Consumer finance bureau ‘out of control’ under Biden's director, critics say

[mystery-ak]

Published 4 hours ago
Consumer finance bureau ‘out of control’ under Biden's director, critics say
US Chamber of Commerce warns Consumer Financial Protection Bureau needs to be reined in

By Fred Lucas Fox Business

After one of the federal government’s most powerful bureaucrats warned he would be "reining in repeat offenders," the nation’s largest business group wants to rein in his powers.

The U.S. Chamber of Commerce launched a six-figure digital ad campaign in late June targeting Rohit Chopra, director of the Consumer Finance Protection Bureau (CFPB), appointed by President Biden in 2021 and confirmed without a single Republican vote.

As head of the consumer finance bureau, he is a board member of the Federal Deposit Insurance Corporation. Before leading the CFPB, Chopra aggressively pushed regulations as a board member of the Federal Trade Commission. Chopra previously worked for a left-leaning think tank, where he advocated for creating a powerful ethics agency with near-complete autonomy from the elected branches of government.

"He is more aggressive than his predecessors. I think he has been willing to pick fights his predecessors wouldn’t have picked," Hilary Miller, a consumer financial services attorney, told FOX business. "He wants to do something that puts him in the news every couple of days."

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https://www.foxbusiness.com/politics/consumer-finance-bureau-out-control-under-bidens-director-critics-say

[christian]

Consumer finance bureau ‘out of control’ under Biden's director, critics say

If thats all critics criticize as out of control, then they are very narrow minded indeed!

[Hoodat]

In May, Chopra announced the CFPB created a new Office of Competition and Innovation to explore what government actions can prevent large banks from squeezing out smaller competitors.

The Anti-Dog-Eat-Dog Rule

[DefiantMassRINO]

If the US Chamber of Commerce doesn't like it, how bad can it be?

The US Chamber of Commerce has been selling out American industry and middle class to Globalists.  They seem to advocate over-consolidation and non-competitive markets.  They also lobby on behalf of kleptocratic monopolists, dualopolists, and oligarchs.

The US Chamber of Commerce is more of a threat to vibrant, competitive, resilient, diversified American capitalist thrift and industry than the Communist Party.  The Chamber are ticks firmly embedded in our government institutions, like Mitch "Swamp Turtle" McConnell.