Trump orders the CFPB to pause all activity including customer complaints

Welcome to dipshit morons thread by OS Trigonometry. oh wait, he won't quote you because he's a hack.

He's obsessed with astros123 tho.

 

https://www.wsj.com/opinion/jonatha...arren-donald-trump-372886d9?mod=hp_opin_pos_0

Don’t Cry for the CFPB, Elizabeth Warren
The Senator is angry that she is losing control of her pet regulator, but she should blame her own design.
By The Editorial Board
Feb. 25, 2025 at 5:47 pm ET

The Senate Banking Committee holds a confirmation hearing Thursday for Jonathan McKernan, President Trump’s nominee to lead the Consumer Financial Protection Bureau, and expect histrionics from Elizabeth Warren as she loses control of her baby.

The Massachusetts Democrat devised the CFPB after the 2008-09 financial panic to be independent of political control and normal constitutional checks and balances. Because the bureau obtains its funding on demand from the Federal Reserve, Congress can’t use its power of the purse as a form of oversight.

Democrats in Congress are suddenly fuming that they can’t stop the Trump Administration’s plans to overhaul the bureau. “Congress built [the CFPB], and no one other than Congress—not Donald Trump, not Elon Musk, no one—can fire the financial cops,” Ms. Warren said this month in a protest at CFPB headquarters.

Well, no, by her own design Congress can’t force the bureau to spend money, including on employee salaries. She also says no other agency will protect consumers, but plenty of other regulators can do the same job better.

States can enforce their own consumer laws, as Biden CFPB director Rohit Chopra last month stressed in a bulletin. Banking agencies also review consumer practices during exams and can ding banks for lapses. The Federal Reserve imposed a $1.95 trillion asset cap on Wells Fargo as punishment for alleged consumer abuses and compliance problems.

The Biden Federal Trade Commission sued Walmart for allegedly insufficient fraud protections in its money transfers. Mr. Chopra filed similarly dubious complaints against peer-to-peer payment apps.

The truth is that Democratic heads of the CFPB have put a higher priority on harassing businesses than protecting consumers. In the last month, the bureau fined credit bureau Equifax for “failing to thoroughly investigate disputes.” Block Inc. was dunned for “failing to provide effective customer service.” Mr. Chopra sued Vanderbilt Mortgage and Finance for making mobile home loans to people who later didn’t repay the firm. Who's the victim?

Mr. Chopra’s lawsuit against Capital One for allegedly “cheating consumers out of the more than $2 billion in interest payments on savings account” is another classic. His complaint was that Capital One didn’t increase interest rates on savings deposits as much as some other banks between 2021 and 2024, which supposedly cheated consumers.

Businesses have often agreed to pay small fines to settle CFPB complaints to avoid costly litigation. Ms. Warren and the media cite the CFPB’s some $20 billion in “consumer relief” over the last 13 years as proof that it’s protecting consumers. No, it’s proof that the CFPB can bully small businesses and startups that don’t have large legal departments to fight back.

By nominating Mr. McKernan, Mr. Trump is conceding that the agency is unlikely to be eliminated. Mr. McKernan has served on the Federal Deposit Insurance Corp. and as former Pennsylvania Sen. Pat Toomey’s counsel on the banking committee. He has pushed for easing regulation to boost banking competition while protecting consumers from actual fraud.

This is a goal that Democrats ought to support. The real reason Ms. Warren is howling in the streets is she knows she won’t be able to boss around Mr. McKernan.

Appeared in the February 26, 2025, print edition as 'Don’t Cry for the CFPB, Elizabeth Warren'.


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Omfg I'm rolling on the floor laughing at this.

Bro I did a check to see if you post sane reasonable stuff to actually change my policy of not reading your junk mail.

But dude I guess I decided to read the wrong article.

"Bullying small businesses and start ups"

 

I believe gun shops and FFL dealers were on the shitlist

 

Elon in 20-25 years talking about DOGE...........

 

People like Elon live in the moment. The high of having the power to cease all Treasury department payments of the worlds largest government in world history can make someone who already is brain broken with the wealth they have to not understand the long term consequences of their actions.

Musk is 53 years old. He isn't 80 like Trump. Trump is at a age where the unhinged fascist power grab he is doing that always results in a epic downfall somewhere down the line means he has a decent chance of dying before witnessing the downfall. He will probably die a happy man with immense power.

Musk at 53 means he has a much stronger likelyhood of witnessing his crash from grace. The end state route for Musk will be some sort of mob based death, criminal prosecution or exile into some South American country like previous fascists and Nazis where they live the remaining days of their lives in some compound in some jungle with some sex cult.

Musk has very little avenues of possibilities with avenues of his future possibilities given the power grab he has experienced at relatively a young age.

Basically there is no soft landing exit ramp for Elon to walk quietly into the sunset.

 

America is fat and complacent.

For all of the b****ing in left wing corners and from the media, overall America is fat and bloated and fairly satiated compared to the rest of the world and history. That isn't to say there are not problems, there are - but the typical response is to simply complain about them on social media.

It is going to require large scale suffering for the USA to take action when compared to most of the rest of the world.

The USA is so complacent that we have basically outsourced our discontent to foreign tech support (Musk).

 

I'm getting sleepy just thinking of a potential revolt after a 12 hour workday.

 

"You know, I was pissed on the drive home from work on Friday but them me and Megan had some wine Friday night and watched the new Keanu Reaves movie on Saturday and tomorrow is football.... so **** it."

 

Once people can't afford their Netflix subscriptions there will be a class revolt.