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This is what happens when bureaucrats who have never run a business make rules for the rest of us
American Thinker ^ | 13 Dec, 2024 | Jack Hellner

Posted on 12/13/2024 5:23:18 AM PST by MtnClimber

The Consumer Financial Protection Bureau is a bureaucracy created out of thin air by socialist Elizabeth Warren. Democrats pretend the bureau is just there to protect consumers which is B.S. Their budget is not controlled by Congress or anyone. They are funded by the Federal Reserve, which is losing hundreds of billions per year. Most of what they do is protecting their own jobs, and they are very highly paid people. The bureau is just another layer of regulators to whom private businesses have to cater.

The average pay of a CFPB employee in 2023 was $134,723, which is over 70% higher than the median income of a family of four in the U.S. ($78,171), and higher than other government workers:

The average employee salary for the Consumer Financial Protection Bureau (CFPB) in 2023 was $134,723. This is 87.8 percent higher than the national average for government employees and 74.7 percent higher than other federal agencies. There are 1,637 employee records in 2023 for [the] Consumer Financial Protection Bureau (CFPB).

This does not even include their massive pensions and benefits packages. They get raises whether their employer is making money or not.

The bureaucrats put out talking points, and most of the media just repeats what they are told, because they also have no business experience, with a new example seen below:

Overdraft fees could be capped at $5 under new federal rule

Banking customers could save up to $5 billion per year on overdraft fees under a new rule finalized Thursday by the Consumer Financial Protection Bureau.

Rohit Chopra, the director of the government watchdog in charge of protecting the public’s finances, told ABC News the final rule would cap overdraft fees at $5 for many customers.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Society
KEYWORDS: cfpb; illiterate; leftism

1 posted on 12/13/2024 5:23:18 AM PST by MtnClimber
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To: MtnClimber

I wonder how many of these people ever started a business.


2 posted on 12/13/2024 5:23:53 AM PST by MtnClimber (For photos of scenery, wildlife and climbing, click on my screen name for my FR home page.)
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To: MtnClimber
"It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong." -Thomas Sowell



3 posted on 12/13/2024 5:28:43 AM PST by T.B. Yoits
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To: MtnClimber

This whole part of government is a significant grift on the taxpayers. When politicians create government agencies usually it is to harass the taxpaying public and to interfere with their lives...not help them. However, it does creates jobs for those inclined toward their “inner fascist”..i.e., government employees. There is no denying that many in government employ do work hard but also many hardly work. However, if what they are doing is making a job for themselves, harassing the public, bothering business owners and so forth...what’s the point?


4 posted on 12/13/2024 5:30:23 AM PST by hal ogen (First Amendment or Reeducation Camp?)
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To: MtnClimber

Worse CFPB is a Democrat a patronage mill which blackmails business and reroutes fines to left wing organizations. Obama-Holder dreamed up this scam after 2008.


5 posted on 12/13/2024 5:35:34 AM PST by DeplorablePaul
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To: MtnClimber

Very few.

Some never had a productive (for a business that makes a product or service people vuntarily pay for) job in their life!

Think about that.


6 posted on 12/13/2024 5:35:34 AM PST by Red6
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To: MtnClimber

CFPB is another bureaucracy we could live without. Liz Warren - D eceiver.


7 posted on 12/13/2024 5:37:23 AM PST by PGalt (Past Peak Civilization?)
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To: MtnClimber

Or ever worked for anyone but the US gov’t


8 posted on 12/13/2024 5:38:46 AM PST by SMARTY (In politics, stupidity is not a handicap. Napoleon Bonaparte I)
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To: MtnClimber

Hope this Liawatha created bureaucracy gets DOGE’d on DAY ONE!!

Along with many others.


9 posted on 12/13/2024 5:38:53 AM PST by Jane Long (Jesus is Lord!)
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To: T.B. Yoits

Amen, Mr Sowell!


10 posted on 12/13/2024 5:42:08 AM PST by Jane Long (Jesus is Lord!)
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To: DeplorablePaul

“Worse CFPB is a Democrat a patronage mill which blackmails business and reroutes fines to left wing organizations. Obama-Holder dreamed up this scam after 2008.”

Let attorneys bid on whatever open cases there are and then shut down the agency.


11 posted on 12/13/2024 5:47:59 AM PST by EQAndyBuzz (Drill Baby Drill!)
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To: MtnClimber

Reminds me of the post above about how the LA City Council is mandating a minimum wage of $30/hour for hotel workers.

How many of them have ever run a business or had to meet a payroll? Or understand Economics 101? Newsom’s mandate of $20 for fast food workers is costing jobs and businesses.

Hotel owners said the wage is unsustainable and they’re going to turn the hotels into housing for the homeless.


12 posted on 12/13/2024 6:41:49 AM PST by Bon of Babble (You Say You Want a Revolution?)
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To: EQAndyBuzz

Worse than that, Pocahontas was trying to make herself head of the CPFB.

if she had succeeded in her original plan she would have had a government job with no accountability to Congress for life.


13 posted on 12/13/2024 9:40:30 AM PST by sloanrb
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To: MtnClimber

Don’t shut it down. Leave one person behind.


14 posted on 12/13/2024 2:34:29 PM PST by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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