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Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions
RepublicansFinancialServiceshouse.gov ^ | 10/22/09 | Financial Services Committee

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.


TOPICS: Breaking News; Constitution/Conservatism; Crime/Corruption; Government; News/Current Events
KEYWORDS: 111th; acorn; afghanistan; barackobama; bho44; breitbart; capandtrade; cfpa; communist; congress; constitution; corruption; crime; cultureofcorruption; czars; democrats; dollar; economy; education; elections; financialservices; freedom; glennbeck; government; hannahgiles; healthcare; hr3126; islam; israel; justice; kanjorski; maxinewaters; military; muslim; obama; obamacare; palin; patriot; politics; publiceducation; publicschools; religion; republicans; sarahpalin; scam; teaparties; veterans; waronterror
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To: OpusatFR

Most people don’t realize that the federal funding resumes as normal in....8 days.

ALL BETTER..!!


21 posted on 10/23/2009 4:02:05 PM PDT by gaijin
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To: OpusatFR

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.....”


22 posted on 10/23/2009 4:04:06 PM PDT by gaijin
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To: gaijin
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.

23 posted on 10/23/2009 4:05:35 PM PDT by EGPWS (Trust in God, question everyone else)
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To: OpusatFR
This IMO makes the Democrats an actual criminal organization thinly veiled as a political party.

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.

24 posted on 10/23/2009 4:05:54 PM PDT by A CA Guy ( God Bless America, God bless and keep safe our fighting men and women.)
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To: OpusatFR
...Civil War...

It is coming if these Communists don't back off.

25 posted on 10/23/2009 4:05:59 PM PDT by Gritty (The proper question is not whether it is "discrimination" but whether it is justified-Mona Charen)
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To: R0CK3T
"Stop the installation of COMMUNISM in America!"

Marxine Waters is tight with The Obammunist.

yitbos

26 posted on 10/23/2009 4:06:05 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: OpusatFR

One question that needs to be asked.

WHY THE HELL AREN’T FINANCIAL INSTITUTIONS SCREAMING BLOODY MURDER?


27 posted on 10/23/2009 4:07:40 PM PDT by cripplecreek (Seniors, the new shovel ready project under socialized medicine.)
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To: cripplecreek
Criminals from bottom to top.

All democrats.

Nothing has changed...

28 posted on 10/23/2009 4:08:37 PM PDT by EGPWS (Trust in God, question everyone else)
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To: bruinbirdman
Marxine Waters is tight with The Obammunist.

Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.

29 posted on 10/23/2009 4:12:41 PM PDT by EGPWS (Trust in God, question everyone else)
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To: bruinbirdman
Marxine Waters is tight with The Obammunist.

Maxine Waters is too ignorant to be anything bigger than a gnat's a**hole as a lawmaker, she is a puppet.

30 posted on 10/23/2009 4:13:13 PM PDT by EGPWS (Trust in God, question everyone else)
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To: OpusatFR

We’re most certainly now in bizarro-world.


31 posted on 10/23/2009 4:14:22 PM PDT by EternalVigilance (If they won't "secure the Blessings of Liberty to Posterity," they won't secure yours either.)
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To: OpusatFR

We have got to have a 94 all over again! Get those democrats out and clean house!


32 posted on 10/23/2009 4:14:23 PM PDT by GloriaJane (http://www.last.fm/user/GloriaJane)
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To: OpusatFR

satire or suicide.


33 posted on 10/23/2009 4:14:56 PM PDT by wiggen (Never in the history of our great country have the people had less representation than they do today)
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To: EGPWS
Maxine Waters

She may be shallow and narrow-minded but at least she's angry, judgmental and overwhelmingly corrupt.

34 posted on 10/23/2009 4:16:51 PM PDT by paulycy (Predatory Pricing = Public Option = Unethical Competition.)
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To: Gritty
It is coming if these Communists don't back off.

Well, they ain't going to.

35 posted on 10/23/2009 4:20:11 PM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: OpusatFR

Keep pushing us, we are at the breaking point.


36 posted on 10/23/2009 4:21:49 PM PDT by Indy Pendance (Live Free Or Die)
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To: STONEWALLS
...these are just another form of reparations to colored people.

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!

37 posted on 10/23/2009 4:22:06 PM PDT by savedbygrace (You are only leading if someone follows. Otherwise, you just wandered off... [Smokin' Joe])
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To: paulycy
She may be shallow and narrow-minded but at least she's angry, judgmental and overwhelmingly corrupt.

I have a nasty habit of overlooking the finer points of some.

Shoot, she has sexy over sized jowls too!

Am I forgiven now?

38 posted on 10/23/2009 4:25:32 PM PDT by EGPWS (Trust in God, question everyone else)
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To: StarFan; Dutchy; alisasny; BobFromNJ; BUNNY2003; Cacique; Clemenza; Coleus; cyborg; DKNY; ...

Does anyone know if this is actually for real?!


39 posted on 10/23/2009 4:27:37 PM PDT by nutmeg (Obamunism is destroying America)
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To: nutmeg

Here is the link to this tur*’s vote...

http://republicans.financialservices.house.gov/images/stories/102209cfpawaters006.pdf

look at Grayson,, aye


40 posted on 10/23/2009 4:30:36 PM PDT by Eagle50AE (Pray for our Armed Forces.)
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