CFPB Lawyer Reportedly Said Trump Has Authority To Name Interim Bureau Chief
The Consumer Financial Protection Bureau’s top lawyer wrote in a legal opinion on Saturday that President Donald Trump had the authority to name the interim director for the bureau upon the resignation of Richard Cordray, Politico reported Sunday night.
“It is my legal opinion that the president possesses the authority to designate an acting director for the bureau,” McLeod wrote in the Nov. 25 memo to top CFPB officials obtained by Politico. “I advise all bureau personnel to act consistently with the understanding that Director Mulvaney is the acting director of the CFPB.”
Despite the legal opinion issued in favor of Trump, the CFPB’s deputy director, who was named by outgoing director Richard Cordray as the interim bureau chief, sued the Trump administration on Sunday.
Upon Cordray’s resignation, Trump named Mick Mulvaney, the director of the Office of Management and Budget, the interim director of the bureau. However, Cordray chose the bureau’s deputy director, Leandra English, to serve as director until the Senate approves a permanent bureau chief.
In a lawsuit filed in the U.S. District Court for the District of Columbia Sunday, English argued that the Dodd-Frank Act allows her to take over as interim director.
In a statement to Politico, White House Press Secretary Sarah Huckabee Sanders said that McLeod’s legal opinion shows Trump has the authority to name an interim director.
“Now that the CFPB’s own General Counsel – who was hired under Richard Cordray – has notified the Bureau’s leadership that she agrees with the Administration’s and DOJ’s reading of the law, there should be no question that Director Mulvaney is the Acting Director,” Sanders said. “It is unfortunate that Mr. Cordray decided to put his political ambition above the interests of consumers with this stunt.”
Who Is Richard Cordray? (An Obama Hack)
Cordray was elected to the Ohio House of Representatives in 1990. After redistricting, Cordray decided to run for the United States House of Representatives in 1992 but was defeated.
The following year he was appointed by the Ohio Attorney General as the first Solicitor General of Ohio. His experience as Solicitor led to his appearance before the United States Supreme Court to argue six cases, where he had previously clerked. Following Republican victories in Ohio statewide elections in 1994, Cordray left his appointed position and entered the private practice of law.
While in private practice he unsuccessfully ran for Ohio Attorney General in 1998 and the United States Senate in 2000. He was elected Franklin County treasurer in 2002 and re-elected in 2004 before being elected Ohio State Treasurer in 2006.
Cordray was elected Ohio Attorney General in November 2008 to fill the remainder of the unexpired term ending January 2011. In 2010, Cordray lost his bid for re-election to former U.S. Senator Mike DeWine.
On July 17, 2011, President Barack Obama announced he would nominate Cordray to lead the United States Consumer Financial Protection Bureau. On January 4, 2012, the White House announced that it would make a recess appointment of Cordray to the post.
U.S District Judge William Pauley criticized the Consumer Financial Protection Bureau (CFPB) on Tuesday for its “indifference” on “how to distribute money left over from its 2015 settlement with Sprint Corp over unauthorized customer charges,” Reuters reported.
The judicial criticism is yet another blow to the reputation of the controversial Richard Cordray, who has been the director of the CFPB since July 2013, when the Senate confirmed his appointment. He had served as director under a recess appointment by President Obama since 2012.
Cordray has been under attack for what conservatives call his complete lack of accountability to Congress, a flaw they say was built into the enabling the Dodd-Frank Act.
The politically ambitious Cordray is aligned with the far left politics of Sen. Elizabeth Warren (D-MA), who provided the academic justification for the establishment of the new agency.
In February, Breitbart News reported that President Trump was considering firing Cordray, whose term is set to expire in 2018, but noted that “Trump can only dismiss Cordray for inefficiency, neglect of duty, or malfeasance.”
Cordray is said to be considering a run for the Democratic Party’s nomination for governor of Ohio in 2018 but has yet to pull the trigger on that decision, though his window of opportunity is rapidly closing, as Breitbart News reported in May
(Cordray is the ONLY Dept head I know of in DC that answers to NOBODY)
Judge Pauley’s blistering criticism of the CFPB comes at a bad time for Cordray.
Some in the Trump administration and House Republicans are continuing to build a “for cause” case to remove Cordray as director of the agency and Judge Pauley’s decision provides them with compelling evidence to support their case.
