President Donald Trump is going after yet another one of Obama’s radical left-wing legacies: the Consumer Financial Protection Bureau (CFPB). The CFPB was created in 2010 by the Dodd-Frank Act. This was designed by radical Senator Elizabeth Warren when she was an Obama advisor. Since then, it’s been used as a political weapon by the far left.
“The CFPB consistently oversteps its bounds. It is prohibited from regulating car deals, yet it does so anyway. It is prohibited from collecting personal data from consumers, yet it does so at a scale that rivals the NSA’s most controversial data gathering operations.”
The CFPB draws funding from the Federal Reserve’s operating expenses rather than annual appropriation, making it unaccountable to Congress. Additionally, the director could only be removed by the president, under certain circumstances. This sidesteps any kind of checks and balances that the congressional or executive powers could give.
“The bureau’s creators claim it needed this unique autonomy from Congress and the president so it could operate free of politics. However, it appears what the CFPB really wanted was a shield against conservative politics. The Washington Examiner found that political donations from bureau employees have been overwhelmingly Democratic. Since 2011, 593 CFPB employees have donated a total of $114,859 to Democratic candidates or groups, while only one employee has given to a Republican – $1,000 to Mitt Romney in 2012.”
After Thanksgiving, CFPB Director Richard Cordray announced his resignation with eight months left in his term. Additionally, he put his chief of staff, Leandra English, the deputy director, setting her up to become the next acting director.
However, President Trump exercised his powers by filling the vacancy and appointing Director Mick Mulvaney as acting director. However, English is claiming that President Trump doesn’t have the power to appoint him.
English’s opposition to the appointment only shows the bureau’s arrogant culture surrounding the flawed agency. English is trying to keep Mulvaney out of the position, even requesting for a restraining order against Mulvaney to keep him from leading the agency. However, this request was denied by US District Judge Timothy Kelly.