Posted on 10/23/2009 3:39:08 PM PDT by OpusatFR
WASHINGTON - During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.
The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of "consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages" to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.
By making representatives of ACORN and other consumer activist organizations eligible to serve on the Oversight Board, the amendment creates a potentially enormous government sanctioned conflict of interest. ACORN-type organizations will have an advisory role on regulating the very financial institutions from which they receive millions of dollars annually in direct corporate contributions and benefit from other financial partnerships and arrangements. These are the same organizations that pressured banks to make subprime mortgage loans and thus bear a major responsibility for the collapse of the housing market.
In light of recent evidence linking ACORN to possible criminal activity, Democrats took an unprecedented step today to give ACORN a potential role alongside bank regulators in overseeing financial institutions. This is contrary to recent actions taken by the Senate and House to block federal funds to ACORN.
A recent inquiry into bank funding of ACORN activities by three House Committees found that institutions that would be regulated by the CFPA have provided millions of dollars to the organization in the form of direct donations, lines of credit, cash, and other assets over the last 15 years.
The amendment passed on a vote to 35-33. Click here to view the vote.
Most people don’t realize that the federal funding resumes as normal in....8 days.
ALL BETTER..!!
ACORN to Goldman, “We’re really impressed with the fitness of your documentation, but one omission that we noted is that YOU LACK A KIDDIE HO HOUSE.....”
Occupied by illegal aliens.
I can't believe this. If there was ever a reason for even Democrats to not vote Democrat for 40 years, this should be one among many recent reasons the Democrat political machine has given for people to abandon them.
It is coming if these Communists don't back off.
Marxine Waters is tight with The Obammunist.
yitbos
One question that needs to be asked.
WHY THE HELL AREN’T FINANCIAL INSTITUTIONS SCREAMING BLOODY MURDER?
All democrats.
Nothing has changed...
Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.
Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.
We’re most certainly now in bizarro-world.
We have got to have a 94 all over again! Get those democrats out and clean house!
satire or suicide.
She may be shallow and narrow-minded but at least she's angry, judgmental and overwhelmingly corrupt.
Well, they ain't going to.
Keep pushing us, we are at the breaking point.
Well, I'm kinda pink, which is a color. And with each passing year, my skin is being covered with more blue veins, so I'm sure that makes ME colored, colored with BLUE. So, I want MY reparations!
I have a nasty habit of overlooking the finer points of some.
Shoot, she has sexy over sized jowls too!
Am I forgiven now?
Does anyone know if this is actually for real?!
Here is the link to this tur*’s vote...
http://republicans.financialservices.house.gov/images/stories/102209cfpawaters006.pdf
look at Grayson,, aye
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