Who does Zeldin think he was elected to represent? | Perry Gershon for Congress
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Who does Zeldin think he was elected to represent?

We need to have an important conversation about money. I want us to think about how it's becoming increasingly more difficult to afford an education in America.

We hear about it every day: students try to get a leg up by attending college, only to emerge buried in debt. There needs to be national solutions, both to the high cost of education and the debt burdens our students have taken on to pay for it. (And by the way, Congressman Lee Zeldin sits on the House Financial Services Committee, where he could take real action to rectify the student debt crunch.)

As if the rising costs of an education weren't enough, this story has a darker underbelly. Lenders were KNOWINGLY suing students:

(1) to collect debt they could not prove was really owed, because critical documents were lost or missing;

(2) using false statements and affidavits claiming untrue witness; and

(3) proceeding after the statute of limitations had expired.

In other words, banks were using their power and deep pockets to bully and scare consumers.

That is just one example of why the Consumer Financial Protection Bureau was established: to protect Americans from unscrupulous lending practices. The banks did it with home mortgages, credit cards, and then student debt. "Robo-signing" was one of the causes of the 2008 financial crisis. In early 2017, the CFPB blocked certain illegal practices by student loan servicers and demanded an audit of their loan portfolios.

Now enter Long Island's Lee Zeldin, trying to bail out the big banks and lenders from taking responsibility for their actions. His position recently articulated in Breitbart? He wants to undo the student protections put in place.**

My big questions, then: Who does Zeldin think he was elected to represent? The big banks, or us?

That is why I am running to represent NY-1. We need to enhance the CFPB, not handcuff it. I spent 25 years as a lender and saw what happened to the industry when their behavior was left unchecked. Going after easy prey, such as students who cannot afford representation, in order to force settlements is wrong. And we need a voice to stop it. I ask for your support so that we can keep and strengthen the reforms post-banking crisis, not dismantle them.


Posted on June 14, 2019.

For 25 years, I have been a common-sense businessman — not a career politician — so I look at things differently. I know about fixing dysfunction. It starts with hard work, a commitment to results, and perseverance — not scoring cheap political points. We can work together to provide opportunity and create an economy that works for all of us.

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