The two Congressional Review Act resolutions now go to President Trump.
Russell Vought
Posted inMoney, Politics, and Power
How Corporate Pardons Create Monopolies
Rocket wants to became the only mortgage company in America. The CFPB found its tactics to be illegal—until Donald Trump let the company off the hook.
Posted inEconomic Policy
CFPB to Employees: When We Said Stop Work, We Didn’t Mean Stop Work!
The illegal plan to dismantle the consumer agency is failing. So Russ Vought and his charges are engaging in some CYA.
Posted inEconomic Policy
The Plot to Destroy the CFPB
Declarations in a court case involving the union of the consumer protection agency detail a desire to whittle it down to ‘five men in a room.’
Posted inMoney, Politics, and Power
The CFPB Shutdown Is Entirely About Payment Apps
Elon Musk and other Big Tech CEOs want to manage your money without any regulatory protections.
Posted inEconomic Policy
Banks Approve of Republicans Increasing Bank Fees
A Biden-era CFPB rule limiting overdraft fees is under challenge, and lawmakers used bank lobbyists for their testimonials.
Posted inEconomic Policy
Vought Restores CFPB Procedure That Sustains Mortgage Markets
The situation reveals that sometimes, even arsonists need the building they’re burning down to stay upright.
Posted inEconomic Policy
Even Bankers Don’t Want to Delete the CFPB
Industry trade groups are alarmed that the Trump administration’s illegal order to halt work at the consumer protection agency will cause chaos in consumer markets.
Posted inMoney, Politics, and Power
Vought Stops CFPB From Functioning With Illegal Order
The budget director and acting head of the CFPB also tried to defund the agency, but found it was already funded through the fiscal year.
Posted inPolitics
Presidential Bid to Take Over Federal Spending Is Four Years in the Making
On the last day of Trump’s first term, Office of Management and Budget officials asserted that presidents can alter spending they don’t like. They’re returning to OMB to finish the job.