“The House Financial Services Committee is threatening to file contempt charges against Consumer Financial Protection Bureau Director Richard Cordray for allegedly lying about the bureau’s investigation into the Wells Fargo scandal,” American Banker reported earlier this month:
In a 15-page report released Tuesday by Republican staff, the committee claimed that the CFPB has not produced records showing that it conducted a full investigation of Wells’ branch sales practices or that it was aware of problems with phony accounts before the L.A. city attorney took action against the bank.
The report appears aimed at proving that Cordray lied to Congress in April when he testified that the CFPB had conducted an “independent and comprehensive” investigation and that the agency was already tracking Wells’ sales practices.
Cordray has disputed the House committee staff report, saying it “devolves into various misstatements and allegations about the extent of the Consumer Bureau’s cooperation with the committee’s investigation.”
Codray is out ...
The President will be able to select the interim Director, which as the Chief Executive, is well within his authority.
What Mr Cordray does next ...
... in Ohio
Of little concern to most folk
Cordray is out and is no longer a factor.
The Deputy Director has the right to sue Trump's decision according to the wording of Dodd-Frank.
Trump once again proved his contempt for the American consumer by appointing Mick Mulvaney to the post of interim director. Mulvaney has expressed his contempt for the agency in the past and in his current position of Budget Director has argued with the agency before. There is also a potential conflict of interest as Mulvaney's former Chief of Staff while he was in Congress is now chief lobbyist for Santander Bank which has pending lawsuits before the agency.
It is just one more example of Trump's propensity of naming department heads who are antithetical to the mission of the departments they are supposed to lead.
One more blow to the people who put Trump in office.
"If Clinton had won we'd be at war"Delete
Trump voters saved the peace.
Susan doesn't vote with her vagina. She once supported Jill Stein. Big Bernie fan too.Delete
“I am worried about the wars, I am worried about Syria, I am worried about all of these things that actually exist. TTP and I’m worried about fracking," Sarandon insisted. "I’m worrying about the environment. No matter who gets in they don’t address these things because money has taken over our system".Delete
Find out who all the celebs voted for here:Delete
Why would you attach that shit to a stream that is talking about the CFPB? It appears today is your day for being off subject.
Why would you assume Sarandon knows shit?
What's wrong with you?
Susan Sarandon is feelin' the Bern!Delete
Susan Sarandon spoke up about supporting Bernie Sanders, saying she wanted a level-headed leader in a time of crisis!
UPDATE: The Thelma And Louise star has officially come out in support of Green Party candidate Jill Stein.
"Quirkie talked me into it" the SuperStar said.
I'm leaving soon, Quirk, rest easy.Delete
I have no firm opinion of CFPB.
In fact I'm leaving now.
I got onto Susan S. because I happened to notice she was against Hillary.Delete
It takes you three posts to admit you were wrong?
Off topic, but interestin' -ReplyDelete
November 27, 2017
By Randolph Parrish
3500 years ago slaves toiling in the harsh mines of the Sinai scribbled some graffiti on the desert rocks. One of them wrote: "Moses then provoked astonishment." That, plus a lot of other inscriptions, deserve more than a passing glance.
Most of us know about the Exodus and Moses courtesy of Cecil B. DeMille and Charleton Heston. But archaeological evidence of those events has been slow to come by. Now in a new book, The World's Oldest Alphabet, Douglas Petrovich has deciphered the Sinai inscriptions, and for the first time outside the Bible we can read how the slaves looked at things:
"He sought occasion to cut away to barrenness our great number, our swelling without measure." (Sinai 349)
"Our bond servitude had lingered. Moses then provoked astonishment. It is a year of astonishment."
Anyone familiar with the book of Exodus will immediately spot parallels with the account of Pharaoh's attempt to reduce the number of newborn Israelites; and the subsequent actions of Moses. (Many of the Sinai inscriptions can be viewed with a simple Google search.)
So much then for the dismissive arguments that the Israelites could never have numbered enough to be considered a threat to Egypt. Or that there never was an Exodus. Or that Moses never existed.
So much then for the JEPD theory of the Pentateuch (written, according to the theory, by a variety of late authors with varying concepts about the nature of God). So much for the idea that the Israelites never lived in Egypt at all, or were just a group of wandering tribes who made up most of their history centuries later. All washed away like pharaoh's chariots.
