Daily Caller:
‘Definition Of Tyranny:’ Mulvaney Asks Congress To Fix Liz Warren’s Agency.
President Donald Trump’s administration is urging Congress to reshape the Sen. Elizabeth Warren-crafted consumer finance agency before it can be used as a tool for “tyranny.”
“The [Consumer Financial Protection] Bureau is far too powerful, with precious little oversight of its activities,” CFPB acting director Mick Mulvaney said in a statement Monday. “The power wielded by the Director of the Bureau could all too easily be used to harm consumers, destroy businesses, or arbitrarily remake American financial markets.”
Mulvaney released a semi-annual report to Congress Monday, detailing the CFPB’s work between April and September 2017, when Obama appointee and current Ohio gubernatorial candidate Richard Cordray led the bureau.
“The structure and powers of this agency are not something the Founders and Framers would recognize,”Mulvaney argued in his letter accompanying the report. The CFPB appears tyrannical in that it appears to accumulate “legislative, executive, and judiciary, [powers] in the same hands,” Mulvaney suggested, quoting from James Madison’s “Federalist Number 47.” Such an accumulation of power “may justly be pronounced the very definition of tyranny,” Madison wrote.
The CFPB director’s role, as the Dodd-Frank Act defined, simultaneously fills roles: “as a one-man legislature empowered to write rules to bind parties in new ways; as an executive officer subject to limited control by the President; and as an appellate judge presiding over the Bureau’s in-house court-like adjudications,” Mulvaney said.
Conservatives have attacked the CFPB for being unconstitutional since its inception. On top of the powers designated to the role of CFPB director — the only political appointee in the agency’s structure — the president cannot remove a director without significant cause, according to the Dodd-Frank Act. If Congress doesn’t amend the structure, the Supreme Court may eventually hear a case about the constitutionality of that structure.
Mulvaney asked Congress to make four changes to the Dodd-Frank Act in order to make the CFPB more accountable: more here
They wanted agencies that had their own power, giving the Executive Branch far more power than it should have, with the expectation that they would always be in control. Wrong.
This racket sounds like it’s the Vatican City of the Deep State. Good thing Mulvaney is there to neuter it. Say, is that clown who ran the place, and got fired by Trump, still showing up at her old desk every day? I bet she quit coming in after that big rat invasion. And now I’m thinking I know who let the rats loose. You’re good, Mulvaney. Real good.
Shut it down.
“No, Mr Mulvaney, we expect the CFPB to die”
(h/t Goldfinger)
Little reported is their practice of fining companies for imagined infractions and then reducing or eliminating the fine if $x millions were donated to a left wing political organization instead.
Democrats coffers are empty because Trump put a stop to that practice at CFPB, EPA and other regulatory agencies. SCOTUS is now hearing a suit over compulsory union dues.
Dems don’t donate – they contribute YOUR tax dollars.
Drain the swamp, and red tape MAGICALLY disappears!!! How ‘BOUT dat?! 😉