The CFPB - A Democrat Organized Crime Syndicate

This topic has been discussed a bit over the last few days here, but none of the information has been consolidated, and I don't really think most here understand the incredible significance of this issue. This may very well be a scandal for the ages, but the MSM may sweep it under the rug enough because of it's complexity and ultimately keep much of the public from knowing of it's existence, or at the very least spin it against Trump and the Republicans as an anti-Consumer Protection/pro-big bank/pro-1% narrative.

This is quintessential DC corruption at it's pinnacle. It doesn't get any bigger and bolder than this.


In a nutshell, the Consumer Financial Protection Bureau, which was created in 2010 under the Dodd-Frank Act, by a super-majority Dem Congress and signed by Obama, and originally conceived and brought to fruition by Elizabeth (Pocahontas) Warren, has been outed finally for essentially being a pseudo organized crime syndicate 100% owned and controlled by nothing but Democrats. Complete with bully shake-downs, strong-arm extortion, and outright armed robbery via loaded law.

1. Democrats cleverly rigged the law, creating the Bureau so that it was allegedly an "independent financial regulatory body" free from partisanship and influence from politicians and outside lobbies/donors. They did this by setting their funding to come from the Fed Reserve and fines/penalties they institute in the course of their enforcement, rather than under Congressional budgetary jurisdiction. Also, the director of the Bureau couldn't be fired by the President or Congress without proof of gross malfeasance, which was impossible to attain since Congress had no oversight authority over the Bureau and no power of the purse. The law made them autonomous and virtually untouchable.

2. Obama did an illegal recess appointment for its director (Cordray) via Executive Order, and from there, nothing but Democrats were hired throughout the organization. A whistleblower, Ronald Rubin, has highlighted their corrupt and discriminatory hiring practices as well as bringing to light many more abuses and wrongdoings inside the Bureau. Rubin was an Enforcement Dept. attorney with the CFPB for its first 5 years, the 13th overall employee hired after its inception, as well as on the hiring committee during his tenure.

3. The CFPB did actually help a lot of "Consumers" with grievances against banks and corporations, catching a lot of legitimate fraud and corrupt practices. Thousands of lawsuits and billions in fines and penalties were paid... HOWEVER, only a small portion of those penalty monies actually made their way back to the Consumers who were grieved.

4. The CFPB "targeted" businesses with the most revenue and profits rather than the ones with the most complaints and contemptible practices, and then maximized their fines based on what the business could afford to pay rather than what was actually warranted as a penalty. And they did this many times without even doing an investigation, filing suit, or even supplying evidence. They simply coerced companies into behind the scenes non-public settlements with the threat of investigations and lawsuits. Forcing many companies to decide between paying millions in legal fees to fight the allegations, potentially taking huge PR hits and destroying reputations and brand names, causing investors to bail and flee, or simply settling for millions in secret with the caveat of keeping the entire episode quiet. THIS was textbook organized criminal extortion.

5. The CFPB then paid out hundreds of millions (possibly billions) from these penalty monies in contracts to Democrat lobbies, PR firms, and PAC's. Often paying known Democrat advertising consultants/firms tens of millions to create advertising campaigns to propagate grand stories of the CFPB "protecting the consumer from big bad capitalism". In addition to many times stonewalling audits and attempted oversight by Congress. Much of the money from fines and penalties has yet to be physically accounted for.

Just to give an example of this, Wells Fargo was caught conducting an improper employee incentive program that paid employees for every account they opened. But employees were found to be fraudulently opening hundreds of thousands of accounts under client names that didn't actually open accounts. So CFPB fined WF $185 million. Only $5 million of this went back to Consumers in restitution, and a large portion of the $180 million remaining can't be accounted for and has essentially been dived out in random slush funds or simply disappeared into the ether.

6. Cordray just resigned as director last week. Trump just appointed Mulvaney as director. Trump and Republicans will soon conduct an investigation and audit. Everyone currently under Mulvaney, however, is a Democrat, something like 600 employees, which is a major problem. Heads in the department are about to roll, but Democrats have filed lawsuits trying to stave off this impending scandal. It's suspected that these penalty monies were used as illegal slush funds by numerous Democrats associated with the Bureau, Cordray, and upper level Bureau management. And, that businesses who were considered "Rightwing" or vocally opposed to the CFPB's tactics were specifically targeted.

7. Trump and Reps plan to rewrite the laws for the CFPB, keeping the Bureau and it's intended purpose in place, but making it so it can't be abused, meaning it will be funded properly through Congressional budget jurisdiction, require regular audits, and be under full oversight from Congress. Mulvaney has a lot of work to do. Basically will have to fire damn near everyone and spend quite a bit of time re-stocking the place back up with qualified non-partisan employees. While simultaneously conducting audits and investigations of existing people, who for the time being, control all the access to the documents and files needed for said audits and investigations. Which is quite the conundrum.



These are long reads, but if you want the full picture of how extensive and corrupt this thing was, you should read them all. This is some insane shite.



March 2016: The CFPB Is a Great Example of Why People Feel Powerless.

October 2016: The Consumer Financial Protection Bureau is ruled unconstitutional.

November 2016: 100 percent of Consumer Financial Protection Bureau's donations went to Democrats.

December 2016: Conceived as a government watchdog with noble aims, the CFPB was doomed by a structure that made it an inherently political agency.

February 2017: Warren will stop at nothing to shield the Consumer Financial Protection Bureau from scrutiny. After all, it’s her signature accomplishment, and she has a political future to think about.

June 2017: Congress needs to examine the CFPB more than the CFPB needs to examine businesses.

November 2017: The CFPB’s first director cared about consumers, but he was consumed by politics.