All this should be headlines, but it isn't.
Petrovich also demonstrates how the first alphabet was likely not created by Paleo-Canaanites or Phoenicians, but by the Hebrews, who developed it by adapting Egyptian picture images for their own use during their 400-year stay in Egypt. This, in fact, was probably the world's first truly phonetic alphabet. History, which usually credits that to the merchants in the Levant, may have to be revised on this score, also.
The book is not an easy read. It is a scholarly work, laden to overflowing with citations, notes, references, and cross-checking. It is a philologist's delight. It is not written for a popular audience. (The author intends to follow it up with another volume on the Israelites in Egypt.)
If we were less preoccupied with safe spaces, trigger warnings, the introduction of all-inclusive pronouns, gender-neutral everything, and the latest Hollywood scandals, we might have taken notice of more important discoveries. But a self-absorbed society and the mainstream media's agendas have kept the focus elsewhere; and this is to be regretted, because in the meantime, genuinely significant news has been passing us by without our noticing it.
Read more: http://www.americanthinker.com/blog/2017/11/moses_vindicated_.html#ixzz4zddTWrz2
It's official !ReplyDelete
Prince 'arry is gonna marry !
(I like 'arry)
Donald Trump doubles down on his support for Judge Moore.
He also says that old Access Hollywood tape was fake news this after admitting at the time that it was him on the tape.
This is the George Orwell world we live in under Trump. Newspeak and Doublespeak, black is white and white is black, that's all we can expect from Trumpland.
Trump WILL NOT campaign for Moore before election....DRUDGEDelete
More like double crosses Judge Moore, ain't it ?
I thought this thread was about CFPB.
You have never had a coherent thought, Robert "Draft Dodger" Peterson, before
Why start now?
There's something really wrong with you, rat.Delete
I see the Idaho Spud is at it again.
Above, my comment was about the stream Deuce started with his first comment not about the overall thread.
Al Frankenfingers is about to make a statement to the Press !ReplyDelete
Well that was the shortest news conference on record.Delete
A real Frankenfarce.
Professional Mental Health professionals may be able to helo you, Robert "Draft Dodger" Peterson.Delete
Not likely, but maybe...
You sure ought to make an appointment.
There's something really wrong with you, rat.Delete
CFPB Top Lawyer: Trump’s Right, You KnowReplyDelete
ED MORRISSEYPosted at 8:41 am on November 27, 2017
A showdown looms between the CFPB and Donald Trump over appointment power in the executive branch that has already begun to wend its way through the courts. The Department of Justice’s Office of Legal Counsel — the attorneys for the attorneys, so to speak — insist that the president has the authority to name the panel’s acting director, overriding Richard Cordray’s attempts to pick his own successor. In response, the CFPB’s top attorney … agrees. Reuters reports that the board’s general counsel will tell the agency, “nice try”:
SEE ALSO: McCain on Hillary’s book: ‘What’s the f**king point?’
The top lawyer for the U.S. Consumer Financial Protection Bureau (CFPB) has concluded that President Donald Trump has the authority to name its acting director, three sources familiar with the matter said on Sunday, rejecting an effort by her former boss at the agency to name his immediate successor.
The office of CFPB General Counsel Mary McLeod has prepared a memo concurring with the opinion of the U.S. Justice Department that Trump has the power to appoint his budget chief, Mick Mulvaney, as temporary leader of the federal watchdog agency, according to the sources, who spoke on condition of anonymity.....
That's already been stated, Robert "Draft Dodger" Peterson.
Why not read before you post, then you could be a productive part of the community, instead of being so "Goofy".
There's something really wrong with you, rat.Delete
Interesting to note that eventually, Trump will have his nominee in there full time although it will have to be approved by the Senate first.
That means that the CFPB lawyers decision, is intentional or not, rather self-serving if she wants to hold on to her job.
That means that the CFPB lawyers decision is, intentional or not, rather self-serving if she wants to hold on to her job under the new leadership.
Did CFPB do anybody any good ? You be the judge -ReplyDelete
Consumer Financial Protection Bureau Fines Wells Fargo $100 Million ...
