The Biden Justice Department along with their cohorts at the Consumer Financial Protection Bureau (CFPB) have broken the logic barrier once again as they issued a statement saying illegal immigrants cannot be discriminated against in getting credit.
What?
Read More
Wells Fargo, one of the largest banks in the United States is facing a lawsuit from its Hispanic employees that accuses the centuries old bank of engaging in predatory lending practices against customers of the same ethnic origin.
The lawsuit, filed June 30 in a Texas federal court, accuses Wells Fargo of pressuring Hispanic employees in San Antonio to redirect Latino customers away from home equity lines of credit to more expensive but profitable refinancing options without furnishing the usual disclosures, according to a complaint filed in court.
Read More
The Supreme Court announced Monday it would take up a case challenging the Consumer Financial Protection Bureau’s (CFPB) funding mechanism on constitutional grounds.
On Oct. 19, 2022, the U.S. Court of Appeals for the 5th Circuit ruled that funding the CFPB through the Federal Reserve violates the Constitution’s Appropriations Clause, which gives Congress the “power of the purse” in appropriating government funds. The CFPB filed a petition for a writ of certiorari on Nov. 14, 2022, which the Supreme Court granted Monday morning.
Read More
Republican senators claimed in a Monday letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra that he has returned the federal agency to its “lawless and unaccountable” Obama-era “roots.”
Led by Pennsylvania Sen. Pat Toomey, the 12 senators are taking aim at Chopra’s alleged “abuses of power” that are a “serious concern.” Chopra should “reverse course” and ensure the CFPB “stay[s] within the boundaries of law,” the senators wrote.
Read More
President-elect Joe Biden will reportedly nominate Rohit Chopra, an ally of Massachusetts Sen. Elizabeth Warren, to lead the Consumer Financial Protection Bureau.
Chopra is a member of the Federal Trade Commission (FTC), and if confirmed by the Senate would take over an agency that he helped create alongside Warren approximately a decade ago. Chopra’s selection was first reported by Politico, which cited four individuals with knowledge of the decision.
Read More
Senator Elizabeth Warren (D-MA) may no longer be running for president, but her agency lives on.
The Consumer Financial Protection Bureau (CFPB) doesn’t want to be controlled by the Trump Administration. The Supreme Court might end the agency’s streak of independence later this year. Ostensibly, the CFPB aims to protect ordinary Americans from untoward business practices. Instead, it only advances left-wing causes and identity politics.
Warren proposed the CFPB in 2007 when she was a Harvard law professor. President Barack Obama established it in 2010. It is supposed to protect Americans from malpractice in the financial industry, yet the CFPB’s main task during the Obama Administration was fighting “disparate impact.” Disparate impact is a legal concept that considers racially disproportionate outcomes as evidence of discriminatory policies, even if the policies had no discriminatory intent and were administered objectively.
Read More