Invoking memories of Apple’s famed 1984 Superbowl commercial, a group called the American Action Network aired an anti-CFPB spot during last night’s Republican presidential debate. If nothing else, the spot should encourage further discussion of the role and impact of the Consumer Financial Protection Bureau.
The spot certainly portrays the CFPB in an evil light that is sure to please many in the banking industry, but its broader impact is less certain. A well-written piece by the American Banker offers several reasons why the ad could backfire, not the least of which is the hyperbolic nature of (and shortcuts taken by) the spot.
And former FDIC Chair Sheila Bair seems to agree.
@ABWashBureau Not smart. This will solidify CFPB supporters and imply GOP is anti-consumer, which it isn't.
— Sheila Bair (@SheilaBair2013) November 10, 2015