Let’s dig deeper into the Consumer Financial Protection Bureau and see WHY certain politicians are desperate to keep it hidden.

 

Let’s review some of CFPB’s financials to see why these politicians are so personally involved.

July 2016 CFPB Fact Sheet

 HOW much money does CFPB collect??

WHERE does the collected money come from?

Now comes the fun part – ALLOCATIONS from the CIVIL PENALTY FUND

Fines were assessed, collected then paid to NON PROFITS AND FOUNDATIONS! Money laundering??!!

*****  Why is this taxpayer money allocated/distributed OUT??  *****

BUT It’s OKAY because we have MANAGEMENT ASSURANCES and AUDIT RESULTS

Well, at least the CFPB employees get PAID WELL

Source – CFPB

And the ICING on the Cake

JW Obtains Records Detailing Obama Administration’s Warrantless Collection of Citizens’ Personal Financial Data

Judicial Watch announced today that it has obtained records from the Consumer Financial Protection Bureau (CFPB) revealing that the agency has spent millions of dollars for the warrantless collection and analysis of Americans’ financial transactions. The documents also reveal that CFPB contractors may be required to share the information with “additional government entities.”

The records were obtained pursuant to a Freedom of Information Act (FOIA) request filed on April 24, 2013, following the April 23 Senate Banking Committee testimony of CFPB Director Richard Cordray. The documents uncovered by Judicial Watch include:

  • Overlapping contracts with multiple credit reporting agencies and accounting firms to gather, store, and share credit card data as shown in the task list of a contract with Argus Information & Advisory Services LLC worth $2.9 million
  • Deloitte Consulting: solicitation issue date 11/30/2011, award effective date 05/29/2012;
    • Deloitte Consulting: solicitation issue date 11/30/2011, award effective date 05/29/2012;
    • Argus: solicitation issue date 02/14/2012, award effective date 03/15/2012;
    • Experian: solicitation issue date 07/03/2012, award effective date 09/24/2012
  • A provision stipulating that “The contractor recognizes that, in performing this requirement, the Contractor may obtain access to non-public, confidential information, Personally Identifiable Information (PII), or proprietary information.”
  • A stipulation that “The Contractor may be required to share credit card data collected from the Banks with additional government entities as directed by the Contracting Officer’s Representative (COR).”

COULD THIS BE WHY THE POLITICIANS WERE SCRAMBLING TO KEEP “CONTROL” OF THIS UNREGULATED, UNACCOUNTABLE AGENCY THIS WEEK??