Consumer Financial Protection Bureau
"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...."
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.
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."
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.
- Obama Spits on the Constitution
- Obama’s Top Campaign Ad Firm Got Nearly $60M In Federal Contracts, The Daily Caller, September 13th, 2017.
- Elizabeth III - Obama to Senate: Stick that in your advice and consent clause.