President Trump’s executive orders slashing onerous Obama-era regulations on industry have been credited with kick-starting the sluggish economy and rocket-boosting the stock market. But there’s one mountain of red tape that’s eluded his machete — the Obama-created Consumer Financial Protection Bureau. Until now.
Last week, the White House finally wrested control of the mammoth regulatory agency following the resignation of CFPB Director Richard Cordray, an Obama appointee and liberal Democrat who quit his special five-year post early to run for Ohio governor. Trump installed his conservative budget director, Mick Mulvaney, to temporarily take over the powerful agency — which has the authority to determine the “fairness” of virtually every financial transaction in America.
From The Gateway Pundit:
Was the real reason behind Senator Elizabeth Warren’s outrage over Mick Mulvaney’s appointment as director of the Consumer Financial Protection Bureau (CFPB) about her own political survival?
The New York Post’s Paul Sperry reports that the CFPB is engaged in a wide-variety of corruption.
Everything from amassing secret ledgers to using penalties to ‘launder,’ funds into left-wing causes. Of course, because the CFPB operates independently of the U.S. Government, a full audit of the agency’s balance sheet have never been done. This sad reality may very well change under Mulvaney’s leadership.
New York Post reports:
Bounced business owners and industry reps from secret meetings it’s held with Democrat operatives, radical civil-rights activists, trial lawyers and other “community advisers,” according to a report by the House Financial Services Committee.
Retained GMMB, the liberal advocacy group that created ads for the Obama and Hillary Clinton presidential campaigns, for more than $40 million, making the Democrat shop the sole recipient of CFPB’s advertising expenditure, Rubin says. […]
Funneled a large portion of the more than $5 billion in penalties collected from defendants to community organizers aligned with Democrats — “a slush fund by another name,” said a consultant who worked with CFPB on its Civil Penalty Fund and requested anonymity.
Reports of the CFPB awarding lucrative contracts to left-leaning organizations is nothing new.
The CFPB awarded GMMB, the Obama-Hillary ad firm, a $14.7 million contract for “agency media and resource communication,” in June of 2017 and a $16 million payday to marketing materials about student loans and mortgages.
“Most likely President Trump will not appoint a replacement until Mulvaney has exposed the corruption within it. That sunlight is toxic to Elizabeth Warren and can potentially be politically destructive to the Democrats.” wrote Sundance of Conservative Treehouse on November 27th.
While the amount revealed pales in comparison to what is really ‘under the hood,’ it’s important to remember the CFPB’s activities are shrouded in mystery. Perhaps, not for long if the Trump administration gets its way.
Warren may one day see the sunlight.
Most likely President Trump will not appoint a replacement until Mulvaney has exposed the corruption within the bureau. That sunlight is toxic to Elizabeth Warren and can potentially be politically destructive to the Democrats. If the secrets within the bureau are revealed, there’s a much greater likelihood the bureau will be dissolved.
There are billions of scheme and graft at stake. Within the record-keeping there are more than likely dozens of progressive/Democrat organizations being financed by the secret enterprise that operates without oversight.