LGR4GM Posted February 10 Report Posted February 10 (edited) Russ Vought orders Consumer Financial Protection Bureau to stop work. This was the government group that made sure banks and loan sharks didn't do what they did in 2008 and crash the entire economy. https://www.cbsnews.com/news/consumer-financial-protection-bureau-stop-work-russ-vought/ Quote The Trump administration late Saturday ordered the Consumer Financial Protection Bureau, an independent government agency designed to protect consumers from corporate fraud and scams, to halt much of its work Edited February 10 by LGR4GM
LGR4GM Posted February 10 Author Report Posted February 10 Quote The CFPB officially began operations in 2011 under former President Barack Obama as part of the Dodd-Frank Act. Sen. Elizabeth Warren, who was crucial to its creation, posted on social media on Sunday that the agency had returned over $21 billion to consumers and that Vought was giving "big banks and giant corporations the green light to scam families."
LGR4GM Posted February 10 Author Report Posted February 10 More info, Elon Musk deeply involved in destroying an office that protected consumers from people like him https://www.npr.org/2025/02/07/g-s1-47322/musks-team-takes-control-of-key-systems-at-consumer-financial-protection-bureau Quote In a statement, the CFPB union said Musk's lieutenants entering the agency was "a clear attempt to attack union workers and defang the only agency that checks the greed of payment providers, as well as auto lenders like Tesla." Musk is CEO of Tesla and runs five other companies.
LGR4GM Posted February 10 Author Report Posted February 10 Musk wants the CFPB shutdown because of his plans with X Wallet. It is all a grift. https://news.bloomberglaw.com/ip-law/doge-backed-halt-at-cfpb-comes-amid-musks-plans-for-x-digital-wallet Quote Just nine days before his DOGE team visited CFPB, Musk’s X — the former Twitter — announced that it had struck a deal with Visa to process peer-to-peer payments. Musk has publicly mused about expanding into payment-services since he first took control of X in 2022. Entering that business could bring CFPB oversight under rules the agency finalized in November. The records DOGE can now access would include sensitive and potentially competitive information.
LGR4GM Posted February 10 Author Report Posted February 10 Timeline: https://news.bloomberglaw.com/ip-law/doge-backed-halt-at-cfpb-comes-amid-musks-plans-for-x-digital-wallet The team’s initial entry to CFPB Thursday had been accompanied by an “Assignment Agreement,” or a memorandum of understanding between the efficiency initiative and the consumer agency, a copy of which was seen by Bloomberg News. It explained that authority for the CFPB operation emanated from a Jan. 20 executive order. It also said that the scope of the DOGE team’s efforts would include, “work on software modernization initiatives,” the promotion of “inter-operability between agency networks and systems” and the use of software engineering to “champion the use of modern technology development and management approaches.” On Friday, four DOGE staffers—Gavin Kliger, Luke Farritor, Nikhil Rajpal and Jordan Wick — were described as needing to be onboarded and provided with complete building access in an email sent to a half-dozen CFPB officials by Chris Chilbert, the agency’s chief information officer. Chilbert asked employees to give the DOGE team the benefit of the doubt. “I know there’s a lot going on in the press and on social right now,” Chilbert wrote. “It’s hard to separate fact from fiction. Please reach out to me anytime you have questions or concerns. I’m very proud of the work we’ve done to build a strong technology foundation and I think we have a lot of good things we can show” DOGE. By Friday evening, according to an email sent by Chilbert that was seen by Bloomberg News, Vought had instructed CFPB to give DOGE administrative access – a much broader form of permissioning. A few hours later, CFPB’s X account was deleted, and the home page of the agency’s website was partially dismantled. CFPB employees who read the memorandum of understanding started backchannel discussions about it... They asked why DOGE would need to access the human resources, finance and procurement data if its goal was to modernize the agency’s software, the people said. By Saturday afternoon, according to five people familiar with the matter, the DOGE team’s administrative access had expanded, giving users the ability to choose which of the agency’s internal systems they can explore. That night, Vought began to lay the groundwork for overhauling and at least temporarily shutting down the CFPB. He sent an email to all the agency’s employees under the subject line, “Directives on Bureau Activities,” which prohibited them from issuing any public communications, continuing pending investigations or launching new probes. It also ended all supervision and examinations. On Sunday afternoon, Martinez, the chief operating officer, sent an email to CFPB staff informing them that the agency’s headquarters will be closed this week and they should work remotely. Employees who were in the office were ordered to vacate the building by the agency’s director of security.