Sep 8, 2016 - WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) fined Wells Fargo Bank, N.A. $100 million for the widespread ...
Wells Fargo Bank, N.A. | Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) took action against Wells Fargo Bank for illegal private student loan servicing practices that increased costs ...
CFPB investigates scandal-ridden Wells Fargo…again | 2017-08-21 ...
Aug 21, 2017 - Wells Fargo is under investigation once again as it seems that while the bank was opening fake accounts, it could have been closing real ones.
GOP says the CFPB went easy on Wells Fargo - CBS News
https://www.cbsnews.com › MoneyWatch › Markets
Sep 21, 2017 - The CFPB also had evidence that the bank's sales problems went back ... Using the CFPB's handling of the Wells Fargo case against Cordray, ...
Republican report accuses consumer bureau of going easy on Wells ...
Sep 20, 2017 - Eventually — in a report issued by the bank's board of directors this year, roughly seven months after the CFPB's fine — Wells Fargo would ...
Consumer bureau director defends handling of Wells Fargo scandal in ...
Jun 19, 2017 - Consumer bureau director defends handling of Wells Fargo scandal ... Richard Cordray, director of the Consumer Financial Protection Bureau, testifies at a ... Fargo's sales practices before Feuer filed suit against the bank in ...
Compared to other federal agencies like the FED that are supposed to monitor and regulate the banks, of course.
I'm sure that there are Mental Health professionals that can try to help you, Robert "Draft Dodger" Peterson.ReplyDelete
The odds are against having success ...
But what the hell ...
You shouldn't give up hope ...
There's something really wrong with you, rat.Delete
This comment has been removed by the author.ReplyDelete
US Politicians vs Israeli Politicians: Which are Worse?
The question: Which is worse using public dollars to hide sexual indiscretions from the public OR legislating subversion of the criminal justice system in order to protect a prime minister.
Lawmakers advance bill barring police from recommending indictments
Kulanu party votes in favor of proposal following amendments that say any police conclusions on Netanyahu probes won't be made public
A Knesset panel on Monday approved a revised bill banning police, upon wrapping up an investigation into public officials, from informing prosecutors whether there are grounds for indictment, as well as publicizing information or leaking their conclusions to the media...
The bill has widely been seen as an attempt by Likud lawmakers to shield Netanyahu from the public fallout should police find sufficient evidence to warrant criminal charges by prosecutors.
Netanyahu is being investigated on allegations of accepting pricey gifts from billionaire benefactors and an alleged quid-pro-quo deal with a newspaper publisher, in two separate cases. The prime minister denies all the charges against him…
This comment has been removed by the author.Delete
It's a toss up.Delete
It's a democracy, after all.
"Democracy is the worst form of Government, until you've tried all the others"
Churchill was very good with clever phrases.
He was also the guy who sent his fleet to Gallipoli despite the fact that the British foreign office refused to send the required troops.
I'm pleased, and bestow my blessings -ReplyDelete
Is Meghan Markle Going To Be Prince Harry’s Jewish Princess?
....If it were only the name Rachel, dayeinu. If it were just the “Jewish chair dance”, dayeinu. But the greatest evidence in this biur chametz-like hunt for crumbs of Markle’s Jewish identity is that a spokesman for Westminster Abbey confirmed on behalf of the Church of England that, if they choose, Markle and Prince Harry will be able to marry within the church in an “interfaith” marriage, regardless of Markle’s “Jewish background”.
This brings us to the next booshah-turned-equality-milestone, which is that Markle has been married and divorced. And according to the Church of England, if that’s good enough for Henry the 8th, it should be good enough for his fellow ginger ladykiller (so to speak,) Prince Harry.
So if our hypothesis is correct and Markle and Harry marry, Markle will be the first black, Jewish, divorcee, American princess in English history. It’s worth noting that Markle is also two years older than the Prince, making their marriage a triumph for several pie slices in the chart of disadvantaged identity groups....
Read more: https://forward.com/schmooze/372756/is-meghan-markle-going-to-be-prince-harrys-jewish-princess/
North Korea on verge of 'catastrophe' at nuclear site - China warns Kim to STOP testsReplyDelete
World War 3 fears: North Korea set for missile launch in ‘NEXT FEW DAYS’ warns Japan
....NORTH Korea could launch a missile test in the “next few days”, Japan has warned.
