Congress

House Republicans Threaten the Consumer Protection Bureau Chief

JM Ashby
Written by JM Ashby

House Republicans are floating the idea of voting to hold Consumer Financial Protection Bureau (CFPB) Director Richard Cordray in contempt of Congress for failing to provide records to Congress.

Republicans are investigating the process the agency used to draft rules banning mandatory arbitration clauses from financial contracts. And if your sense of humor is anything like mine, this might be the part where things get funny.

Republicans want to ensure the CFPB isn't drafting rules in secret.

The ban, hailed by consumer advocates, was finalized in July but Republicans in Congress are working to overturn it.

Republicans demanded the documents as part of a probe into rulemaking, and whether the rules regarding mandatory arbitration clauses were written in a proper fashion.

Mandatory arbitration clauses require consumers to resolve any disputes through arbitration instead of joining together in class-action lawsuits.

Virtually nothing has transpired in a "proper fashion" under Trump and this Republican Congress.

Republicans just spent the first six months of their tenure conspiring to reorganize the entire health care system in secret. Most Republicans didn't even know what their plans were until a few hours before taking their final votes. That may have ultimately cost them John McCain's vote and doomed their prospects for repealing Obamacare.

The New York Times and Pro Publica reported this afternoon that the Trump regime has formed "deregulation teams" for federal agencies that are operating in secret, with agencies refusing to even provide the names of people being appointed to each team.

For their part, the CFPB says they have turned over "thousands" of documents and will continue providing Congress with documents as they're requested.

This may sound familiar because House Republicans also pursued charges of contempt against former IRS Commissioner John Koskinen for not turning over documents that he was not physically able to turn over because, to his knowledge, they were routinely erased at a government hardware recycling facility. House Republicans eventually gave up on that endeavor and held former IRS employee Lois Lerner in contempt instead, but she was never prosecuted because they had no case.

  • fry1laurie

    Richard Cordray needs to come back to Ohio and win the governorship away from the party that’s held a 24 of 28-year monopoly on it. And helped ruin the state’s schools, highways, courts, environment, and on, and on…

  • muselet

    Jeb Hensarling and the rest of the Rs who have been bought by the banking industry have been railing against the CFPB since it was first proposed, insisting the poor, put-upon banks would be bullied and driven out of business by the horrible, anti-competitive, anti-capitalistic regulations the bureau would enact. No such thing has happened, of course, but it will (right after the global depression which will have been caused by Barack Obama’s 2009 Keynesian stimulus; and the demise of the domestic car industry which will have been caused by excessive and unreasonable emissions regulations, and Barack Obama’s 2009 Keynesian stimulus). That they are threatening its director with contempt of Congress doesn’t surprise me at all.

    Also, does anyone else find the term “deregulation teams” has a slightly sinister, Cold War ring to it?

    –alopecia

  • Aynwrong

    This and the fossil fuel story is what any liberal who has been paying attention for enough years (since 2000 in my case) knew was going to happen the moment the GOP took control of everything because we’ve seen this before. The dismantling of government from within to service the donors. The actual base of the GOP. Trump’s voters are chattel.

    Just to be clear, this all would have been on the agenda regardless of the Republican in the White House. Liddle Marco, Lying Ted, Low Energy, etc, etc, etc….

    Trump is not the disease. He’s only the latest symptom.

    • Scopedog

      And yet we still keep seeing the bleating from the purists about how “both parties are the same”. Bullshit.

      • Christopher Foxx

        Not all of us. Many have been beating the “Stop being stupid because they are fucking not!” drum for years.

  • Georgie

    They have no sense on how to govern, they treat their own party members/voters as toddlers who need to be told how live and why they are even on this earth, f*ck these guys.

  • Dread_Pirate_Mathius

    Republicans just want the win.

    They don’t care how they get it, how hypocritical they are.

    Nothing matters but winning and making liberals cry.

    That’s it.

    • muselet

      Well, that and erasing Barack Obama’s legacy.

      –alopecia

  • ninjaf

    Can they even act like serious adults for one goddamned minute?

    • Dread_Pirate_Mathius
      • ninjaf

        LOL…sorry. Lost my head for a brief minute and forgot who I was talking about.

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