LGR4GM Posted February 10 Author Report Posted February 10 https://www.wsj.com/finance/regulation/russell-vought-taking-over-as-new-acting-head-of-cfpb-9650d338 CFPB has a budget of roughly 600million. It had returned about 6billion in funds to consumers caught up in scams and other schemes during Biden's 4 years. The agency was investigating Elon Mush who is working on making a payment system in Twitter. Musk now has insider access to competitor information and confidential documents which will give him a leg up on his competition and also end oversight.
LTS Posted February 10 Report Posted February 10 I'm just waiting for the day when the majority of people who voted for this administration are shocked they are getting what they voted for. I'm just sad for all those who knew this crap would happen have to deal with it. I'm just afraid of what the over correction will bring in the future - or if there will be a future.
Hank Posted February 10 Report Posted February 10 14 minutes ago, LTS said: I'm just waiting for the day when the majority of people who voted for this administration are shocked they are getting what they voted for. I'm just sad for all those who knew this crap would happen have to deal with it. I'm just afraid of what the over correction will bring in the future - or if there will be a future. We had Trump four years, we knew what we were getting. The Biden/Harris administration was so bad the country said we don't want Harris, let's try Trump again.
LTS Posted February 11 Report Posted February 11 6 hours ago, Hank said: We had Trump four years, we knew what we were getting. The Biden/Harris administration was so bad the country said we don't want Harris, let's try Trump again. Do you think this current Trump regime is like the last one? I see a lot of stark differences. I wager a lot of people are wondering about it as well. I didn't want the buffoon in office the first time or this time. But yes, the country, in it's ever solidifying binary opinion, thought a retread idiot would be the best choice. The population continues to only push for two options, so we can't be surprised that we get two bad options. Perhaps its time to stop supporting Idiot Party A or Moron Party B and try something new.
Hank Posted February 11 Report Posted February 11 I agree with everything you said. I'm astonished his approval rating is so high, and I wonder what it represents, if anything.
LGR4GM Posted February 11 Author Report Posted February 11 1 hour ago, Hank said: I agree with everything you said. I'm astonished his approval rating is so high, and I wonder what it represents, if anything. That the propaganda is working.
LTS Posted February 11 Report Posted February 11 11 hours ago, LGR4GM said: That the propaganda is working. Despite all the evidence, people still believe Big Macs actually look like they do on TV. Idiocracy is real.
JujuFish Posted Monday at 06:23 PM Report Posted Monday at 06:23 PM On 2/10/2025 at 12:26 PM, Hank said: We had Trump four years, we knew what we were getting. The Biden/Harris administration was so bad the country said we don't want Harris, let's try Trump again. If the Biden/Harris administration was so bad, why did less than half the voters pick Trump?
Brawndo Posted Tuesday at 03:20 AM Report Posted Tuesday at 03:20 AM On 2/10/2025 at 8:03 PM, LTS said: Do you think this current Trump regime is like the last one? I see a lot of stark differences. I wager a lot of people are wondering about it as well. I didn't want the buffoon in office the first time or this time. But yes, the country, in its ever solidifying binary opinion, thought a retread idiot would be the best choice. The population continues to only push for two options, so we can't be surprised that we get two bad options. Perhaps it’s time to stop supporting Idiot Party A or Moron Party B and try something new. There is no one in this administration telling Trump saying Mr President you cannot do that. The Washington Post reported that several members of his original cabinet were not endorsing his candidacy. These should have been warning signs, but the Democrats really sucked on messaging this election
K-9 Posted Wednesday at 11:30 AM Report Posted Wednesday at 11:30 AM On 2/17/2025 at 10:20 PM, Brawndo said: There is no one in this administration telling Trump saying Mr President you cannot do that. The Washington Post reported that several members of his original cabinet were not endorsing his candidacy. These should have been warning signs, but the Democrats really sucked on messaging this election Yep, he’s got nothing but yes men and sycophants surrounding him. But while it would be nice if someone in his cabinet could help to rein him in, a president’s cabinet is not a check on the executive office which is why we need Congress and the courts to rediscover their morality, grow a pair, and take their oaths seriously.
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