Published by Independent Sentinel | March 27, 2021
The Consumer Financial Protection Bureau, a rogue unaccountable Obama agency, is the federal “watchdog” created to forbid “unfair, deceptive, or abusive” financial practices as part of the Dodd-Frank Act.
The Consumer Financial Protection Bureau, or CFPB, a rogue consumer watchdog agency, was gutted by then-President Donald Trump. Biden will bring it back and weaponize it to fight so-called racism.
It was conceived by Elizabeth Warren, a socialist.
According to NBC News: Democratic lawmakers, consumer finance experts, and former CFPB employees say the groundwork is being laid for it to re-emerge as the aggressive enforcement entity it was originally envisioned to be, at a time when millions of Americans face unprecedented financial hurdles resulting from the pandemic.
The article continues: The stakes are high for President Joe Biden, too: His administration has pinpointed the agency as a key weapon in his arsenal to address racial disparities in access to loans, capital, and credit, part of major campaign promises to Black Americans and other people of color who have also been disproportionately affected by the Covid-19 crisis.
In other words, if companies don’t adhere to the narrative and do as the government mandates in giving out loans to people who can’t afford them, they will be penalized by the ‘watchdog.’
It’s another power grab. This Elizabeth Warren creation will be a tool by which companies will be controlled by the government.
The Consumer Financial Protection Bureau, a rogue unaccountable Obama agency, is the federal “watchdog” created to forbid “unfair, deceptive, or abusive” financial practices as part of the Dodd-Frank Act.
It is also a rogue government unto itself, operating independently of any accountability or supervision by the President or Congress. It even has its own financing and Congress has no say over it. They can spend endlessly without any controls, using the taxpayer dollar.
