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CFPB Director Urged to Resign Over New Rule Exposing Consumers to Predatory 'Debt Traps' in Middle of Pandemic

Originally published at http://www.commondreams.org/news/2020/07/07/cfpb-director-urged-resign-over-new-rule-exposing-consumers-predatory-debt-traps

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Our lives as the 99% are just fodder for the bonfire of Ruling Elites profits and the US Congress gleefully throws all of our lives on the pyre for the advancement of their party’s power privilege.



The primary criterion Trump uses for making agency appointments is how rapidly the appointee will be able to destroy their agency. After Kraninger strips all consumer protections from CFPB, voters will beg the gubmit to dissolve the agency and Kraninger will move on to the K Street job with her name on it…starting pay no less than $2 million per year. Great work if you can get it ?


This is what republicans do, they screw people so that price gouging corporations can profiteer off of the vulnerable.


Just when I thought the vomit would stay down.

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Here’s the dream ticket of a political party yet to ovulate or grow cojones:
Elizabeth “She was tasked with building the CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) from scratch” Warren and the former TARP FINANCIAL INSTITUTION BAIL-OUT by taxpayers (again) Special Investigator General aka SIGTARP stationed in the basement of a decrepit national capital building redolent of cesspool seepage, Neil Barofsky (see the interview with Bill Moyers after the Trump impeachment).

Read Barofsky’s memoir BAIL OUT of his well-spent time thwarting Financial Executives and criminally liable but never prosecuted corporate officers from cashing in on fraudulent claims and saving tax-payers tens of billions of dollars with rare claw-back of those caught exploiting the lack of staff that congress authorized hiring to work as SIGTARP’s staff during the lucrative bail out.

Until the bargain basement Special Investigator General of the TARP bail-out (Trump, Pence, Barr and Mnuchin all agreed that set an unfortunate precedent for bail outs of Corporate Looting yet to come…) with not much budget or staff and after reclaiming so much of the tax-payer’s money resigned from his SIGTARP position in disgust after seeing who incoming so-called reform President Obama and VP ‘MBNA’ Biden, who Barofsky had voted for, filled their financial reform cabinet with: Namely Wall Street’s A-team of Apex Predators. Including as Secretary of Treasury the former NY Federal Reserve Chief leading up to the Wall Street collapse, Timothy Geithner another Kissinger Associate, who along with Obummer’s reform Chief Economic Advisor and White House Gate Keeper Larry Summers pressured the President not to name Elizabeth Warren as the first Director of the inevitable Consumer Financial Protection Bureau (CFPB), following the Bush-Cheney-Paulson TARP bail-out by yet again double-fleeced tax-payers.

See the bail-out of the Savings and Loans (S and L’s) under George HW Bush and Daniel Quayle’s Alan Greenspan-supervised single term with bail-out resolved with much tax-payer expense padding by the appointed Resolution Trust Corporation boss William Seidman.
Seidman Puts S&L; Bailout at $500 Billion By OSWALD JOHNSTON
July 31, 1990.

Now that teaming of well-prepared do-ers Elizabeth Warren and Neil Barofsky would be a Public Interest ticket to fall flatter than George McGovern. As our body politic throughout history has preferred to put their trust in flim-flam men, from Warren Gamaliel Harding through our current Symptom In Chief. With the possible exception of Harry Truman, whose upset surprise victory after WW II and the FDR NEW DEAL era caught the East Coast and Monopolist Media Establishment by surprise. Witness the famous Chicago Tribune (a McCormick political boss owned newspaper that crusaded against the New Deal during The Great Depression as it crusaded against bank regulation after the Wall Street Stock Market Crash of 1929) headline calling the victory of Truman’s opponent Thomas Dewey was disproved the following morning after the newspapers had hit the streets.

Truman was the last and possibly only U.S. President to have slept in homeless camps after leaving his day’s work for a Kansas City railroad monopolist’s office and not earning enough money as a clerk there to either pay the rent or to complete his legal studies.

It was Elizabeth Warren, not Bernie Sanders, who after hounding Neo-Liberal E-CON’d Obummer at the tail end of the decade she spent before getting to Washington advocating and organizing as a Professor at the Elite beantown University mentioned in passing in the muck raker’s book of recent decades THE GOLDEN PASSPORT. Also happened to be where Obummer was a Constitutional Law student and edited their Law School’s LAW REVIEW before graduating to teach at Columbia U. another Ivy League elite school (as was Penn where our current Symptom In Chief graduated from the Wharton Business school pending the publication of his academic records which he never really had time or the need to read).

