Trump orders the CFPB to pause all activity including customer complaints

I genuinely think he doesn't understand how it effects people of his wealth and class. This is one of the few avenues to get compensation when a corporation screws you over.

Astros123 made a reasonable point for once in that this is going to hurt many invested in crypto as its a industry rife with scammers.
https://files.consumerfinance.gov/f/documents/cfpb_complaint-bulletin_crypto-assets_2022-11.pdf

This isn't funny dude. This is Salvy's life, my life... us regular folks lives that matter here. Salvy is kind of stupid and slow and is that type of person that will smear poop on his face to make liberals feel uncomfortable. He doesn't listen to me. He listens to you.

 

Not disclosing the conflict of interest is sketchy as hell.

 

Part of me believes that this administration is doing something as obviously bad with no pretense for the general public like eliminating the CFPD to test the limits of how much 35-40% of the country who are MAGA or MAGA adjacent will eat this stuff up at face value and not sour on the administration.

Eliminating the CFPD could be one of many tests to see how effective the right wing media ecosystem bubble is. They are essentially doing diagnostics on their media apparatuses to see how effective they are in locking people in just pure narratives

 

Classic SpaceGhost.

It doesn't affect me, so who gives a crap about protecting people..am i right?

 

A lot of well off people don't have the intelligence to realize their long term life satisfaction is tied directly to how healthy society is. It's capital investment mindset. Only think quarterly return at a time. Number go up, good, number go down, bad.

The more wealth disparity there is the more society degrades, becomes less safe etc.

 

I've been saying, this is a war between the empathetic vs the apathetic.

 

the rich leech on the poor as much as the poor leech on the rich.

has the movie parasite not teach y'all anything?

 

"I don't really know anything about this, but I have very strong opinions!" is his historical m.o.

 

Union sues Russell Vought over DOGE access to CFPB and attempts to shutter bureau

WASHINGTON — A union filed two lawsuits against the Consumer Financial Protection Bureau's acting director, Russell Vought, on Sunday after Vought issued a series of directives halting much of the bureau's activity.

The filings cap a tumultuous weekend for the CFPB as bureau functions were ordered paused and employees were told that the headquarters building in Washington will be closed this week, according to an email NBC News obtained from two current employees.


One lawsuit urged a judge to block the Department of Government Efficiency from accessing employee information, while the other asked a judge to block Vought's directives. Vought had instructed employees in an email Saturday to "cease all supervision and examination activity," "cease all stakeholder engagement" and pause all pending investigations, among other orders.

The lawsuits were filed by the National Treasury Employees Union, which represents employees in the CFPB.

The filing that centered on Vought's email argued that a judge should declare "that Defendant Vought’s directive to the CFPB’s employees to stop their supervision and enforcement work is unlawful" and stop Vought from additional attempts to pause this work.

The other lawsuit says three DOGE-affiliated staffers were onboarded into the bureau's internal communications system, which NBC News also previously reported. The union said Vought instructed CFPB employees to give the DOGE team "access to all non-classified CFPB systems."

The union argued that the DOGE-affiliated staffers should not be allowed to access CFPB systems, including employee information.

"These employees face irreparable harm to their privacy interests if their employee information is improperly accessed and/or disseminated by individuals associated with DOGE," the lawsuit says. "Once an employee’s personnel information is improperly disclosed, the harm to the employee cannot be undone."

The CFPB media team did not immediately respond to a request for comment Sunday night. One of Vought's directives to staffers Saturday included instructions to "not issue public communications of any type."

In addition to ordering the CFPB to halt much of its work, Vought also announced Saturday on X that he had informed the Federal Reserve that the "CFPB will not be taking its next draw of unappropriated funding because it is not ‘reasonably necessary’ to carry out its duties."

CFPB employees and allies have pushed back, with the CFPB union, a chapter of the National Treasury Employees Union, announcing a protest outside the bureau's headquarters Monday.

Sen. Elizabeth Warren, D-Mass., who helped lead the creation of the CFPB, slammed Vought's directives Saturday as "giving big banks and giant corporations the green light to scam families."

As of December, the CFPB has secured a total of more than $21 billion in various forms of consumer relief, according to the bureau.

https://www.nbcnews.com/politics/do...ge-access-cfpb-treasury-department-rcna191419

 

You know the next D President is going to outright cancel or no-pay all Space X contracts. And the FAA will slow walk all flight permissions for Space X flights. All in the name of "review".

 

This isn't a bank regulation policy question - this is a "are we a full fascist dictatorship" question where a drugged up billionaire can send a bunch of his neo Nazi acolytes around to destroy the government?

Seems no to me

 

The plan here is for that not to happen as we'll be in a total dictatorship

 

Remember when no one understood mortgage-backed securities and collateralized debt obligations? (Basically, banks aggressively issued risky mortgages to people who couldn't afford them, those were then traded, no one understood what the hell they were doing, and the leverage was so reckless that when housing prices crashed, nearly everyone was f*ed**.)

The CFPB was created after the 2008 financial crisis to prevent this kind of reckless lending and financial manipulation that led to the meltdown. It doesn’t just protect individual consumers - it safeguards financial institutions and, by extension, the entire economy.

"It won’t impact me, lol." Yeah, wait until big AI launches the latest and greatest scheme to make a quick buck off Joe and Jane. When that all comes crashing down, the big banks will once again get bailed out, and we’ll be left wondering, "Wait, why didn’t we keep an eye on those big banks?"


This is why Project 2025 was kryptonite... but only during the election.

 

My perhaps only hope for the next x years is that MAGA voters get burned economically by this Admin's campaign to break things and rethink their political allegiance. Which is a crappy place to be. But, like Space Ghost maybe, I'm more insulated than the average person to the economic wreckage. So I have competing impulses: on the one hand to say stop the pillaging for the sake of my fellow Americans, and on the other to say keep going until they wake the **** up. I have compassion for the people who are most vulnerable to Trump's predations and knew it from the start, but for whom knowing it didn't help them to stop it from coming.