Was CFPB A Money-Laundering ATM with NO OVERSIGHT?
Was the Consumer Financial Protection Bureau (CFPB) a governmental agency headed by an Obama appointee who had unfettered access to money and was using it to direct to whomever he chose without any oversight? Read the below article and you decide.
by: @BeekmanCruger 
This is a thread to explain why you’ll be seeing hit pieces like this on Mick Mulvaney who is in the process of exposing the disastrous CFPB and Elizabeth Warren. Thanks to folks like TheLastRefuge2, ThomasWictor, drawandstrike for inspiring me to get off my ass and work.
First, a reminder that CFPB was set up as an “independent” agency not constrained by congressional (or any for that matter) oversight by the Dodd-Frank bill of 2010 ostensibly to protect consumers from the type of malfeasance shown by the financial crisis in the late aughts.
It was the brainchild of Elizabeth Warren and officially set up through her then-role as Special Advisor to the Secretary of Treasury (Crowdstrike alum Tim Geithner). Look, Obama gives her all the “credit”:
Pres. Obama said Sunday that he would nominate Richard Cordray, the former attorney general of Ohio, to lead the new Consumer Financial Protection Bureau, passing over Elizabeth Warren, the Harvard law professor who was the driving force behind the agency’s creation.
Mr. Cordray came to national attention for his aggressive investigations of mortgage foreclosure practices while he was attorney general. He is already an employee of the watchdog agency, which starts formal operations on Thursday, as the leader of its enforcement division.
“Richard Cordray has spent his career advocating for middle-class families, from his tenure as Ohio’s attorney general to his most recent role as heading up the enforcement division at the C.F.P.B. and looking out for ordinary people in our financial system,” Mr. Obama said in a written statement. He is expected to formally announce the nomination on Monday. 
CFPB immediately wielded powers more than that of established independent entities like SEC and FDIC given its lack of congressional oversight/accountability. Read this from National Review:
The CFPB’s first director cared about consumers, but he was consumed by politics. On November 24, 2017, Richard Cordray resigned as director of the Consumer Financial Protection Bureau. His final year in office, and especially his exit, revealed the true nature of the agency Democrats created through the 2010 Dodd-Frank Act.
Ambitious, cerebral, and socially awkward, Cordray had alternated between stints as an accomplished lawyer and a mediocre politician before he lost Ohio’s attorney-general election in 2010 and Elizabeth Warren, then a presidential assistant, hired him to lead the nascent bureau’s enforcement division. The following July, President Obama bypassed Warren and instead nominated Cordray to be the CFPB’s first director. In the marathon standoff that ensued, Republican senators filibustered the nomination, Obama installed Cordray by using an unconstitutional recess appointment, Democrats threatened to change the filibuster rules, and Republicans surrendered. On July 16, 2013, the Senate confirmed the temporary director to a five-year term.
Perhaps it was this two-year ordeal that turned Cordray into a cynical partisan mercenary. 
From 2012-2016, it was the salad days for CFPB. Hundreds of millions coming in from tax payers and banks in the front door and millions going out the back door as directed by wherever the Obama-appointed Director Rich Cordray chooses.
Fast forward to November 2016. Yikes. Trump wins. The jig is up. In November 2017, Director Cordray steps down and TRIES to name one of his underlings as his successor.
Richard Cordray announced that Friday would be his last day leading the Consumer Financial Protection Bureau and named one of his lieutenants to immediately take over as acting director, setting up a potential standoff with the Trump administration over the controversial agency’s leadership.
In a memo to the consumer watchdog’s employees, Cordray said his current chief of staff, Leandra English, would become deputy director and automatically rise to acting director when he leaves. English has held several leadership roles under Cordray, a Barack Obama appointee who was the CFPB’s first-ever director. 
Nope. Not happening. President Trump exercises his executive right and names OMB Director (and vocal CFPB critic) Mick MulvaneyOMB to commandeer the bureau. The game is afoot.
Republicans Remain Silent as Mulvaney’s CFPB Ducks Oversight: The acting director has undermined the bureau’s work defending the public.
From the moment Congress created the Consumer Financial Protection Bureau, Republican critics ranted about the CFPB’s supposed lack of accountability. Now that one of those critics, Mick Mulvaney, has assumed control of the bureau, the attackers have fallen silent—even as Mr. Mulvaney disregards legal mandates and dodges congressional oversight. This turnabout shows Republicans never really cared about accountability. They only wanted the agency to be less effective at stopping financial firms from cheating people. 
Mick Mulvaney Replies to Elizabeth Warren: I invite Sen. Warren and other Democrats in Congress to join Republicans in this effort to bring permanent accountability and transparency to the CFPB.
I write to correct misrepresentations made by Sen. Elizabeth Warren in “Republicans Remain Silent as Mulvaney’s CFPB Ducks Oversight” (op-ed, March 29) regarding my leadership of the Consumer Financial Protection Bureau.
She claimed that the planned restructuring of the Office of Fair Lending and Equal Opportunity ignores a congressional mandate that the office “shall have such powers and duties . . . including providing oversight and enforcement of Federal laws.” In fact, Sen. Warren used an ellipsis to conceal that these… 
Mulvaney is obviously over the target so we should expect a barrage of these type of attacks on him. Another example of the malfeasance at CFPB being stopped by Mulvaney involves a boatload of the CFPB $ being directed to the left-lunging PR agency GMMB.
EXCLUSIVE: Obama’s Top Campaign Ad Firm Got Nearly $60M In Federal Contracts
Former President Barack Obama’s presidential campaign advertising agency received nearly $60 million in federal contracts after he took office, according to an analysis by The Daily Caller News Foundation Investigative Group.
The gravy train for the Washington, D.C.-based agency, GMMB, hasn’t slowed since President Donald Trump’s inauguration, the analysis found. The liberal Democratic communications powerhouse was awarded nearly $15 million in a new contract in June, after Trump entered the Oval Office.
GMMB received a total of $58.4 million in federal contracts from 2009 to 2017, according to USASpending, which tracks federal spending through contracts, grants, loans and other forms. GMMB’s annual revenue is an estimated $32.6 million, according to D&B Hoovers, a private business research and rating firm.
Jim Margolis joined fellow Democrat Frank Greer in GMMB in 1985. Since then, Margolis has been one of the Democratic Party’s top media strategists. He was lead advertising strategist and advisor for former Presidents Bill Clinton and Barack Obama, and for the 2016 Democrat nominee Hillary Clinton, which delivered considerable profits for GMMB. Margolis also produced the 2008, 2012 and 2016 Democratic National Conventions, and was the co-producer of Obama’s two inaugurations.Obama’s presidential campaign, “Obama for America,” disbursed to GMMB upwards of $700 million in media buys for his 2008 and 2012 campaigns combined, according to filings reported by the Federal Election Commission. GMMB confirms this amount on the company’s website, stating Margolis oversaw “each cycle’s half-billion dollar advertising effort.” 
‘Definition Of Tyranny:’ Mulvaney Asks Congress To Fix Liz Warren’s Agency
President Donald Trump’s administration is urging Congress to reshape the Sen. Elizabeth Warren-crafted consumer finance agency before it can be used as a tool for “tyranny.”
“The [Consumer Financial Protection] Bureau is far too powerful, with precious little oversight of its activities,” CFPB acting director Mick Mulvaney said in a statement Monday. “The power wielded by the Director of the Bureau could all too easily be used to harm consumers, destroy businesses, or arbitrarily remake American financial markets.”