Watching the C-SPAN 18 minute clip on U. of Tube during the summer of 2016 of Senator Warren leading the Senate Banking Committee grilling of combined CEO\Board Chair John Stumpf (outfitted with an arm brace on his sworn testimony arm for sympathy right out of SCTV central casting) is among the few political condolences of the serial LOOTING OF THE U.S. TREASURY by the Corporate Caliphate who were then granted immunity as too big to be allowed to fail or jail.

Then the well-prepared Senator went after the insider from Wells Fargo’s Corporate Crony Caliphate who succeeded the combined CEO\Board Chair as soon to be split CEO Timothy Sloan.

Senator Warren recalling for the few viewers not glued to their sets that summer of 2016 watching Trump shred the Republican field of challengers before taking on similarly Wall Street-captured Madame Secretary of State Hillary Clinton, that ‘reform CEO’ Sloan had remained silent as all those fraudulent yet best business practices certified bid-net lines reported their profits and cashed in on compensation executive incentive bonuses in the hundreds of millions of dollars while the Wall Street valuation of Wells Fargo remained high and before the tail-spin of credibility began to affect that criminally boosted stock value.

That was after these banksters and wealth concentrators were being granted traitorous immunity from anti-trust laws on the books since Teddy Roosevelt’s ascension to Mount Rushmore riding his Trust Buster bronco. Don’t forget during the corporate bankruptcy redemption of the TARP tax-payer bail-outs where no fraudulent bid-net model designing CEO\Board Chair or liable corporate officer was criminally prosecuted for either fraud or malfeasance, Wells Fargo was permitted to use their bail-out funds not to increase lending to small businesses but to acquire a larger east coast banking rival Wachovia Bancorp. The same Wachovia Bancorp that was to be found guilty of money laundering billions of dollars for Latin American narco-cartels. That, interestingly enough, was only found to be newsworthy in the UK’s GUARDIAN\OBSERVER while not quite measuring up to the news-maker standards that the U.S. mass media market demands. Nor was there much pack press herd instinct on following up investigating how our Latin American drug cartels were investing their profits.

I know that life is short…but…Gee, there’s always time for investor tips on BUSINESS INSIDER, BLOOMBERG BILLIONAIRE NEWS, PLANET MONEY or where every week is THIS WEEK ON WALL STREET or MARKETPLACE if not FORBES 500 or FREAKANOMICS.

Mitch Ritter\Paradigm Sifters, Code Shifters and Song Chasers
Lay-Low Studios Ore-Wa
Media Discussion List

Capitalism – our species’ euphemism for subjugation, slavery and genocide – in action.

(After the endless atrocities following Carter the Christer’s victory in 1976 and Ronnie the Nazi’s victory in 1980 – anyone expecting anything else from our Masters is either incurably ignorant, hopelessly stupid or clinically delusional.)

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The CFPB was created by Elizabeth Warren.
Leave it to her “esteemed” colleagues to perversely twist it to their sadistic, greedy ends.


This is what happens when you have the greedy and corrupt running the federal government. One question to consider is whether a Biden administration would perform differently.

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Payday lenders should never of existed, we need a national bank for the whole of the US. We need the US Postal Service to again provide banking services especially in rural areas and banking and food deserts in cities across America.

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and dems have to come clean, their party of corporate thugs at the top have helped bring this country down. But we have no choice but to vote for Biden and when given a choice of a progressive down ticket do it.

This is part and parcel, of the Trump Admin’s drive to fleece the poor for the corrupt benefit of the Rich…

And don’t be surprised by their choice of axes, either, the Financial Consumers’ Protection Bureau was put there by Elizabeth Warren, to watch the Monied Big Boys (who, yes, roll on the PIRATICAL PROFITS of the very MoneyLenders this article is about), so that their worst activities could be done away with.

But to Trump, I guess, NO breakfast is complete without fleecing a consumer. They put one of their own in that top spot, and are now backing up the very bad actors and practices they were PUT THERE TO STOP.

This is standard practice for the Trump Admin. Standard BETRAYAL of the principles of America, for the benefit of the Monied Class.

America is a predatory nation. In capitalism, everything and everyone is reduced to being financial prey.