Shutting down the CFPB

[Anonymous]

Anonymous wrote:CFPB was created after the housing crises by an act of Congress. The Executive branch still hasn’t explained how they’re able to shut down an agency like this.

They can’t.
Their actions are illegal. They are just trying to distract and exhaust.

Trump is welcome to invite the appropriate committee chairs to the White House to discuss his concerns about CFPB. Then Congress can decide if any changes need to be made.

[Anonymous]

Anonymous wrote:Perfect. I have been seeking revenge on shrieking Elizabeth Warren since Dodd Frank. I can't wait to watch her in hearings sputtering all over her Talbot's outlet jacket from 1997.

Who knew Jamie Dimon posted on DCUM.

[Anonymous]

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

[Anonymous]

The staff is Democrats.

[Anonymous]

Anonymous wrote:

Anonymous wrote:CFPB has had a target on its back since it was first instituted (GOP previously tried to take it down through the court process).

I’m honesty surprised they didn’t start with CFPB and instead went after USAID as the first scapegoat agency. Maybe they wanted to test whether it would work.

I think they did USAID first because the creation of CFPB occurred under Dodd Frank in the wake of the 2008 GFC.

I think they did USAID first because Elon Musk didn't want the inspector general reports to leak out. He likely removed the evidence from USAID.

[Anonymous]

Anonymous wrote:The staff is Democrats.

The early hiring by the chairman. He's looking at one pick, and saying looks like a good liberal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

Except its not bc its ALL about consolidating Executive power. Eyes on the real issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

It's an independent agency. And the director is running the agency as he sees fit. Congress can't intervene by defunding the agency, because they gave an independent funding mechanism for CFPB.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

Except its not bc its ALL about consolidating Executive power. Eyes on the real issue.

Oh yes I agree. Both situations are absolutely unconstitutional and surely test balloons for enormous expansion of executive power. But the justification soundbites used for shutting down USAID don’t translate easily to CFPB. I’m curious (in a morbid way) what talking points they’ll distribute to their base on this one. I’m sure we will see them repeated on this board soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

It's an independent agency. And the director is running the agency as he sees fit. Congress can't intervene by defunding the agency, because they gave an independent funding mechanism for CFPB.

Ah ok a new talking point already! The director could easily create a weaker CFPB, as happened under Trump 1.

Instead, they say they’re shutting it down. Staff literally are not allowed to work. But CFPB has several statutory obligations, including ones transferred from other agencies upon its creation. Dodd Frank is pretty clear. So the administration will just refuse to follow them? That’s a different question entirely. That’s defiance of Congress, regardless of the funding and director structure.

[Anonymous]

Everything he’s doing is to allow scams, bribery, and financial crimes to run rampant with no oversight. He shut down the group in charge of monitoring kleptocracy and foreign money in elections, too.

He wants to crash it all and have us bail out their crypto scam so they can control everything. That’s his MO: create a problem, pretend to solve it, personally benefit from the “save”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

It's an independent agency. And the director is running the agency as he sees fit. Congress can't intervene by defunding the agency, because they gave an independent funding mechanism for CFPB.

Wait. You know that there are several independent agencies, including ones not appropriated by Congress like CFPB, and they all still have to follow the law, right?

…Right??

[Anonymous]

I wonder how soon the CFPB lawsuit will be filed?

Trump is losing almost every preliminary hearing (birthright citizenship, fork/deferred resignation, federal grant freeze, USAID, etc).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Of course the republicans want to take down the agency that protects ordinary people and hurts big banks.

This! This is what the don’t understand.

Will be interesting to see the spin on this one, given that CFPB directly helps individual Americans. They can’t make the same arguments they made about foreign aid, such as we should spend the money to help people in our own country, etc. And CFPB’s establishment as an independent agency via statute is very clear. So it’s pretty different in kind than the USAID situation.

Except it’s not bc it’s ALL about consolidating Executive power. Eyes on the real issue.

What scares me is that these are not the actions of people who plan on leaving anytime soon. Or ever. These court cases are going to go on for 2+ years. They are not expanding presidential power just so they can lose it to a new administration almost immediately.

That’s what really frightens me.