And Hawaii is also preparing for a possible attack, reinstating missile warning sirens.
Residents have also been urged to develop emergency plans for shelter in the event of an attack.
They have been told to hide in a solid structure with enough food and water for up to two weeks....
CFPB has issued fines ranging from $1 to over $2 billion to different companies in different circumstances. insideARM has tallied up the penalties and found that, to date, the CFPB has ordered over $5 billion in total penalties since opening for business.ReplyDelete
Who paid it?
Who gets the money?
When Giant Banks Pay Fines, Where Does the Money Go? Does It Stop Crime?
Fines are bigger than ever, but financial firms keep making profits, and the rest of us pay.
By Lynn Stuart Parramore / AlterNet October 8, 2013, 11:23 AM GMT
Photo Credit: © Gl0ck/Shutterstock.com
If somebody broke into your home and stole your belongings, you’d expect to see some serious consequences if they got caught. But when banks and financial firms rob, defraud and mismanage the money of Americans—and even cast them out of their own homes illegally—the worst that usually happens is a fine.
Since the recent financial crisis and housing collapse, some of Wall Street’s biggest banks have faced fines from regulators reaching into billion-dollar territory. In the latest news, JPMorgan Chase is looking at $11 billion in fines for pushing crap mortgage securities on unwary investors.
That sounds like a hefty amount of cash—it’s about the gross domestic product of Kenya, and tops that of Iceland and Bahrain. As journalist Pat Garafalo has noted, $11 billion is equal to what all the major banks paid together in 2012. The sum would be the largest single financial fine in history, if in fact it ever is paid (JPMorgan Chase is reported to be in negotiations that might reduce it).
So what happens to all that dough? Will it really change anything?
Let’s follow the money trail.
Who gets fined, and for what?
When the bureau collects civil penalties, it drops them into something called the Civil Penalty Fund, which was established by the Dodd Frank legislation in 2010. The bureau will use the money in the Civil Penalty Fund to provide some compensation to victims, an amount which depends on various factors such as how much the victim has gotten from other sources. When the CFPB can’t find the victim or determines, for whatever reason, that it’s not “practicable” to pay them, the money goes to “consumer education” and “financial literacy programs.” That last bit is a little vague.
And the Alternative?
Admittedly, the system is broken. The only way to fix it is to actually criminally charge the individuals responsible, including those executives at the top who were aware of these practices, and put them away for as long as possible instead of allowing them to retire along with their 'negotiated' golden parachutes.
Chances of that happening? Probably nil.
The article mentions what's wrong with the current system but it fails to mention how the executives are allowed to walk away with hundreds of millions of dollars after running their companies into the ground.
Stockholders suffering? Stockholders were riding high at Wells Fargo when the bank was running off tens of thousands of forged credit card accounts. I can't get real excited about stockholders losing their shirt when the stock price hit the fan after the scandal broke. And the stockholders aren't innocent in any of these incidents. They are the ones who keep electing these boards of directors that put these clowns in positions of power and pay them a bundle.
The article points out problems but offers zero alternatives to the current system. Surely, the author is not suggesting that we do away with these agencies including the CFPB. They are the only voice, albeit a pitifully small one, the little guy has in D.C.
In the Wells Fargo, case the company was fined $100 million, there was a shakeup in the Board, the CEO was forced to resign, and the company was embarrassed and their stock dropped to the lowest level in 3 years, they were forced to promise they would cut out certain practices. It certainly wasn't enough for the crimes committed but at least it was something. Without these agencies Wells Fargo would likely still be opening phony credit card accounts in peoples names.
Are you talking about the ex-CPFB?
The CFPB, an agency to protect consumer interests, was set up and funded specifically to be free from pressure from rogue congresses like the current GOP one.
Unfortunately, you might as well consider the agency at death's door. In the end, Trump will nominate a permanent director for the agency. The nomination has to be confirmed through the Senate but be assured the prime directive to the new director will be shut the agency down and if you can't do that legally emasculate it.
Consumer protection is the last thing Trump, his minions, the constituency he represents (big business and the banks), or this GOP congress is concerned about.
And the Trumpkins will shout, 'You go Don, drain that swamp' little realizing that Trump is the swamp.
