Why The Consumer Financial Protection Board Has Got To Go – IOTW Report

Why The Consumer Financial Protection Board Has Got To Go

Fox Business

Like other so-called “independent agencies” (e.g, the Federal Communications Commission (FCC) or the National Labor and Relations Board (NLRB)), the CFPB is distinct from traditional executive branch agencies. Federal agencies are usually run by a presidentially appointed official who is accountable to the president. Independent agencies are unaccountable because their governing officers — typically governed by a board or commission comprised of appointees from both political parties — cannot be removed once installed.

But the CFPB is different. Its power resides in one person – a single director charged with implementing and enforcing 19 laws and accountable to no one. In fact, the CFPB – unlike any other agency “independent” or otherwise – isn’t even required to go to Congress for the money it needs to operate. Rather, it generally receives its funding through the Federal Reserve. More

9 Comments on Why The Consumer Financial Protection Board Has Got To Go

  1. Yep. A lez warren thing. Sure she’s a cuddly and like able and genuine leftist marxist nag who constantly scolds and has body movements similar to those inflatable arm flailing things they use at used car lots.

    What was my point? I forgot.

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  2. “…a single director charged with implementing and enforcing 19 laws and accountable to no one…”

    Sounds a lot like an asshole named Dr. William Walters, who brought all the American Coronavirus patients back here, against the President’s wishes and without telling him…

    “According to a State Department briefing, the missions were carried out by the Directorate of Operational Medicine within the Bureau of Medical Services. You might think that sounds like it would be part of HHS or NIH, but the Bureau of Medical Services is actually an arm of the State Department.”

    https://www.frontpagemag.com/fpm/2020/03/obama-holdover-obscure-government-arm-helped-cause-daniel-greenfield/

    The Directorate of Operational Medicine sounds like a commie name. Everything it does is a duplication of the tasks of other federal medical bureaucracies. Defund and defang now.

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  3. “receives its funding through the Federal Reserve”

    that says it all

    congress has not produced an actual budget for how many years?

    just what good is congress if they delegate all their responsibilities to “independent agencies” ???

    what are they getting paid for by the taxpayers??

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