Consumer Financial Protection Bureau

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The Consumer Financial Protection Bureau (CFPB) was created as part of the 2008 Financial Crisis bailout bills by a majority Democrat Congress and signed into law by President Obama. It is part of a massive scam to funnel money from the U.S. Treasury to Democratic party operatives and organizations as Rahm Emanuel declared, "you never want a crisis to go to waste." Elizabeth Warren was its first head.[1] The Daily Caller reported:
"Obama’s presidential campaign advertising agency received nearly $60 million in federal contracts after he took office...The overwhelming majority of the $58 million funneled to GMMB came from the Consumer Financial Protection Bureau (CFPB) created by Democratic Sen. Elizabeth Warren in 2011. The CFPB awarded the agency a whopping $43.7 million, about 75 percent of GMMB’s total federal funding stream. The second-most lucrative government account for GMMB is a community service agency founded by Bill Clinton, the Corporation for National and Community Service [AmeriCorps], which awarded GMMB $13.1 million worth of contracts...."[2]

The organization, as structured by Warren has no accountability to Congress. Congress has no oversight of its budget, and the Director by statute is only ordered to "appear" before Congress, not to answer any questions.

Mick Mulvaney was appointed by President Donald Trump to clean up the agency.[3]

Services

The Wall Street Journal reported, "The pride of Harvard Law School, Ms. Warren is a hero to the political Left for proposing a new bureaucracy to micromanage the services that banks can offer consumers. But she is also so politically controversial that no less a liberal lion than Connecticut Senator Chris Dodd has warned the White House that she probably isn't confirmable."[4]

The CFPB has allowed liberal activists to raise the cost of credit and cause many people who were formerly able to apply for and be allotted lines of credit to no longer be able to do so.

See also

References