Senator Elizabeth Warren (D-MA) may no longer be running for president, but her agency lives on.
The Consumer Financial Protection Bureau (CFPB) doesn’t want to be controlled by the Trump Administration. The Supreme Court might end the agency’s streak of independence later this year. Ostensibly, the CFPB aims to protect ordinary Americans from untoward business practices. Instead, it only advances left-wing causes and identity politics.
Warren proposed the CFPB in 2007 when she was a Harvard law professor. President Barack Obama established it in 2010. It is supposed to protect Americans from malpractice in the financial industry, yet the CFPB’s main task during the Obama Administration was fighting “disparate impact.” Disparate impact is a legal concept that considers racially disproportionate outcomes as evidence of discriminatory policies, even if the policies had no discriminatory intent and were administered objectively. Read More
At the top of the third hour, Leahy and Carmichael discussed the current lawsuit within the Supreme Court regarding the little known and unregulated Consumer Financial Protection Bureau. Read More
by Norbert Michel The Trump administration has nominated Kathy Kraninger to be the next director of the Consumer Financial Protection Bureau, and Roll Call reports that her confirmation hearing was “as politically contentious as it’s gotten in the last year and a half” on the otherwise “senatorial Senate Banking Committee.” Ignore the… Read More
President Donald Trump plans to nominate Kathy Kraninger, associate director of the Office of Management and Budget, to head the Consumer Financial Protection Bureau, which seeks to prevent financial abuses to consumers. In a statement Saturday, the White House said Kraninger would continue the efforts of the current CFPB chief,… Read More
Interim Consumer Financial Protection Bureau Director Mick Mulvaney said Thursday that he wants to bring more Trump political appointees on board at the agency as he pores over its books and considers halting dozens of pending cases targeting businesses. “We’re trying to get help over here,” Mr. Mulvaney told The… Read More
Congress’ power of the purse is one of its bedrock responsibilities listed in Article 1 of the Constitution. The Supreme Court has reaffirmed this power on several occasions, including in a 1976 case when the Court declared, “The established rule is that the expenditure of public funds is proper only… Read More
Pay is flowing so generously at the Consumer Financial Protection Bureau (CFPB) that bureaucrats receive more than most members of Congress. The Senate majority and minority leaders are paid $193,000 annually. Two hundred and one CFPB employees outdo Sens. Mitch McConnell and Charles Schumer in pay. Speaker of the House… Read More