[thouworm]

The revelations in this article are only the tip of the iceberg.

CFBP is flying below the radar screen.

It has been a beneficiary of corruption-overload---as has its new director, Cordray, who sailed through his appointment with little flack.

Some compare CFPB to the NSA as far as virtually unlimited data-collection prerogatives, but far WORSE because there exists NO Congressional oversight or power of the purse.:

“Congress has less control over this agency than the National Security Agency because authors of the bill that created the consumer bureau gave it funding not through Congress, but through the Federal Reserve,” Enzi explained.

"Moreover, as Will noted in his column, the CFPB director is appointed by the president for a five-year — but potentially indefinite — term and cannot be removed for policy reasons.

In other words, outside of a court order, there is next to nothing that can stop the CFPB from doing whatever it pleases to whomever it pleases. Chamber of Commerce spokesperson Lisa Burgess told the Daily Caller that the Chamber considers litigation “an act of last resort,” but judging from the charges leveled by Hirschmann, one suspects that last resort is fast approaching."

Source

SunkenCiv: Do you have a list on CFPB?

All: For more on CFPB see FR keyword

[LucyT]

Check out article, - then:

The revelations in this article are only the tip of the iceberg.

Consumer Financial Protection Bureau = (CFPB)

CFBP is flying below the radar screen.

It has been a beneficiary of corruption-overload---as has its new director, Cordray, who sailed through his appointment with little flack.

Some compare CFPB to the NSA as far as virtually unlimited data-collection prerogatives, - - but far WORSE because there exists NO Congressional oversight or power of the purse.:

“Congress has less control over this agency than the National Security Agency because authors of the bill that created the consumer bureau gave it funding not through Congress, but through the Federal Reserve,” Enzi explained.

"Moreover, as Will noted in his column, the CFPB director is appointed by the president for a five-year — but potentially indefinite — term and cannot be removed for policy reasons.

In other words, outside of a court order, there is next to nothing that can stop the CFPB from doing whatever it pleases to whomever it pleases. Chamber of Commerce spokesperson Lisa Burgess told the Daily Caller that the Chamber considers litigation “an act of last resort,” but judging from the charges leveled by Hirschmann, one suspects that last resort is fast approaching."

. . . . Source & More at # 6.

Thanks, thouworm.

[maggief]

http://www.breitbart.com/Big-Government/2013/07/17/mccain-orchestrates-another-gop-surrender

McCain Orchestrates Another GOP Surrender

EXCERPT

GOP objections to many of the pending nominations were not minor. The first nomination to be approved under the McCain deal was Richard Cordray to be the first Director of the new Consumer Financial Protection Bureau. The CFPB was enacted under the Dodd-Frank legislation and holds sweeping powers over all aspects of the financial and credit sector.

When Cordray was first nominated two years ago, McCain and all but 2 GOP Senators signed a letter vowing to block any nomination unless reforms were made to the agency. A major concern was that Congress was specifically prohibited from exercising any oversight over the Agency’s budget. The promise to block that nomination wasn’t prompted by concerns about a specific nominee, but a fundamental political principle. McCain’s deal is further confirmation that principle are cheap in Washington.

[bgill]

Bottom line, the director is there as long as SCOTUS and as hard to remove. Who says anyone in this admin will be removed in ‘16.