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Trump victory over Obama holdovers at the CFPB who are alleged to have conned banks into funding ant-Trump organizations

Trump victory over Obama holdovers at the CFPB who are alleged to have conned banks into funding ant-Trump organizations

When two of the biggest swamp dwellers in Washington pushed through the corrupt Dodd-Frank Banking Reform Act back in 2010, one of the by-products of this egregious legislation was in the creation of the Consumer Financial Protection Bureau.  And with prior Obama era holdovers actually suing the Trump administration for replacing them in offices they felt ‘entitled’ to have, a judge laid down the law on Nov. 28 by saying the President can appoint anyone he feels to run the quasi-governmental office.

As Bloomberg reports, Trump’s budget director Mick Mulvaney can remain as temporary head of the agency, a federal judge ruled in rejecting a request to block the move from Leandra English, who was named to the role by the departing director.

U.S. District Judge Timothy Kelly in Washington rebuffed English, who sued to Nov. 26, contending she is entitled to the provisional post. –  Zerohedge

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But while this ruling was indeed a victory for President Trump, it appears to be only the tip of the iceberg as the office originally setup by progressives under Barack Obama was coercing and conning banks into funding progressive community organizations which in turn were using that money to try to affect the 2016 election under anti-Trump campaigns.

The Washington-based group boasts more than 600 member organizations who lobby lawmakers through list-serves, mailings, sign-on letters and conference calls. Though it’s assumed that funds distributed to such “qualified organizations” will be used for housing assistance, the bank-settlement agreements do not enforce how the funds are spent.

“It stands to reason that some of the settlement funds have helped bankroll the resistance” bent on stopping the Trump agenda for America, Competitive Enterprise Institute senior fellow John Berlau said.

It’s not clear how much money, in all, has been diverted from settlement funds to these and other left-wing organizations. Attorney General Jeff Sessions has ordered a full audit of the funds while discontinuing the practice of funneling Justice Department settlements to third-party groups.

“Any settlement funds should go first to the victims and then to the American people [through the US Treasury] — not to bankroll third-party special interest groups or the political friends of whoever is in power,” Sessions said in a recent statement.

Still, The Post has learned that the Consumer Financial Protection Bureau continues to force financial institutions it prosecutes to donate to third-party community organizers. More, penalties in such cases are deposited into the Bureau’s now-$170 million-plus Civil Penalty Fund, which has, in turn, channeled almost $30 million to “consumer advocacy” groups. – NY Post

Almost a year into his first term in office, President Trump is still dealing with the repercussions of the most corrupt President administrations in history following Barack Obama’s eight years in office.  And hopefully today’s ruling may be the beginning of the end for the CFPB, and the multitude of swamp dwellers who were using the office to con financial institutions into funding private Democratic organizations.

Kenneth Schortgen Jr is a writer for The Daily Economist,,, and Viral Liberty, and hosts the popular youtube podcast on Mondays, Wednesdays and Fridays. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.



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