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Judd Gregg: Elizabeth Warren and the CFPB
The Hill ^ | 12/04/17 | JUDD GREGG

Posted on 12/07/2017 6:45:16 AM PST by george76

Dodd-Frank financial regulation bill


The Consumer Financial Protection Bureau (CFPB) was inserted in the bill, which passed on a partisan vote. All the Democrats voted for it.


The power invested in the director of the CFPB was, and still is, unencumbered by any limiting authority of those elected to govern.

He is a person who under Dodd-Frank answers to no-one.

His agency receives its funding without any limitation or congressional oversight, as it has a “put” to the unlimited resources of the Federal Reserve rather than the congressionally-appropriated budget.

The director of the bureau is essentially an unelected, unaccountable czar of an agency that can exercise enormous power over the economy — and especially over the ability of people on Main Street America to obtain credit.

The authors of this section of Dodd-Frank intentionally facilitated this overreach because they did not want to be hampered by elected government.


The CFPB in its present form is an affront to our form of government.


this agency and its director were set up to be free from the control of the Congress. Congress’s fundamental obligation to oversee and fund such bureaus or agencies is short-circuited when it comes to the CFPB.

In structuring it in the manner written by now-Sen. Warren (D-Mass.), the law abrogated the idea of a government by the people, for the people and of the people.

Instead, it established an autocratic and unaccountable power center for people of Warren’s ideological persuasion — those who view our market economy as an enemy .

(Excerpt) Read more at ...

TOPICS: Crime/Corruption; Government; News/Current Events; Politics/Elections; US: District of Columbia; US: Massachusetts
KEYWORDS: cfpb; dodd; doddfrank; elizabethwarren; federalreserve; frank; juddgregg; warren

1 posted on 12/07/2017 6:45:16 AM PST by george76
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To: george76

When will this unconstitutional Democrat power grab of an agency be repealed??? What have the GOP politicians sitting in the House and Senate done to expose this flagrant abuse of power by Obama and his legislative lackeys since the Republicans have held the majorities in both bodies???

2 posted on 12/07/2017 6:48:45 AM PST by txrefugee
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To: george76

When will the constitutionality of the CFPB be challenged. This should take about 10 minutes to be struck down.

I don’t get why or how it has existed as long as it has.

3 posted on 12/07/2017 6:51:58 AM PST by Gahanna Bob
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To: george76

Hopefully, the new Acting Director will neuter this Agency. Start letting people go and freeze hiring and suspend all activity.

4 posted on 12/07/2017 6:53:04 AM PST by Old Retired Army Guy
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To: george76

This must end.

5 posted on 12/07/2017 6:53:43 AM PST by bigbob (People say believe half of what you see son and none of what you hear - M. Gaye)
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To: Old Retired Army Guy

1,600 employees in this monster.
All need to go.

6 posted on 12/07/2017 6:58:14 AM PST by Eric in the Ozarks (Baseball players, gangsters and musicians are remembered. But journalists are forgotten.)
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To: george76

IMO the Trump admin if it wants this outfit destroyed should now divert all the funds to the Right and none to the left.

The Cucks then will align with those they submit to on the Left and then a bipartisan consensus will build to get rid of the whole works.

7 posted on 12/07/2017 6:59:27 AM PST by junta ("Peace is a racket", testimony from crime boss Barrack Hussein Obama.)
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To: george76

Is there any good reason why this agency cannot be terminated??

8 posted on 12/07/2017 7:08:18 AM PST by elpadre (AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: elpadre; Liz
Here's another reason if needed...

VIVA LA CFPB: Disgruntled Staffers Form A Resistance Movement Within The Agency, Using Encrypted Devices

Correct me if I'm wrong, but that sounds like multiple ongoing violations of a number of federal laws.

9 posted on 12/07/2017 7:13:19 AM PST by mewzilla (Was Obama surveilling John Roberts? Might explain a lot.)
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To: elpadre; All


“There is nothing more permanent than a temporary government program.”

Oh, I’m sure the (R)NC will hem-n-haw and wax nostalgic about the ‘fight’ they put up (all for naught) and, should you give $$$ and (re)elect them to just *ONCE* (more), they’ll promise to end it (*THIS* time).

10 posted on 12/07/2017 7:22:40 AM PST by i_robot73 ("A man chooses. A slave obeys." - Andrew Ryan)
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To: george76
The Congress has an obligation to bring this agency back under the control of elected persons,

The agency needs to be Terminated, or rather America needs the agency to be terminated without any of its functions or employees transferred to any other agency.

11 posted on 12/07/2017 7:25:23 AM PST by arthurus
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To: arthurus

Let it start channeling money to Pro-life organizations and Warren and the Dems will kill it for us.

12 posted on 12/07/2017 7:27:22 AM PST by AppyPappy (Don't mistake your dorm political discussions with the desires of the nation)
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To: junta
How about an audit of the firms that (illegally) received CFPB settlement funds?

Would be very instructive to see:

Who protests the loudest, and

What happened to all that money (pretend that we don't know).

Wonder how much of it was funneled straight back to the democrat party, and Warren in particular.

Wonder if ANY of the groups that got the millions even have decent record keeping at all?

13 posted on 12/07/2017 7:42:30 AM PST by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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To: AppyPappy

That is a brilliant strategy. I hope Mr. Trump has considered that possibilty. Or as is said, “may it go from your lips to Trump’s ears.”

14 posted on 12/07/2017 8:01:18 AM PST by arthurus
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To: george76

Mulvaney of CBO is probably conducting a forensic financial investigation into where BILLIONS of “penalty” fees made their way. It’s not taxpayer dollars, but a RICO operation. And the investigation will easily identify as such.

15 posted on 12/07/2017 8:02:13 AM PST by Zuben Elgenubi (NOPe to GOPe)
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To: Gahanna Bob
I don’t get why or how it has existed as long as it has.

Well the Congress never really knew about it but then again they think The Clinton Global Initiative is a charity.

16 posted on 12/07/2017 8:14:35 AM PST by itsahoot (As long as there is money to be divided, there will be division.)
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To: Zuben Elgenubi

I hope so. A good, healthy audit of that board should bring it to a screeching halt. The RICO charges would be a bonus. Swamp draining with gas!

17 posted on 12/07/2017 8:50:27 AM PST by SueRae (An administration like no other.)
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To: george76

The idiotic Dodd-Frank law should be immediately repealed.

18 posted on 12/07/2017 9:29:05 AM PST by GoldenPup
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To: txrefugee

Why would the Republicans undo this power grab? It is sure that they profit from it.

19 posted on 12/07/2017 11:31:58 AM PST by arthurus
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