Let me be clear, when I speak of a rogue GOP Congress, I mean that in the worst possible way. In general, the current GOP majority is simply a bunch of ideologues when it comes to capitalism. Those who really lack the sense to think about that statement will immediately say 'well that sounds pretty good to me'. It's not.
An ideologue can't accept that there are any problems with capitalism. They lack the common sense or the willingness to admit they any political system has its problems. They refuse to recognize any problem within the capitalistic system, in the same way that the NRA has never seen a gun it didn't like. They view anything such as a consumer protection agency as an attack on the capitalistic system. It slows down the system and even worse it is the first step on a slippery slope to socialism and anarchy. These boys really aren't very bright.
Basically, what Frankenfingers said today was:ReplyDelete
"I can't remember groping anybody but I'm sorry if I did"
That covers the waterfront, one must admit.Delete
November 27, 2017Delete
We've finally found something politicians and reporters have considered important enough to keep secret for decades
By Jack Hellner
Sherlock Holmes noticed the dog that didn't bark. Americans should pay close attention to the scandal that didn't leak.
Information from the Mueller investigation leaks like a sieve.
Information from intelligence committees and intelligence agencies has a way of showing up in newspapers.
It seems every private conversation anyone surrounding Trump had with Russians and any meeting and inadvertent handshake shows up in the press.
The illegal unmasking of information around people who know Trump is rampant.
Ben Rhodes has said the White House could plant lies about the Iran deal with selective reporters, and they would just print what they were told.
We know from DNC leaked emails that there were reporters that would just print what Democrats allowed.
Fusion GPS was able to plant false information with the media that was paid for by Democrats, and the media just reported it as genuine intelligence.
Somehow, Washington Post reporters magically were able to come up with a story about four women in Alabama from around 40 years ago after Roy Moore won a primary.
But no one seems to have ever leaked a story or reported a story about an over 20-year-old slush fund where politicians paid off people who complained – with taxpayers' money. We don't know how the fund was set up, where the appropriation came from, who approved each payoff and how the amount was decided, who drew up the documents that required secrecy, and whom the complaints were about. Why will Congress leak so many classified documents but nothing about the slush fund?
So long as nobody is watching, politicians from both parties do not care about using taxpayer money to pay off people, nor do they actually care about anyone who was abused. Otherwise, there would have been many expulsions relating to the claims paid. They care about protecting themselves – nothing else.
The swamp is extremely deep. It consists of politicians from both parties, bureaucrats, a bevy of reporters who will report what they are told, lobbyists, and others. They have amassed a great deal of power, and they will not let an outsider take that away.
Reporters should be digging deep into this slush fund, but they seem to have as much interest in that as they do in who killed Seth Rich and why.
Franken grabbed some ass ... and said he was sorry.
Robert "Draft Dodger" Peterson grabbeed $7,500 from the bank ... and calls it "payback"
Robert "Draft Dodger" Peterson not at all contrite about the crime he committed.
Which indicates that Robert "Draft Dodger" Peterson is morally inferior to Al "Grab Ass" Franken.
Jack'e a War Criminal, Self Confessed, a Dead Beat Dad, a notorious Liar, and a Jew Hater.Delete
There's something really wrong with you, rat.Delete
You may still find help from a Mental Health professional, Robert "Draft Dodger" Peterson.Delete
But since you cannot differentiate between Right & Wrong, it is doubtful that even Mental Health professionals can help the likes of you
Identity theft is just plain Wrong, Robert "Draft Dodger" Peterson.Delete
You did it to you Auntie and you are doing it trish.
You really revel in committing fraud, don't you.
Jack, you bore people to death.Delete
On a blog that ought to be a felony.
Can't you ever just shut up, or go away?
Pat Buchanan - Conservative Commentator, Columnist and Author on Sexual Harassment Controversies "This is sort of like a long fever, i think its going to take a long time to work itself out"ReplyDelete
Sharyl Attkisson - Host of Sinclair's Sunday News Show Full Measure with Sharyl Attkisson and New York Times bestselling author of The Smear: How Shady Political Operatives and Fake News Control What You See, What You Think, and How You Vote (out June 2017) on current wave of allegations "There are these professional abuses that aren't given their due coverage"
"John Conyers has been in Congress for FIFTY TWO YEARS !"ReplyDelete
from Laura Ingraham