Warren goes off on Trump over CFPB defense

The Hill ^ | 11/25/2017 | Max Greenwood

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Sen. Elizabeth Warren (D-Mass.) savaged President Trump on Saturday for his claim that the Consumer Financial Protection Bureau (CFPB) has crippled financial institutions, claiming that the president would destroy the watchdog agency.

In a series of tweets Saturday night, Warren defended CFPB's work, saying that the agency had forced financial institutions to return ill-gotten money to those they wronged and accusing Trump of taking up for powerful banks.

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Hours later, Trump tapped White House budget chief Mick Mulvaney as the agency's acting director, setting up a showdown at the CFPB. Mulvaney, a conservative former congressman, has been a vocal critic of the CFPB, once calling the agency "a sick, sad joke.”

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It's an excellent decision by President Trump! Mick Mulvaney is one of the smartest people serving in government today. Of course, Mr. Trump is one of the smartest Presidents ever.

And then there's this, Justice Dept says Trump has authority to appoint CFPB acting director, which he does.

Too bad for Senator Warren. Elections do have consequences, ya know.

[knarf]

"claiming that the president would destroy the watchdog agency"

That is the point, sweety.

The "watch" of a watchdog agency is supposed to prevent fraud, illegality and unconstitutional decisions.

But a "watch" of a watchdog agency that spies and uses that information to the destruction of free enterprise is NOT the watchdog agency we Americans want.

Your President is the best you've ever had and quite probably the best you'll EVER see in your lifetime.

Deal with it.

[Lurker]

“claiming that the president would destroy the watchdog agency.“

Be still be heart.

L

[texas booster]

The watchdog agency was established by the 2010 Dodd-Frank Wall Street Reform Act, which sought to overhaul U.S. financial regulations in the wake of the 2008 financial crisis.

Drama erupted at the agency on Friday after now-former CFPB Director Richard Cordray named chief of staff Leandra English to the deputy director position just before stepping down from atop the CFPB. The Dodd-Frank act states that in the absence of a permanent director, the deputy director will helm the agency.

Answering a question that popped up on an earlier thread. There is a conflict between the Dodd-Frank Act and the standard rules for appointing a new director.

So far, no final decision but the stage has been set for yet another lawsuit to bog down Trump's reforms. The Justice Dept has greenlighted Trump's appointment of Mulvaney over a promotion for convenience of Ms. English.

[texas booster]

The CFPB is on borrowed time. The Washington DC Court of Appeals has already decided that its unaccountable structure does not pass constitutional muster. It overlaps multiple other agencies regulations, and created regulations that were the opposite of other agencies rules.

Cordray bailed to protect his new federal pension, knowing that he couldn't justify any of his actions to his new boss.

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There is a conflict between the Dodd-Frank Act and the standard rules for appointing a new director.

No conflict at all, Dodd-Frank does not specify what happens when there is a vacancy. Accordingly, the Federal Vacancies Reform Act of 1998 applies, which gives the President authority to appoint acting Director. Any lawsuit to the contrary would be dispatched easily.

[texas booster]

Well, The Hill managed to get a comment from Barney Frank (D-Male Prostitution Rings) about the CFPB:

Former Rep. Barney Frank (D-Mass.), who co-authored the 2010 law that established the Consumer Financial Protection Bureau (CFPB), blasted the White House's claim that President Trump has the authority to install an interim director at the watchdog agency.

In an interview with CNN on Saturday, Frank said that the Dodd–Frank Wall Street Reform and Consumer Protection Act specifically states that the CFPB’s deputy director will head the agency in the absence of a permanent director – a move he said is intended to protect the agency's independence.

“We gave a lot of attention to how to structure the CFPB and how to protect its independence, because its job is to go after some very powerful forces in the economy,” he told CNN.

“The point is, we intend what [former CFPB Director Richard] Cordray was doing to have this kind of autonomy.”

Yep, just another Democrat protecting other unindicted co-conspirators.

[Qiviut]

If you want to see the kinds of “swampy” things the CFPB is up to ......

http://www.freerepublic.com/focus/news/3607936/posts?page=6#6

CFPB needs to be GONE, period.

[texas booster]

I think the Demoncrats are arguing the difference between “appointed” and “permanent” director.

I agree with you - the Boss gets to appoint new leadership in the event of a vacancy. Otherwise, there would be total chaos every time the administration changed hands.

[McGruff]

I guess “Warren goes on the warpath over CFPB defense” would be insensitive to her heritage.

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"...$55 million that has been set aside for renovating the CFPB headquarters building just steps from the White House. Incidentally, $55 million is more than the entire annual construction and acquisition budget for GSA for the totality of federal buildings,” McHenry added, referencing the General Services Administration.

Unreal. We should note that this is a government bureau that does not have any special security requirements, or any weapons, or any special equipment. Con artists!

[ronnie raygun]

Upset because she wont have an “IN” at the CFPB. Ah the leader of the down trodden, defender of the small people

[McGruff]

[GrandJediMasterYoda]

I'm just curious: When Warren said she was sexually harassed years ago by some co-worker who chased her around a desk, did she run around the desk like this?....

[Oldeconomybuyer]

Watchdog = Progressive.

[Flick Lives]

The watchdog agency was established by the 2010 Dodd-Frank Wall Street Reform Act, which sought to overhaul U.S. financial regulations in the wake of the 2008 financial crisis.

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Remember when the CFPB sent all those bankers to jail for their illegal dealings during the financial crisis? Neither do I.

[Kudsman]

Anything that upsets swamp dweller Warren has to be good for me.

[b4its2late]

ROTFLMAO!

[joma89]

Yet another government agency that adds to the swamp. Time to drain this one!

JoMa

[momincombatboots]

I did question how crippled the financial institutions have been. They were getting paid to take money and bailed out. By trillions of our dollars.. they we bred with insurance companies to make even more trillions by administering medicare, to the tune of how much?
Tell me how they suffer, cause I can’t see it myself.