New Poll Shows Continued Broad Support for Financial Reforms and Consumer Protections
74% of Americans favor the CFPB
Voters are nearly unanimous in their support for specific policies the CFPB has created
A July 2012 poll demonstrates very broad bipartisan support for the Consumer Financial Protection Bureau (CFPB) and other reforms in the Dodd-Frank Wall Street Reform and Consumer Protection Act. This poll--taken at the two-year anniversary of Dodd-Frank--has similar results to a poll taken last year and shows continued strong voter support for the law's provisions and actions taken to date by the CFPB.
Read CRL's analysis.
Some key findings from the poll:
- A large majority of Americans (73 percent) support greater federal oversight of financial institutions that were not previously subject to federal regulation, such as payday lenders and mortgage brokers.
- 74 percent of Americans favor the CFPB generally, compared to just 19 percent who oppose it.
- Voters are nearly unanimous in their support for specific policies the CFPB has created, including more protections for military service members, more clarity in financial transactions, and databases that aggregate complaints about financial service providers.
- Two-thirds of voters support a state’s right to pass and enforce stronger consumer protections, preventing federal law from overriding them.
Additional details available in the pollster's memo.
Published: July 18, 2012