Skip to comments.Obama’s CFPB records ‘bad behavior’ by debt collectors without investigating complaints
Posted on 03/25/2014 4:08:50 AM PDT by mgist
Obamas Consumer Financial Protection Bureau records bad behavior by debt collectors without investigating complaints The Obama administrations Consumer Financial Protection Bureau (CFPB) uses subjective criteria for analyzing complaints against debt collectors that ties collectors to bad behavior without actually investigating for realmisconduct, according to a leading trade group.
CFPB, an agency created by the Obama administration with the guidance of now-Senator Elizabeth Warren, presented an annual report Thursday that seeks to justify the CFPBs existence but leaves errors unaccounted for, according to ACA International, the countrys largest third-person debt collection industry trade group.
CFPB, which prevented Republican Rep. Sean Duffy from gaining entrance to its Thursday advisory committee meeting, earned a sharp rebuke from the debt collecting industry for allegedly recording misconduct where none occurs.
The CFPBs definition of a complaint is very subjective. While a consumer may not like something (such as being contacted about a debt or receiving multiple calls) it does not mean that the collector actually did anything wrong. Neither the CFPB nor the [Federal Trade Commission] investigates these complaints as to whether a complaint actually violates the law. Painting the collection of consumer debts with a broad brush and then alluding it ties to bad behavior paints an inaccurate picture of an extremely necessary, yet sometimes uncomfortable, activity, ACA said.
2012: The agency responsible for watching over your money is now getting its own finances examined. Judicial Watch, a conservative foundation aimed at fighting government corruption, obtained financial records from the Consumer Financial Protection Bureau and says that the government agency has been spending a surprising amount of money on sign language translation services, basic banking classes for its lawyers and staff salaries. The CFPB said that none of this money is coming out of taxpayers pockets, however, since the agency is funded by the Federal Reserve. http://money.cnn.com/2012/08/21/pf/consumer-bureau-spending/
CFPB Hit With FOIA Lawsuit After Refusing To Disclose Cost Of Luxe Building Makeover ($139 MILLION)
March 20, 2014 by Ben Bullard After eight months of trying to get an affirmative response from the Consumer Financial Protection Bureau (CFPB) after filing a Freedom of Information Act (FOIA) request, the Washington Examiner has filed a lawsuit against the agency for refusing to release financial records relating to the lavish remodel of its Washington, D.C. offices. The Examiner filed the lawsuit in the U.S. District Court for the District of Columbia Wednesday with help from nonprofit government watchdog Judicial Watch. According to Examiner Executive Editor Mark Tapscott, the paper filed the suit because withholding information about how the publics money is being spent is exactly the kind of information the FOIA is meant to make available to taxpayers. Documents to explain why a government bureau is spending so lavishly on renovations to its headquarters are exactly the kind of information the FOIA is meant to make available to taxpayers.
We shouldnt have to go to court to get them, but its important to make the point that the American people have just as much of a right to know what CFPB is doing with their tax dollars as they do their local dogcatchers. The renovation project at CFPB headquarters has more than doubled since it was first announced, ballooning from an estimate of $55 million to $139 million. The Examiner had filed a FOIA last July to request not only financial information relating to the project, but also design documents created by star project architectural firm Skidmore, Owings & Merill, in hopes of reconciling the scope of the renovation with its escalating cost. http://personalliberty.com/2014/03/20/cfpb-hit-with-foia-lawsuit-after-refusing-to-disclose-cost-of-luxe-building-makeover/
Alert - Alert - this thing is just getting underway, and it’s among the top handful of Obama subversive plots. Recall the Chrysler and GM deals where the bond holders were wiped out negating 400 years of secured transactions law? Now the O-bots are trying to ruin personal contracts too - e.g. the common law since Magna Carta. I can tell all I’m 1000% sure that if the CFPB comes out ultimately telling people they needn’t pay back their loans, there wont be any more loans made to people. None. The modern economy can’t run without financing, commercial or consumer. These unaccountable communists must be stopped.
How much of the $4 trillion appropriated each year is simply not spent yet?
How can we have a government that can't even give an accounting of itself to ... Congress, the press, citizens, anyone?