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Win: Federal Judge Rules That Consumer Protection Bureau Is Unconstitutional

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posted on Jun, 21 2018 @ 07:25 PM
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A nice win against Government Corruption. Another Progressive government funded piggy-bank is almost sure to be disbanded. For those who don't know, this agency not financed through congress and is directly funded through the "Federal Reserve". Also, the leader of the agency was supposed to be practically untouchable and unaccountable by the Congress or The President Of The United States so that they could funnel money where they wanted to. Their scam, bring lawsutis and fines against businesses and re-distribute the money to "organizations". I bet you can guess what kind of organizations.....



www.chicagotribune.com...




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.




Reference material:

nypost.com...




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.



This whole scam of an organization is a Government front to levy fines and funnel the money to Left wing activist groups




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.



Needless to say, Progressives vow to fight on to make sure this agency stays, for our "consumer rights" of course....
edit on 21-6-2018 by infolurker because: (no reason given)




posted on Jun, 21 2018 @ 07:28 PM
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If anything goes against the Federal Reserve , it is a win for the US citizens.
Rothschilds owned Globally Connected Central Bank that it is...

Judge Loretta Preska of the Southern District of New York - There IS someone left in New York that knows the Constitution .
There is hope for that area yet.

edit on 6/21/18 by Gothmog because: (no reason given)



posted on Jun, 21 2018 @ 07:33 PM
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a reply to: infolurker

Truly good news!!!

When the Frank-Dodd Act passed, it pretty much made the CFPB unaccountable for it's actions.

Their building renovation was going to be simple...


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.



Elizabet Warren is going to be sad!

Can't wait for these parasites to go!




posted on Jun, 21 2018 @ 07:49 PM
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Good !!

The CFPB is a 100% total Democrat money funnel.

Or at least it was.

The Democrats that support(ed) it need to be exposed and made to answer. 💥⚖

The.Sun.Burn



edit on Jun-21-2018 by xuenchen because: Sun.Burn 🔑



posted on Jun, 21 2018 @ 08:14 PM
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It sounds like it may be a high level scam, but I would need to see some evidence where the money is going and what kind of fines they were giving out to judge the program. One director having that power is not good, and this agency should have someone looking over it. Who started this agency without congressional oversight governing it? I suppose this was during Obamanation times.



posted on Jun, 21 2018 @ 08:36 PM
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a reply to: infolurker

But....but....but...it's for us consumers! It's in the name!!!



posted on Jun, 21 2018 @ 08:40 PM
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a reply to: infolurker



Next thing you know, they will be declaring the House of Lords "Peasants Protection Act" as a detriments to the swineherds and scullery maids!



posted on Jun, 21 2018 @ 08:58 PM
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a reply to: infolurker


Looks like Trump just found some money to help start the Wall.



posted on Jun, 21 2018 @ 09:56 PM
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a reply to: infolurker


So, the Consumer Financial Protection Bureau is unconstitutional, but the Federal reserve is not?



posted on Jun, 21 2018 @ 10:01 PM
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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?



posted on Jun, 21 2018 @ 10:34 PM
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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?


Let me get this straight. You mean the world is tired of the U.S. being the world police because America is evil, but they think we should raise their kids? Am I getting that right?



posted on Jun, 21 2018 @ 10:45 PM
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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



posted on Jun, 22 2018 @ 12:13 AM
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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


Why yes sir. I am a Democrat. A Trump supporting Democrat at that.
And I was using that turn of speech to agree with you.



posted on Jun, 22 2018 @ 12:44 AM
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Clawbacks. The CPB needs to account for all moneys it had dealings with and the organizations funded by it need to return all funds to the federal treasury.



posted on Jun, 22 2018 @ 03:42 AM
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a reply to: infolurker

Oh Joy!! let the banks gamble with your money, so when they lose their bad bets and go bust , you are shtoutta luck and every tax payer have to pickup the tab and bail them out remember that movie??..so yeah privatize the gains and socialize lost yeppiieeee!!!
edit on 22-6-2018 by Spider879 because: (no reason given)



posted on Jun, 22 2018 @ 05:51 AM
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Too bad I don't watch TV news because I'd like to know more about this. It's all over CNN right?



posted on Jun, 22 2018 @ 06:09 AM
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a reply to: infolurker

So organizations that fine banks for mistreating its customers is bad? I was reading one case where the bank was sending collection people to peoples homes and jobs. And in one womens case blocked her driveway so she coildnt leave for work. Sounds to me that this credit union went a bit far and deserved to be fined.

Now as for the money until i can see where it goes i cant really pass judgement on that but in the case i mentioned they have monet to the consumers bit it may only have been a percentage. But to be honest i will always have a hard time supporting bankers.




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