Last week there was a lot of talk about the Obama era Consumer Financial Protection Bureau (CFPB) created by far left, fake Indian, Senator Elizabeth “Fauxcahontas” Warren. But a closer look at the bureau shows that it was nothing but a tax dollar-supported slush fund for far left-wing causes.
You may recall last week when President Trump made the move to replace the temporary head of the CFPB by appointing Mick Mulvaney as its chief. Mulvaney aims to begin undercutting the bureau and reverse its liberal direction.
Of course, the left immediately tried to sue Trump to stop him from placing a new man to run the bureau making the absurd claim that a president can’t appoint a CFPB director. The left lost, though, and the courts properly ruled that Trump has every right to appoint a new man to the bureau.
But with the new scrutiny of the CFPB, Paul Sperry of the New York Post uncorked a great article showing that this agency is a fake agency that just funnels tax dollars to left-wing causes and doesn’t do a thing to help “protect” the American consumer.
In his December 2 article entitled, “Trump is finally fixing this economy-killing agency,” Sperry revealed many of the non-consumer protection causes that Warren’s agency has supported since it was created during the Obama era.
For instance, this fake agency gave millions to a group that made advertisements for Hillary Clinton. In June of this year, the CFPB gave the Obama-Hillary ad company a $14.7 million contract for “agency media and resource communication.” The CFPB also gave $16 million to create marketing materials to push the Bernie Sanders cause of student loans and mortgages.
Sperry notes that Trump has finally moved to crimp the liberalism of the CFPB:
Last week, the White House finally wrested control of the mammoth regulatory agency following the resignation of CFPB Director Richard Cordray, an Obama appointee and liberal Democrat who quit his special five-year post early to run for Ohio governor. Trump installed his conservative budget director, Mick Mulvaney, to temporarily take over the powerful agency — which has the authority to determine the “fairness” of virtually every financial transaction in America.
As soon as Mulvaney got in, he froze all new hiring and the issuance of regulations by the agency so he could review the work being done there.
“It is a completely unaccountable agency, and I think that’s wrong,” Mulvaney said last week. “If the law allowed this place not to exist, I’d sit down with the president to try to make the case that other agencies can do this job well if not more effectively.”
Sperry goes on:
They say CFPB is a Democrat shop with an anti-business agenda that goes well beyond protecting consumers and includes closing the “wealth gap” and administering “economic justice,” as Cordray has been fond of saying. It hires almost exclusively Democrats and “rejects Republican job applicants,” according to former CFPB enforcement attorney Ronald Rubin. Federal election data show 100 percent of political donations made by CFPB employees during the 2016 election were given to Democratic candidates.
It’s no surprise then, Sperry wrote, that the agency 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.
In other words, the CFPB does nothing to “protect” any consumers and its only goal has been to hand out millions to far left, Obama/Hillary supported causes and organizations… and ALL with YOUR tax dollars.
It’s just another corrupt Obama/Warren scam to force the American taxpayer to fund un-American liberal causes.
[Note: This post was written by Warner Todd Huston]