Nobody wanted the Consumer Financial Protection Bureau except for liberal Democrats like President Obama and Senator Elizabeth Warren (who oversaw its creation). It’s a “bureau” that has redundant powers and is currently in limbo as a federal appeals court ruled it is structured in violation of constitution due to the separation of powers issues that (ironically) limits the President’s ability to remove the agency’s director.
Therefore, it is no surprise to learn where people who work for the bureau, sent their political donations:
The Consumer Financial Protection Bureau is the most partisan agency in the federal government in terms of donations to candidates, according to campaign finance data.
Employees at the CFPB, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, contributed nearly $50,000 during the 2016 campaign with all of that money going to aid Hillary Clinton or her rival, the insurgent socialist Sen. Bernie Sanders, I-Vt. Agency employees made more than 300 donations during the campaign. Not one went to a Republican candidate.
Rep. Sean Duffy, R-Wisc., a frequent critic of the agency, said that it is no surprise that the agency would contribute to the Democratic campaign. Republicans have tried to reduce the scope of the bureau’s broad regulatory power since Sen. Elizabeth Warren, D-Mass., one of the most liberal lawmakers in the country, oversaw its creation.
“CFPB employees fell over each other to give money to Hillary because she supported CFPB’s desire to remain in the shadows and unaccountable to the American people,” Duffy said. “No one is shocked that Washington bureaucrats would donate to the candidate who promised to maintain and expand onerous Dodd-Frank regulations that crush our community banks and local credit unions.”
Ironically, the CFPB was established to supposedly protect consumers from greedy financial institutions. It might make sense if the CFPB could take care of their own house:
The latest troubled project is the renovation of the Consumer Financial Protection Bureau’s Washington, D.C. headquarters, which has already soared $120 million over budget.
As detailed in a new report by the Inspector General for the Board of Governors—which oversees the CFPB—the project is now expected to cost at least $215 million. That includes $145.1 million for construction and $70.7 million for architect-engineering fees, rent for temporary housing, moving costs and other expenses. IG Mark Bialek said the CFPB ignored agency procedures to secure funding approval and concluded that there is “no sound basis” to support the renovation project.
The auditor also said the agency was “unable to locate any documentation” for the project.
Like Obamacare, the CFPB needs to go.