Saturday, November 25, 2017

This is Why Republicans Cannot Govern

Republicans don't care about any of the laws that thwart them when they want to establish dominance and control over Federal agencies that look out for the American people:

President Donald Trump named an interim head of the Consumer Financial Protection Bureau shortly after the outgoing director appointed his own successor, signaling a potential showdown over who's in charge of the federal watchdog agency.

Trump named Mick Mulvaney, the current director of the Office of Management and Budget, as interim director of the consumer watchdog agency.

"Director Mulvaney will serve as acting director until a permanent director is nominated and confirmed," the White House said in a statement Friday. 

But hours before, the consumer agency's outgoing director, Richard Cordray, had sent a letter to Trump, declaring he was officially done leading the agency once the clock struck midnight.

Cordray named his chief of staff, Leandra English, as deputy director, which essentially establishes her as the bureau's acting director.

And that should be that, right? The law says that the appointed head of the agency can pick a temporary successor until the president nominates a person for the job. The separation of powers gives the U.S. Senate the responsibility of reviewing that person's qualifications for the job. But, no, we're living in the age of Trump.

The law means nothing. These assholes cannot govern. Everyone knows it.

This is an agency that looks out for the American people, and so the Republicans want to destroy it. I mean, how can you not admire a Federal Agency that puts money into people's pockets like this:

Securing Almost $12 Billion in Consumer Relief

The CFPB helped over 29 million individual consumers receive $11.8 billion dollars in due relief, while responding to over 1 million consumer complaints since openings its doors.[2]

Through enforcement action alone, the CFPB reduced $7.7 billion in consumer debts while winning $3.7 billion in compensation for consumers.[3]

Nearly 50 million households have benefited from new CFPB mortgage servicing protections that protect consumers from surprise costs and terms when repaying their mortgage, and offer additional protection if a borrower falls behind on their mortgage payment.[4]

More recently, the CFPB, partnering with the Los Angeles City Attorney’s Office and the Office of the Comptroller of the Currency, uncovered deceptive banking practices at Wells Fargo Bank defrauding millions of customers.[5]  Enforcement action by the CFPB forced Wells Fargo to pay full refunds to consumers harmed by illegal practices and to pay a $100 million penalty for their wanton behavior.

Protecting Service Members from Predatory Practices

The CFPB’s enforcement actions provided $130 million in due compensation to service members, veterans, and their families that were harmed by illegal private sector predatory practices.[6]

In collaboration with the Department of Defense (DOD), the Office of Servicemember Affairs at the CFPB visited more than 145 military installations, handling over 71,000 consumer complaints from service members and their families,[7] and advised DOD on better rules to protect service members from financial exploitation.[8]

Saving Consumers $16 Billion in Undisclosed Credit Card Fees

The Credit Card Accountability, Responsibility and Disclosure (CARD) Act, now under CFPB jurisdiction, reined in the usurious late fees charged on credit cards, limited predatory practices targeting young consumers on college campuses, curtailed sharp interest rate hikes, increased access to consumer credit, and made credit card costs more transparent, saving consumers more than $16 billion in undisclosed fees.[9]

The number of new consumer credit cards increased steadily since implementation and enforcement of the CARD Act to 6.5 million new credit cards and $37.5 billion in available credit in July of 2016.[10]

In collaboration with private industry, the CFPB made it easier for stay-at-home spouses to gain access to credit cards by allowing them to use total household income in their applications for new accounts or higher credit limits.  This has helped more than 16 million married individuals who do not work outside the home access necessary credit.

Not enough people voted in 2016 to prevent this from happening, and what we have now is a banana republic, so that's that. This is the 'freedom' the Republicans want to bring to the American people--the freedom to be ripped off, turned out into the cold, and abandoned to the wolves. I'm surprised Trump hasn't written an Executive Order dismantling the CFPB already. Maybe he has, and lost the crayon he uses to sign these things--who knows?

I find it hard to care. The Democratic Party is all too eager to throw itself under the bus and revisit the debacle of nominating Bernie Sanders for president. I am of the opinion that we should be done with anyone who ran in 2016 and we should look for new ideas, new voices, and someone to lead the party against Trump. No more retreads, no more apathy. Vote, Goddammit. Vote for someone who can do the job of governing.

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