Congress – Do Your Job and End the CFPB

by: Brent Smith at the Common Constitutionalist

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The Consumer Financial Protection Bureau (CFPB) was created out of the disaster that is Dodd-Frank. Mark Levin claims it is unconstitutional. And if he says it is – it is. It clearly violates the separation of powers in the Constitution.

In fact, in 2016, the DC Circuit Court of Appeals ruled that the mere structure of the CFPB violates Article II of the Constitution, as it gives broad, unchecked authority to a single individual – the director of the Bureau. Writing the majority opinion, Judge Brett Kavanaugh wrote that, “When the CFPB was established, it was structured to be headed by a single director rather than a multi-member commission. The director wields ‘enormous power,’ with the power to enforce 19 federal consumer protection statutes. The director can alone decide what rules to issue, how to enforce the laws, and what sanctions to impose.”

“No head of an independent agency has operated without a check on his or her authority—until now,” added Kavanaugh. It makes the director, radical leftists Richard Cordray, “In essence, the President of Consumer Finance,” and “the single most powerful official in the entire U.S. government, other than the president.” read more

Shut Down the CFPB – Save the $650 Million

from IBD:

Like so many bureaucracies, the Obama-era Consumer Financial Protection Bureau, a creation of the Dodd-Frank financial reform bill, began with the very best of intentions. But it has failed to do its job. Following the resignation of CFPB chief Richard Cordray, it’s a good time to consider shutting down the agency altogether.

CFPB is often mischaracterized as a “consumer watchdog” in the mainstream media. Consumer attack dog is more like it.

Set up to protect consumers from predatory lenders and rogue banks, the CFPB has in fact led to less credit for financially troubled Americans, and is arguably not even legal. And no, that’s not just our opinion.

An October 2016 Supreme Court ruling found CFPB’s structure to be unconstitutional, a violation of the separation of powers in the nation’s supreme law. read more

Can We Please Repeal Dodd-Frank Already

by: the Common Constitutionalist

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As most are aware, the government’s response to the mortgage/banking crisis was the passage of the “Wall Street Reform and Consumer Protection Act,” commonly known as Dodd-Frank, for the namesakes and supposed authors of the bill, Chris Dodd and Barney Fwank.

Dodd-Frank was signed into law on July 21, 2010, by our dear former president Obama. Practically the day after passage, Republicans came forth en masse to protest the law and vow to repeal it.

Well – it’s been 7 years – how bout it.

Just yesterday Senator Orrin Hatch declared  Dodd-Frank to be, “worse than Obamacare. I think it’s one of the worst bills that’s ever been passed through Congress.” Hatch added that, “To treat all these banks like they’re a bunch of crooks and you have to watch everything they do is, I think, beyond the pale.”

Naturally, those on the left are all a-twitter, insisting that the infinitely more competent federal government must continue to keep these “crooks” and incompetents on Wall Street in check. Without government intervention, Wall Street and Mortgage banking would look like the Wild West.

So who’s right and who’s wrong, and just why did we need the over-burdening Dodd-Frank law to begin with? read more

Dodd-Frank Will Rescue Us From Pay Day Lenders

By: the Common Constitutionalist

Short term or “Pay Day” loans have really drawn the ire of the peoples’ president, Barack Obama. So devastating are these loans to the poor and otherwise less fortunate, that Dodd-Frank, the gift that keeps giving, created another useful and desperately needed government agency – the Consumer Financial Protection Bureau (CFPB).

The LA Times reported that this began the “first federal oversight of payday lenders in 2012 amid strong criticism of the industry from fair lending and public interest groups.”

Well, I guess my work here is done and my article complete. I mean – the feds created a new bureaucracy to monitor and deal with evil, predatory Pay Day lenders, so – problem solved. Let’s move on to the next crisis.

Oh – it’s not? Let’s continue then.

Pay Day lenders are none too happy with our president – who’s just looking out for the folks and preventing lenders from laying on the “okie doke” to unsuspecting consumers. The Times claims that the “payday loan industry has argued that the loans are an important financial bridge for some consumers and that regulations should not be too onerous.” Just onerous enough I suppose. read more

Barack Obama – The Pragmatic Progressive

By: the Common Constitutionalist

Yesterday the Guardian.com posted an article entitled, “The pragmatic progressive: what sets Obama apart from Bernie Sanders.”

They kind of throw Sanders under the bus – not for being too progressive, but for not being “pragmatic,” like our dear president.

First, let me define pragmatic. It is, “of or relating to a practical point of view or practical considerations.”

The article begins by paraphrasing Sanders calling out both Hillary and Obama. “The status quo has been woefully insufficient, he argues, not simply because of Republican obstruction but also thanks to the complicity of the Democratic establishment. That establishment includes Hillary Clinton and the current occupant of the White House.”

Yet one might describe a pragmatic person as someone who accepts compromise – gets what he can “practically” get and lives with the rest. This hardly describes Obama, unless pragmatism suddenly means to get “practically” anything and everything he wanted.

According to the Guardian, this appears to be the reason why the equally progressive Obama has succeeded where Bernie has evidently failed – although Sanders hasn’t really failed, as he brought millions of dimwitted, ignorant of history, communist want-to-be’s out of the shadows. read more

Republicans Reveal Their Plan to Crush Conservatives

by: the Common Constitutionalist

Well, this past weekend, the establishment wing of the Republican Party finally laid its cards on the table. They’ve finally thrown off the veil of faux conservatism to show the entire world just who they really are. The question is – are we now smart enough to see them for who they are?

With the passage of the CROmnibus in the House, during the lame-duck session, they’ve shown that they don’t care a whit about their conservative base, or the American people in general.

Few in the House objected (Louis Gohmert, Michelle Bachmann, etc.) and once again it was up to Ted Cruz (and Mike Lee) in the Senate to tell the truth.

Well, here’s another truth regarding CROmnibus. Some of you may already be aware of it.

Remember when Mitch McConnell said during the last primary season that he wanted to crush the Tea Party – that they (we) wouldn’t win a single primary – that they (the ruling class) will be the Tea Party everywhere? read more