From Elizabeth Warren’s creation of the Consumer Protection Financial Bureau (CFPB), we have only seen a financial crisis.
Recently, it was exposed how she actually used the agency.
Mick Mulvaney was elected to lead the CFPB by President Trump.
In the past, Mulvaney didn’t have any belief in the agency but he is the right man to take the job. Back in 2016, the Wall Street Journal released an article which read that the CFPB “has compiled record of abuse rivaling that of Washington’s most entrenched bureaucracies and may be operating outside of the parameters of the Constitution.”
It continued by quoting the lawyers that represented the mortgage lender known as “PHH.” CFPB’s penalty was increased by an additional $6.4 million to the $105 million that the agency has already owed.
The lawyers stated: “The President and the Congress have no control over this agency. The only check on this agency is right here, if it isn’t for the judiciary, this agency could do anything it wants.”
The 56 employees are paid more than the $199,700 Federal Reserve Board Chairman Ben Bernanke receives. “Federal Reserve governors get $179,700, a figure exceeded by 111 CFPB workers, while six-figure salaries go to 741 employees, or 61% of the CFPB workforce, with one in four taking home $150,00 or more,” as reported by Conservative Post.
According to The New York Post, CFPB also has:
“Bounced business owners and industry reps from secret meetings it’s held with Democrat operatives, radical civil-rights activists, trial lawyers and other “community advisers,” according to a report by the House Financial Services Committee.”
“Retained GMMB, the liberal advocacy group that created ads for the Obama and Hillary Clinton presidential campaigns, for more than $40 million, making the Democrat shop the sole recipient of CFPB’s advertising expenditure, Rubin says.”
“Met behind closed doors to craft financial regulatory policy with notorious bank shakedown groups who have taken hundreds of thousands of dollars in federal grant money to gin up housing and lending discrimination complaints, which in turn are fed back to CFPB, according to Investor’s Business Daily and Judicial Watch.”
“Funneled a large portion of the more than $5 billion in penalties collected from defendants to community organizers aligned with Democrats — “a slush fund by another name,” said a consultant who worked with CFPB on its Civil Penalty Fund and requested anonymity.”
Warren had a long run with the agency, and surely, Trump has made the right decision to choose Mulvaney.
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