re: Trump admin to cut 90 percent of CFPB in latest layoffs

A few notes:

The cfpb has no oversight, it was designed that way, no oversight.

It was designed to reward "banks on the program" and punish the rest. Wonder how stopping credit lines for maga businesses happened? Wonder how dei was adopted so quickly by banks? Wonder how people suddenly got debanked?

They also fined organizations, and then offered a discount if they paid the fine to NGOs...that the cfpb designated. Actually found the fine and then made them pay, the mob would be jealous.

Crypto currency. Horror stories about how anyone associated with it was debanked, not just their companies, but the people who had any association with crypto.

I think the reason he is cutting 90% is because some judge told them they cant shut it down because it is independent......remember the no oversight in their charter? So leave a person to answer the phone and two janitors.

I think I love this win more than almost all the others. I feel a warmth inside that makes me smile.

The phrase “Nasty woman” might not have been invented for Pocahontas but it could have been.

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So… banking crisis on deck for October?

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How will ending the CFPB lead to a banking crisis? Explain in full detail, please.

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Student loan defaults spiked 289%. It’s WRECKING credit scores.

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Wait... you mean going 90+ days without paying on your debts is a bad thing?



Who'da thunk it?

The Trump administration must have found some really damning stuff in that fair lending lawsuit in Chicago

Many political pundits believe this case was the nail in the coffin for the CFPB. These assholes weaponized political speech.

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"In the motion, the CFPB said the request came in response to a directive issued by President Donald Trump for the agency to review past regulatory actions for improper political motivations."

CFPB Seeks to Abusive, Unjust Case Against Townstone

Today, the Acting Director of the Consumer Financial Protection Bureau (CFPB) Russ Vought is seeking to vacate the settlement the CFPB extracted from Townstone after a seven-year harassment saga. Using a “redlining screen” based on an arbitrary number of mortgages, CFPB set out to destroy a small Midwest firm with about ten employees and a radio program called Townstone Financial. After a thorough review, the CFPB is seeking to make Townstone whole by returning the six-figure penalty they were forced to pay.

“CFPB abused its power, used radical ‘equity’ arguments to tag Townstone as racist with zero evidence, and spent years persecuting and extorting them – all to further the goal of mandating DEI in lending via their regulation by enforcement tactics. The more we uncover at CFPB, the more we see how this agency was weaponized against targeted Americans,” said Acting Director Russ Vought.

“This was a flagrant misuse of government resources to destroy a small business that did nothing wrong. For the crime of protected political speech, this firm was targeted and harassed for years by this rogue agency. We are righting this wrong and protecting the First Amendment,” said Senior Advisor Dan Bishop.