It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
A New York federal judge ruled Thursday that the structure of the Consumer of Financial Protection Bureau is unconstitutional and that the watchdog agency should be eliminated.
Preska's ruling contradicts a decision by a U.S. appeals court on the issue this year and increases the likelihood that the CFPB's constitutionality could become fodder for the Supreme Court. Noting that the decision by the U.S. Court of Appeals for the District of Columbia Circuit was not binding in New York, Preska said she "respectfully" disagreed.
The independent structure of the CFPB has long been at the center of a fierce partisan debate over the agency, which was created during the Obama administration in response to the global financial crisis. The CFPB is ruled by a single director rather than a multimember commission and gets its funding from the Federal Reserve rather than Congress. The bureau's director also can only be fired for cause by the president, another element of independence.
The Obama administration’s massive shakedown of Big Banks over the mortgage crisis included unprecedented back-door funding for dozens of Democratic activist groups who were not even victims of the crisis.
At least three liberal nonprofit organizations the Justice Department approved to receive funds from multibillion-dollar mortgage settlements were instrumental in killing the ObamaCare repeal bill and are now lobbying against GOP tax reform, as well as efforts to rein in illegal immigration.
An estimated $640 million has been diverted into what critics say is an improper, if not unconstitutional, “slush fund” fed from government settlements with JPMorgan Chase and Co., Citigroup Inc. and Bank of America Corp., according to congressional sources.
The payola is potentially earmarked for third-party interest groups approved by the Justice Department and HUD without requiring any proof of how the funds will be spent. Many of the recipients so far are radical leftist organizations who solicited the settlement cash from the administration even though they were not parties to the lawsuits, records show.
Still, The Post has learned that the Consumer Financial Protection Bureau continues to force financial institutions it prosecutes to donate to third-party community organizers. More, penalties in such cases are deposited into the Bureau’s now-$170 million-plus Civil Penalty Fund, which has, in turn, channeled almost $30 million to “consumer advocacy” groups.
CFPB director Richard Cordray is an Obama holdover, whose special five-year term doesn’t expire until 2018.
The Independent Community Bankers of America, a national voice for more than 5,700 large and small banks, said it opposes the government practice of providing back-door funding to unrelated groups.
“ICBA believes the funds should go towards affected victims,” a spokeswoman for the banking trade association told The Post.
When first announced four years ago, the renovation project had a $55 million pricetag. By 2012, the CFPB revised the projected cost to $95 million and again last year raised the estimate to $150.8 million.
The CFPB's renovations included a four-story glass staircase, two-story waterfall and a sunken garden.
The $124 million spent to date for the 303,000 square foot office building is $409 per square foot, more than Trump World Tower, which cost $334 per square foot or Las Vegas’ Bellagio Hotel and Casino, priced at $330 per square foot.
It’s also double the $227.64 per square foot construction costs for “Class 1 – Best Quality” of masonry or concrete government buildings as reported in the 2018 National Building Cost Manual, the Bible for construction cost projections.
originally posted by: toysforadults
originally posted by: highvein
a reply to: infolurker
Looks like Trump just found some money to help start the Wall.
yeah but if they build the wall how are thousands and thousands of people going to send us their children to raise?
originally posted by: toysforadults
a reply to: highvein
you don't even make sense, you put words in my mouth and build a strawman than answer the pretend version of me you made up
you HAVE to be a Dimocrat