure that this could never happen again.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 02:00-02:09
“The Bureau has delivered $20 billion back to Americans.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 02:32-02:36
“It's brought relief to 200 million Americans and small businesses facing scams or abusive practices.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 02:40-02:49
“In Colorado, nearly 67,000 people have sought the help from CFPB, including more than 6,200 service members.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 02:49-03:00
“The Trump administration is trying, I think many people believe illegally, to abolish the CFPB entirely.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 03:50-03:59
“They canceled the lease on the CFPB's office, and they literally ordered a total shutdown of the agency.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 04:01-04:09
“The administration wants to take our economy back to the time before the financial crisis of 2009, with weaker protections.”
Hickenlooper Warns GOP Curbing CFPB Oversight Would Allow Big Payment Firms To 'Stay In The Shadows' | Uploaded March 5, 2025 | 04:29-04:38